Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
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Been lurking here for a while looking at everyones experiences.
Have had a Barclaycard for somewhere in the region of 18 years, have always made minimum monthly payments and never missed a payment, but due to life, new child etc now have a rather large balance which is becoming difficult to manage.
Have a credit score with Experian in the 'Excellent' category and do not wish to jeopardise that.
I understand that a CCA letter is the first step with Barclaycard and want to get advice as the pro's and con's of continuing to make the minimum monthly payments while process takes place.
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
The 'process' is only 12 working days from receipt of your first CCA request.
Unless you intend to pay the card off why pay the minimum.
If you are earning some one will always lend you money probably at similar rates to CCards.
Depends if you have plans to do something useful with your CC credit I suppose.
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
After reading all the info, I thought I was ready to send the CCA and crack on, must admit that I am feeling a bit hesitant about doing it ....
Credit status being affected
Guilt about not repaying what I have borrowed whether it be a 'legal' agreement or not, however on the other hand I have never ( or at least cannot remember ) requested an increase in the credit limit on my card and therefore feel in some way justified in feeling that perhaps right in taking this course ... enough of my moral ramblings !!
As I understand, in essence even if the agreement is not compliant with the legislation, the balance is not written off but is rather deemed as unenforcable by the lender, if this is the end result will they at that point class the account in default with Experian etc affecting the credit score ??
When you take the relevant steps, write for CCA, get sent T&C's, write again stating the account is in default, at this point do Barclaycard sell the debt on to Mercers and they pursue you, or do you deal with Barclaycard until the bitter end ??
If at this point, no CCA is forthcoming, is it worthwhile at this point making an offer of a settlement to B/Card in Full and final settlement thereby negating the unenforcable status but the account being closed and settled in full ??
A CCA request to BC will only produce T&C's at the mo. If they reply late, ie after their 12+2 working days, the a/c is in dispute and you don't have to pay them until they respond.
When they send you the T&C's, they feel they've complied and, if you then fail to pay, they'll pass the a/c to Mercers who are BC's in-house DCA. Mercers will then harass you endlessly on the phone.
If you don't pay, they'll put a negative marker on your CRA files. You won't get a chance of settling with an F&F offer until much further down the line.
Start by asking for a freeze on interest for 6 months to give you a chance to work out a plan.
If they won't listen or help, ask for your Credit Agreement using the CPR route.
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
Barclaycard agreement
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