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The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
It would appear Barclaycard may be trying new tactics to reduce the level of debt.
I don't know what the criteria is for this kind of offer, but if anyone can afford around 30% of their total debt (which is what this offer is on just over £4k), it might be worth approaching them to see if they'll agree to take that amount to wipe out the rest.
Essentially, they say:
Pay £xxxxx and clear your account.
Save £yyyyy today.
We are pleased to offer you an opportunity to pay off your balane at a significant saving.
Simply call 0845 xxx xxxxx within the next 10 days to accept this offer and clear your account.
Acceptance of this offer and confirmed receipt of payment:
Saves you money - stops potential charges and interest being applied to your account.
May improve your credit rating - your accont will no longer show as overdue.
Gives you piece of mind - stops all collection activities on this account.
We urge you to contact us and take up this offer or discuss a repayment plan. Failure to do so may result in further collections action.
Will be interesting to see if the other credit cards follow suit. It surely has to be in their interest to try and recover as much of the debt as possible rather than face lengthy wrangling over charges, with all the spiralling administrative costs and increasing numbers of people declaring bankrupt.
Hi phoenix11
That's v interesting - we just offered 10% full & final, which they refused. I think it is unfair trading for them to sell debts for between 5-15p in the £ to a DCA but not offer us the same beforehand. They've come down from about £10 to £7k to £5k with us so 50%. Do you think they're making this offer before mass selling on of debts - they'd certainly make more from people buying at 30% than selling on.
Do you think it's worth offering less and haggling them down?
Good luck anyway - let us know what you do.
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.
Hi Slick - I don't have the facilities to scan so cannot do that.
The account is still with Barclaycard but it's not my debt - it's my OH who left over 2 years ago but seems to have this debt against my address.
It's a long story, and this bit has suddenly come to light, so I thought I'd post it here as it might help others if they can raise something to pay of any debts and discuss an acceptable deal, it might be cheaper than pursuing the excess charges.
1. Is this BC offering a F&F settlement. I suspect it is a DCA who will have paid a fraction of it's worth and will profit on the deal.
They say "May improve your credit rating - your accont will no longer show as overdue." They only say MAY. The Credit Records may be changed to show the debt as SATISFIED but not SETTLED, and these are quite different.
2. If this relates to your OH and you're no longer together, you can simply write to them and confirm your OH left on xxdate and no longer has any connection with you or the property. They may not believe you at first but, if you refuse to deal with them and return mail unopened, there's little they can do.
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.
I've just sent them a nice 'bog off' type letter - it most certainly is not my debt and I'm not paying diddly squat.
I only post it in case it was of help for others who were in the position to go to Barclaycard and haggle over having their total debt removed by paying around 30% of the total.
And it most definitely IS from Barclaycard themselves - not from a DCA whatsoever.
Please don't ignore letters from BC or anyone else about OH's debts. Send them back unopened, or with a letter confirming he has no connection now with you or your address. They have a habit of coming back to haunt every few months or even longer.
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 - New Approach from them?
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