Defaulting on a Barclays loan. Advice please!

[le_bonn]

Hi everyone.

 

Firstly I would like to thank everyone who has helped me on here before but I'm back again with yet more difficulties with Barclays. Its not my Barclay card this time but a CDL loan that I am having real trouble with. Any help would be greatly appreciated.

 

Anyway my predicament. I have a CDL loan with Barclays with a with a pretty hefty balance. I have been paid the correct monthly amount until this September when I was rendered unemployed an was no longer able to keep up with the payments. I agreed a reduced payment plan for 3 months, this came to an end last month and as my fiscal situation has not improved I requested an extension on my reduced payment plan. This has been rejected and a letter demanding full payment of arrears dropped onto my mat. I wrote to Barclays again re-stating my difficulties (I addressed this to one of their "senior collection advisors") this was spat back at me and now I have received a notification of Default which (and you have got to love Barclays for this) comes into play on the 25th of December.

 

I would be really grateful if anyone could let me know what my options are. I am in no position to repay my arrears or increase my monthly payments. what can I do. I have asked for understanding from Barclays which I accept is always optimistic but what would happen if the account was defaulted on? I have other accounts with Barclays all In the red except a joint account. Can they offset money from a joint account?

 

 

I am sorry for the barrage of questions and information but I am a bit worried at the moment. any advise or information would be hugely appreciated.

 

all the best.

 

Le_bonn

[slick132]

Hi LeBonn,

 

Barclays are very difficult to deal with and have a reputation for not helping customers in times of need.

 

You may do better if the approach to Barclays is may by a 3rd party on your behalf.

 

Have a look here and speak to the National Debtline - http://www.consumerwiki.co.uk/index.php/Debt:_Where_to_Get_Help

 

Check the a/c to see if the bank has added any penalty charges since you couldn't pay. If they have, you should reclaim them as they are unlawful penalties.

 

8-)

[le_bonn]

Thanks I will give that a try.

 

I'm not sure what they think they will get out of defaulting my loan. I dont have a house or a car or any substantial assets that would make an impact on the balance. I have continued to pay what I can and I will approach the Debt helpline to see if they can get any sense out of Barclays.

 

Thanks for your advice.

 

yours

 

Le_bonn