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What to do next re Barclayloan?


moonwoman
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I'd appreciate any help with my next move here.

 

Firstly some history/info.

 

I took out a loan with Barclays - it was in 2003 I believe, no PPI. The loan was for £10,000 and payments were for around £208 per calendar month.

 

Until around 18 months ago payments were generally up to date - a few hiccups along the way, but always caught up.

Since then I have not been able to make any payments. I must admit I just let it slide and didn't contact Barclays.

Barclays have sent occasional letters asking for payment.

 

In January I agreed to pay £10 per month for three months, whilst we waited to see how our financial situation panned out. All three of those payments have been made.

 

At the end of February they sent a Default Notice.

 

Said financial situation got worse instead of better! I have reduced my hours from full time to part time and bring in around £460 pcm. This reduction in hours was due in part to being off work with stress last year when in the same position full time. My OH is in self employed building work under contract and his contract finished around the same time.

 

I wrote to Barclays towards the end of March explaining all of this, and also explaining that we were applying for Council Tax and Housing Benefits at that time. I explained the situation, that we were behind on rent, council tax, water rates etc etc., and offered to pay £5.00 per month. I also included this ... "If interest or other charges are being added to the account I would be grateful if you would freeze these so that all payments made will reduce what I owe you. Naturally should our circumstances improve I will contact you again."

 

Barclays have replied to refuse this offer, and suggested that I seek independent financial advice through CAB, National Debtline etc. They have also suggested I contact other creditors, which I have already done (Barclaycard were equally unhelpful as Barclays; other credit card accounts are in dispute due to non CCA for quite some time: one appears to have written it off).

 

Barclays letter states "If you have other creditors, I would advise you contact each of them, if you have not already done so, as they may be able to arrange alternative solutions due to your present financial position." This looks to me like they are hoping I can reduce payments elsewhere to release more money for them! That isn't the case.

 

Their letter concludes that 'Unfortunately they are unable to suspend interest or action for the period requested.' and that's it.

 

The default notice is for nearly £4,780. I reckon that in the time I have made payments I have paid around £15,000 - £16,000. I have no idea where to go next with this.

 

Any help would be much appreciated.

 

Thanks

 

Moonwoman

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I'd be inclined to reply with an eequally short letter asking them to explain how they arrived at this conclusion given that all legislation on debt collection and helping people in financial difficulty states they should be doing their very best to help you.

 

Leave it at that for the moment - don't threaten FSA, OFt etc... they know the law, and it would be interesting to force them to put into writing why they are disregarding it.

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