Barclaycard go back on promise to stop interest

[slick132]

Contact BC in writing only - phone calls will get you nowhere and you have no paper trail.

 

If you are in Financial Difficulty and can show this with a Budget Planner, the bank also has a duty to stop adding charges and interest as per the banks' Lending Code. See this thread - http://www.consumeractiongroup.co.uk/forum/showthread.php?333949-Cahoot-bank-charges-Claim&p=3680602&viewfull=1#post3680602

 

It would also help you to know where you stand as regards the amount of the debt, and the amount you could reclaim in default charges. BC will refund not only the default charges but also compound interest. Read the advice and links in this thread - http://www.consumeractiongroup.co.uk/forum/showthread.php?217867-Fishman123-vs-barclaycard-ex-MSDW&p=3680593&viewfull=1#post3680593

 

Then let us know approx what is owed on each a/c and what you reclaim in charges and compound interest at 24.9%.

 

[Sev]

Hi, sorry for the delay in replying back to this thread.

 

Ok, the update is strangely enough of no surprise.

 

on the 26th January I received a text message saying:

 

"at barclaycard we are fully commited to resolving your complaint. Please contact our UK based complaints advisors today on 08000150451 between 9am to 9pm non to fri"

 

I sent them a letter detailing everything above and received a reply back saying that they would have a decision by the 22nd Feb - regarding my 'complaint'.

 

On the 26th feb I received a letter saying that my 'complaint' was still being looked into. there was no date of expected resolution or communication.

 

I'll scan them in so that you can all see.

 

In the mean time, my April statements have arrived. The Visa account has £2032.57 owing and the minimum payment is £45.08 The interest on the balance is £22.34

 

The MasterCard now has £340.17 owing and the interest is £4.97

 

I think it's time to read up on all those above threads and go for it. It's been over 6 years since I fell on hard times and this bunch haven't made it any easier.

[slick132]

Hi Sev,

 

It'd help us to know approx how much you have identified in default charges and compound interest for each card a/c.

 

[Sev]

Hi all,

 

After falling on hard times some years ago, I reached agreements with all my creditors with regards to a token payment.

 

Barclaycard were the most difficult, and an agreement was never reached - they ultimately said pay £51pcm and we'll stop the interest, the other option was the relentless harrassement from their debt collection department.

 

before Christmas I received a letter saying that they wanted a new financial statement to review the situation, which I sent (under recorded delivery).

 

I received a letter a few weeks later saying that as no statement had been received, that interest would once again be applied.

Since new year I have had interest once again applied on my accounts. This means that of the 51 pounds paid, 28 of it goes on interest charges.

 

I wrote a letter to them asking them to stop interest. They treated it as a complaint - dragged it out for two months and then I received a reply three months later stating that;

 

Customer services were not willing to stop interest.

 

The amount I pay is well above the minimum payment (so he never actually looked to see that I was on a payment agreement), thus could well afford the interest.

 

That my other creditors being affected by this was none of their concern.

 

But... If I wanted to talk about it... just call...!!!!

 

 

So my question is, what now?

 

I am very tempted to renege on the payment agreement and just pay the same token amount to them as to everyone else - after all, they always received the lion share of my available income.

 

Put it all in the hands of someone like payplan and set up a dmp.

 

re-evaluate all my offers and contact all my creditors again with new offers citing Barclaycard as having forced my hand.

 

I'm furious, I've done everything I can to repay my debts and not wriggle out or run away from them, and all I/ we get is a kicking, and In truth I thought I was done with this thrashing it out three years ago.

 

I have two accounts, a MC and a Visa with 380 and 2800 owing respectively, and now they have my egg card as well. I am in half a mind to just throw the 51 pounds on the MC as it's the smaller sum and therefore will make the most noticeable dent straight away, send a letter explaining what i've done and why and then I suppose wait for the filth that is Mercers to come ringing.

 

There's not even any addresses to write to any more, they just cite a phone number in the first instance.

[brokebutnotbeatn]

complain formally to their CEO. That usually elicits a response.

[Guest]

sev

also, see (if not already) the bankers Lending Code re financial difficulties p28, interest p34, etc

post #4 here http://www.consumeractiongroup.co.uk/forum/showthread.php?56391-Examples-of-codes-of-conduct

eg

 

'Subscribers should consider reducing or stopping interest and charges when a customer evidences that they are in financial difficulties........'

'Where a customer is able to make only token payments, their debt should not increase as a result of interest and charges levied.....'

'It is inappropriate for interest and charges to continue to be taken where the result would be that the repayment period for the customer becomes excessive..........'

'Concessions should not be arbitrarily withdrawn irrespective of a customer’s ability to pay or without any evidence of a change in the customer’s circumstances. Expiry of a repayment arrangement should not automatically lead to the withdrawal of concessions. This does not rule out regular reviews and if a customer’s position has improved then interest and charges can be reintroduced.'

 

etc

Edited April 5, 2012 by Ford