Barclaycard nominal payment

[Tucker26]

Hi all.

 

I have a problem regarding reduced payments to credit card companies and was hoping somebody may be able to help.

 

In August 2006 I became sick and lost my job. I had three credit cards and up until then had made regular payments on all accounts.

 

I continued with the payments until the start of 2007, which was when my savings ran out.

 

I sought advice and offered all three companies a £1 per month payment until my circumstances changed. All three accepted with a note to review at a later date.

 

7 years on, I pay £30 per month to both Apex debt management and Halifax's Blair Oliver and Scott. They regularly review the accounts and occasionally increase the payments.

 

I have paid £1 to Barclaycard since 2007 and they have never contacted me to review my account. The did send me a letter in 2010 with an offer of a settlement figure but other than that, there has been no contact by letter or telephone.

 

I recently called them but they could not find my account. If I stopped paying this £1 per month, what would happen? Someone mentioned if there had been no contact for a certain time, then the debt could be written off?

 

Any advice would be appreciated. Thank you

[renegadeimp]

If they cant find the account, then maybe they have sold it on and the telephone advisor is none the wiser. Regarding the other payments, can you afford them? Dont let the creditor dictate repayment terms. It is to be done by your financial circumstances only.

[SabreSheep]

OK

 

first of all please list for each debt the following

 

Original Creditor

AMount

Type of debt eg credit card, overdraft, loan

Who OWNs the debt now.

 

Just a word of caution, the "contact" includes payment, so If you have been paying a DCA or OC the clock stops ticking.

[Klandestine]

I recently called them but they could not find my account.

 

What number did you call?

 

If you spoke to normal customer services then they won't be able to see the details of a closed card.

[fkofilee]

Sounds like Halifax and RBS Group were the original creditors...

Pay only what you can afford... If it's £1 a month then so be it

[slick132]

Hi Tucker and welcome to CAG.

 

Please use this thread only for the BC a/c. Start new threads for each of the other two a/c's if you need to.

 

So long as you continue to make nominal payments to any a/c, it will probably show adversely on your CRA records now, and for the next 6 years.

 

Can you let us know if this BC a/c is currently reported on your CRA files and who owns it.

 

Edited May 28, 2014 by slick132

[Tucker26]

OK

 

first of all please list for each debt the following

 

Original Creditor

AMount

Type of debt eg credit card, overdraft, loan

Who OWNs the debt now.

 

Just a word of caution, the "contact" includes payment, so If you have been paying a DCA or OC the clock stops ticking.

 

There are 3 debts, all credit cards.

 

1. Barclaycard. Now stands at £7100 approx. Not sure who owns the debt as there has been no contact. I pay £1 a month to Barclaycard.

 

2. Halifax Creditcard. Now stands at £3600 approx. Blair Oliver Scott send a letter every six months to review my account. I pay £30 per month.

 

3. Egg card. Now stands at £3700. Apex credit management contact me by phone every six months and review my payments. I pay £30 per month.

 

I have tried to negociate a settlement with the Blair Oliver Scott and Apex but they have declined.

 

These debts were a lot smaller but charges and interest accrued when I couldn't pay. Interest was only frozen when I sought debt management advice.

[Tucker26]

I called Barclaycard who put me through to debt recovery.

[Tucker26]

Hi Tuicker and welcome to CAG.

 

Please use this thread only for the BC a/c. Start new threads for each of the other two a/c's if you need to.

 

So long as you continue to make nominal payments to any a/c, it will probably show adversely on your CRA records now, and for the next 6 years.

 

Can you let us know if this BC a/c is currently reported on your CRA files and who owns it.

 

 

The last time I checked my credit file it showed the Barclaycard debt. I can't remember who owns it, I assume it is still Barclays?

 

I didn't keep the letter that offered me a settlement figure. At the time I couldn't have got the lump sum so just didn't respond.

[SabreSheep]

Ok credit cards

 

Think you should create a thread for each one in the correct forum.

 

First aim is to collect information to establish what you can reclaim.

 

Then cca request the original creditor for each

 

Also send a full Subject Access Request to each as well.

 

overlimit and late payment charges are your friend as is any ppi. Claiming these back plus restitionary damages through small claims can have a dramatic impact on the amount owed.

[SabreSheep]

the following may be of help to you.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?309037-Charges-older-than-6-years-***WON***-Compound-Int-t-and-**NO-SET-OFF**/page4

http://www.consumeractiongroup.co.uk/forum/showthread.php?423713-Barclaycard-Link

 

Only thing is that with your BC balance being so high that depending on when and how many charges were levelled and the amount of interest you would be claiming might put your claim above £10000 which would rule out small claims. If that is the case there are people here that can guide you.

[SabreSheep]

I called Barclaycard who put me through to debt recovery.

 

Please throw your phone out the window (Actually dont)

 

In all seriousness.

 

Please keep all contact with them via email and or letters with proof of posting

 

If they or any of the DCAs phone you say "in writing only" and terminate the call.

[slick132]

Hi Tucker,

 

Research the subject of reclaiming charges and compound interest from BC. If some of the charges go back a few years, compound interest can make a huge difference.

 

[SabreSheep]

http://www.consumeractiongroup.co.uk/forum/showthread.php?309037-Charges-older-than-6-years-***WON***-Compound-Int-t-and-**NO-SET-OFF**/page4

 

here is a start.

[Tucker26]

Ok credit cards

 

Think you should create a thread for each one in the correct forum.

 

First aim is to collect information to establish what you can reclaim.

 

Then cca request the original creditor for each

 

Also send a full Subject Access Request to each as well.

 

overlimit and late payment charges are your friend as is any ppi. Claiming these back plus restitionary damages through small claims can have a dramatic impact on the amount owed.

 

Thank you for your reply. I have been bogged down with other things at the moment but will tackle this next week when I'm straight.

 

I may need to get more info from you on how to deal with this if that's okay.

[fkofilee]

While I agree that contacting by phone is usually not a good idea sometimes I find it helpful to get basic info.

Use your judgement on my advice.

 

We are more than happy to help

Just remember you are in good hands with this site.

[Tucker26]

Hi there.

 

Sorry to have taken so long to return to this thread but major life events have somewhat taken over.

 

I am paying Barclaycard a nominal amount of £1 a month on a debt of £7200, I have been doing this for 8 years. During this time they have only contacted me once, in June 2010.This was to offer a reduced settlement figure of £1837. At the time I couldn't accept their offer and declined.

 

Yesterday I contacted them by phone to see if I had any PPI on the account that I could claim and also if they could offer another reduced settlement figure.

 

I didn't have any PPI, which I kind of knew. The settlement figure was £2189. I was surprised that over 4 years later the figure had increased, I thought it would be a lot less.

 

The assistant then told me that Barclaycard were not persuing the debt and if I stopped paying the £1 a month then nothing would happen. I would just have a debt on my credit file that would never go away.

 

If I accepted the settlement figure and paid Barclaycard, it would show as a part payment and again the debt would still show on my credit file as never being settled.

 

It would seem that either way I will always have this debt on my file unless I can clear the whole amount, which I can't. I thought that paying a settlement figure, whatever the amount, would show it settled and that would be the end of it?

 

Any advice would be very helpful. I just want to move on with my life and although I don't want to get anymore creditcards, I may want to move house in the future and feel this would prevent that.

[goodatresearch]

Does this show as a default on your credit file. If so what's the date showing.

[Tucker26]

Does this show as a default on your credit file. If so what's the date showing.

 

I will have to get an updated report from my credit file. The last one I got was a few years ago but have looked today and can't find it.

[goodatresearch]

Noddles free but not always up to date. However it may confirm the default date which cannot change.

[slick132]

Hi Tucker,

 

If the a/c was defaulted more than 6 years ago, that default should no longer be showing on your CRA.

 

This is to ensure that a debtor who tries to repay a debt is not disadvantaged compared to a debtor who repays nothing.

 

Before agreeing to a settlement figure, have you yet worked out what you paid in penalty charges in the past ?

 

[goodatresearch]

Exactly. If already showing as a default it can only be reported on your credit report for 6 years.

 

Also, its very important that you do a CCA request. Barclaycard made my life a misery. Wouldn't accept reduced payments and just sent threat after threat. The last straw was a very nasty phone call. Guess what, after a CCA request they have had to admit they can't enforce and wouldn't let anyone else try to enforce as they didnt have the original and couldnt even reconstruct.

 

Hi Tucker,

 

If the a/c was defaulted more than 6 years ago, that default should no longer be showing on your CRA.

 

This is to ensure that a debtor who tries to repay a debt is not disadvantaged compared to a debtor who repays nothing.

 

Before agreeing to a settlement figure, have you yet worked out what you paid in penalty charges in the past ?

 

[Tucker26]

Noddles free but not always up to date. However it may confirm the default date which cannot change.

 

 

I have checked my credit file on Equifax and Noddle, neither show a default date. The only dates that are shown are start date of the credit card and the most recent date.

[Tucker26]

Hi Tucker,

 

If the a/c was defaulted more than 6 years ago, that default should no longer be showing on your CRA.

 

This is to ensure that a debtor who tries to repay a debt is not disadvantaged compared to a debtor who repays nothing.

 

Before agreeing to a settlement figure, have you yet worked out what you paid in penalty charges in the past ?

 

 

Hi. Sorry but I have only just seen your reply. I didn't realise there was another page to the thread.

 

I haven't obtained any details of charges on the account, not sure if they will have a record?

 

My credit file doesn't show a default date but I have been paying £1 a month since 2007.

 

Are you suggesting that this should no longer be on my credit file?

[SabreSheep]

A Subject Access request may result in them giving you info back to 2002 (they did for me)