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Barclaycard crippling interest charges


stevenson166
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Hi,

 

 

A quick heads up on my dilemma..

.similar to another post .

 

 

I currently have 2 accounts with Barclaycard totaling nearly 7k

 

 

my £180 monthly payments are the most i can pay..

.The debt does not decrease though as it gets swallowed by interest payments.

 

My credit rating is very poor and i cannot get any which is a good thing as it stops future debt.

 

 

I have contacted them regarding this and although they said they would freeze repayments for a month whilst i send them a expenses form.

..I do not want to stop paying the debt its the interest that i dont want to pay..

 

 

.I have even told them i will just stop paying because of my credit rating.

 

 

I have just had a letter though charging me late payment fee and overlimit fee and the bill is for 2 months repayment.

..it totals £160 just for 1 account..

 

.I need advise please as they say if i do not return the expenses form by 25th feb then they will revert back to charging interest

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

 

How many overlimit fees and late payment charges do you h ave.

 

These CAN be reclaimed, with interest of upto 29.99% apr

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The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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Thanks for the reply...there are a few..I will need to sift through history if possible via my online Barclaycard account .

How do i go about repaying the debt and not paying interest now though ? and could they not just keep charging me fees if i did default payment ? My biggest fear is baliffs coming to recover debt as it is solely mine and not my wifes..

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first of all

 

you need to write to them recorded delivery and tell them your in financial hardship and ask them to stop charges and fees. Read up on CCOBS Send to their head office and ceos office.

 

Secondly

baliffs are a LONG way off.

 

First they have to take you to court.

THEN they need to WIN

THEN the court will take into account your I+E on any repayments ordered.

 

When were the 2 accounts opened?

 

ALSO

 

Send a FULL SUBJECT ACCESS REQUEST to barclays ASK for ALL information for ALL accounts you have,

Template requests in the library.

 

Just to give you some idea.

I Had 750 worth of charges at various times going back to 2004. With interest the claim was close to £6000!!!!

Reclaims can sometimes have a large impact vs the balance owed.

 

ALSO

 

Any PPI that also needs to be reclaimed?

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The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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Also no more contact via phone. Always insist on written communication.

 

IF they have defualted you and then after recieving a letter regarding financial hardship they *MAY* terminate the agreement. THAT means they cannot charge any more interest on the balance.

 

In your letter include an I + E and if that says you can only pay £1 a month then so be it. They have to accept it

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The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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Yes cancel your DD

Do that in writing to your bank as well as online, just to cover yourself.

 

Remember a S.A.R will cost £10, BUT it is well worth it.

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The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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When were the accounts opened? This is also important to know

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The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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Will check the accounts..why does the length of account opening so important ?

Because it is MY debt do i have to incorporate my wifes income or soley mine in the I + E or as a family income ? as we have our own accounts for money ? very confusing

Edited by stevenson166
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Because it opened before 2007 Barclaycad or whoever buys it from them will require the original agreement to enforce in court.

 

You could also CCA request for both cards.

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The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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Hi Stevenson and welcome to CAG

 

If the a/c's were opened pre 2007, BC would need the original credit agreement to enforce the debts.

 

It sounds like you are in that grey area where you can still just manage the monthly interest pay'ts but you can't pay any more to start reducing the capital amount.

 

Before you write to BC, fill in an I&E spreadsheet for yourself, to see if you are in "Financial Difficulty". This will depend on whether you have enough to meet your financial commitments including the BC repayments.

 

Do you have debts with other cards or bank loans.

 

Do you own your home. If it's mortgaged, is there positive or negative equity.

 

BC are not likely to help you in this situation and you may have no option but to stop paying them, so the a/c's are frozen with no more interest or penalties.

 

:-)

We could do with some help from you

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Thanks !:-)

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Thanks, I do own my home joint mortgage with about 68K left and i have defaulted on others but have kept up to date with agencies...they don`t want to help me as they have said i can meet the minimum repayment amounts..they would say that as i am paying them just their interest.

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Were the a/c's opened pre or post 2007.

 

This is important :-)

We could do with some help from you

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Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

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CCA requests and SAR should provide the info

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The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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Have been looking at the Joseph Rowntree foundation for I + E and found that after basics i have really been missing out by a few hundred pounds of what is called a minimum standard of living...by this i mean the money is taken to pay cards ..

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Then drop those payments to £1 a month until you find out if they have the CCA or not.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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They'll sell the a/c to a DCA, or threaten to do so.

 

Subsequent DCA's will make all sorts of threats but, until you know if the a/c's are pre or post 2007, we can't say what will happen.

 

Let us know when the a/c's were opened roughly and we'll take it from there.

 

:-)

We could do with some help from you

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                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

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No, the SAR is purely a request for data and this is not the place to tell them to communicate in writing.

 

If you need to do this, do so by a separate letter, in response to a call or a letter from BC.

 

:-)

We could do with some help from you

                                                                PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

                                            Have we helped you ...?  Please Donate button to the Consumer Action Group

 

Please give something if you can. We all give our time free of charge but the site has bills to pay.

 

Thanks !:-)

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Both accounts were opened January 2010

 

I confirm both your accounts are on hold until 21 March pending receipt of your income and expenditure details.

 

Although interest and fees will be suspended for this period, arrears will accrue without payment, and as a responsible lender, we will report this on your credit file.

 

I hope this is of assistance.

 

This was emailed today and i emailed the I + E

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