Barclaycard - Mercers - F&F?

[concerned12]

Hello

 

I know this is probably the million dollar question but has anyone any recent experience on BC/Mercers settling a Credit Card debt.

 

Been about 4 years now. Paying a DMP which they have now rejected, gone to mercers who threatened in a letter but heard nothing since last year. I am paying about 50.00 a month anyway and owe about 9.000 still

 

Any ideas on what they would settle for?

 

Many thanks

[fkofilee]

Barclays are mercers!...

 

Is their PPI on this?

[concerned12]

Barclays are mercers!...

 

Is their PPI on this?

 

No its a credit card debt only

[citizenB]

Sorry, don't understand, who has rejected DMP ? Even after you have been making payments for 4 years ?

[concerned12]

Sorry, don't understand, who has rejected DMP ? Even after you have been making payments for 4 years ?

 

I had an agreed DMP with BC.

...after a while BC Rejected my DMP amount.

..BC then passed my Debt to Mercers (Yes I know they are BC)

 

 

I continue to pay my rejected DMP amount anyway.

 

 

...My debt technically is with Mercers.

 

 

wondered if anyone had any ideas on what they would settle for as full and final settlent of a 9.000 credit debt?

(a likely reduced amount of course)

[SabreSheep]

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

 

more than one way to skin a cat

 

Actually your debt is technically with barclaycard

 

Merciers is them and they are just a different office. Barclays STILL owe the debt

[concerned12]

[

 

more than one way to skin a cat

 

Thank you. Slightly more complex than I was anticipating anyway was still wondering re an acceptableish offer of settlement as previously mentioned?

 

Actually your debt is technically with barclaycard

 

Merciers is them and they are just a different office. Barclays STILL owe the debt

Thanks yes I know that offer needs to go to Mercers as far as I am aware...any ideas of an amount?

[SabreSheep]

Ok simple question

 

Any Overlimit and late payment charges on that credit carD?

[concerned12]

Ok simple question

 

Any Overlimit and late payment charges on that credit carD?

 

No overlimit....Yes late payment originally before I got intoa DMP then obviously a partial payment after a period of acceptance of DMP. About 4 years ago through Step Change

 

No overlimit....Yes late payment originally before I got intoa DMP then obviously a partial payment after a period of acceptance of DMP. About 4 years ago through Step Change

 

DMP was then rejected by BC I was told to deal with Mercers and havent heard from Mercers (or BC direct with a statement) in about a year after the usual threatening letter from Mercers

[SabreSheep]

No overlimit....Yes late payment originally before I got intoa DMP then obviously a partial payment after a period of acceptance of DMP. About 4 years ago through Step Change

 

These can be reclaimed with interest of upto 29.99% compound interest.

 

Your first step should be to do a full subject access request to Barclays asking for all info

[concerned12]

These can be reclaimed with interest of upto 29.99% compound interest.

 

Your first step should be to do a full subject access request to Barclays asking for all info

 

OK fantastic thanks. Don't think I incurred any charges on them.

 

Was really just asking if anyone had any experience of reaching a settlement with BC/Mercers on a credit card debt of 9.000'ish and how low the offer might be that they have accepted for a similar amount.

[SabreSheep]

You said you had late payment charges.

 

knowing how much you could reclaim can be used in negotiations.

[concerned12]

You said you had late payment charges.

 

knowing how much you could reclaim can be used in negotiations.

OK sorry late payment but not charges, appreciate your advice though. Now then....any idea of what sort of offer Mercers might accept?

 

OK sorry late payment but not charges, appreciate your advice though. Now then....any idea of what sort of offer Mercers might accept?

 

 

I know its all hypothetical and there are plenty of things I can do other than making an offer but in all the posts about debt on the internet you never really find anyone who has settled with Mercers for an amount of money or percentage of a debt. I was interested in a real life scenario where someone has made an recent offer to Mercers for a BC debt and how much they accepted.

[SabreSheep]

Late payment charges ARE reclaimable.

 

if they are 4 years old with the interest they will impact on the balance quite a lot.

 

Without knowing how much you could reclaim, there is no idea on how much of the debt is "unlawful" and therefore what offer they would accept.

 

We also do nto know when the accoutn was opened and if they have paperwork. You woul need to do a cca request.

 

This would imply on how enforceable the debt is and therefore impact on how low an offer they woudl accept

 

Without getting the info, you are not going to get an answer.

[concerned12]

Late payment charges ARE reclaimable.

 

if they are 4 years old with the interest they will impact on the balance quite a lot.

 

Without knowing how much you could reclaim, there is no idea on how much of the debt is "unlawful" and therefore what offer they would accept.

 

We also do nto know when the accoutn was opened and if they have paperwork. You woul need to do a cca request.

 

This would imply on how enforceable the debt is and therefore impact on how low an offer they woudl accept

 

Without getting the info, you are not going to get an answer.

 

OK thanks anyway

[slick132]

If this was a BC a/c, there could have been PPI being added monthly but you can check for this when you get a reply to your SAR.

 

Roughly what are you still paying now per month.

 

When did you last supply BC with an Income and Exp're schedule, to show what disposable income you have to pay debts pro-rata to all creditors.

 

BC are not likely to accept a Settlement yet and you need to get all default/penalty charges reclaimed with interest to reduce the balance first. PPI too if applicable.

 

[Beamengine]

BC last week offered me a settlement on two accounts totalling £9000 of 60% claiming that this is the lowest they will accept.

They have a number of problems as they had previously acknowledged that one on the agreements was unenforceable but they have now changed their mind on this.

I have been advised that both of their agreements provided under s78 were unenforceable and asked them to seek a CCJ, Apparently it is their policy not to take court action but to sell it on to a DCA who will. I offered to buy the debt for the assignment value and threatened a claim under s140a if they sold it on - they had already rejected a 60% offer in 2011.

Most intrigued by the Mercer reference as they were a non trading company and last June I was informed that they had stopped using that name as the result of customer feedback!

[slick132]

Hi Beamengine,

 

Do you have any connection with Concerned12 who started this thread.

 

If not, you need to start your own thread.