Thanks i will download and send it off ...hopefully they wont produce one or if they did, surely its void after them braking the rules over charging interest they werent entitled to?...which they admit theyve done.....i shall just ignore and not pay any of the 2 useless debt agencies acting for Barclays??...thanks.
@dx100uk That's made me think even more that the original idea of contacting the creditors myself and entering into a pro rata agreement must be my best move. I know I am in a bad financial state but I really want to reduce the restrictions for my future credit status.
So I now need to sit down work out my finances and how much spare money I have per month, then individually contact my creditors and ask them to freeze the interest and accept a lower monthly repayment.
The downsides to this are:
1. They could refuse to accept my offer (but I will only go back to the position I am in now).
2. It will affect my credit scoring (but not as bad or as long as a DRO or IVA would?)
3. The debt will not be written off but I'll just be allowed to repay it over a longer time scale and a more manageable rate.
The upsides are:
1. I will not have the risk of my tenancy ending or my car agreement being revoked.
2. I will be able to breathe financially and not have to worry all the time.
3. The payments I make will actually go to reducing the debt not just hitting the interest.
4. I will have a better chance or getting a mortgage in the future with this option rather than an DRO or IVA.
5. I can keep my bank account.
Is the above all correct?
Don't touch them owe me £500 since January 2019 make excuse after excuse. Seem they always have software problems sending money out. Keep saying they will call back or email nothing been chasing it now for 6 mths the phone staff always have the same banter we will chase it up and get back to you then nothing!