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imrocko

Ignore debt until they default ??

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Hi struggling to pay a barclays card and was wondering if we should contact them or just ignore them untill they default it and then start payiing of??

 

we know we are going to default just want to get it on file asap so we can start the 6 years count down

 

any help would be great thanks

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Hi

Ignoring is not always the best option, neither is a default automatically going to be applied. It all depends on the situation.

 

If you were to send them an income and expenditure form to show you are in financial difficulties and make an arrangement to pay, this would show as AP on your credit file however, if your I&E showed that you could only make token payments then they should default immediately, By ignoring them, the adding of a default could be delayed by 2-3 months.

 

Did you have PPI on the card? Are there any charges that could be reclaim (if they have charged them of course)


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Thanks for the quick reply no ppi on the card and no charges so you advise offering a token 1 pound payment for xx months? this would make them default quicker. Or making an arranmgment to pay which would show as AP on a credit file?

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The card is up to date however the interest is now making it very hard to pay and we rob peter to pay paul pretty much

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Is this the only card/credit/loan you have or are there other accounts you pay.

 

Barclays would be well within their rights to reject offers of token/reduced payments if for example you were fully paying another card or loan.

 

A fuller picture will generate far better advice and help


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Ok there is two cards one mbna and one barclays similar values i was going to replicate what we did with the barclays with the mbna

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NO sorry I meant "replicate what we do" having set up nothing with any cards atm

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exact values

Barclayclays 8800

mbna 5000

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write to both with I&E offering payments which you can afford and see what comes back.

Are your financial circumstances likely to change in the future? Any accepted offer will be subject to regular reviews


PLEASE HELP US TO KEEP THIS SITE RUNNING

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I am not legally trained or qualified, any advice i offer is gleaned from experience and general knowledge, if you are still unsure after receiving advice please seek legal advice.

 

 

 

GEMHL Settled

Barclaycard Settled

A & L SETTLED IN FULL :lol:

Spml Reluctantly withdrawn

Blackhorse pre 31-7-06 Demand removal sent 23 8 06. ICO ordered removal jan 2007....REMOVED:lol:

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Tried to get a loan and was rejected so guessing my credit rating is bad due to high% of debt used. Situation prob wont change

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I think a payemnt offer will be the best idea does anyone have the link to a letter template please>?

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Everything you need to get started is in the library however, this link will get you started.

 

http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?405-Debt-Collection


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Hi struggling to pay a barclays card and was wondering if we should contact them or just ignore them untill they default it and then start payiing of??

 

we know we are going to default just want to get it on file asap so we can start the 6 years count down

 

any help would be great thanks

 

Ignoring doesn't mean you will reach the six years and qualify for it being statute barred, during that time they can take you to court and get a ccj and then send in bailiffs if still no payments.

 

Make an arrangement and start paying the amount you can afford and even if they disagree with it continue those payments while you try to reach an agreement.

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I know this but if your going to get a default on your file its better to get it ealier

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Barclays dont rush to default.

I have a situation with them where they should have defaulted in 2009/10 but left it till 2014. Effectively they are trashing my file for just shy of 12 yrs.

And im not the only one its happened to, look around the barclaycard threads and you will see


PLEASE HELP US TO KEEP THIS SITE RUNNING

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I am not legally trained or qualified, any advice i offer is gleaned from experience and general knowledge, if you are still unsure after receiving advice please seek legal advice.

 

 

 

GEMHL Settled

Barclaycard Settled

A & L SETTLED IN FULL :lol:

Spml Reluctantly withdrawn

Blackhorse pre 31-7-06 Demand removal sent 23 8 06. ICO ordered removal jan 2007....REMOVED:lol:

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Hi Imrocko,

 

The Budget Planner will help you show a figure that you should be offering each creditor, pro-rata.

 

If the BP shows you're unable to service the existing debts properly and you're in financial difficulty, then you can ask the banks to freeze interest and not add default charges.

 

:-)


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