barclaycard - paid off March 2012 - sold to Link 2016 - threatened with solicitors 2017 ?

[dx100uk]

well you've been here two years and should know better not blindly offer money..

[sweenstar]

Thanks for pointing that out,

 

Yes I was panicked I wanted my credit file finally clear - new slate and all that as I was thinking of moving house or even renewing my mortgage deal I currently have .... they refused it anyway, but the question would be does that constitute as sufficient contact to re start the clock ?

[dx100uk]

could do, but only relevant should they try court after what could have been the original SB date that your letter might have reset...

 

 

not going anywhere with no enforceable paperwork mind...

[sweenstar]

Ok Thanks, so we are sill going with the statute barred date of Feb 2018.....

 

It wont help clearing my credit report this year either

 

and I will wait to see if they produce a singed original credit agreement with the original terms and conditions.

[dx100uk]

are we???

the defaulted date might be that

but the SB date is something totally unrelated.....

 

 

dx

[sweenstar]

Are you saying that I would have to pay them off if I want mt credit file repaired any time soon ?

 

That is the conclusion I originally came to, hence the letter to them but they refused - even though they probably brought the debt for a small amount

[dx100uk]

never ever said anything will repair your file...

read your thread..the default is there for 6yrs no matter WHAT you do.

 

 

and again

Pay them..why?

[martin2006]

Go complete a CISheet and see if those charges make any kind if dent in the alleged balance.

Takes an hour or so to complete but could pop up a surprising result.

[sweenstar]

it will disappear on the 6th anniversary of first being in default (FEB 2012) which is feb 2018,

I guess it will appear in the closed accounts section of my credit report ?

 

"and again

Pay them..why?"

 

I wanted to get this done and dealt with so I could start repairing my credit file,

in the hope that it repairs quick enough for me to be able to get a new mortgage.

 

 

It will be next year before I think of moving house but I am preparing for it now....

 

What would be your suggestion on how to handle this please ?

 

Please also can you tell me where to find "CISheet"

[dx100uk]

no its not closed, its defaulted and expired IT WILL VANISH.

 

paying DOES NOT IMPROVE YOUR CREDIT FILE.

the debt is defaulted, end off whatever you do cant change that and its effect.

 

you can't 'repair' your file, urban myth portrayed by these stupid companies and card providers.

 

if you have no current running 'credit' of any sort to prove you can pay on time

then a line of running credit would be advantageous.

 

plenty of Barclaycard reclaiming threads to read here

and also you might find one if you click martins username...

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

[martin2006]

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011&p=4273920#post4273920

 

CISheet is in link above, list each charge oldest first, enter date , tyoe if charge and amount.

Use the interest rate they charged you, or an average if it changed over time. The sheet then does the rest for you.

Post it to thread once completed minus any personal info

[sweenstar]

Thanks guys, just starting to go through the statements, but unfortunately they only start from April 2008 - I will fill the form out with the info I have but at that point the card was already up to £5500 !

 

Just a little confused what interest rate they used as at the bottom of each statement it states :-

 

Cash interest charged at 1.736% per month

 

Merchandise interest rate charged at 1.313% per month

[dx100uk]

we usually use 24.9% is it martin??

we know they cough at that.

 

 

dx

[martin2006]

24.9% is the rate for BC as they use this rate for the "initial" card

 

You will need to read sempra metals v hmrc to understand why you should claim interest in restitution.

 

Doesnt matter what the balance was, all that matters for the purposes of this, is does the CISheet provide an amount which will knock a big dent in what they say you owe.

 

You can include default removal in the PoC of any later claim you may make.

[sweenstar]

Hello Guys,

 

I have added the amounts as per each statement I have from April 2008 till the last statement they provided (showing transactions) October 2009. I suspect there are a lot more charges added prior April 2008 ....

Barc.pdf

[dx100uk]

you cant reclaim cash advance

its not a penalty fee

[martin2006]

You cant reclaim the cash advance charges, they are legit.

 

You may need to SAR BC to get all the statements from day 1 but as you can already see, it may be the case that they owe you at the end of the day and alot more than they say you owe them!!

[slick132]

Hi Sween,

 

You can only claim - late charges; overlimit charges; unpaid dd fee.

 

Use 24.9% compound on these fees and just let us know the results look.

 

[sweenstar]

Sorry more readable version attached :-

 

Erm I have SAR Barclaycard and this is where I am getting this info from,

but I SAR them in 2014 and they sent info back as far as 2008,

do you think they would keep infomation back as far as 2001 ?

and if so why didn't they send it me in 2014

Barc1.pdf

[slick132]

Hi SS,

 

We've know the banks keep data way longer than the 6 years they admit to.

 

In the past, folk have threatened BC with the ICO for failing to provide data that we KNOW they hold; they have also taken court action to force disclosure and BC have complied.

 

The question is, Do you think data prior to 2008 would disclose a few; several; or many default charges.

 

Reclaiming older charges using compound interest can make a large dent in a/c balances when using compound interest.

 

[sweenstar]

Hi Slick,

 

Many thanks I will SAR them again using the standard template from the CAG library, I have also looked at the tips that Dx has provided and will follow the suggestions.

 

If they do not provide me with all the info I need I may have to "threatened BC with the ICOicon" as suggested.

 

I will update you when I get an update, Many thanks.

[sweenstar]

Good Evening all,

 

Despite me requesting Link to send a copy of the original credit agreement I haven't received one yet, but they did say it would take some time as they have to request the info from Barclay card..

 

I did SAR Barclay card, they sent me a letter back acknowledging my request but asking me to be more specific about what information I was looking for (think they are messing me around), Maybe they did not read the bit that stated "all information", I will have to send another letter to them now, any suggestions ?

[dx100uk]

just put that this is for your own financial records.

 

 

dx

[sweenstar]

Good evening all,

 

I received a letter from Link today :-

 

We write further to you in relation to your request for account documentation under section 77/78 of the consumer credit act 1974.

 

 

The original creditor has confirmed that they are unable to fulfil the section 77/78 request.

 

Although the account is currently unenforceable the outstanding balance remains collectable and it is acceptable for creditors to register and continue the reporting of a default.

We have enclosed a copy of the response provided by Barclaycard.

 

If we can be of any further assistance to you, or if you have any questions or queries in relation to this letter please feel free to contact me directly on xxx x xxx xxxx

[dx100uk]

HAHAHA link trying to spoof people again

how unusual.

 

 

dx