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  • FIRST POST
    • p3zzl3
    • By p3zzl3 7th Dec 17, 5:29 PM
    • 1Posts
    • 0Thanks
    p3zzl3
    Barclay Card Debt Clearance
    • #1
    • 7th Dec 17, 5:29 PM
    Barclay Card Debt Clearance 7th Dec 17 at 5:29 PM
    Hi All,
    New here, so I hope I've got the right forum. If not, can you move it please Mods?

    Situation:
    My wife has a credit card that was once a Goldfish card. After several companies bought them and took it over, and we've ended up with Barclay Card. We've not used the card in years and been trying to pay it off (was 15k) and are now down to £8.5k.

    My wife spoke to them today to see if we can settle the account for a lower amount, as this is so old it's us paying interest on interest on interest.

    They've agreed to settle it for 50% of the outstanding amount, which we can just about scrape up...just.... (It'll hurt for a year or so, but obviously worth it).

    After giving her all the details on the phone, the "Senior Manager" there said this is all on record on her file, and we need to make the settlement payment by end of December.

    However, this senior manager then said that they would not confirm any of this in writing, but a verbal assurance was good enough. Surely this can't be right?

    If there is technically an outstanding amount on the debt (which they say they will hold and do not sell) how do we have any legal proof this is the agreement?

    Can anyone confirm what "should" happen?

    Thanks all.

    P3zzl3.
Page 1
    • tallyhoh
    • By tallyhoh 7th Dec 17, 6:24 PM
    • 2,090 Posts
    • 2,138 Thanks
    tallyhoh
    • #2
    • 7th Dec 17, 6:24 PM
    • #2
    • 7th Dec 17, 6:24 PM
    I would only settle if it was in writing personally.
    Tallyhoh!

    Stopped Smoking October 2000. Saved £21,840 so far!
    • fatbelly
    • By fatbelly 7th Dec 17, 6:27 PM
    • 11,643 Posts
    • 8,777 Thanks
    fatbelly
    • #3
    • 7th Dec 17, 6:27 PM
    • #3
    • 7th Dec 17, 6:27 PM
    It's not good enough. If they agree to a deal, it's in their interest as well as yours to set out the terms in writing.

    Maybe if you phone and get someone else, and they can see the deal on your record, they can generate a letter to confirm.

    That's the 'nice' way to deal with it. Part of me wonders if they would be able to find the original paperwork if you did a cca request.
    • Karonher
    • By Karonher 7th Dec 17, 6:28 PM
    • 439 Posts
    • 2,006 Thanks
    Karonher
    • #4
    • 7th Dec 17, 6:28 PM
    • #4
    • 7th Dec 17, 6:28 PM
    I would only settle if it was in writing. I would also contact them asking for written evidence and if it is not forthcoming make a complaint.
    Getting ready for Christmas 2017

    Aiming to make £4,500 online in 2017.
    • beanielou
    • By beanielou 7th Dec 17, 6:31 PM
    • 49,035 Posts
    • 182,036 Thanks
    beanielou
    • #5
    • 7th Dec 17, 6:31 PM
    • #5
    • 7th Dec 17, 6:31 PM
    I would not touch it without something in writing.
    I am a cynic!
    Also agree with Fatbelly about wether they have the CCA.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • middleclassbutpoor
    • By middleclassbutpoor 7th Dec 17, 7:40 PM
    • 74 Posts
    • 111 Thanks
    middleclassbutpoor
    • #6
    • 7th Dec 17, 7:40 PM
    • #6
    • 7th Dec 17, 7:40 PM
    https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx
    • sourcrates
    • By sourcrates 7th Dec 17, 7:43 PM
    • 12,673 Posts
    • 12,011 Thanks
    sourcrates
    • #7
    • 7th Dec 17, 7:43 PM
    • #7
    • 7th Dec 17, 7:43 PM
    Part of me wonders if they would be able to find the original paperwork if you did a cca request.
    Originally posted by fatbelly
    My thoughts too.

    Send a CCA request first before you agree to anything.

    See what they come back to you with.

    https://www.nationaldebtline.org/EW/sampleletters/Pages/Information-about-your-agreement-under-the-Consumer-Credit-Act-%28sole-name%29.aspx
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
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  • National Debtline
    • #8
    • 8th Dec 17, 10:16 AM
    • #8
    • 8th Dec 17, 10:16 AM
    Hi p3zzl3


    As everyone advises above, it is never a good idea to make a full & final payment without a written agreement. Should you be contacted years down the line by a debt collection (DCA) asking for the remaining balance you will have no way to prove a full & final settlement was agreed.


    There seems no valid reason why your creditor would not agree to put the offer in writing. As fatbelly suggests, try calling them back and hopefully you will get through to someone else who will put it in writing. If that fails, try writing to them by recorded delivery. That way you should get a written response, hopefully confirming the agreement.


    It's a good idea to include this text 'I am making this offer on the clear understanding that, if you accept it, neither you nor any associate company will take any other action to collect or enforce this debt in any way and that I will be released from any liability.

    If you accept this offer, please confirm that you will mark my credit reference agency file to show that the above account has been paid and closed.'



    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
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