Need advice regarding debt consolidation!

sherrybobbins

Hi all,

Although I am new to post, I am a long lasting fan of this site but need advice pls!!

Due to my husbands redundancy 2 years ago we had to consolidate our debts (2 of his loans and 2 of mine) as we couldn't afford to pay them all individually. We went with PayPlan who have been great up until last March. It came to the yearly income/expenditure review (which we completed promptly) and now get constant calls from 'Barclays Finance' (one of my loans) saying that they haven't heard from them. Barclays have been putting charges onto my account because of this fact and it's now spiralling out of control!! Barclays had taken over from 'Clydesdale' I think thats why we had never had problems before.

Our other loan companies didn't have any problems and have happily accepted what payplan offered and never contact us anymore. Barclays on the other hand are calling daily and sending letters regularly, I have told them of the situation with Payplan on more than one occasion and vice versa but the problem seems to be with them contacting each other.

I am at my wits end with both companies as I seem to contact both fine but they both keep saying they are awaiting a response from the other!!

Please help! What are my options now?

Thanks for reading

RAS

Hi

We have had a number of people not being happy with the response from Payplan recently. Can you make absolutely sure which account Payplan are paying the money to, as the issue seems sometimes to be the money is going to the wrong account, or sometimes that the creditor has lost the incoming money and it is in a suspense account somewhere.

sherrybobbins

Hi RAS

Yes I can review all the actions Payplan are doing online and it seems they have been sending Barclays money every month. I've told Barclays this but they say they haven't agreed to the monthly amount therefore isn't meeting the minimum payment. It's all so confusing, I don't understand how the communication is so bad between the two?

Thanks again

RAS

Hi

It sound like this is not the problem. You may need to re-title your thread.

The whole point of a DMP is that you are unable to meet your minimum payments each month, so the creditors get what is available pro-rata. Barclays are trying to play hard ball and because you are letting it get to you, they are working you like a fish on a hook.

You need to write and tell them to stop talking to you on the phone, stop writing to you and to deal with your nominated account manager at Payplan, as is your right under the OFT Guidelines. And if they do not play ball suggest that you will talk to the OFT.

sherrybobbins

Hi

Thanks, will give that one a try and hopfully sort it out soon!!

Thanks again