Barclaycard debt advise welcome.

very_skint

I am planning to get a report from Experium soon as I am not quite sure, been to scared to find out.

I think most of it should be old stuff like catalogue debts, rent arrears, many many applications for credit (before I new about the damage and roughly how it worked).

Do you think the £2 report will provide the info I need?

YorkshireBoy

very_skint wrote:

Do you think the £2 report will provide the info I need?

Yes. There are direct links for ordering your £2 copies from the 2 main credit reference agencies in the first post in this thread...

http://forums.moneysavingexpert.com/showthread.html?t=51087

You can pay by debit card and they'll send them within 7 working days.

very_skint

Thanks, just doing the online one at Experian.

Come across this bit when you enter "My spouse/partner's details":

"You do not have to complete this section but it helps us ensure our records of you and your partner reflect the most accurate picture of your credit relationships. If you provide this information, we will update our records to show that you are financially connected to this person at your current address. A link, known as a financial association, will be placed on yours and your financial associate's records, so that yours and their records will be taken into account if either or both of you make future credit applications. This link will remain until one of you notifies us that you are no longer, or have not been, financially connected."

Now I think some of problems would have been my wifes catalogues etc as we had debt collectors on our backs for those.

I think I should apply for sole report as in myself only,

But then again a joint report will show exactly what the problems are, should it?
what do you reckon?

YorkshireBoy

very_skint wrote:

what do you reckon?

If you have a joint current account, joint mortgage, or other joint credit eg loans, then there will already be a financial association established with the CRA.

If I was you I'd play it straight down the line. Be honest with yourself - as well as with the CRA.

very_skint

Nice one, I'll take your word for it, I'll finish the application now and then I better get some kipp, gotta be up early, I let you all know my progress.

Thanks for all your help so far.

very_skint

Just to let you know I spoke to Barclaycard today, (had to use the 0870 number as none of the freephone depts would transfer me).

They said they would not stop the interest, the only way for them to look at it would be for me to go to the 'Consumer Credit Council' and get written proof of my hardship.

'Consumer Credit Council' Phone number 08001381111

I said I wanted my phone calls dedeucted from the balance as it was unfare they were making money from me trying to save money. They said to put it in writing and they may consider it.

mountainofdebt

will transfer you, use the number quoted on the back of the statement for phoning from overseas, remembering to add on the omitted '0'.

Have always worked for me and if they ask yes you are phoning from overseas!!!

As mentioned before post all your outgoings and income and I bet we will be able to find at least £16 per month extra for you to throw at this debt.

You mentioned that you are paying £10 a week - do you actually pay Barclaycard £10 a week or you wait and pay it monthly? One additional way of reducing the amount of interest you pay may be to actually pay Barclaycard the money on a weekly basis - interestly enough it states on the back of a Barclaycard statement that if you aren't paying the balance off in full then the sooner the payment is made, less interest will be payable next time.

The only problem I can see is making sure that you have paid enough into Barclaycard to cover the monthly payment although I guess this could be aen care of by monitoring your account online.

very_skint

Thank you very much I will remember that for next time.

I have recently switched to paying £10 pw instead of the agreed £40 once a month, as i thought it may help the interest and would be easier to manage. Havent seen any significant drop in interest but havent had any problems either.
I pay using standing order the day after my wages go in so that I cannot forget and I know the money should be there.

I also asked this question to Barclaycard:
"What if I just stopped paying it all together?"

They said basically you would get reminders, default, passed onto a debt collection agency.

I then said but then i could offer to pay half and finish with it.

She actually agreed and said that not all agencies work the same but it is possible. I could also offer Barclaycard a final settlement but it was more likely to be more like 80-90%

I am about to amend my standing order to £15 pw until I find something better to do.


I will post income and expenditure eventually but we are just paying bills (cheapest suppliers in our area) and buying shopping (using a budget)


We are not always badly overdrawn like we used to be and havent been charged fees for a while as we have managed within the last week due to xmas money etc to create a small but helpfull buffer, as most things went out before wages etc went in.

I want to get rid of this debt a.s.a.p but dont want my bank to be permantly overdrawn like it used to be.