Barclayloan Advice

DGJsaver

Morning

Just a quick bit of advice!
Myself and my wife are in a position where we are about to default our Barclay loan , we were hoping to speak to someone about it though , does anyone know if we can discuss it with someone at our local branch , or will we have to call a certain number ? as at the time of taking it out in 2004 we did it online…we just want to make sure whoever we see has got the authority to make decisions regarding maybe a restructor or something , we don’t want the embarrassment of sitting there for an hour in the branch only for the computer to say `no` !

Any advice welcome!

Cash_Flow

DGJsaver wrote: »

Morning

Just a quick bit of advice!
Myself and my wife are in a position where we are about to default our Barclay loan , we were hoping to speak to someone about it though , does anyone know if we can discuss it with someone at our local branch , or will we have to call a certain number ? as at the time of taking it out in 2004 we did it online…we just want to make sure whoever we see has got the authority to make decisions regarding maybe a restructor or something , we don’t want the embarrassment of sitting there for an hour in the branch only for the computer to say `no` !

Any advice welcome!

When you say default do you mean you have recieved a default notice or that you are about to miss a payment?

Also if you took out your loan in 2004 I would of thought you can not have many payments left?

DGJsaver

Cash_Flow wrote: »

When you say derfault do you mena you have recieved a default notice or that you are about to miss a payment?

Also if you took out your loan in 2004 I would of thought you can not have many payments left?

Well , it was 24k and is £280 a month for i think 7 years ?

And i mean , from octobers pay , we cont be able to afford all our credit agreements in full !

Rafter

DGJSaver,

You won't technically 'default' until you are more than just one payment behind. You are better to be prepared and to be up front. If realistically your income is now less than your outgoings and you don't think that is going to change in the short term, then you need to negotiate with your creditors what you can realistically pay. If the situation persists longer term, you may need to consider a more formal arrangement.

I strongly suggest you call National debtline, CCCS or your local citizens advice who will be able to help you - be up front and honest with your creditors too.

Might be worth filling out a 'statement of affairs' too - that will give you an idea about how much 'surplus income' you have and how much you can realistically afford to pay.

Good luck

R.

http://www.makesenseofcards.com/soacalc.html

DGJsaver

Rafter wrote: »

DGJSaver,

You won't technically 'default' until you are more than just one payment behind. You are better to be prepared and to be up front. If realistically your income is now less than your outgoings and you don't think that is going to change in the short term, then you need to negotiate with your creditors what you can realistically pay. If the situation persists longer term, you may need to consider a more formal arrangement.

I strongly suggest you call National debtline, CCCS or your local citizens advice who will be able to help you - be up front and honest with your creditors too.

Might be worth filling out a 'statement of affairs' too - that will give you an idea about how much 'surplus income' you have and how much you can realistically afford to pay.

Good luck

R.

http://www.makesenseofcards.com/soacalc.html

Thanks mate

i have done a SOA on the debt free board , am worried sick now that as my wife banks with barclays , they will just keep taking the loan out month after month from an account with just a £250 overdraft , meaning before we have got anywhere the current account has not got the household money in it and we will be hundreds in debt with unauthorised fees !!!!

:eek:

LeeSouthEast

Speak to them urgently. You won't be 'in default' for a few months yet, so now is the time to get something in place. A restructure is certainly not an impossibility, especially if your credit is still good (for now at least).