Worried about Barclaycard taking money from bank account

BeenieCat

Hi just a quick question really, and is something i mentioned in one of the threads relating to credit card companies taking debts from your bank account...

I'm expecting a DWP loan to be paid into my Barclays account, but i have Barclaycard chasing me as i've fallen behind with CCCS reviews and payments, which i will sort but it feels like such a mountain to gather all the info so that's on the list for Monday:o

I have a relative who once had a community care grant paid and Barclaycard swiped it all, she had real trouble getting it back and had to send in some proof that it was for her rent...

What's the best way to go about this?

Should i ring Barclays and ask them if Barclaycard have intentions to take money and ask them not to allow it?

Or should i ring Barclaycard and ask them if they intend to, and try to get them not to?!!

My friend seems to think i shouldn't ring either, as i'll be pre-warning them that i'm getting money paid in and then they'll definitely take it. Friend also says to withdraw it all as soon as it's paid in but apparently if they're going to take it they'll do it before i get chance!

izools

May I ask, is your income solely from benefits?

If this is the case, none of your creditors have any legal right to a penny of your income.

When calculating surplus money for creditors, remember that they are only legally entitled to what surplus you have from wages / salary. Nout from benefits.

Also... It is never a good idea to hold a bank account with a financial institution to whom you owe money in a debt management plan or similar, as you quite rightly say, they can take money through right of offset.

Calling them is unlikely to make a difference - they have a right to the money and don't care whether it means you won't be able to eat - hence not a good idea to hold an a/c with them!!


My advice:

1. Open a Cashminder account with the Co-Operative bank. This provides a full VISA debit card, but no chequebook or overdraft, so you can't get into trouble with it. Everyone is eligible for the Cashminder account, no matter how poor your credit. I held a cashminder account prior to being discharged from Bankruptcy and it's a neat little account IMO.

2. Recalculate how much you can REALISTICALLY afford to pay your creditors, using a budget sheet like this one. It's a good idea to inflate your expenses a little, not too much, just enough so that you have a little built in buffer so that if you do need to spend a little more one month on whatever it won't accept your negotiated payments with creditors.

You can then set up a standing order to each creditor or do it via CCCS again, your choice.

Obviously, your creditors / CCCS will need a copy of the revised budget sheet.

Good luck, and keep us posted

BeenieCat

izools wrote: »

May I ask, is your income solely from benefits?

If this is the case, none of your creditors have any legal right to a penny of your income.

At the moment, yes I'm single parent on IS, and am being paid a budgeting loan, and 2 maternity grants in the near future :eek:
The loan is expected to be paid in the next few days, along with my hipg grant, Surestart grant i haven't yet applied for...

When calculating surplus money for creditors, remember that they are only legally entitled to what surplus you have from wages / salary. Nout from benefits.

Thanks for that i didn't know, i haven't done a review with CCCS since i was working, and admittidly i have been putting it off for a while now

Also... It is never a good idea to hold a bank account with a financial institution to whom you owe money in a debt management plan or similar, as you quite rightly say, they can take money through right of offset.


My advice:

1. Open a Cashminder account with the Co-Operative bank. This provides a full VISA debit card, but no chequebook or overdraft, so you can't get into trouble with it. Everyone is eligible for the Cashminder account, no matter how poor your credit. I held a cashminder account prior to being discharged from Bankruptcy and it's a neat little account IMO.

2. Recalculate how much you can REALISTICALLY afford to pay your creditors, using a budget sheet like this one. It's a good idea to inflate your expenses a little, not too much, just enough so that you have a little built in buffer so that if you do need to spend a little more one month on whatever it won't accept your negotiated payments with creditors.

You can then set up a standing order to each creditor or do it via CCCS again, your choice.

Good luck, and keep us posted

Thanks, and thanks for that link i'll have a proper look at that in a mo. I know i should set up another account, although i don't think i'll be able to do it in time for the loan going in.

Last time i answered the phone to the collection agents for BC i asked them if i could pay a token payment, they said yes, of £70 :eek: I said no i was thinking more like a fiver :rolleyes:.
They said they couldn't take that little an amount but i was told top ring BC directly and explain, and i didn't as i didn't have any money to pay them (at all!)

NickX

BeenieCat wrote: »

My friend seems to think i shouldn't ring either, as i'll be pre-warning them that i'm getting money paid in and then they'll definitely take it.

I would agree with your friend. I very much doubt whether calling Barclaycard will make any difference.

My advice is do not get the funds paid into a Barclays Bank account, otherwise it is at risk of being taken by Barclaycard under their right of offset.

Set up a non-linked account NOW, and get the funds paid in there where they are going to be safe.

Good Luck.

BeenieCat

I'm a little worried that i've left all this too late, which wasn't too bright of me given i knew this was a risk when i applied for the money!

BeenieCat

Seems i was right, i've just rang DWP and they said they can't pay me any other way now that they have my bank details it'll go into there :huh:



Does anyone know if i make a (small) payment to BC it'll stop them taking anything?

BeenieCat

I have worked since leaving school despite being a single parent for most of that time but unfortunately was made redundant earlier this year, but i discovered i was pregnant soon after - and my partner has higher earnings potential than me so he was supposed to be supporting me throughout the pregnancy! Little did i know he would take off and leave me in the !!!!!!.

I don't even know why i'm bothering to explain myself, but being unemployed is not my lifestyle choice, it's just temporary until i have had my baby.

izools

Bingy that's not fair, we're talking about a single parent here not a childless couple on IB too stoned to work!

Ignore him beenie.

I'd still reccomend you get the Cashminder account set up right away - no procrastinating!! And the moment the money goes in from the DWP draw the cash straigh out so that Barclaycard can't get at it (I'm seeing you logged in to barclays online banking at midnight in a few days then running down the cashpoint in the wee hours LOL)

And once you have recieved the account number and sort code for your cashminder you can call the DWP and Jobcentre telling them to make future payments into that account.

It can sometimes take a bank or credit card company a few days to react to money in the bank before claiming their right of offset.

Good luck, you'll be alright I'm sure

BeenieCat

Thanks izools, i will definitely get another account. I don't know much about them but i'm wondering if such accounts have online facilities, and debit cards (to use in shops)?

I will do some research on that

Also thanks for the info on the possible time delay in BC taking the money, i was convinced they'd somehow know in advance i was getting money and take it before it even technically hits my account, so it's slightly less worrying now! DWP said if i ring on Monday they should be able to tell me the exact day it's going in.

Now, must get back to smoking my 60 fags a day and watching Jeremy Kyle on my 70" TV which the taxpayers kindly provided me with :rolleyes:

(that's definitely a joke:eek:)

izools

As I say the Cashminder is a very good bet.

They offer a FULL VISA debit card (Not electron), Online Banking, Standing order and Direct Debit facilities, but no overdraft or chequebook.

The account is hardly credit scored, anyone can get one except someone with CIFAS Fraud markers on their report. If you have defaults etc chances other other banks would only give you a cash card.

I'd reccomend them from my own experience, and if you are on the electoral role you can open the account over the phone without sending in ID.

http://www.co-operativebank.co.uk/servlet/Satellite/1193206368743,CFSweb/Page/Bank-CurrentAccounts?WT.svl=copy

The alternatives are Netwest Step account (Solo debit card), Halifax Easycash (Visa Electron), Lloyds TSB Cash Account (Full Auth VISA - doesn't work everywhere).

Good luck, and keep us posted

ExNicotineQueen

Just out of interest, how do you pay money into a Co-op account if you don't have a Co-op bank nearby? Say you had a cheque, would you have to post it or can you use the Post Office?