Barclaycard

fedrightupgirly

Sorry if I am posting this in the wrong place, I just need some guidance asap please!

I originally wrote to Barclaycard last June about my two cards with them and the fact that they had been charging me PPI which i never asked for since the cards were taken out. They failed to respond which resulted in me going to FOS and I received a letter back on the 9th Feb saying that they agree they are in the wrong and offering to reimburse me £24000 plus interest! Great news here BUT...they want to pay off both cards (both owe 8k each) and send me balance.

I dont want to do this as both cards are now being held with an outside debt agency and i pay a reduced monthly payment. So my questions are as follows:

1. do I have a choice what happens with the money?
2. can they favour themselves as a creditor
3. As both cards are defaulted, surely if i was in a position to clear a debt in full then surely the Company would take a reduced amount (ie 75% or something?)

I have written back to BC 3 times now saying what i want to happen and they just keep telling me they never receive my letters so I am just going around in circles at the minute

My financial situ is pretty bad at the minute and I this money would enable me to clear things and resume a normal life.

Please help!

CannyJock

fedrightupgirly wrote: »

I received a letter back on the 9th Feb saying that they agree they are in the wrong and offering to reimburse me £24000 plus interest! Great news here BUT...they want to pay off both cards (both owe 8k each) and send me balance.

I dont want to do this as both cards are now being held with an outside debt agency and i pay a reduced monthly payment. So my questions are as follows:

This sounds a bit like looking a gift-horse in the mouth.

If the cards were originally issued by Barclaycard and you defaulted on them, then it seems perfectly fair that the repayment is offset against these cards first. Obviously the amount you've paid to the debt collection agency so far would need to be deducted.

If anything, I'd be looking for a compromise with Barclaycard that they can have the payment on the condition that they do not report any default or negative data to the CRA's. Or is your credit report completely trashed and two less defaults won't make any difference?

EDIT: Are you saying that you haven't been sending the letters recorded delivery? Even when they said they didn't get the first and second one?

fedrightupgirly

CannyJock wrote: »

This sounds a bit like looking a gift-horse in the mouth.

If the cards were originally issued by Barclaycard and you defaulted on them, then it seems perfectly fair that the repayment is offset against these cards first. Obviously the amount you've paid to the debt collection agency so far would need to be deducted.

If anything, I'd be looking for a compromise with Barclaycard that they can have the payment on the condition that they do not report any default or negative data to the CRA's. Or is your credit report completely trashed and two less defaults won't make any difference?

EDIT: Are you saying that you haven't been sending the letters recorded delivery? Even when they said they didn't get the first and second one?

I do understand what you are saying and its not case of me turning my back on the debt with BC - and I am very pleased with the offer of the 24k in total however i was trying to see if this was the normal procedure to pay off the debt first or would they normally reimburse you first?

CannyJock

fedrightupgirly wrote: »

I do understand what you are saying and its not case of me turning my back on the debt with BC - and I am very pleased with the offer of the 24k in total however i was trying to see if this was the normal procedure to pay off the debt first or would they normally reimburse you first?

They'll offset first.

You'll find other posts where people have had money taken from their current account to pay back debts. Google "Right to Offset" for more info.

fedrightupgirly

ok i just wanted to know the procedure

johnderby09

Sorry to go off track here...

I have a Barclaycard and am unsure whether I'm being charged PPI or not. Would it be split out as a different line on the statement, or is it rolled up in the "Interest" charge?

Thanks for any help.

fedrightupgirly

On the statement it shows under the section for monthly transactions, would show all charges to account including interest