Mercers

missmilkwood

Hi,

I've now received a letter from Barclaycard in informing me my debt is now being dealt with by Mercers, I've googled I know they are Barclaycards inhouse debt collectors, and from what I understand from posts, they are right bstards. I've missed 3 payments so far, and my debt with them is around 9k. Previous to the past 3 months, I'd never missed a payment in 8 years. So I gather I will now be harrassed by them and not Barclaycard now.

I am not yet bankrupt, and am planning to speak to CCCS this evening to discuss my situation (again). My question is this; are CCCS or CAB able to negotiate my proposed payments to creditors instead of me going bankrupt. Therein, if I offer an amount to each (ie I offer an amount, not one drafted up by someone a la IVA etc). Sounds like a dumb question I know, but previously another poster suggested I personally contact my creditors and try to negotiate with them myself instead of going backrupt. Ie offer a creditor £50 a month or something. Has anyone done this, and were they successful? I would like to do this I think (or at least see how it would pan out), but I dont want to call the creditors myself after having bad experiences.

Anyone help with this? The letters I receive say they all want payment in full now and I cant do that!

singlegirl

Mercers

My experience with Barclaycard was, I only missed one payment and after only one month I was getting 5 or 6 phone calls a day, mobile and house phone and I owed them £3.5k

Sunnylooloo

Hi Missmilkwood

I have written to all my creditors (Egg/Mint/Halifax/Co-op) and I managed to get short term reduced about payments - normally up for review every 6 months.

It has helped me no end.

I had help from National Debtline - they have template letters and an income and expenditure sheet.

I did end up having to talk to some of them driect but all seem keen at least to get some payment.

For me it has given me the breathing space to get myself sorted, as basically it will all be down to the outcome of my divorce now whether I go BR or not.

I'm not sure how long the creditors will accept my payment and remember - it does really affect your credit history - just something to be aware of.

I'm not saying it stops all the phone calls or letters or threats as you still do get them from time to time, but now I know how to cope with them.

Also when I ring to make payments they always tell me o your account is overdue you owe £xxx.xx and I say yes I know I am on a payment plan - and they say o yes.. and they take the payment.

Good luck

O sorry forgot to say when I went to see the CAB she would've acutally written to my creditors on my behalf, I just found it personally easier for me to be in control and I have got some invaluable advice from people here and on another great site which has helped plod through this.

missmilkwood

Thanks! I understand it will effect my credit, but its getting battered at the moment anyway.

My debts are:
Barclaycard £9k
Barclays overdraft £1080
Cahoot £1800
Santander £5100

Can I offer a smaller amount to the ones that I owe less money too? Cahoot transfered my debt over to Santander anyway, would that now serve to be one creditor and not two?

This payment plan sound like a good idea, and I might aswell try it, the worse thing than can happen it that it goes tits up and I end up bankrupt anyway (which I was planning to do anyway). I am planning to change my mobile number too.

Lyndach

Personally my experience with Mercers was brilliant they helped me set up a manageable payment scheme and put the interest on hold until my debt was referred back to barclays.
I kept receiving the 'full payment' letters and I simply told them I couldn't afford it and told them my complete in coming and outgoings over the phone, so have that to hand if you ring them just incase they ask.

Sunnylooloo

It may be an idea to have a look here

http://www.nationaldebtline.co.uk/

I did originally speak to Payplan but there was no way i could've stuck to what they put down as my budget as they would not include things like my pet insurance.

If you use the form form National Debtline it shows you how the funds should be allocated.

Please bare in mind not all of them will accept the amount you owe and some might ask for proof such as payslips - to date I have never have to send them out.

Some of them say they only will deal with a debt management company such as payplan or CCCS - but that is untrue they can deal with you.

I did call the National Debline so I did get a reference number which I quoted on everything.

For the costs of the stamps I found it did help me.

As I said for me it has keep the wolves at bay whilst I come to terms with everthing.

I also did open a basic bank account with the Co-op and I have found I can manage my money much better now

I hope this is some help - it does take some time to do it all but it is worth while.

Feel free to ask anything else

missmilkwood

Thanks all. I opened a cashminder account back in March, all my creditors direct debits are in my old Barclays account.

I will speak to both National Debtline and CCCS this evening, and see what sits. Even if I go bankrupt, I know I will get an IVA since I'm working full time, so I am going to pay either way.

Sunnylooloo

Yep if I got BR I will get an IVA, however it would be easier to manage with an IVA than it would've been on DMP with Payplan.

It probably took me a couple of hours to sort out my budget sheet and then write the letters but it was worth it. I got letters back and for the most part after one phone call to each creditor a plan was put in place and in most cases interest was frozen and charges stopped - not in all but at least now I can acutally see my balances going down.

Before I did this I was just paying everying out and then havinging to live on overdarf or whatever was left on the CC and it was becoming a vicious circle and I felt it would never end.

I am hoping once my divorce is finalised and house sold I can make full and final offers to people - providing the ex plays ball and doesn't act silly and take me to court as in that case I know my only option is BR.

Anyway good luck with it all and let us know how you get on.

LL

missmilkwood

I was also pretty much living off credit before opening my co-op account, I really had no choice since the credit has run out. The worse thing is that I was never missing payments, but my rent/living/interest rates were all going up, I couldnt consolidate my debts with one loan to make it affordable, then my work bonus and payrise stopped because of the recession. I've been living on my nerves for a year, and before I opened my new account I was paying all my wages out on debts and leaving myself nothing to live on.

I might aswell try the payment options before bankruptcy, and at least weigh up my options. I'm just so sick of it all, the worry has really knocked my confidence and everything.

I hope your ex plays fair Sunny!

Doucam

Good luck with Mercers is all I can say, we had hell from them as Barclays Partner Finance handed dh's debt over after BR, it took 5 months of calls, faxes and letters and finally a formal complaint to get them to stop, they were unstoppable until then, wouldn't take anything we said for an answer.

Sunnylooloo

I know that before I started coming on here and speaking to the debt charities I would have just kept paying and paying. For the most part people have been helpful - even if it gives you a 6 month break it's something - although got something going on with Alliance and Leicester regarding a joint account with the ex and they are really shocking!!

Hmm ex playing fair..... I think I have got to the point when I have accepted things just to get him out of my life - means a lot more compromise on my part but hopefully worth it in the end!!

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