Barclaycard full and final offers don't exist!

Underpressure_2

I have recently made a full and final offer to Barclaycard along with Barclays my other creditor.

I received a letter today from Barclays saying that the offer had been declined with no explanation at all. I rang them to find out the reason but they could not give one. I have looked at the lending code and as i take it they are supposed to confirm in writing the reason for a declined offer.

I also phoned Barclaycard to see if they had received my offer, they said they had but do not consider full and final offers unless they were for the full amount. It took a while arguing with them to get them to send a letter to confirm this as they were not even going to respond.

A have had a look at the lending code and they seem to be in breach of this by not even cosidering a customers circumstances.

I will be contacting the Financial Services Ombudsman on monday morning to complain about both of these companies. Has anyone else had a response from either of these companies regarding full an final offers etc?

This was the last chance i had as I am now going to have to declare myself bankrupt

BugsyBrowne

To be honest mate they are right,they leant you the money and they want it back in full,

natweststaffmember

I hope you have reclaimed the charges on the Barclaycard including the £12.00 ones cos that will at least reduce the overall amount owing?

Underpressure_2

I have never disputed owing any of my creditors the money but given my circumstances and that I don't have assets to sell to repay the loans i had a family member that was willing to make an offer.

If they didn't accept the offer that Bankruptcy was the only alternative which they were informed of.

Both banks and building societies do sign up to the lending code and this is what i am disputing, the fact that they don't honour there obligations on this.

i am in the situation i am due to mistakes made by Barclays.

PNPSUKNET

why are they in the wrong saying they want nothing less than the full amount? If you lent someone a £10 would you only want £5 back

natweststaffmember

Underpressure wrote: »

I have never disputed owing any of my creditors the money but given my circumstances and that I don't have assets to sell to repay the loans i had a family member that was willing to make an offer.

If they didn't accept the offer that Bankruptcy was the only alternative which they were informed of.

Both banks and building societies do sign up to the lending code and this is what i am disputing, the fact that they don't honour there obligations on this.

i am in the situation i am due to mistakes made by Barclays.

Can you explain the last comment re mistakes cos that may still be something that can be resolved?

Underpressure_2

I am not saying they are wrong for wanting the full amout, who wouldn't, but........when you sign up the the lending code there are certain rules you sign upto which include:

Subscribers will deal quickly and sympathetically with things that go wrong and act sympathetically and positively when considering a customer’s financial difficulties.

Where the subscriber considers the customer’s personal and financial circumstances to be exceptional and unlikely to improve, the subscriber may, among other options, consider writing off or not pursuing part or all of the customer’s debt(s). Where write-off is requested by a customer or adviser but is not considered appropriate by the subscriber, the subscriber must give their reasons in writing. If the subscriber agrees to a write-off, then the debt may be registered as a default with the credit reference agencies.

Token offers may be accepted where the customer has demonstrated they have no surplus income available for their ‘non-priority’ creditors and there is a realistic prospect of the customer's circumstances improving. A token offer will not necessarily be sufficient to prevent the subscriber from selling the debt to a third party debt recovery agent and to prevent the debt from being registered as a default with the credit reference agencies.

In general, subscribers should then be prepared to accept an offer of repayment which is based on the principle of equitable distribution of available income (after priority payments), in line with the amount outstanding to each creditor. Alternative means of calculating the distribution of available income by the customer or their adviser may be agreed on a case-by-case basis. A subscriber may accept an offer of payment, even though the offer is not sufficient to enable the customer to be accepted onto a formal DMP.


Lenders have certain legal responsibilites to customers which they seem to ignore, that is my issue.

natweststaffmember

What are the mistakes you are talking of as I assumed you meant that there were errors that they had made which worsened your situation?

Underpressure_2

natweststaffmember wrote: »

Can you explain the last comment re mistakes cos that may still be something that can be resolved?

Certainly...

Barclays Bank Plc made an error on my credit file resulting in me not being able to secure more preferable interest rates from other lenders. This happened because I took out a new loan with Barclays, and they did not update the credit reference agency with information to show the previous loan being repaid, this lack of information resulted in my credit file showing ‘excessive borrowing’ which was not the case. A complaint was made to Barclays in which Barclays have already admitted being at fault and have apologized for an ‘oversight’.

Barclays would not offer my old interest rate and said that I would have to make a new application if I wanted a new loan. As I needed the funds I spoke to a Personal Banker at a Barclays Branch who said that the new rate on offer was 16.9% but if I took the loan, made all my payments on time and did not use my overdraft, I should be offered better rates, this has turned out not to be the case as I did just this and found out that the rate had actually increased despite never having missed any bill in the last 18 years.

I used to have affordable lending but when I needed to get funds urgently, i believe i was mislead by the personal banker.

The main credit file !!!! up stopped me getting decent rates when i should have been able to qualify for them as I had in the past.

Underpressure_2

As its the Financial Services Ombudsman that takes up all these issues, i will need to speak to them on Monday.

natweststaffmember

Underpressure wrote: »

Certainly...

Barclays Bank Plc made an error on my credit file resulting in me not being able to secure more preferable interest rates from other lenders. This happened because I took out a new loan with Barclays, and they did not update the credit reference agency with information to show the previous loan being repaid, this lack of information resulted in my credit file showing ‘excessive borrowing’ which was not the case. A complaint was made to Barclays in which Barclays have already admitted being at fault and have apologized for an ‘oversight’.

Barclays would not offer my old interest rate and said that I would have to make a new application if I wanted a new loan. As I needed the funds I spoke to a Personal Banker at a Barclays Branch who said that the new rate on offer was 16.9% but if I took the loan, made all my payments on time and did not use my overdraft, I should be offered better rates, this has turned out not to be the case as I did just this and found out that the rate had actually increased despite never having missed any bill in the last 18 years.

I used to have affordable lending but when I needed to get funds urgently, i believe i was mislead by the personal banker.

The main credit file !!!! up stopped me getting decent rates when i should have been able to qualify for them as I had in the past.

Having complained to barclays, what have they said to you?
How long did it take for them to resolve the initial issue with the credit reference agencies?