Barclaycard say my token payment is not enough! What do I do now?

Mics_chick

I got a letter from them this morning that says:
"Regrettably, we are unable to accept your current offer of repayment as this is too low."

I've sent them my budget to show that my outgoings currently exceed my income therefore I can't afford any more so what can I do now???

Tixy

Hi, these types of letters are not uncommon. But as you cannot afford anymore you should just continue to make the payment you have offered every month.
They may accept in the end (even if they say they won't), or they may pass your account to their collections department or in house DCA who you should just make the same offer to.

Are you expecting to pay token payments for quite a while? Or is it a short term issue until you can increase your income or reduce your expenditure?

podperson

You have done all you can with it.
Unfortunately some companies can be unreasonable with accepting lower payments. You have made them a reasonable offer, just make sure you keep making it to them on a regular basis. If they ask for extra it's tough because you don't have it. If they do pass it to a dca simply tell them the same thing. Hopefully once they start getting regular payments they will leave you alone.

DGJsaver

Nothing other than (whilst its still in BCARDS hands) the contractual amount will be enough

As tixy says , pay what you can , end of

amersall

I had a barclycard passed over to in house dc, they accepted my payment and did not even ask for a income and expenditure !!! thats good for barclays

Mics_chick

I have sent them the following letter to try and appeal to their better nature... (if they have one?)

Dear XXXX

Re: Token payments

This morning I received your latest letter, dated 22nd July, and, frankly, I was very confused by it. I sent you a full household budget with my previous letter, which showed that my basic outgoings exceed my current income by more than £100, and yet you are asking for higher payments. I feel it is obvious that I can not even afford a token payment but I know that I must pay something to show my good intentions.

I see the token payment as a short-term arrangement because my partner and I are endeavouring to reduce our spending and increase our income as much as possible as soon as we possibly can. Our finances are in a state of constant change at the moment but as soon as they are more stable, I intend to send you an updated copy of our budget. I am hoping this will take no longer than 2 to 3 months and that I will be able to offer you a higher payment at this time.

In my previous letter, I forgot to include a list of my creditors so I have enclosed it this time to give you a fuller picture of my current financial situation. I also asked you to consider reducing or stopping interest and other charges on my account and I would appreciate a reply to this request.

I have replied promptly, as you requested, in the hope that you will reconsider my offer of a token payment, even in the short term.

Yours faithfully

I hope it doesn't sound to "crawling" ??? That's not my intention - I just wanted to be polite coz they're only doing their job at the end of the day...

DON79

they don't have a better nature so don't expect anything other than a similar letter & lots of calls requesting payment followed by letters purporting to be from an external debt collection agency when it is really their inhouse collections team. Just pay the token payment that you have shown is all you can afford. best of luck with it.

mr.ton

Mics_chick wrote: »

I got a letter from them this morning that says:
"Regrettably, we are unable to accept your current offer of repayment as this is too low."

I've sent them my budget to show that my outgoings currently exceed my income therefore I can't afford any more so what can I do now???

Typical greed from these sharks.
They will accept what you offer them in a like it or lump it sort of way.
If they play funny sods then report them to the OFT

tallyhoh

Of course they are going to say its not enough, their job is to get as much money off you as they can, they have targets.

If its all you can afford they can't have any more, they can take it or leave it.

Pott5y

I must admit Barclaycard for me have been one of my better creditors there are a lot worse out there.

Try not to take the letters they send to you personnally. They are just standard template letters. The person at Barclaycard isn't really paid to think!! They just look at what you are offering see it doesn't match what they want and then say no. I have had instances (lots of them) where I know by the reply I got that they had not even read my letter properly.

I found that after a few turse replies from them and a few token payments from me they realised that they were not going to get anymore so agreed to freeze interest and charges and accept the payments.

Just remember to always contact them by letter and do not agree to anything over the phone.

Good luck.

pepe2008

I agree with Pott5y, they seem to go into overdrive for a while and then it just peters out and they accept what you first offered.
Maybe our names come up on a list now and again and some poor, bored, nameless 'person' has to send out some letters.
Trouble is, when you ring up you normally get their usual 'Customer Abuse' line and they were always rubbish when dealing with normal Customers let alone those of us with a debt to sort out.
Tick their boxes, send them you Income and Expenditure and they will go away.
Failing that, let it go to their in-house collectors ( Mercers ) and they will be easier to deal with, believe it or not....but tell them straight away that you will only communicate in writing.