Barclay Card Final Offer

Hannah_betts

Hi,

I have had approx 5000 on my barclaycard for the last 2+ years which I have been unable to pay off. For about a year, I had a repayment plan where they stopped the interest and I was paying about 50 a month on it. I stopped this about 5 months ago when I could no longer afford to pay that either. I have been offering them a 'partial settlement' (where they take a lump sum and it's marked on my credit file for 6 years) for over 6 months now which they've refused. (MBNA accepted the same offer, about 30% of the 8000 I owed them). It has been passed on to mercers now who I have spoken to a couple of times, and they say they won't accept my offer of 1438 pounds, and they will continue to take further action. I've been living in the States for the last two years, and they said on the phone to 'remember that Barclaycard is an international company and does have debt collectors in the US'. I'm starting to get a little worried now. I can't afford any kind of payment plan, and there is literally nothing the debt collectors could take other than my tools for work. Should I just keep sticking to my guns with my final offer? Help please!

fatbelly

Yes, 'stick to your guns'!

Have they given you a figure? If not, ask them what they have in mind.

If they want 70% for instance, you could consider trying to meet them half-way at 50%.

Mercers are part of Barclays so this debt hasn't gone anywhere yet.

Your best tactic is probably to keep making the 30% offer - eventually they will consider selling the debt on, probably for less than that figure.

gabriella90

Hi,

Mercers aren't meant to be very nice to deal with. As said stick to your guns, they're probably just using scare tactics to get you to cough. If you can from the states try and send the letter recorded delivery o so you have a record of it.

good luck

Hannah_betts

following on from my last post, I received a letter from Calder Financial, to which I replied with the same offer in writing, explaining that my circumstances haven't changed. I've now received a second letter from Calders (no mention of my offer) saying 'Barclaycard have informed us that as we have not been able to arrange a satisfactory repayment on this account they intend to sell this debt. Once sold, you will no longer deal with Barcalycard regarding this debt. The new owner will be responsible for any action taken tot recover your debt'

Any further advice on my offers? Who will this debt go to and what will/can they do?

fatbelly

Hannah_betts wrote: »

Any further advice on my offers? Who will this debt go to and what will/can they do?

Again, Calder is part of the Barclays empire, so the debt hasn't gone anywhere yet.

The debt will be sold to whoever gives them the best offer. So could be one of any number of companies. They will then chase the debt in the usual manner - lots of misleading letters and threatening/lying phone calls (if you make the mistake of giving them a phone number)

As Barclays are likely to sell for under 25% of the balance figure (maybe a lot less than that), you would think your offer of 30% in F&F should be accepted now.

Try one more time with your letter. If you can block your phone number so that they cannot see it, you could try phoning Calder (this is the one occasion when it can be useful to talk to a creditor/DCA).

Fingers crossed for you...

(edit - of course if it doesn't work, you start the process again with the new owner)

kipkipper

Hi Hannah, I was wondering if you'd heard any further news on this? I'm in a not dis-similar position so read your story with interest. Would appreciate hearing how you got on with your final offer efforts?

Billy_two_speakers

Hannah_betts wrote: »

Hi,

I have had approx 5000 on my barclaycard for the last 2+ years which I have been unable to pay off. For about a year, I had a repayment plan where they stopped the interest and I was paying about 50 a month on it. I stopped this about 5 months ago when I could no longer afford to pay that either. I have been offering them a 'partial settlement' (where they take a lump sum and it's marked on my credit file for 6 years) for over 6 months now which they've refused. (MBNA accepted the same offer, about 30% of the 8000 I owed them). It has been passed on to mercers now who I have spoken to a couple of times, and they say they won't accept my offer of 1438 pounds, and they will continue to take further action. I've been living in the States for the last two years, and they said on the phone to 'remember that Barclaycard is an international company and does have debt collectors in the US'. I'm starting to get a little worried now. I can't afford any kind of payment plan, and there is literally nothing the debt collectors could take other than my tools for work. Should I just keep sticking to my guns with my final offer? Help please!

how did you fund 2 years in states ?

themull1

How could you not afford fifty quid a few months ago, now want to offer over a thousand pounds in a full and final settlement?