Default on Barclays loan

intrigued_2

Hi all I've got a couple of quick questions about a default notice I received from Barclays today.

I have a dispute with Barclays over this loan account as it should have been cleared and closed off 3 years ago. The Financial Ombudsman is looking into the case at the moment.

Anyway, I received a phone call from Barclays collections the other day telling me that I was behind for September's payment and asked me if I could pay. I said that I could neither afford to nor was willing to whilst the account was in dispute (I realise that I should still make payments to protect my credit file as I have never missed a payment but I honestly can't afford £500 a month that I didn't budget on paying). Anyway he said that they would default me and terminate the agreement so today I received said default notice.

Three questions about this situation.

1. I have never received any letter notifying me that I am in arrears on the account just the call. I thought they had to issue a notice of your arrears before they could default?
2. I thought you had to be at least 2 months behind before being defaulted according to the CCA?
3. Finally, the default notice doesn't state the amount due so does this make it invalid? It states that if I don't comply then the full balance of £5,500 will be payable but under the section of how to remedy the breach it just says "payment of arrears" without any actual amount.

Thanks for any advice!

intrigued_2

It appears that they have also sent two default notices. One to my address and one to my parents.

I also thought they couldn't send more than one? Neither of them say copy on them. I'm going to go pick it up now and see if it has anything different on it, like the amount of the default!

PNPSUKNET

what is the actual wording, also what was the term of the loan etc

intrigued_2

The bit that I have issue with is this:

A breach of the above notice has taken place.

The provision of the agreement breached: the requirement to make regular loan repayments

Nature of the breach: Failure to make monthly payments

To remedy this breach you are required to take the following action on or before 05-11-2010: payment of arrears.

It then has what I believe to be the standard text of what happens if I comply before the date and what happens if I don't.

The agreement was a fixed term loan which I gave them funds to pay off early. Instead they left it sat in a current account (that I asked them to close) taking the monthly payment so interest carried on being charged on the loan. Despite repeated attempts they never cleared the balance and now claim the settlement (in 2007!) was short. However they have been unable to provide any details of what they now believe the settlement figure was and how short the funds I gave them were.

As I say the Ombudsman is reviewing the case. The first decision didn't go in my favour but I then received a call to say that the adjudicator looking at my case had left and they were reviewing all his cases, especially mine in the light of some new information they had. I also pointed out some key aspects of the CCA that Barclays have not adhered to.

I have told Barclays I'll fight them in court as I have paid them back what I borrowed including interest at the point I made them the final payment. I'm not trying to escape my debts, I strongly believe that if you borrow it you pay it back, regardless of what ridiculous APR you might have ignored when you initially took the money.

simon_the_poet

where thre any figures on the default notice?

Did you ever recieve a termination letter