existing barclays customer, no loophole for me

maygav

Hi there,

I need a bit of advice. I have a Flexi Rate Card from Barclays but am having problems paying it of, as when I pay less there is a bigger interest.
However I called them thinking they might do something for me like the loophole(unfairly it is only to transfer money onto your existing card). I need a lower interest and the guy told me that the 6.9% is for other balance put on my card and that he cannot do anything for me.

I even said that I prefer to stay with them but nothing.

I cannot apply for a new card as i do not think my credit rating is very good. I was doing advent computer course and they went into administration. However Barclays partner finance were providing money for it, which i have never had in my account. now they still want us to pay with a ridiculous interest, so there is a class law suit against them. However we were advise to stop paying by lawyers and barclays partner finance refused to put my account on hold so my credit rating is gone.

Can anyone help? is it worth thinking about IVA?

izools

If you fall into arrears on a credit card account and then write to them stating you are suffering financial hardship and you propose a monthly repayment figure in line with affordability in exchange for them freezing interest they are likely to do this but in exchange for putting an "arrangement to pay" marker against your Barclaycard account but this won't be nearly as bad for your credit rating as for your Loan which, from what you say, has fallen far into arrears.

FYI Barclays Partner Finance have to offer you a settlement figure if you ask for it. The settlement figure won't include interest for the whole length of the loan but will include a early settlement fee.

This is legal and detailed within the terms of the loan you agreed to when you took it out.

If you feel this is unfair as a result of Advent going into admin, your giff is with Advent - for them to pay for financial loss caused to you resultant from them not being able to deliver what they agreed to originally.

Good luck with everything!

maygav

Thanks, I will try them again.

The advent situation is a lot more complicated. In the contract it states that if advent goes into administration, the contract with Barclays PF becomes terminated immendiatelly. But as you know these firms they have a way around it.