I owe £7k do i have a case for barclays being unresponsible lenders.

[Deleted User]

its good they reduced to 5 and a half k
good luck!

onlypaddy

yakface77 wrote: »

You lot are very untrusting to say the least

Yes, because your story makes no sense.

I am in a position to pay, and yes i am waiting for it in writing, but after taking the persons name, extension and recording the conversation myself i am confident the agreement will stand.

So - you're waiting for it in writing, but yet at 6:48 you'd already paid them "it's the bank's money and now they have it back"

I fail to see why you are jumping on a bandwagon, ive openly admited i know the right thing to do is pay, im hardly going bankrupt and wiping out 100k+ of debt am i???

No you haven't, you've started a thread on a forum for money saving tips, whereas you clearly mis-read it as https://www.icanpaywhatiowebutjustdontwantto.com. if you wanted to pay it then we wouldn't even be discussing it

Yes i have known i will have to pay one day, i guess with the interest i have paid for coming close to 2 years now, there is room for negotiation from their side, and also charges at the installation of the facility. They can right it off without an adverse affect, and NO I HAVE NOT OR HAVE EVER NOT DEFAULTED.

Lenders only accept full and final settlements from delinquent and defaulted payers. Usually when it's already been passed to a debt collection agency.

I realise i have angered many of you at the thread,

yep

but i thought maybe a wind up title may give me the responses and views i need.

my !!!!!

Wasnt their a board on here and letter template to encourage people who had credit cards pre 2007 ??

there are template letters to claim mis-sold Payment Protection Insurance from loan companies and credit card providers, when it was sold at a premium and often useless. There was also reclaim letters for extortionate bank charges but that's fallen by the wayside.

The whole purpose was to encourage people to get their debt wiped off for free due to loopholes ???

The debt 'wiping' loopholes do nothing of the sort. The most you can get is to have the debt deemed unenforceble in extreme circumstances, which means companies cant force payment through the courts. The debt is still defaulted and reported to the credit reference agencies ruining any chance to get credit in the near future.

Hardly worlds apart i think.
goodbye :-)

There is a world apart from people who don't have the means to pay but try anyway, and people who do have the means but just dont fancy it.

my answers above in red

yakface77

Onlypaddy:- Thanks for your time to answer. seriously :-)
I am very far from easily affording to pay. I struggle like most of us.
Many people are 'skint' when they have little savings, my skint is waking up and hoping that the phone will ring with work for me so i can remain within my authorised overdraft. This happens a lot.
I feel rich this month as i am in the black in my current account by 200 pounds, and feel that i wont be hastled to pay anything for at least a week.although i owe council tax for 3 months, have a plan in place for my mortgage and if i won £20k on a lottery licket i wouldnt even notice the difference to my family life, as it would barely make a dent on my overall debt.
Please dont judge my situation from a few misplaced words, i keep down 3 different self employed jobs to try to make ends meet.i certainly dont have 5k in spare change.lol
I said ' i was in a position to pay', im confident they will stand by the agreed amount, and i did question the possibility of adverse credit due to a lesser amount, of which i was assured we 'are prepared to negotiate to 60-80% of outstanding balance in these kind of circumstances. They agreed that they were partly to blame as 'they changed the product without an agreement in place.When the interest and setting up fees are deducted its not far off the £1500 discounted price.

I will see how this manifests and if all that is promised this evening does come into my favour without adverse credit affects. I will report back, thats if you believe me. lol
off to bed now. thanks again for replies. :-)

kaych

i was pretty annoyed when i first read the post. i seriously do not understand how people spend money that they don't have... (apart from mortgages, coz not everyone has thousands and thousands of money just lying around)... but was impressed that OP managed to get £1500 off the original bill... wow well done! really 'money save'!!

Bloomberg

yakface77 wrote: »

This is a funny one, as in 2009 i remortgaged from woolwich to c+g, i had a woolwich mortgage reserve account which i had used £15k of.
When i redeemed the mortgage, the woolwich reserve changed to a current account, and still allowed me to use the 'reserve limit of '25k' even though in writing it told me it was shut down when fully redeemed.
The temptation was too great and i spent £7k just as 'income' to get by. Now they want it back.
Yes i spent it of which im fully prepared to repay it, on the other hand when i have asked them for loans od's etc, they remind me of how they are 'very responsible lenders'. Obviously not that responsible as i hadnt an agreement in place with them.

Do you think its worth a case with the ombudsmen, financial regulation authority, or do you think barclays would they take a smaller lump sum payment.

Any help would be greatly appreciated.:T

You spent the money so who else can you blame? Next you will be saying that the pub should stop you from getting pi**ed.

Debt; An ingenious substitution for the slave master's whip and chain.:(

jemb

Why did you take it in the first place then? Don't expect us to get violins out for you if you took it out!

yakface77 wrote: »

Onlypaddy:- Thanks for your time to answer. seriously :-)
I am very far from easily affording to pay. I struggle like most of us.
Many people are 'skint' when they have little savings, my skint is waking up and hoping that the phone will ring with work for me so i can remain within my authorised overdraft. This happens a lot.
I feel rich this month as i am in the black in my current account by 200 pounds, and feel that i wont be hastled to pay anything for at least a week.although i owe council tax for 3 months, have a plan in place for my mortgage and if i won £20k on a lottery licket i wouldnt even notice the difference to my family life, as it would barely make a dent on my overall debt.
Please dont judge my situation from a few misplaced words, i keep down 3 different self employed jobs to try to make ends meet.i certainly dont have 5k in spare change.lol
I said ' i was in a position to pay', im confident they will stand by the agreed amount, and i did question the possibility of adverse credit due to a lesser amount, of which i was assured we 'are prepared to negotiate to 60-80% of outstanding balance in these kind of circumstances. They agreed that they were partly to blame as 'they changed the product without an agreement in place.When the interest and setting up fees are deducted its not far off the £1500 discounted price.

I will see how this manifests and if all that is promised this evening does come into my favour without adverse credit affects. I will report back, thats if you believe me. lol
off to bed now. thanks again for replies. :-)

ChiefGrasscutter

Sigh,

The OP seems to be of impression that its "the banks' money" and its them that are wanting their money back.

Actually no. It is my and many others on here savings which have been lent out on our behalf by Barclays and WE the savers would like OUR money back from the OP.

There seems the same misunderstanding when it come to Government money (actually to an even geater extent). The government does not have any money....it is taxpayers money...and if all the taxpayers in the country decided to stay at home for a week and do no work and hence pay no tax, perhaps those relying on handouts could explain where they think their handouts would come from then.

yakface77

jemb wrote: »

Why did you take it in the first place then? Don't expect us to get violins out for you if you took it out!

When this happened both my wife and I were on a combined income in excess of 50k, so this was well affordable. In 2009 I along with 40 others were made redundant in local government. My wife through other medical reasons had to leave .
Please note I am paying it back, have you been following the posts. Not once have I said I wouldn't be.
Intention was to see public opinion, of which I also agree with .
A forum is for asking questions, and making judgement based on well balanced opinions.
Thanks for all comment, good and bad .

Adams1

yakface77 wrote: »

A forum is for asking questions, and making judgement based on well balanced opinions.

Welcome to the MSE forum. Prepare to be easten alive. (no, seriously.)

yakface77

Adams1 wrote: »

Welcome to the MSE forum. Prepare to be easten alive. (no, seriously.)

Lol, cheers for the heads up.;-)
I have appreciated honest answers, I didn't want to hear some of them, but I know that paying back is the only right thing to do.