should I send letter asking to stop interest and charges? And Mercers question

daraya

We sent 2 letters with budget and £1 payment to Barclaycard (in letters I asked to stop charges).
They are taking payment and charging interest and late payment fee. Today we received letter from Mercers asking for payment. Shall I send them letter+budget again or letter asking to stop charges? Who should I write to now? Barclay or Mercers?
Thank you.

Leixlip1

Well Mercers are Barclaycards in-house debt collectors i.e. the same organisation - I would reply to them and not take it for granted that both parts of the organisation communicate with each other (!)

summerstreetallotments

..this worries me...I'm just about to send the same sort of letter

thechippy

Write to Mercers.

Yes, ask them to cease interest and charges (FWIW!!).
Don't send them an I&E and only offer that which you can afford each month.

Let us know how you get on, so we can advise further.

claypath

Hi daraya
I have had letters from Mercers also, and I reply to Mercers. I still get my statements from Barclays, and they haven't as yet stopped interest or charges. Keep paying each month what you can afford as they can't refuse it. I have also had numerous calls from Mercers but I complained and the phonecalls have stopped - for the moment anyway

Good luck to you. There are so many people in this same predicament
claypath

thechippy

Contraversial I know, but it DOES often work.

Threaten them that UNLESS they cease interest and charges, your payments will cease, as it's a pointless excercise to make ANY payments unless the debt is decreasing in a noticeable fashion.

fatbelly

thechippy wrote: »

Contraversial I know, but it DOES often work.

Threaten them that UNLESS they cease interest and charges, your payments will cease, as it's a pointless excercise to make ANY payments unless the debt is decreasing in a noticeable fashion.

I agree. Remind them that they are subscribers to The Lending Code and this states:

224. Subscribers should consider reducing or stopping interest and charges when a customer evidences that they are in financial difficulties. Such reduction/suspension decision should be based upon an income and expenditure statement indicating that they are unable to make repayments sufficient to meet contractual terms. Where a customer is able to make only token payments, their debt should not increase as a result of interest and charges levied. The assessment should reflect the customer’s lack of ability to pay rather than the stage an account has reached in the arrears cycle or whether they are using free sources of debt advice. Where a firm declines to allow concessions, they should be prepared to explain why to the customer or their adviser if requested to do so.

Culex

fatbelly wrote: »

Remind them that they are subscribers to The Lending Code and this states:

224. Subscribers should consider reducing or stopping interest and charges when a customer evidences that they are in financial difficulties. Such reduction/suspension decision should be based upon an income and expenditure statement indicating that they are unable to make repayments sufficient to meet contractual terms. Where a customer is able to make only token payments, their debt should not increase as a result of interest and charges levied. The assessment should reflect the customer’s lack of ability to pay rather than the stage an account has reached in the arrears cycle or whether they are using free sources of debt advice. Where a firm declines to allow concessions, they should be prepared to explain why to the customer or their adviser if requested to do so.

Would being mean-minded and/or anal-retentive, greedy bugg[STRIKE]e[/STRIKE]rs be considered an adequate explanation?

fatbelly

Culex wrote: »

Would being mean-minded and/or anal-retentive, greedy bugg[STRIKE]e[/STRIKE]rs be considered an adequate explanation?

You could add that as a PS

daraya

just a little update. I sent letter both to Barclay and Mercers today (same letters). I told them that we will not be paying anything more than £1 and asked them to stop interest and charges.i will let you know what will happen. If anything...

HayleyLou_2

Let me know what happens thinking of doing the same..