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On DMP - Barclaycard won't freeze interest

Hello

Has anyone had any luck with getting Barclaycard to freeze interest while on a DMP please?

Another user on this site (thanks Vicki! ;)) advised me to call their collections dept rather than write but this hasn't been successful. I rang the collections dept (sounded overseas) who wouldn't budge on freezing/lowering interest, so I asked for a manager and got transferred to their UK centre. I explained that I was paying £50 p/m on my £2,500 debt, of which they charge 6.9% pa or about £14. This means that only 2/3 of my payment goes towards my debt, and that other creditors had frozen the interest. However the girl on the phone refused to budge saying that I was already on a reduced interest rate. (True, but not helpful when I owe other creditors much more). It was a very frustrating phone call!

Has anyone had success with Barclaycard?
Thanks :D
LBM - March 2009, DMP Start - April 2009
DMP Mutual Support Thread Member 297

(Don't forget to click on 'Thanks'! Thanks!)

Comments

  • Phelpsie001
    Phelpsie001 Posts: 229 Forumite
    From what I have read on other threads, BarclayCard seem quite stubborn on this issue.

    Have you tried writing to them, outlining that the other creditors have frozen their interest and that it is in their interest to do the same, as it will reduce the risk of you defaulting on a payment?

    Just my tuppence worth =)
    Original Mortgage Debt - £130,330.
    Current Mortgage Debt - £116,605.
    2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
    Original Loan Debt - £6,000. Current Loan Debt - £3,500.
    Original HP Debt - £1,000. Current HP Debt - £240.
  • DevonGirl
    DevonGirl Posts: 433 Forumite
    From what I have read on other threads, BarclayCard seem quite stubborn on this issue.

    Have you tried writing to them, outlining that the other creditors have frozen their interest and that it is in their interest to do the same, as it will reduce the risk of you defaulting on a payment?

    Just my tuppence worth =)

    Thanks for your reply.
    Yes, I sent them the standard "please reduce/stop interest" letter which I found as a template on this site, but got the same "no way" reply.

    At present am looking to cut monthly DMP payment as cost of living has risen and it's getting harder each month. Maybe not the best time to be asking for them to cut the interest? DMP going smoothly so far so perhaps if they are notoriously stubborn I should just let it go? What do people think?
    LBM - March 2009, DMP Start - April 2009
    DMP Mutual Support Thread Member 297

    (Don't forget to click on 'Thanks'! Thanks!)
  • Hi Yes we got the interested frozen on a barclay card, was 4 years ago though, still slowly paying it off.

    Dont give up! Good luck
    Now in control and will be Debt free by 2014
  • DevonGirl
    DevonGirl Posts: 433 Forumite
    Hi Yes we got the interested frozen on a barclay card, was 4 years ago though, still slowly paying it off.

    Dont give up! Good luck

    Thank you!
    Can you remember how you got them to freeze it?

    A friend has suggested using the 'Shawshank Redemption' method - whereby I write a letter every week - somehow I think that will make them even more stubborn though!
    :p
    LBM - March 2009, DMP Start - April 2009
    DMP Mutual Support Thread Member 297

    (Don't forget to click on 'Thanks'! Thanks!)
  • kirstle99
    kirstle99 Posts: 471 Forumite
    Part of the Furniture 100 Posts Debt-free and Proud!
    Hi, I did get our interest frozen on 2 Barclaycard accounts (eventually) when I started our DMP 4 years ago. However IN April 2011 we had our annual review and were able to increase our monthly Payplan payment, and this is when they seem to have put us on this 6.9% interest.
    I have written to them (still waiting on reply) pointing our that their interest charges mean we are only paying off £8 more per month than we were before despite the m onthly payment having almost doubled. I have also explained that we may need to reduce our payment in the near future as we are expecting our 2nd child next week.

    I wait with interest for the reply, but i'm not overly optimistic TBH.
  • DevonGirl wrote: »
    Thank you!
    Can you remember how you got them to freeze it?

    A friend has suggested using the 'Shawshank Redemption' method - whereby I write a letter every week - somehow I think that will make them even more stubborn though!
    :p

    The DMC got it frozen for us. Now i pay all debts direct without the DMC. if i was in your position i would write every week! id be as stubborn as they are lol
    Now in control and will be Debt free by 2014
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