Barclays Resolve Loan - HELP I WANT TO GET AWAY FROM BARCLAYS

Gaz2k21

Hi Guys,

Just seeking some advice really, I'm currently paying off a Resolve loan from Barclays of which I have around £4000 left (as well as an additional £1000 overdraft which needs paying off) I'm absolutely sick of Barclays they seem to be completely incompetent and every time I require help with something it usually means a good hour of phoning to get to the right person.

Up until now I've thought I was tied into Barclays to pay of my loan, however a friend mentioned it maybe a possibility to set up a new account with an alternative bank and to obtain a loan that I could use to pay off my resolve (and overdraft)with Barclays that may have a lower monthly repayment(currently paying around £113 a month) as well as lower rate of interest, any advice on this?

redpete

First of all look into what the terms and conditions of your existing loan say about early repayment and/or overpayments for the loan. This will tell you what you can do and what it will costin additional fees. Then you can look at getting another loan to provide the funds with which to pay it.

Note however that the new lender will see this as additional lending, there is no guarantee to them that you will use the money to pay of the existing loan, and so they might be reluctant to offer you the money.

CLAPTON

it rather depends upon your income, your toal level of debt, what your credit files say about you etc

Apples2

What do you have to keep ringing them up for?

If you are struggling with payments further borrowing will be unlikely

Gaz2k21

Apples2 wrote: »

What do you have to keep ringing them up for?

If you are struggling with payments further borrowing will be unlikely

I've been banking with them for about 12 years, havent had any problems paying back payments in the past 4-5 years but during my student period I had numerous issues that were a pain in the back end to sort due to their poor customer service half the time if i went to see a personal banker I'd be directed to a phone service anyway.....

Just recently Im changing job and called Barclays to notify them there would be a break in my wage payments and to see if there was anything I could do to avoid charges if any payments were missed/ move my loan payment It took me over an hour and required me to call several numbers before i got through to who i needed to speak to as previous staff members had given me incorrect details etc. also the online banking is a bit lame..

Clive_Woody

To be honest most banks can be pretty hit and miss with customer services, there will always be those who have never had a problem then just as many who have had all manner of issues.

First Direct are supposedly the best out there for customer service but my experience of them was quite the opposite and I would put them on a par with the likes of Santander for being utterly useless.

My best advice would be look at making overpayments (if allowed) and clearing your debt as quickly as you can therefore avoiding any need for further borrowing or having to phone their customer 'help line'.