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Confused Egg/Barclaycard

ayupmiduck1
Posts: 13 Forumite
in Credit cards
Hi guys,
I'm really confused and hope somebody could offer me some insight.
I had an egg account, which I was not maintaining due to my level of indebtedness.
Earlier this year, with a balance of approximately £2300 I made an offer of £600 to close the account as a partial settlement. This was accepted and the payment was made.
I was promised that written confirmation of account closure would follow, but alas it never did.
Today I have received mail from Barclaycard, saying that my account had transferred to them. Confused and annoyed I called Barclaycard to say that the account was closed. I was advised that my account has transferred to them and that they will soon be issuing me with a new card with a £2250 credit limit. I asked for confirmation that my account was showing as nothing owed and this was confirmed. They informed me I have a zero balance and my new card will be arriving shortly.
Now don't get me wrong I don't want to go down the route of getting in more debt as I have major strides in reducing my money owed in the las 2 years. However, I am now thinking that I could try and get partial settlements with my other creditors and to transfer the balances to this card... start paying monthly and on time and in effect reduce my debt and improve my credit rating.
Im sure this sounds too good to be true and I worry that if I use the card, then Barclaycard may in future chase me for the remainder of the balance I originally cleared.
I would welcome your thoughts. I hope this makes sense. Thanks
I'm really confused and hope somebody could offer me some insight.
I had an egg account, which I was not maintaining due to my level of indebtedness.
Earlier this year, with a balance of approximately £2300 I made an offer of £600 to close the account as a partial settlement. This was accepted and the payment was made.
I was promised that written confirmation of account closure would follow, but alas it never did.
Today I have received mail from Barclaycard, saying that my account had transferred to them. Confused and annoyed I called Barclaycard to say that the account was closed. I was advised that my account has transferred to them and that they will soon be issuing me with a new card with a £2250 credit limit. I asked for confirmation that my account was showing as nothing owed and this was confirmed. They informed me I have a zero balance and my new card will be arriving shortly.
Now don't get me wrong I don't want to go down the route of getting in more debt as I have major strides in reducing my money owed in the las 2 years. However, I am now thinking that I could try and get partial settlements with my other creditors and to transfer the balances to this card... start paying monthly and on time and in effect reduce my debt and improve my credit rating.
Im sure this sounds too good to be true and I worry that if I use the card, then Barclaycard may in future chase me for the remainder of the balance I originally cleared.
I would welcome your thoughts. I hope this makes sense. Thanks
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Comments
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They informed me I have a zero balance and my new card will be arriving shortly.
I would want this in writing.Im sure this sounds too good to be true and I worry that if I use the card, then Barclaycard may in future chase me for the remainder of the balance I originally cleared.
Which is why you need it in writing.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
:rotfl: this would mean that egg have removed the default i assume they would have registered with CRA. I would allow them to send you the new card, leave it a month then call and close it. Then if they ever come back looking for the owed money... what owed money.If you keep on doing what's you've always done, you'll keep on being what you've always been...:think:0
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all customers would get notice from Barclays that the account is now transferred from Egg etc. Even if your account is closed settled partial settled or otherwise. The reason for this is quite simple. You cant call Egg Bank for archive statements anymore or to query your credit file. You have to get Barclays to do so. From Monday Barclays staff should be able to see what's needed. If by way of a miracle you get a new card be very cautious and check with them.
it could be that your account number changes but your account status stays the same.would love to be a home owner. hate private rentingscared of debt. almost debt free.
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I have a similar, but worse, problem. I am in debt and one of my debts is with Egg and I was on a self manageddebt plan, whereby I was paying Egg debt collectors (which I believe was part of Egg) a certain amount a month. However, I near appear to be transferred to Barclaycard where I have a debt but I have always paid the proper amount with interest as I occasionally used the Barclaycard when the going got tough - and it does get tough! but the debt is coming down. However, I received my Barclaycard statement today and it said that my account has been temporarily suspended due to the state of "my other account" which I assume is the Egg account. I am now with the dreaded Moorcroft for this account. I don't know what to do now, just carry on paying off the Barclaycard and ignore the fact that the account is suspended, or reduce my monthly payment to them and request my interest is suspended. I know it is a bad state to get into but I am in it now.0
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Hi,
Was wondering if you had a Barclays current account also? If so and you stop paying the Barclaycard, they may help themselves so worth changing to an unlinked bank.
Presumably the Egg account transferred has been sold to Moorcroft, as if not, they may do the same.
you may also be better posting on the debt free wannabe board.
HTHI have a similar, but worse, problem. I am in debt and one of my debts is with Egg and I was on a self manageddebt plan, whereby I was paying Egg debt collectors (which I believe was part of Egg) a certain amount a month. However, I near appear to be transferred to Barclaycard where I have a debt but I have always paid the proper amount with interest as I occasionally used the Barclaycard when the going got tough - and it does get tough! but the debt is coming down. However, I received my Barclaycard statement today and it said that my account has been temporarily suspended due to the state of "my other account" which I assume is the Egg account. I am now with the dreaded Moorcroft for this account. I don't know what to do now, just carry on paying off the Barclaycard and ignore the fact that the account is suspended, or reduce my monthly payment to them and request my interest is suspended. I know it is a bad state to get into but I am in it now.:beer:0
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