Offered f&f from Barclaycard but they won't put it in writing

Toastie1

Hi, I have been on a payment plan with Barclaycard for a while now, where they have froze interest and I am paying what I can afford. As part of their 6 monthly 'review' of my account they have offered a full and final settlement (offer only valid for a short while). However, they state it will show on my credit file as 'partially settled' and won't put anything in writing till I've made the agreed payment. I will have to borrow money off family but am desperate to get rid of my formal debts. However, will this approach leave me open to being chased by other debt agenices for the other part of the 'partial' amount? Have tried calling B/C but keep getting put through to India call centres. Should I write to B/C as this has all been verbal so far due to their reluctance to put anything in writing. As far as I can tell, the account is still being handled 'in-house' with B/C at the moment.
Any help / advice appreciated.
Thanks
Toastie

bottleofred

Hi Toastie,

Partially settled accounts do indeed go onto your credit file as partially settled and this information will drop off at the same time as any default that has been applied to the account (defaults last a total of 6 years from the date they were applied on your credit file, whether settled or not). It is very strange that they have refused to put anything in writing though and I certainly wouldn't pay the settlement figure until I had the information and agreed amount in writing. And yes, if you paid the agreed amount without anything in writing, you could leave yourself open to being chased by debt collection agencies. I'd definitely write to Barclaycard and ask for everything to be in writing. There is a template letter for full and final settlements on the Nationaldebtline website. And don't let any creditor bully you into paying until you have everything in writing and are happy to pay.

Good luck

Red