Need advice regarding clydesdale/barcleys

lisajs30

I took out finance on a pc in 2001 for £846, a year later my husband and myself found our selves in money trouble and so went to payplan to help us, Now since 2002 we have been paying clydesdale/barcleys and to date we have paid £1,812.24 and they are still saying we owe another £704, \ive tried asking them how this is possible and keep being fobbed off. And payplan who are surposed to be there as help, are no help whatso ever. I am at the end of my teather and dont no what else to do.:(

Tixy

When did you last receive a statement from them?

I would send them a letter requesting a full breakdown of the account, showing what has ben paid so far and what interest has been charged.

It sound like they haven't frozen interest since you entered a DMP, in which case it is worth writing again to ask them if they will reconsider freezing interest.

lisajs30

Ive just requesed another set of statments and the original aggrement, and according to them they can not and will not freeze interest, I wouldnt mind but we dont even have the pc any more. I just dont now when this will end nearly 11years of paying them and its still ongoing.

Tixy

They don't have to freeze the interest, and whilst its worth trying to get them to and quoting the lending code at them if they won't then they won't.
And if its been charged correctly then all you can do sadly is keep paying, and as your DMP gets near the end and other creditors get paid off in full then they'll get more of your payment each month, until you are making a dent in the balance even with interest being charged.

How much longer do you expect your DMP to last for other creditors? are you near reaching the end?

lisajs30

It says estimate 2017 which is just ridiculous it keeps chaging last year it said 2013. Debt to begin with in 2002 was just under £9000 we currently have paid just over £8000 and says debt remaining £4,046.46,

Tixy

DMP from 2002 to 2017? Gosh.

Do you have quite a few lenders who haven't frozen interest?
Are your payments pretty low? how much are you paying a month in total?

There is a template around which specifically quotes the lending code which has helped a few people get interest frozen when they've never managed to before. Might be worth a shot, will see if I can track it down.

lisajs30

13 lenders in total, was paying £200 pm since husband has been in reduced hours at work been paying £60 pm..... Thank you forlooking for that template.

Tixy

Well I can't find the template I've seen mocked up somewhere - but if you look at posts 4 and 6 of this thread https://forums.moneysavingexpert.com/discussion/3698167 - 4 has the usualy national debtline template, 6 has a clause you can add in as a quote in the letter.

Can't hurt to try. Good luck and hope you get it resolved.

The other alternative might be to seek advice again (either from payplan or from one of the charities). If the reduced payments are likely to be all you can manage for a while and if you don't own a house or signfiicant assets it might even be worth one or both of you consider a DRO?

lisajs30

Thank you for the information and your help, Ill look into it thank you

lisajs30

Ok justb recieved that statments i asked for from the above company Laon advance was £899.00
Interest £663.40!

And i have been charged the toatol of 54 times a default sum of £22.50 in some cases they charged this twice in one month. What can i do and ammount still owing £700.86 total paid to date to them £1,812.24

cardiffgrad1

lisajs30 wrote: »

Ok justb recieved that statments i asked for from the above company Laon advance was £899.00
Interest £663.40!

And i have been charged the toatol of 54 times a default sum of £22.50 in some cases they charged this twice in one month. What can i do and ammount still owing £700.86 total paid to date to them £1,812.24

Hope I can help a bit..I used to work for Barclays Partner Finance and dealt with ex-Clyesdale loans.
The default sums will be for missed or late payments...but your post suggests that you have been paying the loan..so did you miss any payments or make any late payments? Unfortunately, as you've seen yourself, if you make one mistake they will whack you hard.

If you don't understand why you have these charges, I would suggest phoning Barclays, asking for the complaints team to provide an explanation for the charges. Then, depending on their explanation, take it from there.

If you have been late with your payments or missed payments and these charges are consistent with your agreement with Barclays.. then I'm afraid you can only throw yourself on their mercy and ask if they would consider removing the charges. They probably wouldn't wipe ALL of them off if they are correct charges (they are a business) but you'd be surprised - they do wipe off charges and in a case like yours where you've already paid back so much to them -they'd probably be willing to negotiate. There's certainly no harm in asking anyway.

The most important thing is not to bury your head in the sand - in situations like this, it's tempting to do. But, the more you do this, the longer you'll be paying them back and the more charges you'll accrue.

Take charge of the situation today!