Severe debt issues....

opinions4u

What have you got that you could sell quickly on eBay to try and pay off some of these debts? I believe it's a free listing weekend.

Short term, new bank account other than Barclays is an absolute priority. Get wages paid in to that.

techspec

Its very hard to stop a recurring payment where the long number on the card is used. It needs looking into.

Unlike direct debits - they have to be cancelled with the agreement of the other party.

Thankfully, payday loans are now being investigated. Short term loans are fine - but not at APR's in their 100's or even 1000's.

But if banks used common sense - people might not need them. Ask them for a remortgage or loan at 3%, to pay off credit cards at 34% -and they will tell you the system says you cannot afford it. How can anyone not afford to save money? They just want people to rely on high interest lending. Low APR's for the well off, and high APR for the less well off. Its a trap.

nottoolate

techspec wrote: »

Unlike direct debits - they have to be cancelled with the agreement of the other party.

not true


http://www.fsa.gov.uk/consumerinformation/product_news/banking/know_your_rights/payments


Cancelling a regular card payment

When you give your credit or debit card details to a company and authorise them to take regular payments from your account, such as for a gym membership or magazine subscription, it is known as a ‘recurring transaction’ or ‘continuous payment authority’.
These are often confused with direct debits, but do not offer the same guarantee if the amount or date of the payment changes.

In most cases, regular payments can be cancelled by telling the company taking the payments.

However, you have the right to cancel them directly with your bank or card issuer by telling it that you have stopped permission for the payments. Your bank or card issuer must then stop them – it has no right to insist that you agree this first with the company taking the payments.

Be aware though that you will still be responsible for paying any money that you owe.

nottoolate

hayley21985 barclays are telling you lies saying they cannot stop the payments. if you tell them to not allow any more then they mustnt let any more be taken.

cross789

I do not have to much experiance with this but the little I do know is I waswich tok the pressure off as they deal with your creditors for yu and arrange an affordable in a mess with HSBC and mail order and credit cards I used a cmpany to set up a debt management plan or DMP it took the stress out of things as they deal with your creditors for you and arrange a payment plan you can afford.

It is not ideal and with an agressive creditor you will struggle to set an arangment for you but they will eventually pass it to a debt collection agency who will accept some kind of payment but act fast and get a DMP set up asap so you can stop the worry.

the worst they can do is take you to court and the court will accept any payment off you that you can afford

Hope this helps

samtoby

I have posted on the other thread but Co Op are amazing. I have the basic account no credit search done but appearing on my equifax cr so looks good I am keeping in credit.

Barclays are talking a load of rubbish. Grab them by their danglies......

give_them_FA

nottoolate wrote: »

hayley21985 barclays are telling you lies saying they cannot stop the payments. if you tell them to not allow any more then they mustnt let any more be taken.

Hayley, I can tell you that nottoolate knows what what they are talking about, as I found out on another thread last night!:rotfl:

So you need to write a letter to your branch manager to say that you are instructing Barclays not to make any further payments on your card to [the loan companies] with immediate effect, and that any payments which they make in contravention of this instruction will be regarded as unauthorised and you will accept no responsibility for them.

If Barclays are incompetent enough to continue paying you should be able to repudiate anything they were kind enough to knock off your debt...(indeed, if they made any payments after you first asked them not to, you should tell them they must either reclaim them or be liable to cover them themselves)... but they are plainly lying because they want to get in on the scam by increasing your overdraft so they can raise charges and/or interest.

Sign, date, and either deliver by hand and ask for a receipt or send 1st class recorded. Hopefully that will at least create a bit of breathing space.

juliad_3

nottoolate wrote: »

you can require the bank to cancel the authority and not allow any more to be taken. there were new regulations recently that mean they MUST do this.


I have contacted my bank today as I have found a second payment taken from my account.I wrote to the company asking that they desist and remove my details on the advice of my bank after the 1st unauthorised payment was taken. I have been told by the bank to contact the relevant bank
department on Monday. These 2 payments were taken without any further goods being sent.

give_them_FA

Also Hayley I see the OFT is investigating these payday loan companies for mis-selling and unfair practices. Don't know your circunstances but that does raise the possibility that they may end up entitled to a lot less than they are trying to extort from you.