Barclaycard restarted interest!!!

Learning2Budget

On a dmp with the CCCS. Got a cc statement through from barclaycard this morning which shows they have restarted interest. Although i understand that they are well within their rights......we will never get away from our dmp at this rate!! Is it cos through the CCCS we are paying more than our minimum payment needs to be?

Was feeling sooo positive this morning and now feel totally deflated.
Any advice welcomed....L2B.x

Deep_In_Debt

Barclaycard did the same with me but only a little bit of interest so luckily I was still making headway. It probably is because of your minimum payment as mine situation is similar. As I say, they are only charging me a little bit of interest. I wrote to them but they refused to cancel the interest competely but agreed to charge minimal interest which is reviewed every 6 months which means I have to keep writing to them to negotiate again.

bradibaby

did you increase your payments?
i had review last year with CAB in may last year
and next month i was paying interest at 12-9 /1.019% only realised interest was when i read statement
interest..which was nearly half of what i was paying them being added back on and meant i was gertting nowhere again ...CAB phoned up to try and get it reduced or taken off NO joy ..

recently read this thread on here

https://forums.moneysavingexpert.com/discussion/3783873

..i wrote and told them that they didnt give me prior notice and without 30 days notice ) but they claim they had sent me and the advisor letter ...( none which were receieved anyway they agreed ( on telephone to stop interset for another year) and refund last two interest payment i had made

.....but statement i recieved the other day still had added interest and charges as i hadnt paid full minimum payment ... had agreed a reduced payment with customer realations advisor with no interest in january to be added for i year ...although i am still waiting on letter to confirm phone call .. they said anything over £15 automatically gets the basic interst rate of 1.019 % in my case apr 12.9%

andy1886

Another one who has had interest reinstated due to paying over 2% of the balance . It is in their terms and conditions but I tried to complain regarding the fact that as I am on a dmp I have no alternate way of servicing this debt therefore am forced to pay them until the balance clears . They agree that my only solution is to go back to my dmp budget and lie about my outgoings which will reduce my payments to them and put me below the 2% payment . Personally I don't want to do this and just told them that in future I will never use their services again .

eyeopener2

andy1886 wrote: »

Another one who has had interest reinstated due to paying over 2% of the balance . It is in their terms and conditions but I tried to complain regarding the fact that as I am on a dmp I have no alternate way of servicing this debt therefore am forced to pay them until the balance clears . They agree that my only solution is to go back to my dmp budget and lie about my outgoings which will reduce my payments to them and put me below the 2% payment . Personally I don't want to do this and just told them that in future I will never use their services again .

Exactly the same here.

Stewart_78

My wife got a letter the other day saying they are going to start charging 6.9% on her Barclaycard debt. Luckily it's not too huge. My Barclaycard debt was £12k but they sold that on a few months back.

Leon_Telford

12K limit on a Credit Card?! Glad they only gave me a grand.

Stewart_78

I doubt that is unusual at all. I seem to recall I had a £17k limit on my egg card. Most of the rest were over 10.

BlushingRose

We have a different issue, Barclaycard have declined our new, reduced, DMP offer..

Reducemydebt

....great, just starting my DMP and I have Barclaycard and Lloyds too contend with....hopefully every case is different

mellonicoley

BlushingRose wrote: »

We have a different issue, Barclaycard have declined our new, reduced, DMP offer..

I wouldn't worry about it. Just keep paying them what you can afford, they can't take what you don't have!