Barclaycard Offer & HIGH debt

helpandhope

Hi everyone,

I've just signed up to the forum to ask some advice from any of you that have already been through this.

I owe Barclaycard around 23K (along with other debts that are outside of them) but this post is focusing on Barclaycard.

I've had an excellent account with them for 3-4 years, never missed payments etc but due to the minimum payment, I'm going to have to now start making plans to do something to get out of debt.

So I'm trying to make a positive plan and be my "own" debt management. I've got family support and have also spoken to debt advice organizations but I just don't feel bankruptcy, IVA etc are the right way to go. If I can contact the companies myself as much as possbile, I feel this is a far better option for me, especially as I have an above excellent credit rating even with debt.

Okay, so my Barclaycard thoughts are:

The ballance is made up of a 10K transfer, a 5K transfer and the rest on general purchase.

If I explain I've had business problems since the transfers were made and can no longer make the payments, if I offer them between 8-10K to cover the general spending on the account, what are the chances they will write the rest off and close the card?

If I go IVA or bankrupt, I doubt they would recover upto 10K from me (even over 5 years) so would it be an offer that they may be willing to accept?

I will write further posts to explain my entire debt position as it would be lovely to have some support from others in a similar situation.

Thank you so much for reading this - PLEASE would everyone reply with any thought or piece of advice in as much detail as possible because I am really wanting to give this Barclaycard offer a go.

If you think it will make things worse with them, please let me know why etc so that I can hear from others that have "been there, done that".

Thanks a million!! :money:

saffronflowers

Hi and welcome - you really need to write up your SOA ( incomeing and out goings) their is a sticky at the top. Then we can see exactly what your debts are and what are the priorities and any money saving options

SFx

CLAPTON

we need to see the overall picture before good advice can be given so as SFx says post a full SOA with all the details.

on your question of barclaycard i would say there is zero chance of their writing off the debt at the moment. this situation may change once you have defaulted on your debt, entered a DMP and after they have sold off the debt to a DCA.

but post all the details .. include your mortgage amount and house value and your personal situation..OH/children etc.