Barclays Accounts & Resolve Loan

championless

Hey everyone

I’ve been reading some threads with interest. I’d like to claim back charges on two Barclays accounts. I have two bank accounts with Barclays. One is a student account, which at the time had an overdraft limit of £1600. I received some charges for going overdrawn, etc. I couldn’t afford to pay the overdraft off, so I used another account I had with Barclays. After some time, Barclays insisted that I pay off the overdraft immediately. I could not afford this, as I could only afford to pay £35 per month. They insisted I open a loan account with them which would pay off my overdraft and then I would pay off the loan each month. I told them that I could afford to pay £35 and they told me that it would take something like nine years to pay it off. The interest seemed really high, but I figured that I didn’t have much choice in the matter. The loan that they made me take out was called a resolve loan. I've been paying it for two years now and I still owe £1688, so the balance hasn't even gone at all. I have been paying £35 per month for the past two years. Is there anything I can do about claiming the interest charged on this loan back and possibly do something about the loan, as it seems quite unfair?


Now the other account, I have used this for the past four years and have been charged on a few occasions for going overdrawn, getting a direct debit returned, etc. Is there anything I can do to get these charges back as well? Is it true that they can close your accounts down once they have refunded your charges? Would they close down all my accounts or just the ones I claim on?


Your advice & support would be greatly appreciated.

Thanks
Championless

championless

Can anyone help me with this?

markofdon

championless wrote: »

Can anyone help me with this?

Hi

Interesting to read this as I was in the same situation until Jan 08.

I had a student overdraft that got out of control and I was unable to pay back in 2004. I was basically forced into a resolve loan with ridiculous interest and minimum payment of £35 over 10 years!! I literally had no other choice and begin the payments. 2006 I found myself in a situation to increase these payments to £200 per month to pay the loan off quicker but this was rejected on the basis the total debt could only be paid off in full!!!! Anyway these £35 monthly payments continued making zero impact on the debt until Jan this year I found myself in a position to be able to pay the debt off in full.

I know I'm to blame for irresponsible debt management whilst I was back at uni but it gets my goat I was taken advantage of from Barclays with the financial difficulties I was in.

I've searched constantly for similar stories to mine and I believe I'd have a geniune case for reclaiming the interest from my payments on the resolve loan as I feel I was forced into it.

I'd like to know peoples thoughts on where I'd stand with this and what would be the best course of action in exploring this further?

Any help will appreciated.

cheers

markofdon

championless

I'm still paying my £35 a month and still owe them loads!!! It's a joke. I think we should be entitled but no-one seems able to help!

championless

Bump!

Can anyone suggest anything?