Help with Barclays

BlushingRose

As I'm sure you're all aware, Barclays have changed its overdraft fees to an amount *per day* as of today.
This means people such as I, who have to live in their overdrafts because we don;t get enough money in to get out of them, now have to find even more money per month.

I am thinking of writing to them and (after changing account to elsewhere) asking them to freeze the account and stop all fees and offering them a token monthly payment.

I cannot see another way to deal with this issue.

oh, and the DMP listed below is in my fiance's name. Stepchange advised us not to merge his DMP with this issue

Anyone got any advice?

StressedSteph

Hi BlushingRose.


I switched away from Barclays in January this year and it was THE BEST thing I EVER did.


I was in a identical situation as you are. Not enough money going in to kill off overdraft, bank interest and charges go out at the end of the month, making me short on money again and unable to pay some bills, thus incurring more charges, and round and round I went until this January when I said NO MORE!!!.


I decided I liked the look of the Santander 123 account as you earn cashback from your utility direct debits.


I applied online for a joint account, request NO OVERDRAFT facility and started there switch over service.


I truly expected to be refused as our credit score is less than perfect, but we were accepted and within 21 days all my direct debits were transferred over.


Santander were brilliant and gave me lots of warning about the final switch over day, so that I could make sure that the wages went into the new account from the correct date.


I won't lie that in the switch over month, I did bounce two more bills as there just wasn't enough money around to furnish both accounts, but by that point I was so desperate to get away from the overdraft that I just sucked it up. Made phones calls and apologies, with promises to pay in the next few weeks.


Santander did call me to say that they couldn't do the closing service that they offer on your old bank account because of an existing overdraft with Barclays but I just said "Don't worry I am dealing with that" and all was fine.


I was THE BEST move I have ever made. I also started a Fantastic Budgeting software called YNAB - You Need a Budget (Google it), this software is cheap and amazing and ensured we stay within our budget and do not repeat the same mistakes we made with the overdraft at Barclays.


This is key as you do not want to create the same mess again in your new bank account.


I then rang Barclays, and explained the vicious circle I had been in with bank charges and that I fully intended to repay my Overdraft little by little, but I was now treating it like any other normal debt rather than trying to run my home finances out of it as well.


I fully expected them to be nasty, but they were great. They agreed a repayment schedule that I said I could afford and freezes interest and charges.


Do it, it was the best move I ever made.


If I can help with anything just message me xxx

sourcrates

Lots of people are having this issue at the moment, advice above is good, best option is open a new basic bank account with no OD facility, and live within your means from day one.


You should be able to agree suitable repayment of the OD with Barclays.

BlushingRose

Yep, have opened a basic account with the Co-op and that's all sorted.

The main issue is that I don't have a regular income and when I do it's not a lot coming in. I'm mostly a 'kept woman' to be honest.
I feel it's going to be difficult to make an offer that they'll accept, based on this and it's scaring me. It's also the reason that Stepchange won't take me on (although they're very willing to offer advice).

I feel a bit trapped, at the moment, to be honest.

sourcrates

BlushingRose wrote: »

Yep, have opened a basic account with the Co-op and that's all sorted.

The main issue is that I don't have a regular income and when I do it's not a lot coming in. I'm mostly a 'kept woman' to be honest.
I feel it's going to be difficult to make an offer that they'll accept, based on this and it's scaring me. It's also the reason that Stepchange won't take me on (although they're very willing to offer advice).

I feel a bit trapped, at the moment, to be honest.

As long as you explain the situation to them, you can avoid it ending up in court(long way off) although from what you say, if you cant make regular payments, chances are Barclays will cut there losses and sell the account on to a DCA, so then it will be up to you to deal with, as you see fit.

BlushingRose

Thanks. Yes, I know the secret is usually to keep people in the loop, isn't it.
I'm going to be offering token payments at this stage, as you never know my circumstances could change.

Is it better to ring them or write do you think?

antonic

BlushingRose wrote: »

Thanks. Yes, I know the secret is usually to keep people in the loop, isn't it.
I'm going to be offering token payments at this stage, as you never know my circumstances could change.

Is it better to ring them or write do you think?

I would write to them, that way you have an audit trail of what you have proposed to them.

BillJones

BlushingRose wrote: »

Yep, have opened a basic account with the Co-op and that's all sorted.

The main issue is that I don't have a regular income and when I do it's not a lot coming in. I'm mostly a 'kept woman' to be honest.

It sounds as though upping your income would make sense. Could you find a job that pays a regular wage?

BlushingRose

antonic wrote: »

I would write to them, that way you have an audit trail of what you have proposed to them.

Ah yes, good point

BlushingRose

BillJones wrote: »

It sounds as though upping your income would make sense. Could you find a job that pays a regular wage?

If I could, I would have

BillJones

BlushingRose wrote: »

If I could, I would have

I don't understand. If you've a disability, are you receiving all of the benefits which you should be? If not, then of course you can get a job.