Advice on interest charges

Decked

I am about 18 months in to a DMP with Stepchange. Owe about £46000. Most creditors had stopped interest and last year I got a new job and increased my payments from about £630 to £950 per month. Barclaycards had been charging a small amount of interest on one of the two accounts I have with them. Not wanting to rock the boat and also being grateful that they were only charging a small amount, I had just accepted it.

However recently they have put the interest rate up to almost half of my monthly payments, so instead of clearing £225 per month off my debt they are charging £100 in interest so I am actually only clearing £125.

I owe the money and want to clear the debt, is it only good will that applies in these circumstances or are there any other ways I can use to influence what they charge me.

I think I have one account for many years, the other was created I think when they bought my Egg card.

Any help would be gratefully received.

Thanks

Monkeyballs

Hi,

I love Barclaycard... They seem to make it up as they go LOL

I've spoken to them in the past asking them to freeze interest (to be fair they had dropped it substantially) they told me that anyone paying over 1% has to pay interest but the amount over 1% effects the interest rate charged...

So I was paying just over 1% and they put me on 0.56% but now I'm paying less than 1% they've frozen it

In short they don't think you're in financial hardship and don't want to play ball anymore you can put in a complaint to them and then when you get a reply escalate it to the FOS as being unfair - it's worked for some folk on here.

You could always consider going self managed and then pay them less and use any funds left over to build a pot for F&F's later on?

MB