barclaycard and overdraft

Lawa

Im not a idiot i only posted on here a few weeks ago myself and things do change, if you want and make it happen.


You have to do it yourself. I know its hard I suffer with severe depression and self harm and was a boderline alcoholic but with support I have changed. you dont get that by whining but standing up and dealing with things.

Yes its hard and yes you lose out on some things, but you will get through it quicker without a drak cloud hanging over you

By posting my SOA and listining to advice I have cut 500 a month out my spending to go towards paying of my debts.

PS
Charites i apologise I am dyslexic

Tixy

johndawgylt wrote: »

I'm stuck between a rock and a hard place - if I 'spent way more than I earned' like you stated in your previous post, why did the banks give me that amount then? Why aren't they willing to give me that now to get out of this hole?

I'm sick of it and how the bank treats people, something needs to be done about it! That's why the nation is in the state it's in.

I'm not willing to stay in every night, spend nothing, and pay back the crooks because of a mistake when I was younger.

There is no help for anyone in this position

Banks are businesses, they exist to make money and make their lending decisions based on that.
They are not willing to lend to you further because your credit file suggest that you cannot afford to service your existing debts.

You need to help yourself. There are places that can assist you, such as the debt advice charities but you need to help yourself as well.

grumbler

johndawgylt wrote: »

PS: What's a charaties?

MSE articles:

• Debt solutions
• Debt Problems

johndawgylt

grumbler wrote: »

MSE articles:

• Debt solutions
• Debt Problems

They make your credit rating even worse!

Candyapple

It's quite clear the OP hasn't had his lightbulb moment yet so we should cut him some slack.

John you do realise that wallowing in self pity will do nothing for your situation. You chose to spend the money quite happily, now comes the time to pay it back. If you can't afford to, there are options for you to manage your debts in advice given above. If you continue to bury your head in the sand, you won't be able to obtain any credit for the next 6 years and constant calls and letters to get you to repay. Think about that for a second: can you live without credit for the next 6 years - no mortgages, car finance, credit cards etc?

JimmyTheWig

OP, I find it helps to look at it from the banks' point of view.

From their point of view were they wrong to lend you this money in the first place? No, they were trying to make money out of you. That's their job.
Do they have to lend you more money? No.
Do they have to offer you a lower interest rate? No.
Do they have to take pity on you? No.

Can they lend you more money, at lower interest rates, if they want to? Yes.
Are they likely to lend money to someone who has already borrowed more than they can afford to pay back and has started defaulting on existing borrowing? No. Would you lend to someone like that?
Who do they want to lend to? Someone with low debt and a good history of paying back what they borrow.

Ok, so now we've got somewhere.
You need to do what you can to turn yourself into the sort of person who the banks want to lend to.
So do what you can to meet your minimum payments each month. If you don't do that things will only get worse.
It is almost definitely worth paying off more than the minimum if you possibly can. The more you pay above the minimum the significantly faster your debt will go down.

Then revisit the situation in, say, 6 months time.
At that point your debts should be lower and your credit history should be looking better.
Depending on how low and how good, you may be able to get a better loan then.

Tixy

johndawgylt wrote: »

They make your credit rating even worse!

If you have already been missing payments then arranging a reduced repayment plan it won't necessarily make your credit file look any worse. However ignoring the situation and not seeking advice could make it worse - if your creditors choose to take court action against you.

If you did do say a debt management plan then as part of that you agree not to take on any more credit until all this is repaid.

So what your file shows in the meantime isn't a major issue.

Thrugelmir

johndawgylt wrote: »

They make your credit rating even worse!

At the current time that shovel that you are digging with is simply making the hole bigger and bigger. Until you learn to help yourself and listen to the advice of your peers. You'll continue to go absolutely nowhere.

Ring the National Debt helpline. Free telephone service.

https://www.nationaldebtline.org/

Gizmo-macca

I had major problems with Barclays though I admit some of it is my fault, a lot is theres too. Theya re a pretty evil institution when it comes down to it.

In a nutshell, I was studying a course pre uni and set up a student account for it, and when I went to uni later for a full length course I used that free overdraft since I really needed it by then (was working almost full time through year 1 and 2 I will have you know so don't tell me I could have earned more).

Anyway, they retracted the student overdraft before my course ended and I was screwed big time with their charges. They wouldn't extend my student overdraft despite me being a student. That wasn't in the terms and conditions - "we will retract your overdraft any time and leave you in the !!!!!!!"

Imagine that - bad enough if you are working. But hell that's murder when you have 2 years left on your course. Totally evil of Barclays.

To make matters worse I had taken out a 2nd student account,with a (smaller overdraft) and that bank withdrew that overdraft entirely!


Watch the banks!
They are there to make life a misery for you. It actually did destroy me for a good few months until I found my feet again.


Still I was only ever in about £5000 debt max at any one time.... so its noweherre near as bad as whats been discussed here so perhaps I am the lucky one.

I have certainly never used a credit card.

SnowTiger

Contact StepChange.

You have debts of £10,000. You need to get the interest and charges stopped and throw as much money at them as you can.

This will work out cheaper than a £10,000 loan too.

If you've received threatening letters your credit history is already trashed.