Dmp

3431Anna

Hi everyone wondered if anyone who has debt with Barclaycard has any idea how long it would take them to default the account, I've been in a DMP for quite sometime all my other debts have defautled but not Barclaycard they still charge interest at a reduced rate, I am wondering whether they would accept a full and final settlement offer it they haven't defaulted Many thanks for any help

phoenixx

Hi 3431Anna

Our experiences with Barclaycard 3 years into our DMP - they will not default us and our several accounts range from 0% to 12.9% interest applied. Unless you are paying them a smaller amount than the minimum payment, they will not budge. We have complained formally to them and next stop FOS, although we have been waiting for a reply to our complaint since early December. Only way I can see to deal with them is to self manage DMP and pay them small amounts until they fall into line. As for f&f, DH offered 85% to settle and was declined. They would not even take 95%...They are very tricky. We refer to them as the 'gollum' debt as they will not compromise on their 'preciouses' (interest).

Puzzcat

I'm currently paying just over 1% of the total debt which is about half the usual minimum payment and as yet am not being charged interest. I also have not been defaulted 16 months in and did ask them but they won't. My credit file changes from ap and green up to date to aa and late payment. I think they just play games and despite not charging me interest at the moment they are certainly one I would like to get rid of asap.

Ellieseleven

We're almost 5 years into our DMP with AP markers on both our BC accounts. We are not being charged interest at the moment so I haven't asked about a default as we are paying over the 1% marker so I don't want to rock the boat at this stage.

DS4215

Ellieseleven wrote: »

We're almost 5 years into our DMP with AP markers on both our BC accounts. We are not being charged interest at the moment so I haven't asked about a default as we are paying over the 1% marker so I don't want to rock the boat at this stage.

Remember the AP markers will stay on the file for six years *after* you have settled the debt, whereas a default from 5 years ago would be dropping off next year.

I got a 50% F&F with BC, but that was an old Egg card that they took over.

kezza`4

I've been on a self managed DMP for just over a year, and Barclaycard were my only creditors not to default me. Luckily most did within 2-3 months. However, I sent off some f&f letters to the smaller debts, and Barclaycard refused 25%, asking me to call them. I did, and the accepted around 28%. I was only paying the token £1.00 a month so I don't know whether that made a difference.

Westminster

Everyone's situation will be different depending on the conduct of the account, duration of the DMP / reduced payments etc.

I settled with Barclaycard on what was originally an Egg credit card. Last July they accepted 65% as full & final.

As this was the last account I needed to settle, I accepted this and cleared it. I was able to get between 25% and 35% with MBNA and various DCAs.

Through a broker, I have subsequently received a mortgage offer from a high-street lender for 5x my salary (although it was a joint application with my wife who is on disability benefits) with headline fixed interest rate.

Jeff_winter

I am in the same position with Barclaycard? Has anyone any had any luck in back dating a default?

Why would they not issue a default against these accounts? mine is 18months on a minimum payment and my credit file shows Arrangement to pay.?

Westminster

I think (with my cynical hat on) that these companies are getting wise to the implications of a default falling off after 6 years - so if they just put AP markers on, then they have you over the coals for MUCH longer so you are likely to pay up quicker if your situation improves.

I had something like 4.5 years of APs and noticed way too late to do anything about it (having had a complaint to MBNA, ICO and FOS all declined).

Ellieseleven

DS4215 wrote: »

Remember the AP markers will stay on the file for six years *after* you have settled the debt, whereas a default from 5 years ago would be dropping off next year.

I got a 50% F&F with BC, but that was an old Egg card that they took over.

I know about the AP markers staying on my file but I'm not sure whether I should challenge BC at the moment as they are not applying any interest to the account and I am paying over 1%

I thought that maybe a little further down the line, I might write to them and ask them to default me and see what they say but I don't want to rock the boat just yet.