In a DMP but increasing arrears with barclaycard

dobbollah

Ive been in a DMP for almost 5 years now, one of my creditors being Barclaycard.

They insist the monthly payment due is £91, however throught eh DMP they are getting £32, so the arrears is growing by £60 a month, currently up near £700.

My concern is that even after all this time in the DMP they will slap a default on giving me 6 years of further horrid credit.

What advice would anyone give.......?

Its always welcome, thanks in advance

Puzzcat

dobbollah wrote: »

Ive been in a DMP for almost 5 years now, one of my creditors being Barclaycard.

They insist the monthly payment due is £91, however throught eh DMP they are getting £32, so the arrears is growing by £60 a month, currently up near £700.

My concern is that even after all this time in the DMP they will slap a default on giving me 6 years of further horrid credit.

What advice would anyone give.......?

Its always welcome, thanks in advance

Hi,
If it's the same as my statement it shows an arrears figure, which is what you are behind in paying and a total balance that hopefully is going down each month. That is the figure you need to concentrate on. As for late defaults they can be challenged but bc like ap markers that unfortunately stay on your credit file for 6 years after the debt is settled. I have asked BC to default me but they won't, if they do later you can fight to get it backdated.
Puzz

phoenixx

dobbollah wrote: »

Ive been in a DMP for almost 5 years now, one of my creditors being Barclaycard.

They insist the monthly payment due is £91, however throught eh DMP they are getting £32, so the arrears is growing by £60 a month, currently up near £700.

My concern is that even after all this time in the DMP they will slap a default on giving me 6 years of further horrid credit.

What advice would anyone give.......?

Its always welcome, thanks in advance

I have experienced many shades of Barclaycard's unreasonable ways. My advice is to pay them token payments for a few months. This is your best chance of freezing interest. I have yet to meet anyone who has had their Barclaycard debt passed to a DCA so if anyone has achieved this, I'd be interested to hear. The problem with them is that a) their departments do not talk to one another so you will get one telling you interest is frozen while another says you are in arrears and on 12.9% b) if you are paying them any more than about 1% (think this is the figure) on your DMP, then you do not qualify for frozen interest against their odd rules. £1 payments for a bit will chill their heels.

phoenixx

I ought to add - write to them to tell them that the token payments are what you can afford at the moment. You must contact them but I find the phone to be laborious and unreliable with them.

loveka

As they are probably putting marks on your credit file every month these will stay for 6 years from the last mark anyway.

Barclaycard are very difficult in this respect. You could try asking them to backdate a default to the first arrangement to pay marker on your credit file. I have read in here that this probably won't work, but might so worth a try.

It is unfair that you are paying what you can but are being penalised more than someone who just stops paying, who would have been defaulted after a few months. We are in the same boat as you and it is annoying, as due to circumstances beyond our control we can't manage the contractual payment, but struggle to pay as much as possible to pay the debt off. They refuse to default.

Puzzcat

Unfortunately if you are in a managed dmp you can't do this. Are they charging interest? I am over 1% on payment v owing balance and at the moment no interest is being charged but I am keeping a close eye! The arrears showing are just the difference between what I am paying and what I should have paid. The total balance owing is the important one!

dobbollah

I'm not being charged interest which is something, but it seems Barclaycard are the biggest pain of my creditors.....so I think the plan is try and get 25% together and aim for settlement and go from there.........any experience of early settlements with BC..?

Sazzie23

Not being charged interest by BC is a good thing, they like to charge a little and then a lot.

The key to this is that balance rather than the notional minimum payment which is computer generated and doesn't take into account your low repayments. So as long as the balance is coming down, I wouldn't worry, but have no experience of F&f with Barclays.

Two threads that might help if you have time to give them a read, there is a final settlement thread. And also the DMP And mutual support thread.

happy_bunny_2

You could write to them and ask what they will be marking the credit file entry as once paid as per the DMP.

cms-help

phoenixx wrote: »

I have experienced many shades of Barclaycard's unreasonable ways. My advice is to pay them token payments for a few months. This is your best chance of freezing interest. I have yet to meet anyone who has had their Barclaycard debt passed to a DCA so if anyone has achieved this, I'd be interested to hear. The problem with them is that a) their departments do not talk to one another so you will get one telling you interest is frozen while another says you are in arrears and on 12.9% b) if you are paying them any more than about 1% (think this is the figure) on your DMP, then you do not qualify for frozen interest against their odd rules. £1 payments for a bit will chill their heels.

This happened with my MIL although, to be honest, she was never going to be able to repay the debt she had amassed with them. She had a Mastercard and Visa with them. £9.5k limit on one, maxed out, and similar on the other and just a state pension to live on whilst in private rented accommodation. One of them they wrote off and the other one is with a DCA on an absolute token payment and no interest being charged. Despite issuing default notices, her credit file had an AP marker for 4 years (if I recall correctly) and they then placed a backdated default.

Willbedebtfree1day

I know phoenixx asked had anybody had their Barclaycard Debt passed to a dca. I have been making token payments to Barclaycard for many years and when I recently contacted them to advise a change of address, received a letter from Cabot to advise they are now dealing with my debt.

Early days dealing with them so far, but will see what happens.