Ahh, Yes, Barclaycard again. Account shows OK….But it's not.

runforlife

So in my DMP according to Noddle I am showing as defaulted on 4 of 5 accounts. Nat West x 2, MBNA (now Link financial) and M&S.

However Barclaycard have been a different animal as numerous other threads show. My BC record shows since the DMP
AA, AA, OK which takes me up to December 2013 and then Jan to August 2014 AR (Account up to date).

In Sept, Oct and Nov 2014 it reads 2 (AA) and then in December 1 (AA)

Finally in January 2015 a nice green OK 'Account Payments Up To date.'

My circs changed in Sept last year where we had to reduce payments to DMP due to Mrs RFL redundancy. Oddly Barclaycard then stopped charging interest that they were previously adding when we were paying them more.

I just don't understand why the last month is reading OK. I have yet to ask them to register a default and may well do so as the others all defaulted at some point in 2014. Any ideas?

Meatloaf1981

I have found, having spoken with them this afternoon, that if your payments are above 1% of the balance outstanding then they will not register a default on the card, and will simply show you as having an arranged repayment plan or being in arrears. I pay less than 1% of the balance and have done since the beginning of my DMP this time last year and they are only now agreeing to default me and to backdate it to December last year ("ish" in their words).

You may find that in order to be defaulted, you will have to reduce your payments to them to £1 tokens citing "further financial difficulty" before they consider defaulting you and selling on the debt to a more agreeable third party.

Bettingmad

runforlife wrote: »

So in my DMP according to Noddle I am showing as defaulted on 4 of 5 accounts. Nat West x 2, MBNA (now Link financial) and M&S.

However Barclaycard have been a different animal as numerous other threads show. My BC record shows since the DMP
AA, AA, OK which takes me up to December 2013 and then Jan to August 2014 AR (Account up to date).

In Sept, Oct and Nov 2014 it reads 2 (AA) and then in December 1 (AA)

Finally in January 2015 a nice green OK 'Account Payments Up To date.'

My circs changed in Sept last year where we had to reduce payments to DMP due to Mrs RFL redundancy. Oddly Barclaycard then stopped charging interest that they were previously adding when we were paying them more.

I just don't understand why the last month is reading OK. I have yet to ask them to register a default and may well do so as the others all defaulted at some point in 2014. Any ideas?

Are you paying an amount that would equal the normal contractual payments?

I have three years of AP payments, for the last 4 months they now show as okay. When I queried this they said because my DMP payments are now of a level that meet the normal contractual payments then my credit file is reflected to show okay.

happy_bunny_2

Bettingmad wrote: »

Are you paying an amount that would equal the normal contractual payments?

I have three years of AP payments, for the last 4 months they now show as okay. When I queried this they said because my DMP payments are now of a level that meet the normal contractual payments then my credit file is reflected to show okay.

Makes no sense, what about all the arrears that built up?

Bettingmad

happy_bunny wrote: »

Makes no sense, what about all the arrears that built up?

It is Barclays we are talking about, there is little that make sense when on a DMP with them.

I'm not spinning a yarn if that's the suggestion?

happy_bunny_2

Nope. I believe you. It's just their excuse doesn't stand up.

They seem to make stuff up

sourcrates

happy_bunny wrote: »

Nope. I believe you. It's just their excuse doesn't stand up.

They seem to make stuff up

And this is a surprise to you lol !!!!!

blisteringblue

Don't even spin them a yarn, just pay them £5 until they default you.

I had 20 mins on the phone with them last week telling them they are my only creditor charging interest. I just said I am paying you £5 until you default me. They were not even slightly bothered.

I've since received a letter saying thanks for agreeing to the regular payment (the £5) they will stop interest while I keep making this payment but as it isn't enough for a formal payment plan my debt will eventually be closed and passed to their collections team for recovery.

So the only way to deal with Barclaycard is to basically stop paying them. I've had to leave stepchange and go it alone because of this but it will be worth it in the long run.

runforlife

Many thanks for everyones replies. Interesting. I am not currently paying the contracted amount and have not done so since November 2013. However I am paying the amount on the statement which is the agreed figure with Stepchange. I wonder if that is the reason why it now shows OK?

happy_bunny_2

rubyjam wrote: »

We have almost 4 years of AP markers on our 5 Barclaycard accounts. Last summer my OH had to have knee surgery which resulted in us having to make quite a considerable reduction in payments to our DMP. This was for 6 months (OH was still able to work but fewer hours).

These lower payments seem to have triggered Barclaycard to start the Default process (yay!!!). The default letters have started to arrive, they are dragging their heels a bit though - so I'm not celebrating just yet.... but fingers crossed we will finally have a date for a clean credit file to look forward to. Once defaulted I will write and ask them to backdate defaults to the date we started our DMP but I will cross that bridge when we get to it.

If you want them to default you my advice is pay them a little as you can - although I'm not sure SC will allow this.

It seems strange that they are currently marking you as 'OK' while you are in a DMP, but then again as other posters have said .... you are dealing with Barclaycard!

You could always do the DMP yourself. Plenty of support available.

HB

B0B

I complained to the FOS about them.

Got £300 interest refunded and a settlement of 40% of debt.

I think other threads on here detail similar things.

They also removed all reference from my credit file.