Asking Barclaycard for a payment arrangement

Looking4help

Hi everybody,

I posted a little while back asking for some advice after we'd had a traumatic year last year and it had affected us financially.

I'm going to ring Barclaycard in an hour and ask them if they'll allow us to set up a payment arrangement - I was wondering if anybody knows whether they're likely to agree to this or not and whether any body has any tips please?

Many Thanks

happy_bunny_2

How long would it be for?

Is it your only debt?

Looking4help

Thanks for replying. I was going to ask them if we could revisit it in a year when hopefully we will be back on our feet. Apart from our mortgage and 1 loan which has around £1k left, yes it's our only one however it is massive. It's £20k

Looking4help

Any ideas anybody? Thanks

Meatloaf1981

I would suggest it unlikely that Barclaycard will accept a one year payment break, particularly if you still plan on servicing any other debts you might have. If you post up a Statement of Affairs, it might be helpful to see where your budgeting issues are before anyone gives you some specific advice.

Looking4help

Thank you meat loaf. I posted one before so I've bumped that thread titled 'any advice greatly appreciated, a little bit stuck '

Meatloaf1981

Hi, you said in your previous thread that you were writing to Barclaycard back in the middle of March. Did you do so and what did they say?

Also, from your SOA there were a number of questions because on the face of it you were able to service your debt and be left with £45 a month after everything had been paid out. If this is not the case then the SOA is not accurate and as was pointed out "represents a wish list rather than an accurate summary". You need to go through your bank statement and accurately record where your money is going. I'm guessing there are expenditures you have not accounted for. Given your SOA, Barclaycard would not be willing to reduce your payments as they can see that they are technically affordable going by your SOA.

How accurate is it?

happy_bunny_2

You can always just reduce your payments, write to them to say what you can afford. Looking at the people on DMPs that they don't default, you would be unlucky to get defaulted.

Have you talked to a debt charity, like Stepchange? Aldo have an online calculator that can advise what to do.