what order to pay off creditors

happy_bunny_2

dobbollah wrote: »

yes thats what concerns me, especially with barclays as I have heard this,. My original plan was to save up and just pay the balance , once that payment is clear with a zero balance surely they cant default then?

Thats what I mean, they have defaulted people on clearing the balance. if they did that, I would go down the backdating teh default approach as that's not fair really.

dobbollah

so is there anything i can do to safeguard against this............

and to re-cap, it now seems better to work to clear the non-defaulted ones asap...then work on settlements on the defaults slow time

dobbollah

just got off the phone to moorgate to enquire as to their intentions, even if i paid the balance in full tomorrow the late markers would remain forever.

What was interesting was last time i spoke to them the guy told me if i bought the account up to date the late makers would all be shown as current and 'green'.

So I've raised a complaint......the call was recorded, could this bring me some leverage or will they just chalk it down to a training issue

happy_bunny_2

dobbollah wrote: »

just got off the phone to moorgate to enquire as to their intentions, even if i paid the balance in full tomorrow the late markers would remain forever.

What was interesting was last time i spoke to them the guy told me if i bought the account up to date the late makers would all be shown as current and 'green'.

So I've raised a complaint......the call was recorded, could this bring me some leverage or will they just chalk it down to a training issue

Its best to get things in writing.

Not sure what the outcome of their complaint will be, but if you don't like it, you can refer to FOS.

happy_bunny_2

dobbollah wrote: »

so is there anything i can do to safeguard against this............

and to re-cap, it now seems better to work to clear the non-defaulted ones asap...then work on settlements on the defaults slow time

Your plan seems sensible.

To safeguard against this, write to them and ask them what their intentions are regarding credit reporting if you maintain current payments and also if you pay in full.

Then, keep that letter safe.

dobbollah

happy_bunny wrote: »

It may be worth writing to both the non-defaulted ones, asking what they intend to report the account as. Both now, as long as you pay the amount you are and at the end, once the account is settled. That way, if they screw you over, you can complain and refer to FOS to get it fixed.

would this be about right?

To: Barclaycard
Dear Sir/Madam

Account/Ref No:xxxxxxxxxxxxxxxxxxxxxxxx

I am writing to you to seek clarification as to how you intend to report my account with yourselves:

Firstly, while I am in the agreement I have with you.

Secondly, providing I meet the agreed payments when the account is finally cleared.

If you could provide these details to me in writing I would be most grateful.

I look forward to hearing from you.

Yours faithfully

happy_bunny_2

minor tweak, sounds good otherwise:

Account/Ref No:xxxxxxxxxxxxxxxxxxxxxxxx

I am writing to you to seek clarification as to how you intend to report my account with yourselves to the credit reference agencies:

Firstly, while I am in the agreement I have with you.

Secondly, providing I meet the agreed payments when the account is finally cleared.

Thirdly, if I am able to clear the account in full.

If you could provide these details to me in writing I would be most grateful.

I look forward to hearing from you.

Yours faithfully

dobbollah

ill get it posted.............im so so grateful for your advice, ill update when i hear back

dobbollah

are Barclays obliged to provide the information I requested....?

nearly 2 weeks on nothing heard

patman99

I think they have up to 28 days to respond.

Also, you should be treating all debtors equally (unless 1 or more are catalogue companies and your customer/s are paying their weekly amounts). If you don't and 1 gets wind of another creditor being paid more than they are, they can refuse to carry on with the DMP, pull out and pursue you directly for the money.

As your family member is offering you £300 a month to help clear your debts, then that equates to an extra £60 for each creditor.

Paragon will be the first to clear in around 8 months, freeing-up money to go towards the rest of the debts.