Barclaycard Debt and Apex.

eddie864

Hi.
I'm struggling with lots of debt. The biggest one is my Barclaycard debt. I used my card for my wedding and honeymoon and ended up with £3000 on the card after hardly using the card for years. The rate is quite high and interest is costing me nearly £70 a month even before I pay off any of the debt.

I'm on EESA and now disabled so I live on benefits with my wife and two young children.

I defaulted on a Mastercard after accidentally missing a couple of payments and was contacted by Apex (a management company I think) to whom I now pay off monthly what was a debt of £500. Since they froze the interest I am managing to pay this off £100 a month and they are happy with that. I imagine this has already damaged my credit file which was only mediocre to begin with. If I were to miss a couple of payments on the Barclaycard would they go for the same solution as Mastercard did? With the interest frozen I could pay this off in 18 months. I'd prefer to tell them I can't afford it and see what they offer - what do they usually do?

The only other worrying debt I have is for Gas and Electric. I'm with the Cooperative and I owe them over £2000 for utilities plus whatever I'm using. I'm applying for help via Charis grants (through British Gas) but otherwise the Cooperative want it paid over 8 months at £256 a month plus whatever I use.

Any advice would be appreciated. I've never been in this much debt before and it's really affecting our lives.

thanks,

Martin..

sourcrates

Hi,
Apex are a debt collection agency, they are not allowed to charge interest on a debt they have bought, unless your original agreement allows them too, most do not.
There are lots of people on this forum with "experience" of Barclaycard, I`m sure they will comment further on this for you, you can stop paying, and allow them to sell on the debt, that is one option, but there are others too.

National_Debtline

Hi eddie


The very first thing I would do in your shoes is to complete a Statement of Affairs (SoA) and post it in this thread so that we can see the full picture and not have to ask you lots of extra questions. The following link lets you paste your SoA into these threads very easily:


http://www.stoozing.com/calculator/soa.php


It sounds to me like you might also benefit from talking through things in detail with someone at one of the free advice charities. Whether your debt is with Mastercard or Barclaycard isn't really the main thing here - it's more about ensuring that you are budgeting for essentials first before trying to deal with any unsecured debts like loans, credit cards and overdrafts.


Dennis
@natdebtline

eddie864

Hopefully your link will start working soon and I'll post the results.

Thanks guys.