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Barclaycard full and final offer

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I have an outstanding debt to barclaycard. Over the past two years I have been making either £1 token payments or reduced payments (below monthly minimum) and they even suspended interest for a while.

Despite this, they haven't sold the debt on and are still dealing with it in house.

3 weeks ago I offered them 40% f&f. Today they came back back to me with a counter of 70%.

I've never been in a position where I'm offering f&f before so I don't really know if this is their best offer kind of thing. Do I have to agree to this (if I can £wise) or could I go back seeing if they can meet me somewhere in the middle?

What have others done?
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Comments

  • sourcrates
    sourcrates Posts: 31,520 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    This is quiet a common theme with Barclaycard, there are many, many threads on MSE about BC not defaulting people.
    I think there logic is that once a customer is back up to date with there payments, they then continue to be a customer, and therefore a source of income for BC.


    You can make them a counter offer, and see what they come back to you with, I suspect they will not budge much further, as they may still see you as potential future business, hence the unrealistic settlement figure.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Ok thank you for your thoughts.

    Maybe I will just pay it and have it done with!
  • zenshi
    zenshi Posts: 1,133 Forumite
    Part of the Furniture 500 Posts
    B....card are just ridiculous !!

    I've been in DMP paying token payments to them for couple years bow. They have stopped interest but refuse to default me! Only this morning I got a letter saying ' you haven't used your credit card recently, if we don't hear from you we will close it' WTH.....
    LBM.....sometime in 2013 £27,056. 10 creditors
    June 20.....£7,587.....3 creditors left 72% paid

    £26,200 on interest only part of mortgage (July 16)...will chip away £17,103
    £49,200 repayment mortgage ( July 16) £37,764
  • So you think I did well to get any kind of discount from them?
  • fatbelly
    fatbelly Posts: 22,952 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    So you think I did well to get any kind of discount from them?

    I do

    I'm struggling with a case with them - they refuse to accept any offer made so far.
  • Fat belly - I hope they give in to you soon.
  • I had a full on Wimbledon final style negotiation with them! Discussion began in October and figure was agreed at 60% if I paid up before the end of the year. I called to pay at 4.30pm on 31st December ;)

    Ended up being sheer stubbornness on my my part. Early December we were quibbling over £20. Settled on £700 (the figure I'd gone with on the second offer.

    Kate x
    LBM 17th Oct13 - SC DMP - DFD 10th Feb 2018
    paid pre-DMP £6146 :D paid with DMP £2275 :D F&F's £700 (£450 discount) £1,000 (£1,498.22 discount) £ 700 (489.62 discount) :D Total £9725

    Current debt to repay £3,503.13 taking one day at a time
  • B0B
    B0B Posts: 105 Forumite
    Ninth Anniversary Combo Breaker
    Did they AP or Default you.

    They AP'ed me, when I complained they removed my debt from credit file and then gave me a settlement figure and refunded intrest
  • How does this work?

    Does it reflect on your credit file when you try and negotiate?
  • I only ask as one card I am paying is only for 800 with barclaycard but it's like 400 over the limit stemming from student days so my payments each month don't take me under but it would be best probably to just save then pay it all when I do have enough to go Under the over payments
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