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Full and Final Barclays
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boring1
Posts: 69 Forumite
Hello,
I am currently paying Barclays through step change i owe £3.5k I also owe Barclaycard £370. Then I'm done.
Barclays have offered to settle the debt at £1100 by end of October. told me to cancel my direct debit to step change this month - pay Barclaycard in full directly then at the end of october pay them £1100. I can afford this as I am currently paying step change £772 a month.
I am just a bit worried that Barclays won't stick to there side of the bargain - should I be worried or should I be thinking brilliant £56k worth of debt finally paid off next month.
Apologies for the rambling nature !!!!
xx
I am currently paying Barclays through step change i owe £3.5k I also owe Barclaycard £370. Then I'm done.
Barclays have offered to settle the debt at £1100 by end of October. told me to cancel my direct debit to step change this month - pay Barclaycard in full directly then at the end of october pay them £1100. I can afford this as I am currently paying step change £772 a month.
I am just a bit worried that Barclays won't stick to there side of the bargain - should I be worried or should I be thinking brilliant £56k worth of debt finally paid off next month.
Apologies for the rambling nature !!!!
xx
0
Comments
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Hi boring1
If you're trying to negotiate a reduced "full and final" settlement on this or any other debt then it's crucial that you get a clear and binding commitment from Barclays before going ahead with any payment. I would recommend that you read our guide to making such offers:
https://www.nationaldebtline.org/EW/factsheets/Pages/24%20EW%20Full%20and%20final%20settlement%20offers/Default.aspx
before you take the plunge.
Dennis
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Thank you for your response, I have agreed it over the phone, but letter is coming out to me - I am happy with what we have agreed.0
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