DMP Panic

Stitch35

Hello


I'm new here and I'm sorry if I'm posting this in the wrong place, or if this is something that's been answered before... But I'm just in a bit of a state about it.


I've recently been in contact with PayPlan and they have been sorting out a DMP for me. I got an email from them about an hour ago and it has advised that my biggest creditor, Barclaycard, have rejected the offer. I feel sick, because I genuinely don't know where on earth I'm going to get the money to cover this debt. PayPlan are still making the offered payments to them for now... But will the problem just keep getting worse with them adding on interest every month... and will there be CCJs and everything?


I'm sorry for the ramble... I've just managed to work myself up a bit about this and didn't know where else to turn.


T

Brightspark87

Hi, firstly well done on taking that step to contact payplan.

Barclays seem to be very awkward to deal with sometimes, and perhaps they may default or CCJ you. However, this is not the big deal it seems at first. You cannot get further credit and it will 'hurt' your credit report for some time but I am sure you do not need or want further credit until this is sorted out anyhow.

I am sure fellow DMP people will be here to help shortly who have experience with Barclays but we are all here for support. Did Payplan offer any words of advice? x

glentoran99

Don't worry about it, they will eventually default and sell it on, in fact your probably better off with them not accepting, because if they do then your credit file will be adversely marked for longer as they like adding AP forever, whereas if they default sooner its gone from your file sooner,

FireWyrm

Barclays always says 'no'. What they mean is 'can we trick/frighten you into paying more'. In your case, it seems to be working.

The rules of the game are thus :

1) You owe them
2) They must prove that you owe them
3) You make an offer
4) they tell you to take a hike
5) You write to them telling them politely but firmly that you will be paying X amount per month for X months.
6) They go, we'll sell it
7) you go, 'ok' and ignore them for a while
8) someone else comes along and you start from item 1 again only this time, go to next item.
9) They go 'oh ok' since there isnt much they can do about it. You are obliged to pay your debts, you are not obliged to take harassment or intimidation from them. You can only pay what you can afford and threats of court are empty. They wouldnt get anywhere even if they did take you to court.

DorisTrousers

FireWyrm wrote: »

Barclays always says 'no'.

Have to disagree with that bit I'm afraid. Barclays have always accepted any offer I have put to them for a DMP whilst working for a debt charity, and have frozen interest and collection activity in 100% of cases as well. Dependent upon regular payments being made of course.

It may well be that they have a policy to reject offers from other organisations of course, but as I don't work for Barclays I couldn't confirm or deny that one way or the other.

The rest of your post on that is pretty much bob on though I reckon.

KID77

Hi,
I am only a few months into my dmp but have 2 barclaycards and 3 Barclays accounts so i have a little experience with them. They wrote to me to say that the amount i was paying them would not be enough for a formal payment plan but to keep paying anyway. Stepchange wrote to me to say Barclays had rejected our offer on one account so I rung Barclays, they couldn't have been nicer. He said it was a computer generated error and not to worry as Barclays never take anyone to court. I have had no issues with them at all since and I am pying less than 3%of the outstanding balance so its not like they are getting alot from me.
Hope this helps but just ring Barclaycard to out your mind at rest :-)xxx

sourcrates

Nothing to worry about OP, pretty must standard Barclays responce really.

As glentoran says above, if they don't accept your offer, they will just sell the debt on, that's how it works.
Original creditors almost never take legal action over consumer debts, they just cut there losses, and sell it on, you would just pay the new owner, the same as what you offered Barclaycard.

Just roll with it, and carry on as you are.

BristleFish

The most likely outcome is that your debt will be sold on, which is a good thing, as third party's are much more likely to freeze interest and charges .