Help please with BC

Lyntonsbird

Please can anyone give me advice. I started my DMP with stepchange in October I was not behind with payment s until then. Barclay card said they received my letter about being unable to pay and going to SC putting my account in 30 day freeze. I then received at the beginning of this week a notice that my account could go into default. Today I received a default notice for non payment and no contact. What does this mean why so quick and is it a good thing

sourcrates

Lyntonsbird wrote: »

Please can anyone give me advice. I started my DMP with stepchange in October I was not behind with payment s until then. Barclay card said they received my letter about being unable to pay and going to SC putting my account in 30 day freeze. I then received at the beginning of this week a notice that my account could go into default. Today I received a default notice for non payment and no contact. What does this mean why so quick and is it a good thing

Hi,

There are many threads on barclaycard on this forum, most DMP'ers who have BC as a creditor, will be insanely jealous of you, as it's usually nigh on impossible to get a default out of them, well done !!!

Yes it's a good thing as you now know when the default will drop off your file, and you won't get the horrible "arrangement to pay" markers.

National_Debtline

Hi

Default means you haven’t kept up with your side of the contract by making the correct payments on time. It also means they’ll show a default marker on your credit reference file, which will stay on there for 6 years and have a negative effect on your credit history.

As sourcrates says though, it’s better to get the default on your credit file sooner rather than later. Once the default drops off your credit file after 6 years you can work on improving your credit history.

James
@natdebtline

Suseka97

Oh my goodness... I'm one of those DMP'ers who is pretty amazed at BC defaulting you so quick, and yep - am well jealous BC refused to default us, kept putting our minimum payment equal to the amount Stepchange paid -so kept charging full interest! Even took them to the Ombudsman, to no avail. It's taken them 3 1/2 years to sell the debt on (absolutely no idea why they did that - but hey) and I'm thrilled - no interest and now the default countdown can begin. Just pee'd off that they didn't do that sooner.

runforlife

Wow! A default so soon? Yep. That's a good thing. In fairness when I complained recently to BC who were the only ones who hadn't defaulted the chap on the phone very good and after a short while called back to confirm the default was being applied back to Jan 2014, just 1 clear month after the DMP started. I think as a result I will contact the others now and try to get them to bring their forward a few months.

Lyntonsbird

I'm shocked at the speed but maybe they listen to my letter and knew that was the only choice. But a part of me is still worried being a person who has never missed a payment this is virgin territory's fingers crossed so far so good. Thank you for your replies it helps knowing I'm not alone

sourcrates

Lyntonsbird wrote: »

I'm shocked at the speed but maybe they listen to my letter and knew that was the only choice. But a part of me is still worried being a person who has never missed a payment this is virgin territory's fingers crossed so far so good. Thank you for your replies it helps knowing I'm not alone

What is it your worried about ?

That's it now, debts defaulted, your paying it, nothing more to say, forget about it.

It can be a very weird experience when you first miss payments, trust me, the world will not end, there will be no one at your door, the creditor dosent care, it's all planned for in their buisness model.

runforlife

Lyntonsbird wrote: »

I'm shocked at the speed but maybe they listen to my letter and knew that was the only choice. But a part of me is still worried being a person who has never missed a payment this is virgin territory's fingers crossed so far so good. Thank you for your replies it helps knowing I'm not alone

Yep, been there. It's perfectly normal feeling at the beginning but then as you learn more about the industry with the help of people like sourcrates and fatbelly your opinions will soon change. Doesn't make you a bad person not being able to meet your payments.

ferry

runforlife wrote: »

Yep, been there. It's perfectly normal feeling at the beginning but then as you learn more about the industry with the help of people like sourcrates and fatbelly your opinions will soon change. Doesn't make you a bad person not being able to meet your payments.

Yes agreed. see my post here..
https://forums.moneysavingexpert.com/discussion/115430

These guys SC and FB helped me through no end..

There is always hope, never feel alone and we are all here to guide you/anyone through.One of the best bits of advice I ever got was to always 'just keep in touch ' with your creditors, usually calls are recorded at this level.
One thing to remember, when it comes to unsecured debt..YOU are in control.. So take control?Make that call.
In my experience times have changed. Takes a bit of bravado at the beginning but they all (have to) follow the same rule because they are bound by the same regulations. Pick up the phone.

Unsecured debt..cant pay? they wont take it away.

Best wishes
F

Lyntonsbird

It has been liberating and I'm learning to sing the mantra "do I really need it". Often I find mysel filling my basket then putting most back but in the end can't be bothered to queue. I found it hard telling my husband the debt had got so high. Learning to pull back and having the challenge to save money is something I think will be addictive I hope. I wish SC advised to get a pot of saving before you commit but I did ok doing my budget thanks to this forum. So far BOS have now frozen interest but only to may 17 so letter writing then. MBNA just froze interest and not heard a word since. BC as I mention and JD W set it low payment no interest. So far ok and no more head in the sand.

runforlife

MBNA maintained their no interest stance with me until the sold onto Link after about 2 years. Watch out for BC as they initially had zero interest and 'an informal agreement' with stepchange but then they whacked on charges and interest that would have meant the debt increasing every month until I complained. You need BC to default you early which they are notoriously poor at doing. However when I spoke to them last month (3 years in now) they were very good and backdated it.