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DMP Help
Krongo
Posts: 2 Newbie
Hi, I'm not sure if this is the right place for this but basically I'm in the process of setting up a DMP with stepchange and one of my creditors is Barclaycard. My current account is with Barclays who I don't have any debts with but Barclaycard is a trading name of Barclays so I'm aware of the possibility that Barclays could use the "setting-off" process to get some of the money owed to Barclaycard. My question is if I change current accounts by using the switch guarantee could barclays still use this process and take money from the new current account with another bank? Thanks
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Comments
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Hi,
You shouldn't be looking at a switching service, what you need is a basic bank account with another bank with whom you have no debt.
Having no OD facility helps you to live within your means, no more credit is a good thing.
Barclays cannot do what you describe, they can only take money from accounts in your name held by them, and associated companies, not from accounts held with another bank.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-letter0 -
Okay thank you. I don't have an overdraft with Barclays anyway, I just wanted to use the switching service so I wouldn't have to contact everyone I have direct debits with individualy to get them changed.0
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Okay thank you. I don't have an overdraft with Barclays anyway, I just wanted to use the switching service so I wouldn't have to contact everyone I have direct debits with individualy to get them changed.
Oh well in that case you should be ok then.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-letter0
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