Should my brother be receiving more support than this?

-taff

If he is servicing the debt there's no reason for them to reduce the interest. If he wasn't servicing it, there's no reason to belive they would reduce the interest then either. They would just default and potentially continue to add interest, as some companies do, regardless of payment plan or DMP.

Are there any other debts he could reduce to miminum payment to throw more moeny at this one? Or coan he shift some to another card? It's never recommenced to turn unsecured debt into secured debt, but if this is causing him that much mental stress, could he add it to the mortgage and overpay later on? That's if he is certain that he would overpay, and that he does have job security. If he is unable to remain at work for whatever reason, the likliehood is he would default on his debts then anyway. Not scaremongering, just pointing out that no one's job is safe forever..

Sadly, mental health issues or no, not every company will 'help', it's not in their financial interest to.

midlander81

-taff wrote: »

If he is servicing the debt there's no reason for them to reduce the interest. If he wasn't servicing it, there's no reason to belive they would reduce the interest then either. They would just default and potentially continue to add interest, as some companies do, regardless of payment plan or DMP.

Are there any other debts he could reduce to miminum payment to throw more moeny at this one? Or coan he shift some to another card? It's never recommenced to turn unsecured debt into secured debt, but if this is causing him that much mental stress, could he add it to the mortgage and overpay later on? That's if he is certain that he would overpay, and that he does have job security. If he is unable to remain at work for whatever reason, the likliehood is he would default on his debts then anyway. Not scaremongering, just pointing out that no one's job is safe forever..

Sadly, mental health issues or no, not every company will 'help', it's not in their financial interest to.

HI,

He could potentially move the debt to a different card at some point in the near future but this won't an option for around 6 months due to his high credit utilisation and also the fact that he has already moved quite a bit of debt around fairly recently.

Not sure about the mortgage option - I will discuss this with him.

He should be able to remain working, in fact I think that work has been one the things that has kept him going. He is good at his job and is well respected within the company - I think that he needs this!

They did say that if he defaulted they would offer him a reduced payment plan/arrangement to pay at which point all interest and charges would be frozen. Seems strange that they would accept that when he is asking to pay his debt back, just a slightly lower rate of interest.

I think the fact that this company quite often offer interest rate reductions is aggravating me. If it was a case that they never offer a reduction, then I would be less annoyed, but they do. I had 6.9% until my balance was cleared simply by calling them and asking if there was any chance of a lower rate!

sourcrates

Midlander81,


You need to bypass the call handlers here, they will only be capable of agreeing to whatever it says on there computer screens.


Write a letter of complaint, detail your brothers mental health issues, also his outstanding repayment history, ask again for what you want, an interest rate reduction without blemishing his credit file, it is likely you will get it.


Mental health is a serious issue, they will have someone who deals with cases such as this, and at the very least, under FCA guidelines, they must treat customers fairly.

As with most things in life, you need to speak to the organ grinder, not the monkey.

sonuenjoys

To seek assistance on Barclaycard debt, you can approach Barclaycard directly for :

1. Minimum payment reduction through collections team (affects your credit file once on a payment plan)

2. Interest reduction through Superserver team (doesnt affect credit file) but your account should have an offer. This team will check for an offer if your account is not closed or suspended.

Thanks

worriedDan

Bc helped me out with an interest freeze and a slight apr reduction.

Anoneemoose

sourcrates wrote: »

Midlander81,


You need to bypass the call handlers here, they will only be capable of agreeing to whatever it says on there computer screens.


Write a letter of complaint, detail your brothers mental health issues, also his outstanding repayment history, ask again for what you want, an interest rate reduction without blemishing his credit file, it is likely you will get it.


Mental health is a serious issue, they will have someone who deals with cases such as this, and at the very least, under FCA guidelines, they must treat customers fairly.

As with most things in life, you need to speak to the organ grinder, not the monkey.

I’m no expert and am not deliberately trying to argue your point, merely that I don’t understand.

Why should people with mental health issues not have their credit files recorded corrrectly? I appreciate that people with mental health issues should be given assistance but I don’t get the credit record thing. Surely it has to be a true reflection?

As with people who may have long term physical illness/es, they would/should be offered assistance but I’ve never heard of them not having their credit files kept ‘clean’ if on some kind if ATP or payment plan

It reminds of when I used to work..I had a client who was diagnosed with bipolar disorder and during his manic phases, he took out many contracts with expensive equipment. We ended up writing them off but his credit file was updated accordingly because had it not been, then we and other companies were at risk of it happening again, and losing out.

Anoneemoose

To clarify - when I mentioned the physical illnesses, I meant in the regard to them having to give up work or something and not being able to pay.

Willing2Learn

Anoneemoose wrote: »

I'm no expert and am not deliberately trying to argue your point, merely that I don't understand.

Why should people with mental health issues not have their credit files recorded corrrectly? I appreciate that people with mental health issues should be given assistance but I don't get the credit record thing. Surely it has to be a true reflection?

I have an enduring mental health condition and diagnosis. I have a psychiatrist, social worker and two support workers. I have a team to support me. My illness means that for a few months a year I am not able to manage my affairs. Would it not be unfair for a creditor not to take this into account when deciding whether or not to mark my credit file negatively? Does that answer your question satisfactorily?

Anoneemoose

Willing2Learn wrote: »

I have an enduring mental health condition and diagnosis. I have a psychiatrist, social worker and two support workers. I have a team to support me. My illness means that for a few months a year I am not able to manage my affairs. Would it not be unfair for a creditor not to take this into account when deciding whether or not to mark my credit file negatively? Does that answer your question satisfactorily?

Thanks for your input but, no, it doesn’t really. I agree that these things should be taken into account and I also think individual circumstances should be considered, however, IF you (and I’m not saying you or OP’s brother are) are a potential risk, as in in those few months where you are so ill you need help with this sort of thing, could or have racked up loads of debts that you can’t pay back then isn’t it the responsible thing to report that?

marliepanda

Willing2Learn wrote: »

I have an enduring mental health condition and diagnosis. I have a psychiatrist, social worker and two support workers. I have a team to support me. My illness means that for a few months a year I am not able to manage my affairs. Would it not be unfair for a creditor not to take this into account when deciding whether or not to mark my credit file negatively? Does that answer your question satisfactorily?

You have people to support you, if you cannot manage your affairs a few months a year then they should do it for you.