Barclaycard refund and account in default

wantamortgage

born_again said:

wantamortgage said:

• Do I now engage and refuse compensation and ask to set up payment plan (with this as first installment maybe)
• Do I continue to wait it out (2yrs 5 mnths left by my reckoning)
• Do I take the compensation and leave the communication
• Do I try to reopen or start new FCA/FOS complaint

Any advice would be gratefully appreciated, any trolling is fine as well as you cant make me feel any worse anyway. 
Cheers for any help

Could well be a internal review and not something that FCA/FOS asked them to look at. Or a general reminder that went out to all banks over persistent debt & general lending.
Not sure if FOS would revisit or open a new one, given that Barclaycard have contacted you, and many others. FOS may feel that as they have taken action that is enough.
Can you afford to start paying it back? 
You could try asking what amount they would be prepared to take to wipe the debt off, but would still show on your file.
A point to note is that even when you get passed the 6 years statute. They will still keep sending letters on a regular basis asking for payment.

Yes it looks more like a template letter from an internal review based on the persistent debt guidance, they even have another letter in there saying their sorry as they should have sent it in July but due to covid this didn’t happen. 

So I’ve worked hard to rebalance finances over the last few years, I’m earning a lot less than I was but have stripped out any an all luxury as well as been a lot more savvy on energy deals etc. Prior to covid I would say I could have started a payment plan, probably £100/£150 a month but now with current situation I am worried about future. My job is fairly safe but my wife is in a role that could see a down turn like 2008 and if that happened we would be screwed again. My main worry therefore would be setting something up and then having to default on that in the future. 

If they halved it to say 2500/3000 I may be able to borrow some money from a friend and use all our wages to pay it off and just do beans on toast for a month which to be fair at the mo isn’t a great sacrifice. The majority of that 5k debt is interest and fees. 

If I went for say £50 a month that would still be only £1450 over the 2yrs 5mnths left
i just do t know what to do. I’m a little scared to get into something only to default in it later but also I hat having this debt and it really is hurting us with even looking for a new rental now due to covid. 

Ideally I want them to offer a settlement at around £2500 and just get it done or for FCA to look at this again because this was one of my complaints and now their admitting some fault. And that’s not to wipe it off but just to get them to do the settlement as I do t think they will if it’s me that contacts them. 

wantamortgage

ManyWays said:

I wonder if you could reopen the FOS/FCA complaint if BarclayCard denied increasing your limit too high and now they admit they did???
Or just go back and say 40 quid is a joke after all the problems they caused you and you want a fair amount of the interest you paid back.

I revisited the final letter from them and they have a paragraph on the end saying it’s closed after a certain time and I will need to open a new one which I guess I could try.