Neck deep in debts

tylery

I get paid into a barclays account and almost all of our direct debits are in that account. i will be defaulting a barclaycard....should i move everything to a dfrnt bank account. I thot i read something along those lines here...please correct me if i am wrong. 

Andyjflet

tylery said:

I get paid into a barclays account and almost all of our direct debits are in that account. i will be defaulting a barclaycard....should i move everything to a dfrnt bank account. I thot i read something along those lines here...please correct me if i am wrong. 

Yes, open a totally independent account, I can recommend CHASE and you'll also get 1% cash back on your purchases, easy to use pots and save with CHASE too. 

Jacksonc2114

tylery said:

I get paid into a barclays account and almost all of our direct debits are in that account. i will be defaulting a barclaycard....should i move everything to a dfrnt bank account. I thot i read something along those lines here...please correct me if i am wrong. 

Whilst I’m no expert I’ve been given this from step change as I asked similar … they advised me to move my personal sole  account away from the bank due to debts with them to avoid this right to offset.. 
https://www.stepchange.org/debt-info/debt-collection/right-of-offset.aspx

Rob5342

Andyjflet said:

tylery said:

I get paid into a barclays account and almost all of our direct debits are in that account. i will be defaulting a barclaycard....should i move everything to a dfrnt bank account. I thot i read something along those lines here...please correct me if i am wrong. 

Yes, open a totally independent account, I can recommend CHASE and you'll also get 1% cash back on your purchases, easy to use pots and save with CHASE too. 

Monzo and Starling are very good too, especially the pots and spaces which make budgeting far simpler. Starling pay interest on your balance and Monzo are introducing cashback, but only as limited offers on specific things.

tylery

Rob5342 said:

Andyjflet said:

tylery said:

I get paid into a barclays account and almost all of our direct debits are in that account. i will be defaulting a barclaycard....should i move everything to a dfrnt bank account. I thot i read something along those lines here...please correct me if i am wrong. 

Yes, open a totally independent account, I can recommend CHASE and you'll also get 1% cash back on your purchases, easy to use pots and save with CHASE too. 

Monzo and Starling are very good too, especially the pots and spaces which make budgeting far simpler. Starling pay interest on your balance and Monzo are introducing cashback, but only as limited offers on specific things.

I have Monzo already...better

tylery

I cancelled all my direct debits and now i am getting calls from creditors. What do i tell them..that i can't make a payment?

Grumpelstiltskin

Don't answer them if at all possible, block their numbers.. If you do just tell them you want all communication by letter and put the phone down. Don't get into conversations with them.

tylery

Grumpelstiltskin said:

Don't answer them if at all possible, block their numbers.. If you do just tell them you want all communication by letter and put the phone down. Don't get into conversations with them.

Ok thanx ..1 of them called my workplace

RAS

tylery said:

Grumpelstiltskin said:

Don't answer them if at all possible, block their numbers.. If you do just tell them you want all communication by letter and put the phone down. Don't get into conversations with them.

Ok thanx ..1 of them called my workplace

In which case you might wat to contact them and instruct them to remove your work number from your record. And tell them to communicate the n writing.

sourcrates

Debt management works best when you plan it out beforehand.

Remember the 5 "P`s"....Pre-Planning Prevents Poor Performance.

Planning is everything, from opening new bank accounts to avoid set off, obtaining defaults through non payment, and preventing collection calls by invoking GDPR and insisting on written comm`s only.

Taking control of matters and been pre-emptive makes for a much smoother ride all round.