on a Reduced payment scheme with barclaycard & without notice upped the interest rate

heatherks

hi, i have been on a reduced payments for 9 months with Barclaycard visa due to cut in income ...was paying monthly agreement of £60 a month and interest was still getting added on at 12% got statement in yeaterday morning and noticed it had jumped up to 23% making the monthly interest near enough what i'm paying them each month ...cant really affoard to make the monthly payment but it was the lowest they would accept owe just under £3000

and now with the new interest rate hike im going to be paying each month and getting nowhere again

....still on benefits & have never missed a payment either

can they do this without a letter informing me about it .....?

will have to try and get to see CAB on monday but any advice in the meantime would be grateful

Scousebird_2

Call them and let them know that until you have taken advice from CAB-you are not agreeing to their decision and that you want to see it in writing where in the terms and conditions of your agreement they are allowed to do this action without notice!!

I despise Barclaycard and I think this is mean what they have done to you xx

heatherks

just got a letter back from barclaycard after financial advisor at cab wrote to them ...they say they are unable to accept lower payment offer or reduce the interest and i MUST make the payments of £60 on time each month

cant get an appointment till after 19th may and the cab only advice me just to make a token payment again this month

any advice grateful as what to do now ....

cab say reduced payments b/card say agreed amount although i cant affoard that anymore