Barclaycard written off debt!
Options
iamugly
Posts: 9 Forumite
Just had a letter from Barclaycard saying they are giving me £75 inconvenience payment for poor service and writing off my whole balance as partially settled. £6200!
And they go on to say as its over 6 years old it wont reflect on my credit file.
Been intouch with SC who we have a DMP with and they say theyve had loads ring about the same thing. Writing off thousands!
Why would they do that?
And they go on to say as its over 6 years old it wont reflect on my credit file.
Been intouch with SC who we have a DMP with and they say theyve had loads ring about the same thing. Writing off thousands!
Why would they do that?
0
Comments
-
Wow! Brilliant news. Never lose the letter!Loan 1 £5200/£8000
Loan 2 £300/£5800
Total £5500/£138000 -
SC said keep hold of it but they have put the account to zero!!
Just wish the others would follow suit!0 -
Nice! What was the basis?
August 2019: £28.8k
November 2020: £0 (0% interest)
My debt free diary: https://forums.moneysavingexpert.com/discussion/comment/77330320#Comment_77330320
0 -
Why would they do that?
They have taken whats called a "commercial decision".
Instead of waiting years for money to trickle in, they have decided it makes more sense (to them), to just write off the loss completly.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 -
Brilliant news!
Just wondering if it is something to do with this maybe?
https://debtcamel.co.uk/barclays-refund-customers-arrears/
Well done0 -
Ooh that’s so good, what a relief that must be for you.
We have two Barclaycard accounts with Link and have CCA requests in since January with no response...so hoping we get letters like yours!!0
This discussion has been closed.
Categories
- All Categories
- 343.4K Banking & Borrowing
- 250.2K Reduce Debt & Boost Income
- 449.8K Spending & Discounts
- 235.5K Work, Benefits & Business
- 608.4K Mortgages, Homes & Bills
- 173.2K Life & Family
- 248.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards