Barclaycard Grrrrrrr

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thegripper
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by thegripper » Wed Jul 14, 2010 9:21 pm
Hi all,

Just a question, I am being tormented by some of my creditors and one in particular is not playing ball.

I have been dealing with my creditors myself after stopping my DMP,
some have been ok but BARCLAYCARD are being a nightmare, I have been paying a certain amount of money to them for months now that was set up with them by my DMP company, but now that is finished and they are demanding a ridiculous amount of money from me which I cant afford.

I wrote to them offering a certain amount and sent them an expenses form explaining my position, well I got a letter back from them today saying that they were`nt happy with what I was offering and if I didnt raise the amount, they are going to start putting on additional charges to the account making it worse.

How much by law are these people allowed to take because ive heard that so long as they get a payment they cant refuse and can do nothing.

Could you please help

Thank you

 

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plasticdaft
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by plasticdaft » Wed Jul 14, 2010 9:32 pm
It is always worth paying what you can just in case they decide on court action,as a judge is unlikely to make you pay more than you can afford to. You could write to them explaining that you can only afford what you have offered and if they wont accept that amount and keep adding interest,there is little point in you continuing to pay anything to them(do not stop paying them though).

What made you end your DMP? Have you spoken to anyone else professionally about your debts?

Paul

 

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Storm
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by Storm » Wed Jul 14, 2010 9:33 pm
Unfortuately as the law stands with an informal arrangement such as a dmp the creditor can add any contractual charges to the account even if you are making token payments.

The creditor can also make formal demand for payment and take reasonable steps to recover the outstanding amount including legal action.

With Barclaycard you may well find the debt is sold on pretty quickly.

Have you considered a formal arrangement such as an IVA ??
Last edited by Storm on Wed Jul 14, 2010 9:40 pm, edited 1 time in total.

 

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kallis3
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by kallis3 » Wed Jul 14, 2010 9:42 pm
I do agree with Storm that they do not have to accept what you are offering.

Speak to an expert. Visit www.iva.com for a list of companies and reviews and give one or two a ring. You will receive free and impartial advice.

A more formal arrangement might be a good idea for you.

 

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thegripper
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by thegripper » Wed Jul 14, 2010 9:43 pm
I stopped paying my creditors via a DMP because i am on a low income and needed every penny I can get just to exist because im going through a divorce soon and have lost everything and the wife is in my home still while live with parents and even got my car repossessed because I couldnt afford to keep paying it.

I decided that it wasnt worth paying a company to deal with my debt for me.

In all honesty if I could afford to save to go bankrupt then I would but I just cant save the money, so im at my wits end really.

Im not really sure I can afford an IVA I looked into that when I first seperated, with Bains & Ernst and they told me I dont earn enough to set one up.

 

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Storm
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by Storm » Wed Jul 14, 2010 9:52 pm
Might be worth a revisit on finding the right solution for dealing with the debt....

I would pay them what you can based on the offer made. You will get the threats of door step collection and enforcement etc but the debt will no doubt be sold on to a Debt Collection Agency who will take a more pragmatic structured view.

In the meantime if you are paying what you can afford then you can do no more.

 

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plasticdaft
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by plasticdaft » Wed Jul 14, 2010 9:52 pm
How much are your total debts?? Are you working currently?

Paul

 

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thegripper
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by thegripper » Wed Jul 14, 2010 10:26 pm
Thank you everybody,

I owe over £27000 and it started last February when I went through a seperation and it just seems like I owe more now that when I first started.

I earn £824 per month in my present job. You see I used to earn more but I ended up leaving the area I lived and worked in for 20 plus yrs.

My quality of life is that low now, that I have been prescribed antidepressants because these debts are getting me down.

I only ended up with them because of a seperation I am in and I was the only one in the marriage that could get credit u c.

 

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plasticdaft
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by plasticdaft » Wed Jul 14, 2010 10:32 pm
If you have no house with equity(is this the case?) and a job that isnt affected by a bankruptcy then I would seriously consider it. You are clearly not coping with the debts and need real proper help.

If you are living with your parents what do you spend your £824 on? Obviously you have to have some money to petition for bankruptcy but could you manage to save up some money if you werent paying any creditors anything at all??

Paul
Last edited by plasticdaft on Wed Jul 14, 2010 10:34 pm, edited 1 time in total.

 

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thegripper
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by thegripper » Wed Jul 14, 2010 10:44 pm
My wife still lives in my house(my name is on the mortgage still you see) but I do not know how much it is worth because I cannot get a valuer in there you see I tried and she turned them away, from all accounts she had a valuer in there about 4 months ago and she told me there was equity in it but not enough to clear the debts.

I dont think my job would be affected by bankruptcy because its just warehousing you see.

I live with my mother (which is far from ideal) who is a pensioner and I give her just £50 per wk, then I have my usual living costs and have to pay my creditors and run a 12 yr old car that is seriously in need of some jobs doing on it.

 

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thegripper
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by thegripper » Wed Jul 14, 2010 11:16 pm
Could I borrow money from any source to help me go bankrupt or am I asking for trouble?

 

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plasticdaft
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by plasticdaft » Wed Jul 14, 2010 11:41 pm
If by any source you mean family then yes,if you mean a payday loan type agreement then not so fine. If you stopped paying your creditors how much could you save in a month??

Paul

 

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brad_con
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by brad_con » Thu Jul 15, 2010 9:38 am
have you talked to your creditors and said about your situation and maybe something could be sorted.
also what about the situation with your house as won't that still be in your name with your wife and couldn't you sell the house and get half profit.

 

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kallis3
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by kallis3 » Thu Jul 15, 2010 10:04 am
He's already tried that and it's not working.

I would perhaps speak to an expert, possibly via the link I provided or speak to the CAB.

Does your wife want to stay in the house? If so, then she should see about buying you out.

Otherwise, bankruptcy could be an option.
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