Letter from Barclays

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kerry994

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Post by kerry994 » Mon May 18, 2020 11:35 am
I got a IVA out in February and one of them included was my BARCLAY LOAN they are now sending me letters saying that under section 87 of the Consumer act the requirement to not become insolvent has been breeched and that I now need to pay the money in full of £2,500 as daily interested is being added and they are terminating the iva agreement with in 3 weeks
The letter also says if I have difficulty paying any sum under the agreement I can apply to the court to secure more time , I have found this letter so distressing as I thought my debt worries were under control can anyone offer any advice please ?

Foggy

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Post by Foggy » Mon May 18, 2020 12:33 pm
This is a matter between your IP and Barclays ---- pass it to them to deal with.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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kallis3

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Post by kallis3 » Mon May 18, 2020 1:12 pm
Nothing to worry about - you are covered by your IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
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Lisa Thomas

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Post by Lisa Thomas » Mon May 18, 2020 1:47 pm
You need to speak to your IP about this.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

WallE

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Post by WallE » Mon May 18, 2020 8:16 pm
Barclays are terrible at wording their letters and tend to make them sound much scarier than they actually are. They shouldn't really out the payment demand wording in there but they often do. Naughty.

By acknowledging that you've entered your IVA they've at least confirmed they know you're in one. By entering the IVA you've defaulted on your agreement and this is what you've likely received; a default notice.

Barclays are most likely already in correspondence with your IP through their representative/account servicer, but you should contact your IP with a copy of the letter to be 100% sure.

I would be confident you shouldn't worry about this or lose any sleep over it.

luluj

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Post by luluj » Tue May 19, 2020 4:46 am
Pass the paperwork to your IP and allow them to do the discussion. You are protected by your iva - it will more than likely that the reason for the letter is that different departments within Barclays are not updating or speaking to each other.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

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