23 May 2015

A question about : Barclaycard

Hello all
I'm six months in to a whopping DMP (with Stepchange). All going fine - have now been defaulted by Llloyds and MBNA. However, Barclaycard are still charging me interest and wont default me. From reading through posts on here I understand why they wont and it seems the advice to speed up the default is to drop the payment amount to the bare minimum. But how do I do this if Stepchange will only distribute my monthly payment equally between all my creditors? I don't really want to leave the support of Stepchange behind as it's early days and none of my account have yet been passed to a DCA. I just want the account defaulted so I can put all this behind me when the DMP ends in 6 years - without having another 6 years to wait until the Arrangement to pay markers drop off. I couldn't care less about not getting credit but I would eventually like to be able to apply for a mortgage. It's on old egg card taken out in about 2001, which was transferred to Barclaycard - not sure if that makes any difference. Any advice would be really welcome. Thanks

Best answers:

  • How much is owed to Barclaycard?
    They never defaulted me either, but I paid mine off with a full and final after 10 months. Mine was an old egg account as well, it was at the point of being sold on ( so they said) when I paid it off, maybe they are a bit slower at selling them on than other lenders?
  • thanks moohound. It's an eye watering Ј11k owed to Barclaycard so not much chance of me being able to offer a F&F anytime soon. Total debt is Ј40K. :-(
  • Have you asked bcard to default the account? have you written to them asking them to reconsider freezing interest? that works for some people on a DMP (template letter on national debtline you can use).
    Don't invent an emergency, but if you did happen to have an emergency one month and had to drop your whole stepchange payment to a token amount then they would just pay each creditor a token payment that month, with an explanation to the creditors. That may be sufficient to trigger bcard to default and stop interest. People do need to do this sometimes on a DMP when they have unplanned / unexpected expenditure.
    Have you tried requesting the CCA from Barclays for this old card? again that can sometimes help encourage them to stop interest (if they cannot produce it straight away)
  • Thanks Tixy - that's really helpful advice. I have asked Barclaycard twice to stop interest and default - and I get sent round in circles by them saying Stepchange haven't submitted the correct paperwork etc, so I'll follow up with a letter myself now to request it again. Good to know about the emergency fall back too. Thanks again
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