Barclaycard and AP markers

[mahharg]

If you hover your cursor over the 6 years symbol it informs you about the "Limitations Act 1980". I forgot to inform you that you can still go onto a DMP even if an account is defaulted.

[dx100uk]

The only law I am aware of is the one where which basically is a debt becomes unenforceable if no contact is made by the Creditor/no admittance of the debt is acknowledged by the debtor in the previous 6 years.

 

sri no.

 

Statute Barring is 6yrs of no financial transactions by YOU or any written ack by you. [regardless to whatever the creditor or a DCA send or do, bar getting a CCJ]]

 

as for credit files..

 

All references to a defaulted debt must be removed from your credit files after 6 years has passed from date of default,

whether paid off or not.

This is so that someone who continues paying something even after 6 years from default should not be at a disadvantage

to someone who pays nothing after default and ends up with a clean file after 6 years.

 

 

the AP marker should NOT be used in a manner that penalises the debtor.

 

dx

[mahharg]

the AP marker should NOT be used in a manner that penalises the debtor

 

The word should is a word I don't like.

 

I feel that an AP marker on my file entries would be a negative entry.

 

All CRA's show previous years markers 2,4 or even 6 years worth not sure how many.

 

So if I clear debt in say 3 years time,

 

The account will be on my file for a further 6 years so in effect my AP markers for Dec 2012 and subsequent markers will still be showing in 2021 whereas if I defaulted now

The account would be removed at the end of 2018.

 

As I mentioned I feel the AP marker IS a negative marker. Have I got a point here?

[dx100uk]

not saying you haven't.

 

there has been good success with getting AP markers removed and the first being replaced by a default.

 

ask the brig to write you a letter if needs be.

 

dx

[mahharg]

Thanks for reply DX100uk

 

there has been good success with getting AP markers removed and the first being replaced by a default.

I've never heard that before. Are you saying that if I've cleared my debt say 5 years after AP marker as been issued I could ask creditor to change that AP from 5 years ago to a default effectively meaning the account would drop off my file 1 year later instead of 6 years later?

 

Or

 

Would I have to request the change before I clear the debt and again would the default date be as you mentioned the date of the first appeared.

 

This sounds like my answer but it sounds too good to be true and I've been taught that if it sounds it then it is. If this is true then I am sitting up straight and listening. Have you any links to threads etc please?

[jboyd83]

This is the reason Im having so much trouble deciding best course of action for my situation....seems if you make an AP you are penalised somewhat and likely have to go about making a request/hound creditors for removal/change status to 'default', whereas if you wait for them to default you in the first instance it can clear your file quicker and is removed automatically in most cases.....hmmm..

[dx100uk]

Thanks for reply DX100uk

 

 

I've never heard that before. Are you saying that if I've cleared my debt say 5 years after AP marker as been issued I could ask creditor to change that AP from 5 years ago to a default effectively meaning the account would drop off my file 1 year later instead of 6 years later?

 

Or

 

Would I have to request the change before I clear the debt and again would the default date be as you mentioned the date of the first appeared.

 

This sounds like my answer but it sounds too good to be true and I've been taught that if it sounds it then it is. If this is true then I am sitting up straight and listening. Have you any links to threads etc please?

 

can i suggest you do a wee bit of reading

type in AP marker in our grey search bar top right

 

the former is correct BTW.

 

dx

[dx100uk]

This is the reason Im having so much trouble deciding best course of action for my situation....seems if you make an AP you are penalised somewhat and likely have to go about making a request/hound creditors for removal/change status to 'default', whereas if you wait for them to default you in the first instance it can clear your file quicker and is removed automatically in most cases.....hmmm..

 

you are ofcourse falling into the trap of 'thinking' you HAVE to get your creditor to enter into an arrangement you dont!!

 

simply....

 

TELL [dont ask] them they are only going to get £xxPCM for xx mts

as a goodwill gesture

and as a reciprocal GOGW they must freeze int & refrain from levying PENALTY charges.

if they wont

drop them to £1PCM for life.

.

as an example>

.

I am currently in financial difficulties and not able to meet my normal monthly repayments.

to show my goodwill, i am going to pay £5 for 6 mts.

 

i will update you in 6mts time or before, should my situation change.

.

could you please as a reciprocal goodwill guesture,

.

refrain from levying any penalty charges & freeze the interest on my account.?

.

Should you fail to assist me during a period of financial difficulty, contrary to all the guidelines and codes

issued by the relevent bodies and authorities that govern you and the way you conduct yourselves.

.

i shall have no alternative but to reduce my offer to £1PCM for the rest of the life of the account,

.

.

as your actions would do nothing to help me.

.

i thank you for your time.

..

.

dx

.

then pay by your internet banking site

.

and get reclaiming

.

TAKE CONTROL

.

or

if you have sent the above and they refuse

then write back........

.

.

i'm sorry, but you have failed to assist me during a period of financial difficulty, against all the guidelines and codes

issued by the relevent bodies and authorities that govern you and the way you conduct yourselves.

i repeat again, the contents of my letter dated dd/mm/yyyy, for want of clarification:

to show my goodwill, i am going to pay £XX for XX mts

could you please as a reciprocal goodwill guesture, refraining from levying any penalty charges & freeze the interest on my account.

i will update you in 6mts time or before, should my situation chance.

should you fail to help by refraining from levying unlawful PENALTY charges & freeze my interest,

i shall have no alternative but to reduce my offer to £1PCM for the rest of the life of the account,

as your actions are doing nothing to help me.

This is contrary to the rules you should operate under.

disgruntled account holder

dx

[mahharg]

Lovely post17 DX100UK. It's true that creditors think they can say no we won't accept £x but will accept £y. In fact they really have no choice unless they want to take the debtor to court which is highly unlikely (not impossible).

 

can i suggest you do a wee bit of reading

type in AP marker in our grey search bar top right

I have already done a bit of reading and will continue to do so for a while more.

 

This is the reason Im having so much trouble deciding best course of action for my situation....seems if you make an AP you are penalised somewhat and likely have to go about making a request/hound creditors for removal/change status to 'default', whereas if you wait for them to default you in the first instance it can clear your file quicker and is removed automatically in most cases.....hmmm..

I don't believe you are being dictated to about how much you want to pay. I believe you would simply like to be defaulted asap then you can inform the creditor how much you will pay. Then 6 years from default date it's bye bye account from credit file rather than having to apply to have the AP changed to default. This is what I want too.

[mahharg]

A problem I have is that I bank with Barclays with an overdraft of £1600 which I can't clear at the moment. My salary goes into it so Barclayloan could use the offsetting rule. Can I just request that they default my account then I will make an offer of payment.

 

I have just been reading about defaults and default notices I am now confused please advise whether my take is right/wrong.

A Default notice is issued prior to court action, selling debt to name a few reasons, but not to place a default on credit file.

 

A Default notice is valid for 6 years, then another can't be issued?

 

A Default is an entry on a Debtors Credit file and can be put on without notice but once put on drops off after 6 years and no more can be issued.

 

It is possible to have one without the other.

 

If both are issued they don't have to be the same date.

Once again this is my interpretation and I may have it wrong but I hope someone will correct me.

[dx100uk]

if you enter into an arrangement to pay

they will use the AP marker...simple - DONT enter into an arrangement do ass i said above TELL THEM.

 

as for your questions:

 

A Default notice is issued prior to court action, selling debt to name a few reasons, but not to place a default on credit file. - they dont have to issue a DN to place a default.or marker

A Default notice is valid for 6 years, then another can't be issued? unless you 'comply' with the org default no you cant have two or one after the other

A Default is an entry on a Debtors Credit file and can be put on without notice but once put on drops off after 6 years and no more can be issued. - as above

It is possible to have one without the other. yes

If both are issued they don't have to be the same date. correct

[mahharg]

if you enter into an arrangement to pay

they will use the AP marker...simple - DONT enter into an arrangement do ass i said above TELL THEM.

If I did this what markers would be placed on my file?

Would it be 1 then 2 then 3 etc etc upto 8?

 

I looked at both of the files from your good self.

 

Interesting what I read on that because my old Credit Card has over 3 years entries of AP Jan 2007 to May 2010. Now back to paying off as normal. Will be paid off in a few months so they will be stuck on my file till 2019 instead of till 2013 if default had been issued. From what I read an arrangement to pay should only be short term and last up to 6 months. I can't even use the card because it was blocked back in 2007 so I'm thinking they should have issued default after 6 months. From your previous posts I may be able to change the first entry to a default.

[dx100uk]

huh......

 

whatever is on your cra file will disappear on that markers 6th birthday.

 

if you have been defaulted

 

defined by a default date

 

the whole account will go on the defaults 6th birthday

paid or not.

[mahharg]

Basically what you are saying is write/email them tell them what I will be paying pay and asking to freeze interest? This would mean they issue a default, which is what I feel is best so job done.

 

Like I mentioned just a bit worried about offsetting from my Barclay account with my overdraft.

 

Thanks DX100UK most helpful:-D

 

Is that the time wow bed for me. goodnight, I will looking at thread later!

[dx100uk]

then open a parachute account for your income

not within the same banking group.

 

dx

[mahharg]

Thanks DX100UK

 

I would like to but I have a couple of cpa's going out which I might not be able to change in time and want to pay. In any case I may not have to change to a parachute account so quickly.

 

I know the advice on here is write/email but the seemingly sympathetic lady I spoke to a couple of months ago who agreed to £10 a month for the first 2 months mentioned that an option could be taking my overdraft and barclaycard debt putting it all together with the loan and making one outstanding balance - maybe interest free, Almost like an in house DMP. If they don't agree to interest free then I could accept it for what it is THEN default then ask for the interest free.

 

I'm also thinking that maybe I could request that they place a default on my file. This way I've got all I wanted. Again if they don't agree to this then I will have to default myself after getting all my debts in one. Net result loans Barclaycard and overdraft all marked default and interest free. Does this sound a good idea or not?

 

I failed to mention the 2 Barclayloans together total about £23000 and my contractual payments are just over £1000 a month. I actually could afford £200-£300 a month then in 6 months time up to about £700 when I've paid off my catalogue balance to avoid any interest on that.

 

The truth is I do want to clear this as quickly as possible.

[mahharg]

I've this morning been on the phone to Barclays collections.

I was wanting to hear what they had to offer before I write to them.

 

The lady I spoke to said that because I have had 1 of the loans for less than 6 months they can't restructure the loans.

Also they won't agree to anything unless I went to Stepchange (CCCS).

 

I did point out to the lady that whether they accepted my intended written proposal was irrelevant

because if that's my proposal then that's all I would pay and the only way Barclays could obtain more would be through the courts.

 

I did mention that I also would like Barclays to place a default on my file rather than an Arrangement To Pay (AP),

because then the account would be removed from my file 6 years from now rather than 6 years from settlement date with AP markers still showing.

 

 

She mentioned that if I went to Stepchange then the account would be in default but didn't mention that a default would be placed on my credit file????

 

Regarding interest, it looks like if I go via Stepchange then Barclays may freeze interest.

 

The reason I don't want to go via freshstart is because I have a few payday loans that my parents will be paying the difference for me

if I pay what my income expenditure states I can afford.

 

Meaning less for me to pay overall, so these would be clear in 3 months.

 

This could cause complications but I would have to submit them onto my Stepchane

so I don't can illustrate to Barclays how much I can afford.

 

Suppose the questions are:

1) Has anyone got Barclays to freeze interest on a loan without using Stepchange or any other DMP?

2) Has anyone managed to get a default placed on their file as opposed to an AP and if so were you on a DMP?

3) Shall I simply write to them and tell them this is what I can afford, please freeze interest and place a default on my file and i will update if thins change. And maintain it?

 

advice would be greatly appreciated.

 

Happy New Year to one and all:-)

 

Just to add this was the address I was supplied with on the phone. I was told that a bank branch could scan the letter to them so that'll be proof.

 

Barclays plc

ConsumerFfinance

Po box 362

Manchester

M60 3PN

[dx100uk]

do no.3.

 

they will auto default after 6 low payments anyhow via the CRA system.

 

dont forget to inxvestigate reclaiming

 

and i'm a bit concerned you have CPA set up with PDL's

 

pes i'd us SO only.

 

dx

[mahharg]

Draft drawn up what do you think. I'm always polite.

Loan Ref: xxxxxxxxx and xxxxxxxxx

Unfortunately I have come into financial difficulties because xxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx. This is not a decision that I have taken lightly and realize my obligation to pay back these loans.

If I were to go via Stepchange (CCCS), the amount I could afford to pay would be around £300(Total) a month. This amount would remain static for a considerable length of time due to payday loans that I have to pay as well.

If however you accepted £200 (£100 per loan) a month for 6 months first payment 20th Feb 2013, I could clear these expensive payday loans then look into reverting back to my contractual payments. Overall this would mean that I would be able to pay more to Barclays thus paying off my loan quicker.

The interest would make it impossible for me to lower amounts each month and pay off my loan Therefore I request that you freeze interest to assist me to lower my outstanding balance.

If because of this I need to clear my Barclays overdraft and close my Barclaycard, then I would request that you move them all into one with the loans making one outstanding balance with Barclays.

 

I would also require you to place my accounts in default instead of placing an Arrangement to pay (AP) marker. The simple reason I would like this is because In 6 years time my defaulted account would be removed from my Credit file (2018), yet an arrangement to pay marker will stay on my file for 6 years from the date that I settle my loans which I anticipate would be around 3-4 years time (2022-2023). I have no intention of obtaining credit before 2018 and an Arrangement to pay whichever way you look at it IS a negative marker. I would of course consider any suggestion you may have that would help.

I have attached with this letter a copy of my Income/Expenditure to illustrate my situation with my pro rata offer to ALL my creditors.

 

I would appreciate if you would please freeze the interest on this loan so the payments I make to you go towards reducing the overall balance.

 

Of course should my circumstances change and I'm able to pay larger amounts or pay the loan off early, I will do so. Please send me bank details and instructions as to what reference to use, so I can begin to make payments to you. Payment will be made by standing order from my new bank as due to the payday loanI have I may have to close my Barclays current account down. Please note I will require all communication about these loans in writing before I agree to anything.

To sum up, I sincerely wish to pay off what I owe to Barclays with your assistance. My proposal would clear my balance quicker than if I went through a debt management plan.

It is unfair that someone who makes an arrangement to pay suffers longer than someone who makes no payment, defaults on their account then agrees to an arrangement. I don’t want an adverse credit file for longer than necessary so request that you supply me a Default Notice or I will consider any suggestions. There seems a flaw in this situation.

If you refuse to my proposal of payment and issue a default notice then I may have to look at my options before continuing further.

 

I look forward to your response

 

 

Yours sincerely

xxxxxxxxxxxxxxxxxxxxxxxxxxxx

 

If that doesn't work then use the one from an earlier post from DX100UK. Thanks DX

i'm sorry, but you have failed to assist me during a period of financial difficulty, against all the guidelines and codes

issued by the relevent bodies and authorities that govern you and the way you conduct yourselves.

i repeat again, the contents of my letter dated dd/mm/yyyy, for want of clarification:

to show my goodwill, i am going to pay £XX for XX mts

could you please as a reciprocal goodwill guesture, refraining from levying any penalty charges & freeze the interest on my account.

i will update you in 6mts time or before, should my situation chance.

should you fail to help by refraining from levying unlawful PENALTY charges & freeze my interest,

i shall have no alternative but to reduce my offer to £1PCM for the rest of the life of the account,

as your actions are doing nothing to help me.

This is contrary to the rules you should operate under.

disgruntled account holder

[dx100uk]

bit too much waffle & info

 

;don't tell then about your other debts esp PDL's

 

you are asking them too

 

TELL THEM

 

pers i'd make the letter short and sweet as my example

 

dx

[mahharg]

What would they do if I told them about pdl's?

 

I understand what your saying but I would like to think that the sympathetic approach might work

- I can hear people laughing already

- then if that doesn't work take a more direct approach.

 

Has your suggestion worked with loan company (not dca).

there are no charges to be had simply that until I decide my next action interest is being put on at the normal rate.

[dx100uk]

if i were a bank

 

and i knew you were taking out PDL's

 

i'd think twice about when i'm going to get my money!

 

dx

[mahharg]

I see. So your saying that would influence weather or not they accept my proposal, although they wouldn't really have much choice.

 

This is the reason of why i want to reduce my balance for 6 months then go back to contractual payments after I have cleared these pdl's.

 

My contractual monthly payment with Barclays is £1040 a month which means I simply can't clear the pdl's at all. If they let me pay £200 for 6 months, everything would be fine. I can understand people thinking why don't I ask pdl's for payment plan? but I can clear these within 3 months, so not paying on time could well add more interest before a plan is agreed ultimately meaning I will pay more. Plus I have a catalogue with an interest free balance of £2600 if I pay before June 4th or £5000 if not.

 

I'm not saying what your suggesting is wrong DX but just feel that highlighting these pdl's simply puts the bank in the picture of how I can return to normal payments after 6 monhs. The main thing is that it'the truth.

[dx100uk]

its not a proposal

 

its YOUR MONEY

 

take control and TELL THEM

 

what YOU are going to do with it

 

NOT the otherway around.

 

as for the cat debt

 

watchout for charges

 

dx

[mahharg]

Thanks - your right

 

dear barclays

 

Due to unforseen circumstances I am currently in financial difficulties. I will be paying all I can afford which is £200 per month until my situation improves. I will contact you again in 6 months with an update of my situation unless it improves sooner. Please advise me your account details and what reference I should use so I can set up a standing order.

 

 

I hope you will be able to freeze interest during these difficult times.

 

yours

 

mahharg

 

 

1) Do you reckon I should tell them that I am to close my bank account down to avoid offsetting or should I just leave it empty then that means I would be charged an overdraft fee on £1600. Or could I leave myself at 0 balance as long as possible so effectively if they take it I could argue they have just took their own money?

 

2) Do you reckon that would warrant a default on my file or should I reduce it to £100 a month?

 

the cat is a buy now pay later. interest free before June. I am so determined to et that paid before interest goes on

Edited December 31, 2012 by mahharg