Barclaycard Credit Card Debt

Many people find it hard to repay their debts, which in turn causes money worries and can add to amounting stress.

There are always solutions to repay a Barclaycard Credit Card debt and you can make alternative arrangements that suit your unique needs.

In this article, we will discuss the many roads you can go down to sort out your debt.

Why Is Barclays Contacting Me?

Missing any payments on your account will result in Barclays getting in touch with you as soon as they are notified about the situation.

Especially if you have not contacted them first explaining why you cannot make the payment at this time.

Make sure to keep in touch with Barclays Bank UK PLC about any financial difficulties, as they will be able to offer you help and support.

Should I ignore their letters and calls?

Ignoring any calls and letters regarding your debt is a bad idea since it will only cause you further hassle in the long run.

This may result in the debts becoming more difficult to resolve, meaning you may receive more letters and calls until you eventually decide to contact them.

As soon as you receive any form of contact from Barclay Bank UK PLC make sure to respond in a timely manner.

If you are struggling to pay back your debts, it is always best to be transparent about your money worries.

What if I can’t afford to pay my Barclays debt?

Telling Barclays you are unable to pay and explaining your current financial situation may help you find a reasonable payment agreement that caters to your unique budget in monthly instalments.

This will take the financial pressure off you and reduce the contact with Barclays Bank UK PLC.

You should contact a free debt charity for professional financial advice as soon as you are aware that you won’t be able to make your scheduled payments.

Keep reading to find out how you can contact Barclays Bank UK PLC.

What can I do to stop Barclays chasing me?

Wanting to stop all contact with Barclays bank may be difficult, however, you can contact them to request that they communicate in writing.

When you request written communication you will not receive any unwanted calls or texts regarding your account.

Barclays also offers ‘breathing space’ which includes a 30-day reprieve from unnecessary contact.

This then allows you to re-evaluate your financial situation and seek out professional debt advice if you’re struggling to come up with a solution.

The main idea of ‘breathing space’ is to encourage you to take as many steps as possible to confront your debt problem head-on.

This then increases the chance of you being able to repay without having any more money worries.

Does Barclays settle the debt?

Barclays will regularly settle your debt on the basis that it is marked down on your credit score as an inability to pay in full and on time.

There may be restrictions as to when Barclays will consider settling debt, so always get in touch with Barclays to discuss this possibility.

Check if it’s statute-barred

Statute-barred means that the debt cannot be legally enforced if it is more than six years old and you haven’t paid anything off it or had contact regarding the debt in that time.

However, if you acknowledge the debt at all in the six years the debt is reset and the time starts again.

Although, if the debt is statute-barred it does not always stop debt collectors from attempting to collect the money from you.

If you are being chased you are not legally obligated to pay the money if it is statute-barred and there is nothing the debt agency can do since it is no longer legally enforceable.

Which debt collectors does Barclaycard use?

Many debt companies are involved with Barclaycard.

The bank itself is authorised by The Prudential Regulation Authority financial services register number 759676 as well as also being authorised by The Financial Conduct Authority.

An example would be the Central Debt Collection Services which deal with business and personal loans in arrears to Barclaycard Debt.

If you had a Barclaycard debt you would most likely hear from the head of a company, such as Central Debt Collection.

How will having debt with Barclays affect my credit score?

The debt will be noted on your credit file which will then remain on your record for six years, even if you manage to settle the debt in that time.

This means that it could potentially harm any future loans you may wish to take out, such as a car loan or money for a mortgage.

What will happen if I ignore Barclays or don’t pay?

If you choose to ignore Barclays, court action may be taken against you if don’t attempt to make any sort of payment arrangement.

The court action may not come directly from Barclays, since they may pass your debt on to a debt collection agency that will contact you on their behalf.

Does Barclaycard sue for unpaid credit card bills?

Barclaycard can hire a solicitor to file a breach of contract and sue you. If you do get sued by Barclay’s it wouldn’t be a good idea to ignore it.

The main reason for this is because they have a legal right to withhold your wages from your employer (if you have one) until the consumer credit protection act prohibits the employer.

How can I complain about Barclays?

There are quite a few ways you can complain about Barclays, either by post to Freepost Barclays Customer relations, you can make an in-branch complaint, online, or over the phone.

If you are still not satisfied with the outcome of Barclay’s response you can refer the complaint to the Financial Ombudsman Service.

Where can I get help with my credit cards debt?

Going directly to Barclaycard would be a good option since the debt would be with them.

They can offer you help and advice on what your next steps will be and eventually come to an agreement on how much you can pay off per month.

You should contact a debt advisory service as soon as you realise you will struggle to repay any debts.

What credit card debt solutions are there?

Here are a few solutions that may appeal to you:

Debt Management Plan (DMP)

A debt management plan is an informal agreement between you and your creditors that guides you in the right direction to help you to manage your debt issues.

A debt management plan would be the best way to get help and support for your debt.

You can pay the money back in monthly instalments depending on how much you can afford to pay back.

Individual Voluntary Arrangement (IVA)

This is a government arrangement made with your creditors to pay part or all of your debts in controlled monthly payments.

An IVA gives you more control over your finances and helps you to avoid filing for bankruptcy.

Debt Consolidation

Debt consolidation is a way that all of your debts can essentially be rolled into one and this way there may be a way that you can lower the monthly payments or at least simplify them.

However, Debt consolidation does not erase your debt.

Debt Relief Order (DRO)

If you have a debt that is less than £30,000, limited assets, and less than £75 a month spare income you can apply for a Debt Relief Order.

This means that lenders cannot legally chase you for the money and after 12 months your debts are written off.

This then reduces any money worries you may have.

Final Thoughts

If you would like to check how much debt you owe the best thing to do is to check your credit file which will contain any information about any of your debts.

This is because your credit file is used to calculate your credit score.

The best credit reference agencies in the UK would be, Experian, Equifax, and TransUnion.

Debt Help Information

There are many Debt solutions out there to fit your financial needs and make sure you are guided through the process of repayment as smoothly as possible.

Interested In Finding Out More About The Debt Solutions Available?

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