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  • #1

    Barclays Demanding Information.

    Hi all

    My wife and I are personal guarantors on an UNSECURED Barclays business loan which is now in default. We have contacted Barclays with a current I&E statement which shows us having no disposable income after priority debts etc.

    Barclays have written to me today asking for details of my mortgage, outstanding balance, term remaining etc.

    I have two questions:

    1. Does anyone have a view on why they want this information on an UNSECURED loan?

    2. Do I have to supply this information?

    Many thanks in advance!

    Tags: 1st, barclays, business, ccj, charging order, con, courts, creditors, debts, default, defaults, details, fee, income, information, interest, law, loan, loans, mat, mortgage, october, order, payments, personal, property, questions, repayment, see., unsecured, wife
  • #2
    Re: Barclays Demanding Information.

    Hi Admax

    I have no experiance in busness loans I am sure some one with more info than i can give will be along soon
    good luck NW
    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: Barclays Demanding Information.

      Hi Admax,
      They presumably want to suss out whether you have equity so they know whether it would be worth getting a CCJ/Charging order to convert it to a secured asset.

      I wouldn't tell them anything, personally. You have no obligation to do so, although if you're trying to negotiate a repayment plan or writeoff it can on occasion be in your best interest to jump through their hoops, if the info supplied backs up your hardship.

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      • #4
        Re: Barclays Demanding Information.

        Presumably as they want to know if you have any equity etc they could go after, or that you might be coerced into releasing or agreeing a voluntary charge for.

        How they approach dealing with a case where you are sitting on a pile of equity but not paying this loan would likely be very different to one where someone was up to the hilt with negative equity?
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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        • #5
          Re: Barclays Demanding Information.

          Thanks for the replies guys.

          I do have some equity in my property, but not a great deal. Obviously I won't agree to a voluntary charge on my house, so how likely are they to get a charge through the courts when they haven't even tried for CCJ yet?

          I was under the impression that creditors sometimes went for a charging order if and when someone defaults on the payment agreement ordered by the courts?

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          • #6
            Re: Barclays Demanding Information.

            From October 1st this year, on any new CCJ they do not have to wait for you to default on the CCJ payments. They can go for a CO regardless.
            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

            Comment

            • #7
              Re: Barclays Demanding Information.

              Originally posted by rizzle View Post
              From October 1st this year, on any new CCJ they do not have to wait for you to default on the CCJ payments. They can go for a CO regardless.
              I see...

              So can an application for a CO be challenged and does anyone have any experience of successfully challenging one?

              Comment

              • #8
                Re: Barclays Demanding Information.

                Think it can be challenged but isnt something there seems to be much joy about out there. Once they get a CCJ then apply for a CO then its pretty hard to stop from what I have seen. ( OH has one, feet didnt touch the ground once CCJ was awarded. Was a WTF rubbing eyes and thinking we had been legally mugged )

                Think the law change was just bringing what they did before out into the open. They no longer have to jump through hoops to make you look like you are failing on the CCJ requirements.

                Now get a CCJ and if they want they can apply and most likely get the CO. Doesnt matter if you have a repayment plan set up they agree to.

                Therefore if you dont want the CO avoid the CCJ

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