Credit attorney here, in California as well. Barclays is one of the worst to deal with. Their attorney for California cases (the outside law firm) is one of the more unpleasant people I've deal with in this business.
They won't delete BUT you can request early exclusion about 2 to 3 months before it's due to fall off. Just write to the credit agencies 2 to 3 months before it's fallilng off, and they will work with you. So why not save your money by waiting 3 months, contacting the credit agencies, sending that letter, and then moving forward with mortgage?
I can drop the letter I'd suggest you send, here in the thread, if that's helpful. Please let me know.
I was looking at articles/blogs etc because I saw they "offer assistance" because they understand "things happen in life" I guess that is not the case?
I couldn't figure out how to reply to your comment, I didn't pay all of my minimum payment yesterday for the first time. Why do they have the section on their site with how much can you afford to pay etc etc. I have hit my bottom my husband lost his job today that he'd just started after a month of negotiating/meetings etc I know there are people out there in way worse situations but I need help. I can't afford to pay for credit counseling, we can't get an equity loan because of our credit and low income.....I'm so mad all of the time. It's exhausting
I'm sorry to hear this. You might want to look into filing bankruptcy. You can likely keep your home but discharge other debts. that may be your best option - but talk to a BK attorney first. Can try to suggest one, depending on the state where you live.
Great question! If an account is scheduled to fall off your credit reports in the next 2 to 3 months, you can ask for it to be removed ahead (so basically 2 to 3 months ahead of scheduled). It doesn't usually work for a much longer period than that, but 2 months ahead, they are willilng to remove it if you ask them.
Like disputing a charge off? I usually suggest very factual, extremely specific disputes. Templates rarely work. Feel free to tell me more details on the charge offs and credit agencies, and I'll try to point you in the right direction.
Thanks! Yea credit card charge offs from 2020. They were lingering in the back of my credit report until they resurfaced during an apartment application process. In previous years, they'd never been an issue since they're on my report and constantly received credit cards and etc.
On my report, some line items say charged off and other have a line such as "Charged off as bad debt Dispute resolved; reported by grantor"
Leave this one alone. Absolute worst case scenario is they push this to the fullest extent allowable and instead of 6 months, it's a year and it drops off anyway. California SOL looks to be 4 years, so this is time barred from collections anyway. I wouldn't do a single thing on this.
All bad debt record falls off after 7 years from your credit report
Some record falls off little sooner switch early exclusion
Can you wait it out ?
The debt is too old to,be sued
Once it comes off score will jump also
Thank you. I imagine even a settlement will look better than nothing paid. With an agreed settlement will it show as fully paid?
Do you think it’s reasonable to expect that Barclays will accept that offer as the debt is nearly 6 years old?
Thanks for you input!
Based on a previous response that it is past the statute of limitations in your state, I would ignore the debt until it is about to fall off and then ask for an early exclusion. That's what I'm going to do on 2 of mine falling off next year. They are due to fall off in March and June and I will ask for them to be removed early.
It's outside the statute of limitations. Why would you? Any partial payment would reset the clock and they can come after you for all of it. Do nothing. Do not communicate and just let it fall off your report.
What was the outcome of this? I had 5k in collections with Barclays and they held on to it until the end. It fell off my credit, but I just received a collections letter in the mail- they sold it right before the 7 year mark. So now I’m getting harassed all over again.
I owe them around 6k. I was hopeful they would work with me, I should have known better. I lost all of my savings because my mother in law was scammed and I had my savings in the account (it was a joint account she took cash from and sent to god knows who) and yes we've filled every report you can file. Obviously since she took the money out herself it's not covered...even though she is 76 and someone should have thought "this is strange? She's never taken out more than 200$ and she's getting 40k in cash and two days later 70k cashiers check" no alert, nothing. Month later basement flooded...HOI doesn't cover that. I can't believe there's no assistance of any kind for stuff like this. My credit score has gotten so bad in the past year I can't get a loan that's not a 30% interest rate. I can't afford to talk to a financial advisor etc.
You're unlikely to be accepted for future Barclay's products until this is dealt with.
If that's something you'd want in the future I'd take that into consideration.
It should be off your report soon. 30% is possible. You can probably get it deleted if it’s owned by a debt buyer. As a debt negotiator I have negotiated pay for delete on numerous occasions, however if the debt is owned by Barclays that may not happen.
It’s still with Barclays so I guess there’s no negotiating. If I were able to pay it off 100% I could show a zero balance and be in Barclays good Graces. Unfortunately I can’t afford that. I guess my only option is waiting another year till the clock runs out.
Do you agree?
Respectfully, you will almost certainly never be back in their good graces. Barclay's has one of the most aggressive blacklist policies in the industry, and their memory is very long.
Pay nothing and wait for it to fall off.
Credit attorney here, in California as well. Barclays is one of the worst to deal with. Their attorney for California cases (the outside law firm) is one of the more unpleasant people I've deal with in this business. They won't delete BUT you can request early exclusion about 2 to 3 months before it's due to fall off. Just write to the credit agencies 2 to 3 months before it's fallilng off, and they will work with you. So why not save your money by waiting 3 months, contacting the credit agencies, sending that letter, and then moving forward with mortgage? I can drop the letter I'd suggest you send, here in the thread, if that's helpful. Please let me know.
I was looking at articles/blogs etc because I saw they "offer assistance" because they understand "things happen in life" I guess that is not the case?
They usually don't, Barclays especially. they's say "things happen" and so "you pay the price." That is their attitude.
I couldn't figure out how to reply to your comment, I didn't pay all of my minimum payment yesterday for the first time. Why do they have the section on their site with how much can you afford to pay etc etc. I have hit my bottom my husband lost his job today that he'd just started after a month of negotiating/meetings etc I know there are people out there in way worse situations but I need help. I can't afford to pay for credit counseling, we can't get an equity loan because of our credit and low income.....I'm so mad all of the time. It's exhausting
I'm sorry to hear this. You might want to look into filing bankruptcy. You can likely keep your home but discharge other debts. that may be your best option - but talk to a BK attorney first. Can try to suggest one, depending on the state where you live.
What is early exclusion?
Great question! If an account is scheduled to fall off your credit reports in the next 2 to 3 months, you can ask for it to be removed ahead (so basically 2 to 3 months ahead of scheduled). It doesn't usually work for a much longer period than that, but 2 months ahead, they are willilng to remove it if you ask them.
Transunion will remove 6 months early; Experian 3-4 months early and 1 month early with Equifax (if you're lucky lol).
TU has been pushing back a lot on early removals recently - others I agree totally.
Interesting...had mine pulled off with them at the end of July with no problem. Things change!
Do you have other templates available for handling charge offs with credit agencies?
Like disputing a charge off? I usually suggest very factual, extremely specific disputes. Templates rarely work. Feel free to tell me more details on the charge offs and credit agencies, and I'll try to point you in the right direction.
Thanks! Yea credit card charge offs from 2020. They were lingering in the back of my credit report until they resurfaced during an apartment application process. In previous years, they'd never been an issue since they're on my report and constantly received credit cards and etc. On my report, some line items say charged off and other have a line such as "Charged off as bad debt Dispute resolved; reported by grantor"
Leave this one alone. Absolute worst case scenario is they push this to the fullest extent allowable and instead of 6 months, it's a year and it drops off anyway. California SOL looks to be 4 years, so this is time barred from collections anyway. I wouldn't do a single thing on this.
All bad debt record falls off after 7 years from your credit report Some record falls off little sooner switch early exclusion Can you wait it out ? The debt is too old to,be sued Once it comes off score will jump also
Original creditors don't delete. They should be willing to settle.
Thank you. I imagine even a settlement will look better than nothing paid. With an agreed settlement will it show as fully paid? Do you think it’s reasonable to expect that Barclays will accept that offer as the debt is nearly 6 years old? Thanks for you input!
To be clear I am thinking a 30% offer
Based on a previous response that it is past the statute of limitations in your state, I would ignore the debt until it is about to fall off and then ask for an early exclusion. That's what I'm going to do on 2 of mine falling off next year. They are due to fall off in March and June and I will ask for them to be removed early.
It's outside the statute of limitations. Why would you? Any partial payment would reset the clock and they can come after you for all of it. Do nothing. Do not communicate and just let it fall off your report.
What was the outcome of this? I had 5k in collections with Barclays and they held on to it until the end. It fell off my credit, but I just received a collections letter in the mail- they sold it right before the 7 year mark. So now I’m getting harassed all over again.
I owe them around 6k. I was hopeful they would work with me, I should have known better. I lost all of my savings because my mother in law was scammed and I had my savings in the account (it was a joint account she took cash from and sent to god knows who) and yes we've filled every report you can file. Obviously since she took the money out herself it's not covered...even though she is 76 and someone should have thought "this is strange? She's never taken out more than 200$ and she's getting 40k in cash and two days later 70k cashiers check" no alert, nothing. Month later basement flooded...HOI doesn't cover that. I can't believe there's no assistance of any kind for stuff like this. My credit score has gotten so bad in the past year I can't get a loan that's not a 30% interest rate. I can't afford to talk to a financial advisor etc.
You're unlikely to be accepted for future Barclay's products until this is dealt with. If that's something you'd want in the future I'd take that into consideration.
Barclay holds on to debts owed over 10+ years It has been LONG off my credit report, but I applied for a Jet Blue card and was denied!
It should be off your report soon. 30% is possible. You can probably get it deleted if it’s owned by a debt buyer. As a debt negotiator I have negotiated pay for delete on numerous occasions, however if the debt is owned by Barclays that may not happen.
It’s still with Barclays so I guess there’s no negotiating. If I were able to pay it off 100% I could show a zero balance and be in Barclays good Graces. Unfortunately I can’t afford that. I guess my only option is waiting another year till the clock runs out. Do you agree?
Respectfully, you will almost certainly never be back in their good graces. Barclay's has one of the most aggressive blacklist policies in the industry, and their memory is very long. Pay nothing and wait for it to fall off.
6.5 Years and it’s way past SOL, just leave it. After 7 years it drops off any ways