Managing your finances can be tricky at times. With so much going on in our day-to-day lives, it can be hard to keep track of everything that’s going on. And when you have to tighten the belt buckle financially, the essentials have to take precedence. Sometimes this can lead to unpaid debts or overdue payments, and it is moments like this when you’re likely to receive a letter from a company like Barclays Debt Collection. 

If you have received a letter from Barclays Debt Collection, and you aren’t sure what to do, read on to find out all the information you might need.

It’s not your fault. Complaints to the Financial Ombudsman have risen this year from 830 to 2,006, so it’s safe to say that you’re not alone.

Deal with your debt today and feel better tomorrow.

Barclays Debt Collection

Barclays bank is one of the biggest banks in the UK. They have origins stretching as far back as 1690, and they now offer their variety of services to over 24 million customers in the UK. Barclays Debt Collection is their dedicated debt collection service, focussed primarily on recouping payments that might have slipped under the radar.

Don’t worry, here’s what to do

You could get rid of debt collectors by writing off your debt. I’ve put together a 4 question debt calculator which will tell you if you’re eligible:

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This 4 question debt calculator will tell you if you’re eligible.

What is the total amount of your debt?

Why are they getting in touch?

You may be wondering why Barclays Debt Collection is getting in touch with you. The main reason they will be sending you letters is because you are not up to date with your payments. 

There is also a possibility of Barclays purchasing ‘bad’ debts. These are debts that the original creditor no longer has the resources to pursue, which Barclays then purchase outright. 

You would then owe Barclays Debt Collection the full amount, rather than the original creditor. Barclays can also add on some of their own fees as well in these instances.

Are they a real company?

You should be suspicious of any company that sends a letter asking you for an amount of money you may not even realise you owed. We all suffer from spam emails and letters, so it’s good practice to double-check the details.

There are plenty of people out there who are out to scam the vulnerable with fake debts, and they often use well-known company names to seem legitimate. In the case of Barclays Debt Collection, they are legitimate. 

Barclays Bank PLC is authorised and regulated by the Prudential Regulation Authority, as well as the Financial Conduct Authority. They also adhere to The Standards of Lending Practice, as set out by the Lending Standards Board. Barclays also has a Companies House page, with the company number of 01026167 and a registered office address of 1 Churchill Place, London, E14 5HP. So you should take their correspondence seriously.

Find your best debt solution

debt solution

Is all this information starting to feel overwhelming? Don’t panic! I’ve put together a 4 question debt calculator so you can quickly and easily find the best solution for you. Answer the four questions now.

What to do next

So that’s some basic information about Barclays Debt Collection. Here, we give you a quick guide into what to do next. With plenty of preparation, you can deal with them quickly and easily, so make sure you’re active and organised.

Don’t ignore them

You may think that ignoring them will make them go away. Debt collection agencies are notoriously persistent, and ignoring them will not get rid of them. They will continue to bombard you with letters and calls, and may even escalate matters to a bailiff. So to save yourself further hassle in the long-run, it’s best to deal with the issue head-on.

Gathering information

Once you have received the letter from Barclays Debt Collection, you should go through your own correspondence to compare the amounts. Not only will this be proof that you do owe Barclays money, but if they have made an error on one of the amounts, you may not have to pay it.

Prove the Debt

If you’re still uncertain about the amount stated by Barclays Debt Collection, you can ask them to prove the debt. The best way of doing this is by sending them a ‘Prove the Debt’ letter. They have to respond to this in writing, with proof of the debt you owe.

You can find some samples and templates in our article on prove the debt letters.

The right to set off

One piece of information you should be aware of is something called ‘the right to set off’. If you have debts with the same bank that you have a current account or savings account with, Barclays will be able to settle with Barclays Debt Collection by taking the available funds from one of your accounts to clear the amount you owe in the other one. 

So you may have your salary paid into a Barclays current account, but you owe money on your Barclaycard. Barclays will be able to take money from your current account balance to make the payment on your credit card account.

Statute-barred debts

Sometimes debts become what’s known as statute-barred. If a creditor takes too long to take action on a debt, it can no longer be recovered through court action. The limitation period, or length of time before a debt becomes statute-barred, is usually six years, depending on the debt.

FAQs

That’s a quick guide to how to deal with Barclays Debt Collection. The best thing to do is to be active and get in touch with them as soon as you can. Below, we go through some of the more frequently asked questions about debt and debt collectors in general.

Should I pay Barclays Debt Collection?

Yes. If you are certain that the debt is yours, and you have the available funds to pay them, you should do so as soon as you can. This will stop Barclays Debt Collection from continuing to hassle you with letters and phone calls. 

What happens if I can’t pay?

If you aren’t financially capable of settling the debt with Barclays Debt Collection, you should get in touch with them straight away. They may agree to a monthly repayment scheme, where you pay back the debt in instalments.  If you are still struggling financially, there are several services and charities available to help you. These include:

Can I make a complaint?

If you believe that Barclays Debt Collection has behaved in an inappropriate manner that doesn’t seem to keep in line with the Financial Conduct Authority, you should make a complaint about them. Start off this process by contacting them directly, and if they fail to respond, you should escalate the matter to the Financial Ombudsman Service.

About the author

Scott Nelson

Scott Nelson is a financial services expert, with over 10 years’ experience in the industry, including 6 years in FCA regulated companies. Read more
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