Voluntary Termination - Barclays Partner Finance

[Chris2176]

I exercised my right to voluntary terminate my agreement with Barclays Partner finance and the vehicle was placed back in there possession on 30/01/21

Within there letter stating I could return my vehicle, it did say a balance of £6762.55 was still due - when speaking to Barclays partner finance on the phone they advised that this would get passed over to a debt collection agency and I could arrange a re-payment plan with them direct.

An agreement has now been reached and I am paying every month to reduce the balance.

I have recently gone on my credit file and its now stating numerous missed payments, having a really negative impact on my credit file.

When speaking to Barclays prior to me agreeing I would my vehicle back, I was advised that handing the vehicle back would not have an negative impact on my credit file.

I'm now facing a situation of having my credit file destroyed due to me not paying the £6762.55 in full - If Barclays had stated this I would of continued to pay my monthly payment of £525

Has anyone else ever been in this situation or any advise on this please?


thanks

Chris

[ostell]

Did you voluntary terminate or voluntary surrender?

Had you paid 50 % ?

[Chris2176]

I Voluntary terminated - and no the £6762.55 gets me to the 50% point - if they had explained that terminating before the 50% point would have detrimental effects, I would of continued to pay.

The only reason I handed the car back was because the company I work for wanted me to have an all electric company car.

thanks