Barclays interest rate protection hedge scheme

[a retailer]

I am about to make an official complaint to Barclays about being sold a restructure hedge collar. On the proposal form it states cancellable interest rate swap. When we ask about cancelling because it is costing us over £5,500 per month for nothing we are told that there is a breakage cost of £200,000 but Barclays can cancel at any time for free. None of this was made aware to me and i feel i have been wrongly sold this product. If there is anyone out there who can help or knows of similar cases please get in touch.

[oldbirtle]

Re: Barclays interest rate protection hedge scheme

Hello
I am in the same position and in fact long before this was costing me £13000 per quarter i tried to have it removed.
Have you commenced your claim
Ihave been quoted £4000 b y a solicitor to take this on which is money Ican ill afford.
old birtle

[a retailer]

Re: Barclays interest rate protection hedge scheme

Hello
I am in the same position and in fact long before this was costing me £13000 per quarter i tried to have it removed.
Have you commenced your claim
Ihave been quoted £4000 b y a solicitor to take this on which is money Ican ill afford.
old birtle

i have made an official complaint and am waiting for Barclays response i am also applying for a subject aspect request as i believe Barclays are holding back info that they should declare to me which proves that the policy has been wrongly sold to me

[j1963]

Re: Barclays interest rate protection hedge scheme

I am in a similar position with RBS. I have sought legal advice and will keep you informed of the outcome.

Good luck

[cocomo]

Re: Barclays interest rate protection hedge scheme

high everyone i think i have the same issue is yours called a structured coller hedge

if so i might have some news for you

[Helly]

Re: Barclays interest rate protection hedge scheme

Hello Cocomo,

I have just read the posts relating to Barclay's & RBS Structured Collard Hedge product mis-sold. I am in the same position, where fundamental mistakes were made by Barclay's when they sold me the product early 2008, which has cost me (my small business), £120,000 as at today. I have complained and needless to say Barclays Capital have defended themselves and pushed me away. I have now gone to the FOS. I believe there are thousands of us small business's out there in the same situation without the right help. Do you have any ideas or suggestions?

Many thanks,
Helly