WARNING! HBOS - Non-Freezing of Interest

Fairycake_2

Just had an interesting (and angry) call with a representative of the AA Credit Card and I'm still shaking. He was phoning as he was having trouble putting into words their policy.... :mad:

I've been on a DMP for 24 months but last November HBOS decided that they would only freeze interest for 12 months. To cut a (very) long story short I have been charged interest each month since then and also a £12 late payment fee. My letters were ignored until a few months ago when I got the FOS involved. Finally two weeks ago, as a gesture of goodwill, HBOS agreed to the late charges and 6 months of interest. While happy with this I still had a lot of unaswered questions so I wrote back basically tearing his contradictory letter to shreds.

Well, I've just got off the phone and after being told (like always in their letters) that their policy is for any debt 7 months in arrears is passed onto a DCA so when I mentioned that this didn't add up as my first arrears letter was in November 2007, I have just been given the bombshell that their system doesn't recognise arrears until at LEAST the THIRD month and basically that I will be paying interest for a year and a half before it is passed over!!!

I told him that I didn't care how much he was struggling to put this policy into words, I wanted a letter detailing this information and that I was sending it straight to the FOS as it was totally unfair.

I am almost in tears here. I want to pay off my debt and decided against as IVA and all I am getting from these people is crap.

Anyway, just wanted to let you all know.

RAS

Hi

Take a deep breath.

remember, you can you can reclaim any more charges.
And please do not do an IVA unless it is recommended by a debt charity, the fees make the situation with AA look like pocket money.

Fairycake_2

Thanks RAS.

I just get so frustrated with them. I've never wanted to do an IVA, but these people just don't seem to understand that I had the option to write off half the debt and turned it down!

Problem is I'm like a dog with a bone if I feel that I am being unfairly treated and I think they expect people just to give into them and not put up a fight!

Fairycake_2

After my last letter and telephone conversation I got my statement and it states that there is NO interest applied this month and estimated interest for next month is ZERO!!!

:beer: :beer: :beer: :beer:

I haven't wanted to jinx this so no more letters to the AA until they change it again (gosh I'm so untrusting aren't I?!).

Hopefully this will be the end of it.... good luck to everyone else who is trying to change this - keep plugging away, you'll get there in the end!

TotallyBrassic

Nice one!
well done
xx