Halifax withdrawing o/d - I'm in such a mess

tomterm8

HOPE1234 wrote: »

With regard to the o/d ,should I wait until they withdraw the facility on 15th March, or should I contact them before to try for another extension ?

You should contact them as soon as possible. Do it by telephone, and be willing to take a while about it (i.e. if you don't get the answer you need, leep on calling until you do).

If all else fails



Dear XXXXX

FORMAL COMPLAINT UNDER THE CONSUMER CREDIT ACT 2006 COMPLAINTS PROCEDURE

On XXX I was notified that you are going to reduce my overdraft from £X to £y. As a loyal customer since DATE, I want to inform you that this decision seriously affects my financial health.

I have been endevoring to reduce my debt, and have produced a budget (included) which shows that I am reducing my indebtedness by approximatly £xxx per month. This was to ensure I meet all my financial commitments.

Under the Banking code, you are obliged to deal sympathetically with my difficulties. On DATE, I called you to ask you to reconsider your decision. You refused. I am unable to repay the overdraft immediatly, and believe your decision to demand repayment will lead to a significant deteriation in my ability to repay these and other debts due to charges.

I am aware that as part of the government bailout, your bank agreed to continue lending at 2007 levels. Further, you are required under the Consumer Credit Act 2006 (The unfair relationship clauses) to act fairly in dealing with debtors.

Please reconsider your decision to withdraw the overdraft, which was given without sufficient warning for me to put my finances in order.

Please send me a copy of your complaints procedure, and details of who will be handling this complaint.

Yours Sincerly,

XXXX

Make sure you send it registered post.

boredofbeingathome

Cracking letter tomterm8

caramia1812

Best of luck with HBOS complaints dept. In the last six weeks, I have had no less than four letters (each from different people in that department) and it is blatanty obvious that each correspondent does not look at the previous letters sent nor the responses thereto.

I don't know what is going on with that bank and I am telling my family and friend to avoid it like the plague.

At the end of 2007 when I had informed them I had a problem with my cc's and was making token payments, they actually sent me out credit card cheques to use and that is not the best part.....about a month after I received the cc cheques (which I tore up) I had a letter from them to inform me that they were increasing the interest rate on credit card cheques. All this happened in the run up to Christmas - wonder why they did that? No prizes for guessing correctly.

HOPE1234

Ok ,a bit of an update.

Just phoned Halifax and explained I was worrying about my o/d being withdrawn in March and they confirmed my worst fears, it looks like it will def be called in :eek: .

I asked to speak to head office and was put through to a really helpful lady who advised that I couldn't do any thing until the o/d was withdrawn.

She said once the o/d dropped off the account,and if I was in say ,the worst case scenario 900 o/d, then all that would happen would be the collections dept would come to an agreement for me to pay back the o/d at about 100 pm.

They would just reduce the o/d by 100 pm and as long as I kept to the agreement then I wouldn't be charged and it wouldn't effect my credit rating.

I said that it was a shame that I had to wait until I was actually in unauthorised o/d before I could get any kind of agreement in place which she agreed .


I'm just wondering what the best to work this will be. My account will actually be in a pretty good shape on the 15th march as I will have just been paid. It's usually the end of the month when I need the o/d,so at the point when the o/d is withdrawn I will actually be in credit.

So im thinking I should withdraw my full wage as soon as it gets paid in so my o/d pays my mortgage and direct debits etc and that way I can use the money that I have withdrawn as my buffer zone !

Does that make sense ?
I think I can make this work .I will be able to pay my o/d back in a managed time frame and not be destitute.

My kids will be happy as I told them I couldn't afford to give them dinner money this week . I can now :T

LilacPixie

That makes sense. Please open a basic account elsewhere and arange for transfers of wages and bills ASAP.

TMoose

I was also in the same situation at the end on Jan. I had a £5,000 overdraft that I was living to the limit (yes, yes, I know!) which was due for renewal on 1st Feb. Due to the fact that they no longer felt I was worthy of this (I've no idea why - if anything my situation has improved since last year...) they cut this to zero. I spoke to the branch, who told me to speak to the collections dept, who said there was nothing they could do until I was in arrears and to speak to the branch, who pointed me at underwriting, who told me I couldn't have an overdraft...

They were utterly unhelpful. However, I do have a darling OH who very generously got a cash advance on her CC (at a very exhorbitant rate) and paid down my OD. The look on the HBOS persons face when I wandered in to cancel my OD before 1st Feb was a picture!

Fortunately I am getting a 4K bonus at work this month, so can pay off most of the card, and will pay down the rest by May. HBOS however were very little help, and I will be seriously considering moving my banking once I'm completely out of the red...

HOPE1234

LilacPixie wrote: »

That makes sense. Please open a basic account elsewhere and arange for transfers of wages and bills ASAP.

Will i still need to open a basic account if i've got an arrangement in place ?

Surely they can't take all my wages once the arrangement to pay is in place.
Can they ?

LilacPixie

yes the can hope and personally i don't trust the weasilly little cretins to stick to that arrangment.

HOPE1234

OMG !:eek:

I need to wise up and quick by the looks of it.

Could I pay it into my 16 yr old daughters current account ?

That way I would have access to a debit card.
She has offered me use of her account as she doesn't use it.

LilacPixie

i don'tthink so. you can open an account online.