Naive banking?

1stepforward.2stepsback

A few months ago, I realised I wasn't meeting the minimum payments on my Halifax credit card, or was just skimming by. I spoke to the Halifax and asked if I could pay a set amount per
month, to get back in my feet. They agreed, and I did - on time, every month. On Christmas eve I received a phonecall saying I was in arrears etc. After some discussion, it turns out that despite
me making these planned payments, they are taking 50% of that payment back as charges. I spoke to one of their staff recently who agreed the initial
advice given to me was vague and incorrect, but there is nothing they can do. Am I just being naive and a bit stupid? I trusted them to help, and was trying to act as a responsible customer, but should I have done more?

Robert_Sterling

It looks as if the set amount you paid was not high enough.

1stepforward.2stepsback

I agree Robert - and I would have paid a bit more had I known. I stupidly thought they were freeze interest or stop charges, as that wasthe impression I got when setting it up. I don't know what to do - and my credit file is being damaged all the time.

ElkyElky

I suggest if you can, pay a lump sum towards card immediately to bring it up to date.

Consider setting up a direct debt to take the minimum payment each month, so it saves you the bother.

bazster

1stepforward.2stepsback wrote: »

I agree Robert - and I would have paid a bit more had I known. I stupidly thought they were freeze interest or stop charges, as that wasthe impression I got when setting it up. I don't know what to do - and my credit file is being damaged all the time.

Given that they admitted you were given poor advice, you could try the Ombudsman. Not sure if the Ombudsman has the power to listen to the bank's 'phone conversation recordings, I guess you could ask. But you'll need to go through a written exchange with the bank first.

1stepforward.2stepsback

Thanks for your advice guys - really helpful. I did mention to the Halifax I was considering asking the ombudsman RE vague and woolly advice, but they said they wouldn't do much.

chattychappy

1stepforward.2stepsback wrote: »

I don't know what to do - and my credit file is being damaged all the time.

Not trying to be clever, but you must check statements. You said you spoke to them "a few months ago" when you made the agreement with them. Then you got a call Christmas Eve and it seems like that was when you realised there was still a problem.

I think you need to look at the statements and work out whether you can keep up with the repayments. If you can then do so. I don't think you can ever just agree something and then assume it works. Both sides can make mistakes or misunderstand. You can setup DDs or standing orders if you like, but you still need to keep on top of things.

I would call them and see if you can negotiate away some of the charges on the basis that they got the sums wrong when talking to you originally.

If you're in trouble keeping up with the payments then look at http://www.moneysavingexpert.com/loans/debt-help-plan . There's also another forum on this site for people struggling, no doubt someone else will post a link.

bazster

1stepforward.2stepsback wrote: »

Thanks for your advice guys - really helpful. I did mention to the Halifax I was considering asking the ombudsman RE vague and woolly advice, but they said they wouldn't do much.

Well they would say that wouldn't they!