Halifax - debt management plans

qwerty101 · 16 February 2010 at 6:13PM

I've been on a DMP with a halifax credit card for nearly 12 mnths now - it's working great! No interest and I'm paying what I can afford - around 1%......Does anyone know if the Halifax will let me contine on this DMP if my circumstances have not changed? or will they only offer me 12 mnths of help, then start charging me again?? Anyone know for sure?

Tixy · 16 February 2010 at 6:26PM

Are you doing a self-managed DMP, one with a 3rd party organisation or do you just mean its your halifax card that you pay less on?

If your situation has not changed they may allow you to carry on like this or they may decide to sell your debt on to a DCA. I don't think anyone can say for sure as they are not consistent in their approach.

Roughly how much do you owe on the halifax card?

qwerty101 · 16 February 2010 at 6:42PM

We owe £13,550, it's a debt management plan through us (although the cccs gave us the income and expenditure form to send to them) we pay £152 per month and have been for just under 12 mnths. whats a DCA ? and if they do sell it on is it worth me offering a full & final settlement to them - halifax just not interested?

Tixy · 16 February 2010 at 6:55PM

DCA - debt collecting agency.

DCAs are more likely to accept F&Fs than the original creditor but it would need to be an external DCA not their in house guys (blair oliver scott). Usually the best deals are once the DCA have held the account for maybe 6months and have seen you can't be bullied into increasing your monthly payments.

Have halifax defaulted you yet?

qwerty101 · 16 February 2010 at 7:01PM

Not defaulted yet. we started the DMP just before we fell into arrears, so we're UTD. So do you think that the halifax will continue to accept the arrangement over the 12 mnths? or do you think they only offer 12 mnths of assistance?

Scottishmummy · 17 February 2010 at 3:18AM

We are on a DMP with CCCS and HBOS ask for an updated expenditure sheet every six months then continue the reduced payments. We were late getting an expenditure to them once and they started charging again but once they eventually received it the charges stopped again. We did have four accounts with them and all but one have now been passed on to a DCA - first Blair Oliver and now an external one.