Halifax are driving me nuts!

dilemma10

Argh could somebody give me advice on Halifax please?
Basically I only graduated last year and run up a £500 overdraft.
I agreed about 2 months ago to start paying it off with a monthly payment of £150 and also, they agreed to uplift my o/d to £750 to cover waiting for my payment and for any charges. But this got out of hand and I spent the money on the o/d and did not pay the monthly fee.

The problem is that I was always within the o/d limit until they changed to this dodgy pay £1 a day for any o/d. As a result I then started owing £30 every month in o/d fees and as I went over the o/d limit it then turned to charges of £5 a day.

I have given them something like £500 in o/d charges just for the fact that I have struggled since leaving uni to get straight. They are now sending me notices for £900!

How do I get myself out of this mess? My o/d limit is £500 and it's a neverending spiral of charges...would they actually take back some of their charges if I explain my predicament and offered to give them half of the cash back? I cannot pay all £400 this month!

Argh....I really want to shut down all of my accounts with them as they are usless..

never-in-doubt

dilemma10 wrote: »

Argh could somebody give me advice on Halifax please?
Basically I only graduated last year and run up a £500 overdraft.
I agreed about 2 months ago to start paying it off with a monthly payment of £150 and also, they agreed to uplift my o/d to £750 to cover waiting for my payment and for any charges. But this got out of hand and I spent the money on the o/d and did not pay the monthly fee.

The problem is that I was always within the o/d limit until they changed to this dodgy pay £1 a day for any o/d. As a result I then started owing £30 every month in o/d fees and as I went over the o/d limit it then turned to charges of £5 a day.

I have given them something like £500 in o/d charges just for the fact that I have struggled since leaving uni to get straight. They are now sending me notices for £900!

How do I get myself out of this mess? My o/d limit is £500 and it's a neverending spiral of charges...would they actually take back some of their charges if I explain my predicament and offered to give them half of the cash back? I cannot pay all £400 this month!

Argh....I really want to shut down all of my accounts with them as they are usless..

Hiya

Ouch! That stings! It is HBOS you're talking about, remember they will utilise ROSO if you're in debt so make sure you do not have other accounts with them or they will dip into them to repay the arrears of the other debted account. :cool:

You can and should reclaim (after you've moved banks) - read this: http://www.moneysavingexpert.com/reclaim/bank-charges?dd

Best of Luck

woody01

Argh....I really want to shut down all of my accounts with them as they are usless

Although your predicament is not good, can you explain your comment?

From what you have put, they dug you out of a hole and you spent the money.
How exactly does that make the Halifax useless becuase you could not control your finances?

dilemma10

Yes, sorry. I guess I am just upset that I keep going round in circles with Halifax. It was always under control until the £1 charges were slapped on daily...and then I could not afford to pay the monthly charge..and then they raised my o/d even more but I hit a rocky patch and had to dip into that when it was just an o/d raised to help me cover the cost of that month's overdraft fees which were £140!

Although it is time for me to wake up with my finances, I do feel like the money has gone on absolutely nothing and am wondering if I can close the accounts down once and for all and set up some facility at my other bank (Lloyds) to help me pay it all off.

Trollfever

Be aware that Lloyds Banking Group owns Halifax.

This may help:

http://www.moneysavingexpert.com/banking/Budget-planning

dilemma10

Does anybody know how long it will be before they default me?
The only payment I missed was May 31st.

Regards
Dilemma

never-in-doubt

dilemma10 wrote: »

Does anybody know how long it will be before they default me?
The only payment I missed was May 31st.

Regards
Dilemma

They won't default you! They have to give you notice to bring upto date the account, it is a set process in line with s.87 & s.88 of CCA(1974).....

Why don't you contact them and request interest and charges is frozen and arrange to repay this at a set monthly amount?

dilemma10

never-in-doubt wrote: »

They won't default you! They have to give you notice to bring upto date the account, it is a set process in line with s.87 & s.88 of CCA(1974).....

Why don't you contact them and request interest and charges is frozen and arrange to repay this at a set monthly amount?

I received a letter from them on 21st June saying that they would send me a 'notice of default' as I am £400 over my agreed overdraft. I am really worried now that I will get a default notice on my credit file and they will start legal proceedings etc.

You say they need to give me a notice to bring up to date the account which is what the 21st June letter is doing and that after this I would get a default notice. However, is receiving a 'default notice' the same as defaulting? I.e does a default notice show up on a credit file?

I know HBOS are quite proactive in sending out these default notices as I have googled and found many others in same predicament.

Also, it was only last month that I actually called them up to set up paying back and have already missed the payment as I did not get paid what I thought from my last job which ended last month! So I am scared to set this up again...

Argh

never-in-doubt

dilemma10 wrote: »

I received a letter from them on 21st June saying that they would send me a 'notice of default' as I am £400 over my agreed overdraft. I am really worried now that I will get a default notice on my credit file and they will start legal proceedings etc.

You say they need to give me a notice to bring up to date the account which is what the 21st June letter is doing and that after this I would get a default notice. However, is receiving a 'default notice' the same as defaulting? I.e does a default notice show up on a credit file?

I know HBOS are quite proactive in sending out these default notices as I have googled and found many others in same predicament.

Also, it was only last month that I actually called them up to set up paying back and have already missed the payment as I did not get paid what I thought from my last job which ended last month! So I am scared to set this up again...

Argh

Hiya

Well if it is a Notice of Default served under s.87 CCA1974 then yes, that is the default notice - they will default you unless you clear the arrears within the timeframe given.

I know what you're saying about not being paid enough but unfortunately you need to make payments to this as a priority unless you don't mind getting defaulted - yes, any default will affect your credit file and ability to obtain ANY credit for 6 years.....

If I were you i'd be ringing them and stopping this action like yesterday - you need to give it your full attention or you will regret it, for such a silly amount - it lasts for a long time!

can you not borrow £500 from someone and pay them £100 per month back? Must be something you can do, even so, ring HBOS and speak to them and stop the default action!

dilemma10

never-in-doubt wrote: »

Hiya

Well if it is a Notice of Default served under s.87 CCA1974 then yes, that is the default notice - they will default you unless you clear the arrears within the timeframe given.

I know what you're saying about not being paid enough but unfortunately you need to make payments to this as a priority unless you don't mind getting defaulted - yes, any default will affect your credit file and ability to obtain ANY credit for 6 years.....

If I were you i'd be ringing them and stopping this action like yesterday - you need to give it your full attention or you will regret it, for such a silly amount - it lasts for a long time!

can you not borrow £500 from someone and pay them £100 per month back? Must be something you can do, even so, ring HBOS and speak to them and stop the default action!

Hi there thanks for your help. The 21st June letter is not a default notice, it is just a letter asking me to make the missed payment..or they 'may send you a notice of default'.

So I am just wondering whether a notice of default is AS bad as a default?

Otherwise, I get paid on Weds this week and would rather talk to them then otherwise I will be ringing up with no money to my name and scared! Just wondering whether it can wait 2 more days...? As I have not had a default notice...

never-in-doubt

dilemma10 wrote: »

Hi there thanks for your help. The 21st June letter is not a default notice, it is just a letter asking me to make the missed payment..or they 'may send you a notice of default'.

So I am just wondering whether a notice of default is AS bad as a default?

Otherwise, I get paid on Weds this week and would rather talk to them then otherwise I will be ringing up with no money to my name and scared! Just wondering whether it can wait 2 more days...? As I have not had a default notice...

Hiya

Yes it can wait - you were sent a notice of intended default which would give you 14 days to contact them (usually) so stop stressing and ring Wednesday, make a payment there and then and then stick to the agreement - make sure you ask them when you ring and before you pay "does this mean that no default will be registered against me with the Credit Agencies" - as they will be recording the call you need this verbally confirmed as proof.

They will not default you if you contact them to arrange settlement, that is not in their best interests at all so they won't do it. Just sort this sooner than later yea?