Halifax still charging interest

Jagsman411

I was called by the Halifax collections lot on Friday, telling me that I was behind with my payments, and that I had to pay the difference right away. I told the guy that I was using a DMP with the CCCS, and that I had been for the last 14 months. He verified this, but then said that the agreement had lapsed and I would have to get the CCCS to arrange another agreement. I then asked him why I was being contacted about this, as all business was supposed to be done through the CCCS. He told me it was because my debt had now gone over my limit. I asked him what he meant by this, and he explained that the agreement the Halifax had given me was NOT to freeze interest and penalty payments, but it was to reduce the interest to 1% of the total debt. Well the total debt was £7000, so they were charging me £70 a month in interest, plus another £24 a month in fees, and I was only able to pay £93 a month back to them. When I quizzed the guy about this, he said that the Halifax would only stop all interest and fees, if I was unable to pay anything at all, and that I would have to stick to what I was paying for another 3 months, when they would then pass my account over to another company to collect the payments, and only then would the interest and fees stop. So for 18 months, my debt to the Halifax will not have dropped by nearly £1700, it will actually increase by around £200. I had asked about these bills a couple of months after I started my DMP, but was told by someone at the Halifax to ignore them, because they were computer generated, and would always get them.

I know now that I should have been right on top of all of this, when my DMP started, but I seem to have bundled the Halifax in with Virgin and Tesco, because both of these banks stopped all the fees and interest from the beginning. Is there any possibility that I could get the Halifax to waive all the interest and fees since the start of my DMP, or will I have to just put it all down to experience?

pure_dead_dopey

COMPLAIN
firstly to the halifax in writing

if you don't get satisfaction then the FOS, it's what they are supposed to be there for

chanz4

Anything in writting to say they are freezing the intrest? If not the fos wont be able to say freeze the intrest, only official IVA / Administration orders stop them

nottoolate

pure_dead_dopey wrote: »

COMPLAIN
firstly to the halifax in writing

if you don't get satisfaction then the FOS, it's what they are supposed to be there for

too right. :beer: :j

http://forums.moneysavingexpert.com/showpost.php?p=51380721&postcount=2

pure_dead_dopey wrote: »

Complain to the FOS
we did, about Amex
got all interest and charges refunded and the paid 25 quid compo!!

pure_dead_dopey

chanz4 wrote: »

Anything in writting to say they are freezing the intrest? If not the fos wont be able to say freeze the intrest, only official IVA / Administration orders stop them

utter absolute bunkum

Hanky_Panky

pure_dead_dopey wrote: »

utter absolute bunkum

Seems to be the only sensible reply in this thread.

Without a letter from the lender confirming the interest/charges will be stopped the OP is on a hiding to nothing.

OP - I would still write to them however and appeal to their better nature to see if they can do anything for you - definately worth a shot even if we don't hold out much hope. May at the very least stop interest and charges from this point on.

nottoolate

pure_dead_dopey wrote: »

utter absolute bunkum

pure_dead_dopey wrote: »

Complain to the FOS
we did, about Amex
got all interest and charges refunded and the paid 25 quid compo!!

glad the fos helped you get your refund.

another recent example here

https://forums.moneysavingexpert.com/discussion/3881553

£1500 of interest and charges refunded by lloyds :j

Jagsman411

Drafted a letter last night and posted it this morning. While drafting the letter, I had a look at The Lending Code, which these banks are supposed to adhere to ( after all it was them who came up with it ), and it states very clearly that any interest and charges that are added to an account, should not make the repayment period become excessive. I suppose each bank would have different ideas on what "excessive" really is, but I now know that the Halifax would seem to think that having a repayment period of 77 years for a £7000 debt, is not their idea of excessive.

Oh well, I'll wait for their reply, and see what's next.

Thanks for the replies everyone.