Help with a very old unsecured Halifax loan!

Tellsibubs

Hi everyone,
I took out a rather large loan when I was a lot younger possibly 21 (I know, lesson learnt!). I was a nightmare with my finances and with keeping paper work as some are when theyre young. Anyway, I had this £10-12,000 loan and thought I would pay it back over just a couple of years (possibly 3) as at the time I could afford it. So I paid £450 per month for about 3/4 of the loan and then due to a change in circumstances could no longer afford that amount. I spoke with Halifax to ask whether I could effectively stretch whatever was left over a longer period of time due to a change in my financial circumstances. I believe this was in 2006. Ok, no problem, next thing I know ive been set up on a new personal loan agreement. I was young at the time and as it was all I could afford so I just let it go and carried on paying. Payments now down to £148 per month. Now some years later, I got bogged down with a few other little bits and bobs. Nothing major but store cards, small overdraft, another small flexi loan and I just got to breaking point so I appointed Payplan in 2009. Ive been paying it off ever since. Now I got a small bonus from work and after checking the payplan website thought this would cover my outstanding debt.

Sadly after talking with them it appears they may have under estimated my figures and i still owe £3500 on this Halifax loan. Im now heartbroken as I just want this debt gone. Its been a massive burden for the last 10years almost and im edging very close to 30 and I dont want to go in to my 30's in debt and with nothing to show for 14years of hard work apart from a car which is worth almost nothing!

Ive now tried to speak with halifax about my account but they said they dont hold my record and the ref I gave no longer shows on their system. So they gave me Blair, Oliver and Scott and he then referred me on to Moorcroft. They could all give me the lump some historical figures. I.e. how much debt Halifax passed to them and then how much I paid to them total and then same for Moorcroft but what I want is the information from Halifax as to when I first took out the Loan and what was agreed. Then a schedule of payments made, what was agreed when I took out this new personal loan to replace the other I could no longer afford and so on..

Am I within my right to ask for this info and are they obliged to still have it all on record?! Any help would be very, very much appreciated. Debt has ruled my life for too long and its not huge amounts but I want rid of it. Ive not had any loans, credit cards, overdrafts or anything since and I couldnt be more against them!

Thanks for taking the time to read anyway.
B

~Beanie~

I doubt you will get anything from Halifax from when you first took out the loan and what was agreed, they are only obliged to keep records for 6 years. Do you not have a copy of the original agreement?

happy_bunny_2

I would:
1. check your credit report to see what's on their for the 2 loans, old one probably gone by now, unless defaulted late.

2. Send whoever owns the debt (Moorcroft?) a CCA request. They should send you a copy of the agreement you signed, detailing amount borrowed, interest rates etc. Cost=£1. They should also include a current statement of account with balance, payments, charges.

3. Send Halifax an SAR to find out what info they have. Maybe the person you talked to doesn't have access to old accounts.

Who you currently paying for this, or are you not since 2009?

What might have happened, is say you had 5k left on the original loan, then you took out a new loan for the 5k with lower repayments. At that point, they are likely to have front loaded the interest for the loan period, which is likely to be several thousand, dependent on interest rate, thus leaving more than you thought still to pay.