Halifax paid off my credit card...

john1001

Hi, bit baffled and hoping someone can help.
I got a letter from Halifax today saying they've cleared the balance of my Flexcard.
Thought it might be a sophisticated scam but logged in and sure enough its at zero.
The letter gives no reason for why they've done this, but says I won't need to make any more repayments and that the CRAs will be told the debt (£1250 or so) has been paid.
I wondered if they suspected money laundering or something but it seems a strange course of action to take? And although I don't pay much over the minimum, they've not been in touch re persistent debt. 

I'll need to ring them obviously when the number they gave reopens on Monday, but has anyone seen this before? Am I just lucky?! 

Thanks

[Deleted User]

I was £900 in debt on a Halifax Classic Card back in 2014 and I had arranged a payment plan to pay back. Then one day they wrote it off out of the blue and marked my credit files as partially satisfied. It has just recently dropped off all my credit files as the default was over 6 years ago.

john1001

Thanks for your reply Lee. 
Sounds similar, although I've never missed a payment so if they put something negative on my credit file I wouldn't be happy!

Did they ever explain the decision to you? 

[Deleted User]

john1001 said:

Thanks for your reply Lee. 
Sounds similar, although I've never missed a payment so if they put something negative on my credit file I wouldn't be happy!

Did they ever explain the decision to you? 

I can't recall them writing to me to explain it but I do remember missing a few payments on the payment plan and then noticing it had been marked as partially satisfied with a balance of zero one day on my credit report. After that still not heard anything 6 years later.

sourcrates

john1001 said:

Hi, bit baffled and hoping someone can help.
I got a letter from Halifax today saying they've cleared the balance of my Flexcard.
I'll need to ring them obviously when the number they gave reopens on Monday, but has anyone seen this before? Am I just lucky?! 

Thanks

Banks conduct audits of there lending activity from time to time, to see whats performing well, and what isn`t.
I suspect you will have been subject to such an audit, and for whatever reason, the bank has decided it no longer wishes to do business with you, now this could be for a variety of reasons, and to go any further down that road would be pure speculation on my part.

I have seen this happen before, funnily enough with the same bank, Halifax decided to write off a loan, that had been left unpaid for quite a while, they made a commercial decision to write the debt off as the chances of collecting the account were quite low.

You can try asking for an explanation but my suspicions tell me all you will get out of them is that it was a "commercial decision" on their part, and that will be it.

Still good for you though.

john1001

sourcrates said: 

You can try asking for an explanation but my suspicions tell me all you will get out of them is that it was a "commercial decision" on their part, and that will be it

If it is just a commercial decision, its the kind of commercial decision I can get behind!
Thanks