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Found 339 results

  1. Hi All, I have had a Halifax account for a long time. but it has a massive overdraft (8,700) It was our own fault and very stupid, we were really struggling with money at the time _ it was a few years back -can't even remember how long, but we had a small overdraft we went on line to increase it a bit to cover us for that month, it was so easy, we went back in and did it again till it finally declined at the above amount, but I'm sure we managed to increase it by about 4,000 in one day! things were ok and we were being charged about £100 each month in fees for always being in the overdraft. but in april (I think ) the fees changed to £12.42 per day for us which is about £372 per month!. There's no way I can afford that!. I have a basic current account with the Halifax which I've been using as my main account for some time, but no income is paid into the overdraft account at all now. it's already being recorded on my credit file as two months in arrears and the balance is now about £9100. I want to pay them back but at £372 just for the fees it would be impossible. but I also don't want another default, as my credit record will be clean in 2 years and we're selling up to rent and clean up our credit records so a new default for another 6 years won't be good! Is there anything I can do to avoid this? and make an offer to them to pay what's owed?
  2. Name of the Claimant Hoist Finance UK Holdings 2 LI Date of issue 30 NOV 2018 Particulars of Claim 1.This claim is for the sum of £1678.00 in respect of monies owing pursuant to an overdraft facility under bank account no XXXXXX The debt was legally assigned by Hoist Portfolio Holding 2 Ltd (EX SANTANDER UK PLC) to the Claimant and notice has been served. 2.The Defendant has failed to repay overdrawn sums owing under the terms and conditions of the bank account. 3.The Claimant claims 1. The sum of £1678.00 2. Costs Have you received prior notice of a claim being issued pursuant to paragraph 3 of the PAPDC (Pre Action Protocol) ?I don't believe so What is the total value of the claim?£1863.00 Is the claim for - a Bank Account (Overdraft) or credit card or loan or catalogue or mobile phone account? Bank Account Overdraft When did you enter into the original agreement before or after April 2007 ?I think it was after 2007 Is the debt showing on your credit reference files (Experian/Equifax /Etc...) ?No Has the claim been issued by the original creditor or was the account assigned and it is the Debt purchaser who has issued the claim. Debt Purchaser Were you aware the account had been assigned – did you receive a Notice of Assignment? I don't remember receiving one Did you receive a Default Notice from the original creditor? I don't remember Have you been receiving statutory notices headed “Notice of Default sums” – at least once a year ? Not that I can recall Why did you cease payments?couldn't afford payments due to low income What was the date of your last payment?Don't remember, nothing for at least 5-6 years Was there a dispute with the original creditor that remains unresolved? I don't believe so Did you communicate any financial problems to the original creditor and make any attempt to enter into a debt management plan?I'm sure I would have mentioned financial struggles and tried to but can't say this for a fact. ……….. Hello everyone, have just received a claim form from Hoist Finance regarding an old overdraft debt with Santander. If memory serves me well this debt is at least 8 years old, maybe more. This has come at a horrible time as I'm currently being assessed by my GP for suffering with depression and anxiety. I'm a University student and have already had some of my modules postponed for this. Not sure if any of that matters but figured I'd inform you guys of the full story. Haven't worked in a year but I'm on a zero hour contract and I'm still technically employed with the company (Could get work in the next two weeks if I ask for the hours). would love some help battling this, thank you.
  3. A couple of years back i was in a mess financially. countless pay day loans etc, there got to a stage where even the pay day loans wouldnt lend to me as i assume my credit score was too bad. Now i hadnt been able to get an overdraft or anything for years, natwest suddenly offered out of the blue a 2500 pound overdraft, i obviously took it and then managed to top it up up to about 3700 over about a year. I was on the edge of my overdraft each month and i was paying around 150-200 pounds each month to keep myself below the overdraft limit each time i got paid. in the end i assume they had had enough and told me they were taking away the overdraft and i had to pay them immediately. i obviously couldnt afford to do that. I thought i'd chance my arm at an irresponsible lending claim but they flat out refused. Is it worth taking to the financial ombudsman do we think? thanks for your help
  4. I am looking for advice on gaining the removal of a default notice recently applied by HSBC. I'm new to this site and therefore have not previously followed any advice provided by this site. I'm requesting the default be removed from my credit reports as I believe I have been unfairly treated and this default has not been applied correctly. I believe HSBC has treated me unfairly as they refused to offer and agree a payment plan that their Final Demand letter offered, their communications, and application of process have contained many inaccuracies that have meant resolving the situation was confusing and difficult, and the detail of the registered default are inaccurate. I have already raised this with the financial ombudsman and they have upheld the decision by HSBC to refuse to remove the default (verbally stating I'd taken HSBC's correspondence 'too literally'). My next step is to challenge this decision by the Financial Ombudsman but I only have until the 13th August 2015. I’d be very grateful for any advice on how to approach this and what else, if anything, I should be doing. The background I opened an account with HSBC in 1992. I stopped using this account when I changed jobs a few years ago and opened a new account with a different bank which my salary is now paid into. As the HSBC account no longer received my salary and direct debits were still set on the account (these are time consuming to set up again), the account went over the agreed overdraft on a couple of occasions due to my oversight in managing the balance and the numerous direct debits that were set up on the account. As the account was effectively dormant, HSBC changed my account to a basic account and removed my formal overdraft in the months prior to issuing the Pre-Demand and Final Demand letters. I made a number of payments to keep the overdraft at its limit but , largely due to the fees charged by HSBC, the account did go over its limit again and (I subsequently discovered) entered HSBC’s ‘collection process’. Final Demand The Final Demand letter I received in September 2014 stated "We recently issued you with a Default Notice on the above account." I have never received one nor has HSBC been able to provide evidence of ever having issued one. Following receipt of the Final Demand notice I called to arrange repayment of approximately 50% of the outstanding sum with a suggestion of repaying the remaining balance but the agent I spoke to insisted that there was nothing I could do to arrange a repayment plan and I’d have to wait until I was contacted by HSBC Repayment Services (HRS). HSBC did not make it clear on the call that transferal to HRS would result in a default being registered and that the only way to prevent a default from being registered was to pay the full debt at that time. I consider that I was treated unfairly as the repeated offer in the letter to make suitable arrangements appears not to be genuine and as such, and for the purpose of clear communication, should not have been included in the letter. HSBC also declined my request to clarify this by email following the call. I requested this as the advice given in the letter and the conversation differed so greatly and I was confused by the unclear explanation of the process. The Final Demand letter stated "If you do not make full payment or make a suitable arrangement with us..." and under the "help is available” section specified that “if you are unable to pay the full amount at this time, please call the above number and we will try to work with you to come to a suitable arrangement” HSBC have subsequently responded to me to state that “As the Final Demand had already been set, only repayment of the full outstanding balance would have prevented the account from being passed to HRS and a Default registered with the CRA's.” I consider that I was treated unfairly as the repeated offer in the letter to make suitable arrangements appears not to be genuine and as such, and for the purpose of clear communication, should not have been included in the letter. Inaccurate registration of Defaults HSBC have subsequently registered a default with only 2 of the three CRA’s but did so approximately 4 months after they told me they’d closed the account and registered the default. I’m not sure why the default was registered so long after HSBC say the account was closed and why the default has not been registered with all CRA’s. Inaccuracies in registered default Whilst I don’t believe a default should have been registered due to lack of Default Notice, the default that has been registered appears to be inaccurate based on HSBC’s stated aim of showing “a true reflection of how the account has been maintained"”. The start balance has been registered as the default balance and the account was marked as satisfied about a week before the final repayment was made. In addition to this HSBC had never registered anything with any credit reference agency before April 2015 (presumably because my account was opened in 1992 before they were obliged to share information with Credit Reference Agencies) and as the date of closure of the account didn't match the date of closure stated by HSBC as my account closure date I don't consider this statement to be accurate. According to HSBC correspondence the closure date was in November 2014 but no default was registered until March 2015. I spoke with Experian in January 2015 and they confirmed a default had not been registered and indeed no information had been received from HSBC at all. This is after HSBC stated they had both closed my account and registered a default. This position only changed in my Experian credit file in April 2015. The implication here is that I could have applied for credit for 4 months after HSBC claimed they’d registered a default without a default having any impact on my chances to get a mortgage etc. In addition to this inaccuracy, the final sentence of the last paragraph of the first page of HSBC's letter of was incomplete and simply stated "This is reported for 6 years although”. Response from HSBC to my initial appeal I’ve written a couple of letters to HSBC raising the issues around what I consider to be inaccuracies and they’ve not really acknowledged them. Instead they state that sending other letters (a Pre-demand letter and the Final Demand Letter that referred to a Default Notice that was not sent) fulfilled their obligations under the Consumer Credit Act 1974. Response from the Financial Ombudsman to my appeal After receiving the email confirmation from the Financial Ombudsman that they would uphold the decision I requested confirmation by email that defaults can be registered without a Default Notice having been applied. "I can confirm that you are correct, in line with industry guidance and relevant rules and legislation a default notice should be issued before a default is registered to provide sufficient time for the person receiving it, to take action to try and prevent the default. However, when we receive cases of this type, we look at the overall circumstances of what has happened. As explained, simply because you did not receive a default notice does not mean the default should be removed." The Financial Ombudsman did agree that HSBC’s communication, including the call where they refused to agree a repayment plan, could have been clearer but don’t seem to be concerned by the inaccuracies despite stating that there “is a legal obligation for information that is reported to the credit reference agencies to be a true and accurate reflection of the account”. I’d greatly appreciate any advice on my chances of getting the default removed and the best approach to achieving this.
  5. Hi all Looking for some quick advice on a court claim from Lowell dated 5th Feb who have a Lloyds overdraft debt sold to them in 2015 although it was around 2013 that Lloyds kept adding more and more charges and fees etc. The POC is as follows : Author Document Debt assigned on 24/11/15 by Lloyds banking group PLC and the claimant claims 1. 3595.98 2.Statutory interest persuant to section 69 of the county courts act ( 1984) at a rate of 8% per annum from 24/11/2015 to 02/02/18 287.68 and thereafter at a daily rate of 0.79 to date of judgement or sooner payment Ref ****************** ( there ref number here ) I will be defending fully but was thinking of using CPR31.14 but the claim does not mention any documentation. Also is it worth sending a SAR request today to help my defence. As stated I know there are multiple charges on the account, I also do not recall receiving and NOA or documents asking me to bring the account up to date in a set timescale. Also as a side not I am currently self employed under contract work until the end of Feb so if it does go to court can I still receive a CCJ for being self employed or possibly unemployed if I do not get any contract work in the coming months .. Thanks...
  6. Hi all, Hoping for some advice if possible. Early 2017 I received a claim form from Cabot for an old Yorkshire Bank overdraft debt - I wasn't in the best position at the time but did manage to file a standard claim defence through MCOL and then was told it would be sent back to the client to review. Heard nothing and am now in a much better situation out the blue approx a week ago I received a letter from the solicitors with the documentation I had requested in my claim defence etc. I have attached a copy of the letter they have sent me and they have also sent full bank statements, notices of charges and a notice of assignment. The claim is for approx £1000 - £875 from the account and the rest in solicitor fees. As a bit of context, the account was held from 2013-2014 and I had a serious gambling addiction at the time, essentially any money I received I was spending straight away on gambling. I had a current account with Yorkshire Bank with no agreed overdraft, yet I was constantly able to go several hundreds of pounds overdrawn, and of course the fees made this worse. Based on the bank statements they sent, I accrued approx £850 of bank charges in the 10/11 months I used the account (these were at £25 per charge for unplanned overdraft and a couple of £35 returned DD). Note the final balance now is not just charges as some of these were paid off during using the account. I was in a cycle where I would be overdrawn, credit the account and return to a positive balance, then be allowed to go overdrawn on gambling transactions and then charges would be added and the cycle would repeat, until I ended up so deep overdrawn I abandoned the account. Towards the end I was able to go over £600 overdrawn in gambling transactions, and then £185 fees were also added to this as well as extra debit interest that accumulated. The letter states they would like to settle without further court proceedings and that I can propose a repayment plan. After some research online I believe one option to me would be to submit a formal complaint to Yorkshire Bank about the charges and my financial situation at the time and how I was constantly able to go overdrawn by a large amount, and if necessary go on to the Ombudsman after. Do you think this is a good approach, and would it stop Mortimer wanting to proceed with court action whilst the complaint is considered? I am of course open to any other suggestions! Thanks a lot and sorry for the long read, please let me know if any more info is required. Attached: Letter received today Statement of amount owed One of the bank statements (towards the end of the account) as an example - can see it started OD, went into credit, then ended more OD than it started (unfortunately i no longer have copy of original claim form or my defence - trying to access MCOL to retrieve these but wasn't thinking straight enough to keep a log of my details when this all started a couple of years ago) Thanks for any advice
  7. I have had a Loan, overdraft and credit card with Lloyds bank which they have agreed to freeze the interest on. They’ve had said that from this I will then have 1 default on my credit file on 6 years and within 35 my account will be passed over to the collections team and then the recovery team. What does this mean? It totals about £10K but I’m worried about bailiffs!
  8. I sent a SAR to Lloyds as we have an overdraft debt we were paying through cabot ive started to receive statements off Lloyds for loans taken out with them over the years today received a cabot annual summary of my account for overdraft with "If you don' not pay off the full amount outstanding ,we will allocate your payment to the outstanding balance in specific order,which is set out below..... what do I need to do at this stage please what information do I need to get from the SAR do I need to post it? Thanks
  9. Hi everyone - I'm in a sticky situation. I went to live abroad for some time in 2015 and I'm back now. I was sure before I left that my UK HSBC account was at 0 but it wasn't due to some overdraft that I gone into without knowing which later led to the account being closed. I just received a letter from Cabot today saying that I owe them a balance of £1347.86. I spoke to HSBC earlier in 2017 and they said to me that the account in question was closed and that I owed something in the region of £200 due to overdraft. I can't remember the exact details but I assume they said the debt was written off, otherwise I would've paid the debt right away then. This also makes what Cabot are saying quite confusing because they're saying I still owe this debt and that the fee is larger than I was told by HSBC. I phoned Cabot right after I got the letter and they told me that it was probably Direct Debit that caused the fee to be so high. I had no Direct Debit and I never admitted liability. I asked whether they have the T&C's of the agreement I had with HSBC, to which they said no. I also asked if I could have evidence of the debt but they said they didn't have anything on their side and they'd need to make a dispute with HSBC. For that I said, I'll contact them myself and get the details so they'll put the account on hold. What do you guys think? Someone told me to get this all in writing sent to them either in email or post. Should I do that? Please let me know what to do since I have no idea! Many thanks in advance.
  10. Personal Account - Overdraft 6 k - Used to have a business but the business account was closed 10 years ago but the personal account was allowed to run due to the overdraft. The account overdraft is still 6k and has been at that level owed for 10 years each year they renew the overdraft simply because the 6k is still owed. Each month a payment is made to the account that pays just the interest on the overdraft.... it used to be a very low interest account but over the years the interest has consistently gone up to quite a high level to the point where £100 each month is required to just pay the interest on the account so that it doesn't go above the 6k level and take it into the charges etc. Over the years the bank have been contacted but do little, at the start of 2011 the branch where the account was set up was visited to discuss the account to see if they'd transfer the overdraft to a loan and then close the account, at least this way the loan gets paid off where as the overdraft has stayed the same ( They were advised that the account was originally a personal account but they (the bank) changed it to a business one so as to allow for the large overdraft account (in 2000) they were also told that the business account that was running at the time was closed due to the business folding....so one business account closed...but the personal one left open and then turned into a business one so as to allow for the large overdraft) in any case they wouldn't transfer it to a loan and they then phoned a number to what they called a lender they use who may give a loan.. at which point the call was terminated by the account holder due to the fact that the bank was prepared to outsource but gave no details and expected the account holder to be ok with it? . At this visit it was mentioned to the bank employee that the account had not been used other than to service the interest on the account for 8 years (prior to that it had been used very little for 3 years previous) the employee didn't seen to give a hoot. When they were asked to provide a business manager that could speak to the account holder they were told that the account manager that used to deal with it had moved on, that a new account manger had not been allocated and for the account and a different more senior branch would need to be visited. They had business account managers at the branch, just not one for this account...which is ridiculous. Consequently a dead end and the account holder left the branch and continued to make the payments....and still does. Problem is, they have a credit card with the same bank, they've maintained the credit card payments and have got an excellent record with the credit card side of things, but the business/personal account just isn't going down and they cannot afford to pay it off, they've tried working it out with the branch but got nowhere. So what to do? If they pack in paying the overdraft they'll get a problem on their credit file, the credit cards will more than likely be removed and all that after having a faultless record with the credit card company and in the case of the overdraft it's never gone into the unauthorised part but the debt is the same now as it was 10 years ago.... What I don't understand is that the bank every year are supposed to look at an overdraft on an account and either suspend it and call the debt in in it's entirety or extend it if the account is well facilitated but given that nothing but the amount for the interest has been paid then and the account therefore not being well facilitated why haven't the bank closed down the overdraft? Are there any grounds to approach the bank given what has been stated above? also, is it not irresponsible lending on their part? Who to approach? Anyone?
  11. Hi I posted a few months ago about chasing old PPI and this particular one is very long winded dating back over two years. Its particularly interesting because they admit PPI on a business overdraft but wont pay it back and more importantly they continued to take money from a totally unrelated separate personal joint account for two years without my permission(though they have paid me that back) Scores of letters but I have uploaded the relevant ones here for your help. I discovered PPI on a business account and asked them to repay me to which they refused saying I had signed for the product Letter tennis ensued for over two years whilst they sorted out other PPI but consistently refused to be drawn on this particular matter. docs .pdf
  12. Hello I received a letter today from Nationwide telling me they are no longer able to offer me an overdraft. To be honest I've half been expecting this for a while as I have been at the max for quite some time and have just been putting in enough money to cover the fees for the account. What is the best step to take as I cannot afford to pay the full £3200 in the next 27 days as they are requesting. They have put in the letter I can call to talk about my options. Thanks DC
  13. Hi Guys Despite my constant attempts to get APS Overdraft to 1. Supply me with evidence of the debt and 2. Mark it as default or in dispute They are constantly updating the report with a 6 marker but no default. The account shows no payment since March 2016 and hit 6 in Sept 2016. The message on the credit reports states; "agreed repayments are more than 3 months behind but you have agreed new repayments with the lender" which is total BS as I have never acknowledged the debt as it is not mine. My last letter to Equifax stated; Dear sirs This account is a pre-paid credit card account that has been in dispute since discovery in April 2016. To date there has never been any debt acknowledgement made and based on this fact, taking into consideration the I.C.O. Technical Guidance on Issuance of Default Markers & Notices, the account should not be generating recurring [6] markers but should in fact be defaulted (within 6 months of the first default (missed payment) occurring on the account) which means the record should be changed to a Default status with a default date around October/November 2016. Please rectify this error as the creditor is ignorant to my repeated requests. Failure to correct the incorrect data will result in a formal complaint being raised with the Information Commissioner who, as I'm sure you appreciate, take a dim view of deliberate breaches of data processing. Kind Regards xxxx Credit Report Ref No : 5xxxxxxxxx Name : xxxxxxxxxxxx Company Name : APS - CASHPLUS Account Number : 0000 Current Balance £ : 433 House Name or Number : xxx Post Code : xxxx xxx Start Date : 03032016 End Date : 31072018 Equifax replied (after 4 weeks) Dear xxxxxxx, Thanks for getting in touch on 20/05/2018 about the information on your Equifax Credit Report. APS Overdraft has investigated your query and have told Equifax that the account information is correct and should remain unchanged. This information is supplied by the company and we can't change it without their permission. You should get in touch with the company directly if you need more information. The note that we added, stating that your information was in dispute will be removed within 24 hours. ============== Any ideas what to do next guys as it looks as though it will be ever present on my CS :-x Thanks guys
  14. Hello I think I've royally messed up with something and am looking for some advice please. Tonight I was having a tidy and have come across a claim form which I hadn't noticed or even opened. The issue date is the 28th June. I've gone onto MCOL and tried to request 28 days as opposed to the 14 but I suspect the clock struck at 16:00 this afternoon. I'm just looking for words of wisdom on how to proceed please. I know I've been stupid and didn't even see it mixed in with a load of rubbish that usual rubbish and takeaway menus that graces my letterbox. I've included the details below but it's probably a bit late for that. ----- Date of issue 28th June 2018 Particulars of Claim 1. Monies due under current account overdraft. 2. The Claimant's claim is for the balance outstanding under a Bank account facility Yorkshire Bank agreed to maintain for the Defendant. 3.It was a term of the Bank account that any debit balance would be repayable by the Defendant in full on demand.n 4. The Defendant has failed to repay the amount due. 5. The debt was assigned to the Claimant. THE CLAIMANT THEREFORE CLAIMS 2139.55 2. Costs Have you received prior notice of a claim being issued pursuant to paragraph 3 of the PAPDC (Pre Action Protocol) ? Not that I am aware of. What is the total value of the claim? 2324.55 Is the claim for - a Bank Account (Overdraft) or credit card or loan or catalogue or mobile phone account? Overdraft When did you enter into the original agreement before or after April 2007? Before, probably late 90's. Has the claim been issued by the original creditor or was the account assigned and it is the Debt purchaser who has issued the claim. Cabot. Were you aware the account had been assigned – did you receive a Notice of Assignment? I'm not sure but I have received letters from Cabot. Did you receive a Default Notice from the original creditor? I'm not sure. Have you been receiving statutory notices headed “Notice of Default sums” – at least once a year ? I don't think so. Why did you cease payments? Personal problems and financial difficulties. What was the date of your last payment? Probably 2013. Was there a dispute with the original creditor that remains unresolved? I stopped using this account and the debt has now been sold to Cabot. Did you communicate any financial problems to the original creditor and make any attempt to enter into a debt management plan No. ----
  15. Hi i am pretty new to all this but am desperate for help . I do have my self to blame but am so worried what the new charges will do to me in november . I have had a halifax account for over 25 years now and say over the the last 8-10 years have used the overdraft facily . At first it was only about 600 so wasnt too bad but then i could easily up it online no problem . My finances spiralled out of control and upped the overdraft too 1700 so the fee was only a manageable 30 pound per month . I then got involved with many payday loans and was also doing alot of online gambling . this year i went from 1700 overdraft up to 4800 even though i only earn 1000 a month . I have been refunded all payday loans interest and some written off through the FOS Wonga, Sunny etc . At the moment i pay 99 per month in fees but this is too rise to well over 200 . Under no circumstances can i afford this . I think the halifax have irresponsible allowed my overdraft to go up knowing i only earn 1000 a month . One night i increased my overdarft 4 times each 500 because it was so easy to do. I am in financial hardship and it is worrying me sick . I have not contacted the halifax yet and not sure what road to go down . I am not very good with words and i worry alot . I know i have brought this on myself with the gambling etc but they should have a system that dosent allow you to increase if you dont have the money going in . Just too add i have paid halifax over £3200 in planned and unplanned fees too date . Not including their other system before 2010 were i paid alot of fees to them . Any help would be appreciated Thanks in advance Ann
  16. Hi I'd be very grateful if you could help me with the following query: How do you calaculate whether a bank account debt is statute barred? If the debt is due to an unauthorised overdraft whereby mulitple debit card payments were allowed by the bank to be taken when there were insufficient/negative funds and no deposits were made into the account subsequently what date do you choose for six years elapsed? From the first transaction out of the account that made it a negative balance? And if I may also ask: How do you calculate the statute barred date for a credit card? Is it from the last payment made to the card or is it from the first payment missed? Thank you very much
  17. Hello to you all I have been reading and digging out numerous threads on RBS and how I can request for a overdraft charge sheet from years back. I was wondering what exactly should be the wording of the letter and what I should be looking out for in the details of the sheets they send me, this is regarding what I can and can't claim back. Many thanks.
  18. Good Morning I have been paying a debt management plan to payplan for over 10 years, following advice from this forum for which I am soooo grateful for I have sent CCA's off to all my creditors and awaiting responses. My abbey overdraft has been sold onto Cabot, I understand that I cannot sent a CCA. The last payment to them on my debt management plan was Dec 17. The balance is £588.19 What is the best way to proceed with this, should I send a SAR or set up a payment plan direct with them, are they likely to accept a F&F? Thanks for your advice/help in advance
  19. HI Guys, Capquest have been writing and callimg me since taking over a Halfax OD. i recently sent them a 'prove it' style - They replied. - Overdraft response was very generic: 'We have been advised by 'bank' that section 74 of the CCA 1974 provides that an overdraft on a current account will not fall within the documentation requirements of the CCA. Therefore we are not providing a copy agreement for the above' Doesnt leave me with a very good idea of anything right? My uncle has been kind enough to lend me money so i would settle, but first off i dont know who the hell Capquest are and they are not responding accordingly to me. Any advice is appreciated Many thanks Its seems not only have Halifax put a default on my file but Arrow have too!
  20. I was going though some paper work and found some statements going back 2010-2015 with astronomical charges levied on my current accounts by Lloyds. I remember sending a letter in 2013 but forgot all about it. Again I sent a letter last year asking for these, but I was told it is too late. But I am just wondering whether to send them a fresh claim stating that although I started the claim in 2013 never got a chance to pursue it due to house moves and other issues. Do I still have a chance to claim or is there a time limit? Thanks CB
  21. Starting from 2nd Nov, Lloyds are changing their overdraft fees and rates. There will be no charge for unauthorised overdrafts, as I understand it, but their rates will be charged at 1p for every £7 you are overdrawn, everyday. I will be switching banks, so it won't bother me. However, today I worked out the EAR that the new rates would be equivalent to. If x is your current overdraft, after 1 day you will be charged (x/7)×0.01=x/700. So your overdrawn balance will be x+x/700 after one day, assuming you spend nothing else. Factorize the x out, and this is the same as x(1+1/700). After 365 days that will be x(1+1/700)^365 = 1.68x. Therefore, the effective percentage increase over the year is 100*(1.68x-x)/x=100*0.68=68%!!!!!! Have I made a mistake? That is an obscene rate of interest!!! They say in the literature they sent me that this is to make it easier to understand the charges and control your overdraft, which I find extremely disingenuous. I would argue that it is nothing more than a greedy, profiteering, cynical ploy to profit from people, many of whom (including me) may already be struggling to keep their overdraft under control, and may not realize exactly how much more it will cost them. Moreover, I have not seen anywhere in their literature a statement of the EAR or APR. I even phoned them this afternoon and asked what the EAR of the new charges is, and she could not give a figure. They may be calculating their rates daily, but it does not mean the EAR cannot be calculated, as I have done above. I'm not sure about this, so maybe someone who is well versed in credit law can clarify, but I think that may even be illegal from the quick research I did. I think it is a requirement that lenders provide a percentage EAR or APR rate so that consumers can make meaningful comparisons between lenders. Is this correct? If so, can you give a reference to the appropriate piece of legislation? Apart from my specific questions about the legality of this, I just wanted to warn people. I'm surprised it hasn't been mentioned yet.
  22. Hi all, My OD was cut by half recently, which will cause me some hardship, on top of which I also lost my job. I have a meeting coming up in branch to discuss, are there any do's/don'ts so I can hopefully increase my chances of getting my OD back to comfortable levels? Thanks, JB
  23. Help please. I have received a CCJ claim pack from Rentons solicitors in regards to a apparant debt linked to a overdraft I have no knowledge of. I have answered the default questions below. Can someone please offer advice / assistance on what I should do now please. I have completed the Acknowledgment of service on the money claim website so the clock is ticking now. Please help Name of the Claimant ? - Restons / Arrow Global re: Lloyds bank overdraft Date of issue – top right hand corner of the claim form – this in order to establish the time line you need to adhere to. Date of issue : 04/04/2017 What is the claim for – the reason they have issued the claim? - The claimant claims payment of the overdue balance due from the Defendant(s) under a contract between the Defendant(s) and Lloyds TSB dated on or about Dec 30 1994 and assigned to the Claimant on Nov 20 2013 PARTICULARS a/c no xxxxxxxxxxxxx DATE 10/02/2017 ITEM - Default Balance VALUE - 4500 Post Refrl Cr - NIL TOTAL - 4500 What is the value of the claim? £4500 Is the claim for a current account (Overdraft) or credit/loan account or mobile phone account? - Appears to be a overdraft for a account I have not used since 2011. When did you enter into the original agreement before or after 2007? Yes - appears to be Dec 30 1994 Has the claim been issued by the original creditor or was the account assigned and it is the Debt purchaser who has issued the claim. Appears to be debt purchaser - Arrow Global Limited. Were you aware the account had been assigned – did you receive a Notice of Assignment? No - I have not received any documentation in regards to the debt - didn't know it existed before receiving the CCJ claim pack as I was working out of the country since February 2011 Did you receive a Default Notice from the original creditor? No - Left the country in 2011 so have received no communication from Lloys of anyone in regards to this debt. Have you been receiving statutory notices headed “Notice of Default sums” – at least once a year ? - As above - Nothing received. Why did you cease payments? - Left the country - left account open but was completely unaware of any outstanding overdraft. What was the date of your last payment? - Nothing paid into account or account even used since Feb 2011 Was there a dispute with the original creditor that remains unresolved? No dispute. Did you communicate any financial problems to the original creditor and make any attempt to enter into a debt management plan - No communication at all ever had. What you need to do now. If you have not already done so – send a CCA request to the claimant for a copy of your agreement (except for Overdraft/ Mobile/Telephone accounts) - This appears to be for a overdraft - shall I still send CCA ? Thanks in advance for any advice guidance given.
  24. Hi, I ended up with an overdraft as a company I was working for managed to trick me into giving them my card details, allowing them to take £3500 out of my account when there was no money in the account, ending up in an unauthorised overdraft... This was 3 months ago. I was lead to believe that id be paying back £225 pound a month (roughly), on the 29th of each month. Now that I checked, they are charging me interest and some other card charges, totalling in 3 extra charges on the 3rd of every month, adding to £75 on top of the overdraft, I only have a debit card? One charge is £20 because I don't have money in the account. Is this right? what can I do? can I claim it back? Court? I'm raging! Please help, I would hate to find out there was nothing I could do, I have the dreaded feeling that there is nothing I can do... I need my credit rating up as I am trying to start a business, this all happen at the worst time... word of advice for anyone its relevant to, "Don't Work For Amazon", they are slave drivers fringing on the law...
  25. After the recent changes to unauthorised overdraft fees/charges, i believe every effort should be made to force the banks into repaying the money they have squeezed out of their customers, especially Lloyds. The fees/charges were disgraceful, £10 a day for a maximum of 8 days and then the interest on top, also a charge for being overdrawn was applied, basically there were months i received almost £90 in charges for being merely £20 overdrawn, it's downright disgusting that these banks have been allowed to get away with this for so long. I tried on a few occasions to arrange an overdraft but was refused, yet Lloyds were quite willing to allow me to go overdrawn without authorisation and squeeze out these fees from me. They are honestly a disgrace, and should be made to payback what they have taken, i would love for this to go the same way PPI did, so the FCA needs to make this happen.
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