Default notice

[djgordyp]

Hi. I just received a defualt notice regarding an overdraft on my current account

 

"The terms and conditions of the above account state:-

At any time we may require you to pay us all or part of any overdraft, interest and fees or charges which you owe on your account.

 

You are in breach of that condition because we have asked you to rapay the whole or part of your overdraft and you have failed to do so.

 

To remedy this breach you must pay into your bank account the sum of £XXXX before 9th July 2009"

 

The rest of the letter is the usual stuff about what they can do etc.

 

The bit that annoys me is the paragraph in red. I have been making payments towards this debt for the past few months via CCCS. So how can they say I have failed to pay part of this debt?

 

I wish they would take me to court because at no point have I ever failed or refused to pay any of my debts. Just that I'm not paying as quickly they would like.

 

I doubt very much if they will take me to court as the judge would probably want to know why they are when a DMP is already in place.

 

The letter is dated 10th June. The CCCS have been making payments on my behalf for the past seven months.

Is there a template letter I can send them or should I just forward this to CCCS and let them deal with it.

 

Slightly off topic now. About 3 months ago I had a call from Halifax CC. Told (reminded) the person I spoke to about being on a DMP. I had the interst reduced to 1% and was told this would be reviewed every three months. Had another call last week. The guy I spoke to was going to renew the plan for another three months. After a few seconds silence he extended that to a year with no interest or charges. Now I'm not complaining, but wondering are they going soft all of a sudden :grin:

[Spamalot]

Hi there djgordyp, (not easy to say if you've had a few!

 

Can you post up a copy of the default notice for us to have a look at?....They are famous for getting them wrong so it's well worth a look before you get started?

 

Spam.

[djgordyp]

Hi Spam I didn't/don't think it's really necessary. I have typed out the first few paragraphs which I think are the important ones. The rest is just the usul guff about how they can take me to court and how a judgement would affect me.

 

However, if anyone else thinks it's still necessary to post it then I will.

[Spamalot]

The really important bits are the date of the Default and the date they give you to remedy and amounts ..... if they haven't given you enough time to remedy and they then terminate they are stuffed.

 

It also has to be laid out in a specific way so I thought it might be worth looking at.

 

I haven't started a thread yet but I'm just one step behind you in that I have been paying off my overdraft with arranged payments and they have now told me they are going to default me and pass me on to DCA's but as it's not a credit agreement I'm not sure how this is supposed to work.

 

I shall watch your thread avidly.

 

Spam.

[djgordyp]

Like I said, the letter is dated 10th June 2009. I have until 9th July to pay the full amount. The first payment (via CCCS) towards this debt was in December 2008. I am paying £28.14 p/m and have paid £198.96 so far.

 

I don't use this account anymore and in fact I was under the impression that it had been closed.

Halifax know very well I am on a DMP.

[Spamalot]

Hmm..... My letter is dated 11th june and I've got to pay just over £2000 within 28 days according to them, and if I don't I will be defaulted and passed to their recovery team..

 

I did use a DMP up until they led me slap bang into a CCJ last year and since I found CAG I've started handling everything myself.

 

I have literally just started with my Halifax Junk and will be starting a thread on the overdraft later today and my question would be...

 

IS an overdraft a Credit agreement?

 

I too had a bank account and they just kept increasing my overdraft willy nilly so it seems to me it's their fault if I spent their money. They gave it to me & I didn't sign anything as far as I know!!

 

Spam.

 

I suspect they just want to write the debt off for tax puposes.

[Spamalot]

Slightly off topic now. About 3 months ago I had a call from Halifax CC. Told (reminded) the person I spoke to about being on a DMP. I had the interst reduced to 1% and was told this would be reviewed every three months. Had another call last week. The guy I spoke to was going to renew the plan for another three months. After a few seconds silence he extended that to a year with no interest or charges. Now I'm not complaining, but wondering are they going soft all of a sudden :grin:

 

With regards to the above,

 

The course of action I received was them allowing me to have an interest free arrangement which was reviewed at regular intervals, after approx 1 year they informed me they were going to default me, (which they did with a dodgy DN )and pass it on to their recovery team and I would no longer have to pay interest for the life of the debt.. They also contact me regularly to try and agree on a settlement figure...

 

I have been paying them regularly but I suspect that they don't know where my agreement is or it's unenforceable because they are being so reasonable. ;-)

 

I'll be starting a thread on that later today too.

[djgordyp]

Hmm..... I suspect they just want to write the debt off for tax puposes.

From what I've read on here that is exactly what they do. They sell it to a DCA for peanuts and then write the rest off against tax.

[djgordyp]

Ok so gere it is

Page 1

http://i213.photobucket.com/albums/cc320/djgordyx/Defaultpage10001.jpg

Hope you can read it alright. It turned out a bit smaller than I hoped. The rest will folllow shortly

Page 2

http://i213.photobucket.com/albums/cc320/djgordyx/Defaultpage20001.jpg

Page 3

http://i213.photobucket.com/albums/cc320/djgordyx/Defaultpage30001.jpg

Once again sorry for the size

Edited June 15, 2009 by djgordyp
Adding content

[djgordyp]

Bump

[Spamalot]

I'm not a complete expert on these things but it looks like they have pulled their socks up on the Default Issue and the dates are ok for a change.

 

It is very likely they will now trash your credit record with the default and pass you onto Blair Oliver Scott ,their in house collectors,and you will carry on paying as before...

 

It is annoying because this is how they seem to do things... I was told 'We have to default you before we can pass you on and then you won't have to pay interest for the life of the debt'

 

Spam.

[simonjohn]

Bump

 

Did you receive a termination notice before the date required to pay arrears on the Default Notice.

[djgordyp]

Did you receive a termination notice before the date required to pay arrears on the Default Notice.

Not sure about that.

The thing that's caught me attention now is the bold paragraph on page two which points out that if they get a judgement against me in court, I may still have more money to pay out even after the judgement is settled.

Is this correct?

 

Hello Spam. My credit record has been trashed for years, so I'm not bothered about that.

I'm looking forward to hearing from Bloody, Orrible & Stupid. It's been a while.

[Spamalot]

Not sure about that.

The thing that's caught me attention now is the bold paragraph on page two which points out that if they get a judgement against me in court, I may still have more money to pay out even after the judgement is settled.

Is this correct? I THINK this is something to do with the fact that an overdraft is not a consumer regulated agreement and therefore they MAY be able to ask for interest after judgement which would mean you paying the balance and then some..... but that is the worst case scenario.

 

Hello Spam. My credit record has been trashed for years, so I'm not bothered about that.

I'm looking forward to hearing from Bloody, Orrible & Stupid. It's been a

while.

 

I really wouldn't worry too much at this stage... just wait and see what happens.... they may terminate before the default remedy date and then you'll be laughing all the way to the bank!

 

Seriously don't worry, they'll just pass it off to BO&S or one of their other cronies and ask you to continue with the arrangement you've already got. few months down the line they'll ask you to increase payments or give you a full and fnal offer.... thats what they've done to me in the past.

[djgordyp]

Yeah I think court action would be the last thing they'll do, if at all