Halifax Bank Overdraft

[Billy goat gruff]

I had been with Halifax for over 4 years but decided to switch Bank accounts in November changing all my Direct debits to the new bank. I got copies of all the statements and charges applied to my account over that time and added up the fees that totalled £470+ tho the court ruling put the kibosh on me reclaiming. They offered me £105 goodwill which I accepted on the understanding that this would not prejudice my claim for refund of charges(tho I doubt this will ever happen now). I switched to the new account tho one slight problem I still have an overdraftt of £1200 with them and they are now hounding me via the phone presumably to get their money back. Problem is Im so stretched financially I havent got £1200 and I cant afford much to repay. Ive sent the phone harassment letter off to them today.

Any advice please?

[42man]

Hi BGG...i'll move this to the Halifax forum where hopefully you should get some more comment/advice...

[Billy goat gruff]

Had a letter from Halifax today accepting my repayment proposal however what isnt helpful is they have said they will continue to charge me fees which rather negates the opportunity to reduce and pay off the account and amount outstanding. They then went on to say that the situation will be reviewed in 6 months time and it may be referred to their recovery team who will try a long term repayment solution also said they will issue a Default Notice at this stage and may commence legal action.

 

I really would appreciate some advice from someone out there and whether there are any template letters I can send them?

[Billy goat gruff]

Anyone out there who can advise please????

[Tiger Swiftly]

I was an employee at a Halifax branch until quite recently. Heh.

 

If you organize a payment plan with the organization they should be able to put a freeze on any mounting charges. I'd advise writing a firm letter explaining that you are not in the position to pay back the O/D at this time, but you would like to pay back X amount on X date every month BUT need them to stop applying charges to the account.

 

They wouldn't be able to do much in branch, but they can possibly pop you on the phone to the arrears department to organize such a payment plan and account freeze.

 

My only worry is that I think rules have changed recently regarding financial hardship and payment plans in general... but hopefully some of what I've said will help somehow.

[surprise]

Well, I'm in exactly the same situation and my complaint has been ongoing since 26.10.09. I received their final response and I was told to go the FOS. I find this a ludicrous situation, I am willing to pay off the overdraft at the rate of interest I did agree and not the new one they introduced. They have now applied the new rate of interest which has taken me over the agreed overdraft and I received a letter saying that interest rates will now be £5 per day.

 

I have put a complaint into the FOS I've also copied in OFT and my MP.

 

I cannot believe that they would rather pay £500 for a complaint to be dealt with by the FOS than come to a manageable repayment with me. I have been a customer for 10 years and I have never had any problems with them until May last year, since this time it has been nothing but hassle.

[Billy goat gruff]

Thank you for the replies.

I have written a letter of complaint to their Customer Relations and I have raised the issues with them. Its ludicrous charging me £12.50 a month for an `Ultimate reward account` I dont use. The recovery team manager was very condescending and her general tone was patronising hence the basis of the complaint.