Screwed over again!!!!!!

[Guitarfreak]

Hey guys, I had a thread on here before about my brother using my card, lots of lovefilm charges and unfair bank charges. Anyway i only started a payment plain with Blair w.e today

 

Now on to my problem, 3 years ago I opened a student account and was told its 3000 and you have a year after graduation to pay off.

 

Last Friday I received aletter telling me that my student od was expiring on the 21st. Today I went the bank with proof I am still a student when the guy rang up he told them he has proof that I am still a student but they told him I couldn't extend without resolving the other account!

 

So I rang the collectors and arranged a plan then the guy rang back, the head office still said they cannot change it so it will end tomorrow despite my course ending In July

 

The man said sorry I carnt help all it means is your account will go into arrears for 2900 tomorrow

 

I was gobsmacked, is there anything I can do? Thank-you for all help in advance

 

Alan

[the_freedom_trail]

Hi Alan,

 

I'm a recent graduate so I have a pretty good understanding of the student finance situation.

 

The first thing that I will say to you is don't panic. Tomorrow your account will go into the red by £2900. You, me and Halifax know that you are going to be unable to repay it - they are being pathetic!

 

Seondly, get down the cash point and have the last £100 out to keep you going. Normally, getting in to further debt would be the last thing that I would advise anybody to do but at the end of the day you might aswell be in for £3000 as you are £2900.

 

After you have done that, you need to get any payments in to the account switched/stopped asap, e.g. money from Mum and Dad, SLC, etc. Pay special attention to your student loan as they are a bit slow at the SLC (as you might have experienced ). I am assuming that you have another current account to switch to - if not set one up asap. You need to be quick! Make sure that it is not another account with a member of the Lloyds Banking Group becuase they might take money from one account to pay your Halifax o/d (this is know as the right of offset).

 

I wont lie to you, it is possible that your credit records will take a thump because of this so get the new bank account open before that.

 

With regards to o/d's they are repayable on demand so there is little you can do to fight the withdrawal of that credit line from the bank. That said I think they are b&*^ards for what they have done to you.

 

Next up, write to the bank and tell them that you are in financial hardship (not hard to demonstrate at all for most students). After this, they should send you their income and expenditure form to complete that will allow you to make an offer to repay the account.

 

At the end of the day they will probably hit your account with £5 a day charges and then eventually default you but there is precious little point in taking court action against you. Don't worry too much about the thought of your credit being damaged, you are unlikely to need it for anything like a mortgage for atleast six years.

 

I do apologise because I don't know the circumstances surrounding your other account but if you need any more help feel free to ask!

 

All the best,

 

TFT

[Guitarfreak]

Yeah I have transferred money over to my natwest current account

 

So is it better writing than phoning? I got no where last time lol

 

there just idiots, so annoying

[the_freedom_trail]

Yes, you must always write. I can't tell you how important it is to not speak to them on the phone. By writing there is a paper trail and they are far less likely to lie to you.

 

TFT

[Guitarfreak]

Ill write a template then and post it here, send it recorded on thursday. Should i send it to the head office or where?

 

And what type of things do i need to say? Cus theyll say they can withdraw an od at anytime right?

[the_freedom_trail]

A Student

Your Address 1

Your Address 2

Your Address 3

Post code

 

Date

Halifax Bank

Po Bo 548

Leeds

LS1 1WU

 

Dear Sir or Madam

 

Account Number: 00000000

Sort Code: 000000

 

I am writing with regards to the above account.

 

I understand that you have now formally withdrawn my student overdraft facility and that the account now has a balance of -£0000 (insert amount) in an unauthorised overdraft.

 

As I am sure you will appreciate, my preferred resolution to this matter would be to have the overdraft facility reinstated. However, if you are not prepared to do this then, due to my current circumstances, I would like to be considered for your financial hardship scheme as I am unable to repay the balance of this account in full.

 

Whilst you are considering my application for hardship I ask that you freeze the application of any charges and interest on the above account.

 

I look forward to your full response within 14 days.

 

Yours faithfully

 

A Student

 

This is the sort of thing you need to send - obviously, tweak it as you would like. Personally, I don't see why they would refuse you as this is their best shot of getting their money back. I expect they will send back an income and expenditure form for you to complete which will allow to calculate an affordable offer.

 

Best Regards,

 

TFT

[Guitarfreak]

Thanks mate ill type this up tonight and send tomorrow. It's A good job there are sites like these!