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Hi.

 

I am having problems with Halifax and a debt on my account, I have a £100 overdraft on an account I hold with them.

It all started last year when I relocated and ended up in a lower paid job so have a very minimal income at the moment. Obviously having to go into my overdraft on numerous occasions to get by from day to day they have a charge of £1 per day in order to use this facility. So with those charges in place my money whittled away very quickly and before not too long the bank charges they were charging me was sending me over my overdraft limit to which they charge me £5 a day to use. Things since then have escalated significantly and now my bank account is in £500 of debt still getting charged £5 a day for been in this and I can not afford to keep up with which is getting worse and worse each month, to which I have now received a letter stating that if I have not paid them back the full amount by 17/06/2011 that they will be taking legal procedures against me. Now I am awfully lost and have tried the debt advice line and not got alot of help from them.

I am no longer using this bank account due to the fees that they were charging me been too much, so have opened a new bank account with no overdraft or charges in place.

 

All in all I could do with abit of friendly advice as to how to approach the bank, if there is anything I can do or where I stand in my rights really.

 

Thanks in advance

 

John

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welcome to cag!

 

it looks like that they have exercised the 'recall', and full payment, of the od?

could try and challenge the legality of things to see whether they have done things properly and so can enforce the matter in court. and poss try and reclaim 'charges'. this would require some research. 'catalogue' accounts are sometimes unenforceable. depends on the circumstances.

or, could come to some arrangement with them whereby they freeze interest and charges and agree a monthly repayment plan according to what you can afford.

or if poss could try for a reduced full/final offer?

there are other options depending on your circumstances.

they are unlikely to start legal proceedings straight away. it would prob go to a dca first. try not to speak to them on the phone, and get everything in writing. if their 'threats' are contrary to the OFT guidance on debt collection etc, then complain. have a read around cag.

imo

Edited by Ford
typo

IMO

:-):rant:

 

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