Help With Halifax

[scamp]

Hello Guys, sorry if this is the wrong section but this does look like it deals with default notices. ok i lost my job about 7 months ago and have now exhausted my saving paying off my monthly payments about 2 months ago.

 

I will concentrate on the halifax as I owe them the bulk of all my debts 3K over draft, 7K Loan and 4K on a loan. Now i am ok with the overdraft and credit card but this could change soon.

 

The loan department were the most aggressive in following up my first missed payment hence why i dealt with them first. I agreed to pay them £60 per month(normal £179) until i got a new job which will be in 2 months starting in November and i would resume normal payments and pay back any arrears immediately. Now i thought that was the end of that until i get a letter stating that as i am in 2 months arrears they are going to issue a default in 10 days(elapse in 2 days).

 

Now after a phone call with them they are still going to issue the default notice as i will have missed 3 payments, even though i offered to set up a reschedule there and then. They refused the reschedule as my contract is for 3 years and would not let me reschedule as the repayments would be the roughly the same as pre default over the term.

 

Now maybe i am wrong but i feel i have done everything i could to pay this back, previously never missed any payments ever. I feel that putting me in default is unreasonable, i can assure you that its pointless arguing this as i have tried for 3 days now.

 

In light of this the hulk is coming out in me now and i am looking to the future now. Ok they default me, from my limited knowledge gained from this forum i see it this way.

 

Now that they have defaulted me there is no incentive to pay them back and i should just now tell them to beat it and stop making ANY payments. If i do this then after 6 years the default notice will fall off and the debt will be statutory banned. IS THIS CORRECT, if this is correct what is the advantage in keeping up regular payments and paying this off?

 

Secondly if i have one default i might as well have 3 defaults no difference they will all drop off at once, is this correct.

 

Please do not think i am trying to work the system i was in for 65K debt and have payed of 50K and until i lost my job.

 

Would be grateful for any help.

 

Thanks

 

PS Forgot to add that i am in Scotland so not sure if the same rules apply.

Edited September 10, 2012 by scamp
Forgot to add that i am in Scotland so not sure if the same rules apply

[scamp]

From some other forums where i have posted this thread it would appear that paying anything back after the default would be foolish. The only downside would be putting up with the bottom feeder collection agency's but that is no concern to me.

[scamp]

Talk about dead, this forum has the least feedback, getting more advice from a car forum

 

Anyway some more contradicting advice, it seems they can go for a decree and an attachment order which basically changes the debt from unsecured to secured. But nobody has been able to tell me how likely this is or thresholds before this becomes likely. Probably wasting my time writing here but if it helps anyone then i will continue to add as I find out more.

[BRIGADIER2JCS]

If the creditor defaults the account then terminates if you do not remedy the default they could issue proceedings within days or deem it to much trouble and sell the account on to a debt purchase company.

 

A debt that has not had any payments made to it and no acknowledgment in writting made becomes statute barred in Scotland after 5 clear years, and is at that point extinguished.

 

If you pay the required default sum as set out in the default notice then the account continues as normal.

 

As to your other comments all the site team on CAG are voluntry and have outside jobs and families to look after.

[brokebutnotbeatn]

once you have defaulted then the account could be closed and sold on. You have defaulted so why are you worried about them placing a default on your credit files? Halifax are the worst for freezing interest rates. They defaulted me but my account is still with them after 3 years. If you don't pay anything then you risk getting a CCJ. This is a self help site so once you've researched, as you are doing, and decided a course of action then you will get help with that along the way. Debt avoidance is not condoned.

[BRIGADIER2JCS]

I must agree with BBNB on this you must start checking your facts.