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Huge overdraft and fees I can't clear/afford

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At the beginning of 2013 I was in the midst of payday-loan hell, mainly due to gambling.

 

I have resolved all but one of those (who I am paying £2 a month to)

 

I lost my job in Jan 2011.

At some point Halifax allowed me to increase my overdraft from £3000 which I had from student account up to £5000.

 

I spoke to them at the time (or a couple of months later) about the fees (£100 a month) and they agreed to pause for 6 months due to no job. They then paused them again for another 6 months. I had not gained employment in this time.

 

After this period they would not freeze the fees which were £3/day.

I was still using the account and had some money coming in at points and they got their fees.

Sometimes I went over for a month or two so they charged more (£5/day for a maximuim of 100/month).

 

At some point last summer I spoke to them and they said they would hold the fees on the basis I would begin to repay the overdraft. I could not agree to £50/month and at the time I didn't want them to close the account and pass it to DCA because some people still had these details.

 

I made sure I stopped using this account.

The fees appeared to freeze for 2 months and I called to lower the overdraft to £4900.

This was my way to begin to repay it.

As soon as I did this they started adding fees again.

There were also some months they haven't added them (though they have this year) probably due to some error.

 

They have called me on and off and sometimes I answer and the conversation has been cutoff or whatever.

I have lately buried my head in the hand somewhat.

 

All I want is for them to freeze the fees as I have requested many times and I will lower it as and when I can

(I am working some at the moment, but still receiving housing benefit as it is not regular work)

and then not start adding the fees again when I do reduce it.

I would also like the most recent fees removed, if possible

 

What is my best play?

It was somewhat irresponsible lending but I'm not trying to get out of it

(though I wouldn't mind and could easily have done a DRO before and had it cleared!)

 

They currently don't have my correct address as I have moved and not told them,

though I can get post at the old address still.

Should I update them?

 

My balance is currently -5189

 

Thanks for any advice!

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Good old shallowfax.

 

TELL them don't ask, demand they stop all charges/fees etc, and at the same time reclaim ALL of the fees/charges they have levied on this overdraft, with added interest which should reduce the total owed somewhat and you can then begin to make payment toward it.

 

UNTIL, they agree to stop adding these charges, then they get £1 a month for the life of the debt, no ifs or buts, if they fail to play ball, then they lose.

 

Do not be afraid of powerless DCA's either, they can do nothing, less for sending out puerile missives which carry no weight, they're good for a laugh!

 

Send them this http://www.consumeractiongroup.co.uk/forum/showthread.php?387436-Letter-for-consideration-regarding-Hardship-or-Financial-Difficulty obtain ''Proof of posting'' which is free from the PO counter, and wait for them to respond.

 

Are you paying anything now?

 

What correspondence have they been sending you regarding this?

 

Check your credit file also, noddle is free.

 

If you have a DD set up with them you need to cancel it ASAP and ONLY ever pay using a standing order.

 

Keep a diary of events also, and keep everything in writing only, no phone.


Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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I will compose the letter and send it them.

Should I let them have my current address?

 

I am not paying anything to them now, no.

No point until any charges are frozen/reversed in my opinion.

Should I get them to close the account or just freeze it

 

Only been getting the standard " your account is overdrawn by 100/200/300" (over my limit)

 

According to Noddle I am AA (behind agreed repayments by 1-2 months) only Feb 2016, July-Aug 2015 and Sep 2014.

Mainly due to money going in at points and this covering the fees.

This has now stopped.

 

Thanks for your help!

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Yes ensure they have your new address, this will stop them getting a CCJ by default.

 

However DO NOT give them any contact numbers, you don't need their harassment all hours of the day.

 

How long were you with them?

 

Once you've sent them that letter, be prepared for a ton of deforestation to land on your doormat, but it's nothing insurmountable, as their letters are mostly psychological rather than actual, once that is realised then their letters cease to have any effect.

 

This will most likely be flogged off to a powerless DCA, can't remember who had my shallowfax debt? But either way, they can do absolutely zero.


Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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They already have my phone number, unfortunately. Fortunately they only ring once every month or so

 

With Halifax since 2005 or so? Overdraft coincided with the start of Uni in 2008

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Well they've passed/sold it on to Moorcroft.

 

I don't really want to deal them but if they will take £10 a month or something I will.

 

I could also stick my head in the sand. They don't have my new address soon but it would be easily enough to find with a credit check I would suppose.

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Well they've passed/sold it on to Moorcroft.

 

I don't really want to deal them but if they will take £10 a month or something I will.

 

I could also stick my head in the sand. They don't have my new address soon but it would be easily enough to find with a credit check I would suppose.

 

Save your £10...Moorcroft don't litigate.

 

Andy


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Moorcr@p ha ha ha ha, don't you dare pay these crooks anything, certainly not £10 a month! That'll go straight into their profit pocket, they'll hold onto this for a few months, then flog it on to one of their equally powerless chums to harass you.

 

IGNORE any powerless DCA, deal direct with the bank re. the overdraft and get reclaiming all of their fees/charges including interest.

 

Start their complaints procedure, and escalate it as much as you need to, if necessary all the way to the ombudsman.


Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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Well I like those last 2 posts.

 

So I shall ignore moorcroft for now.

 

What is the gist of the letter I should send halifax, if I send them anything?

 

As far as I know the account hasn't even been defaulted if that makes any difference?

 

Noddle shows it as late payment/payment behind.

 

Thanks!

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Well I've had my first letter from them (at my new address; that was fast!)

 

Gonna ignore them, but until when? What should I be writing to Halifax please?

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Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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I totally didn't contact them at all.

I was getting phone calls from Moorcroft but they went silent eventually.

I moved and haven't heard about this until the other day when I got a letter from Credit Security Limited.

 

I ignored that but it made me think about it again.

 

I received a new letter saying

"Our client has indicated that they are prepared to accept a discount if you are able to make a lump sum payment.

This offer is subject to an affordabilitity check......"

 

They want me to pay just over £2k

 

They said If I took advantage of that offer they will update my credit record as Partially Satisfied" and a "nil" balance outstanding.

 

I am in a slightly better position than I was 2 years ago but it's still not perfect.

I was thinking if they would take 500-1000 I would manage to get that paid, but I receall reading that I should have it marked as "fully satisfied".

 

Should I deal with CSL or halifax directly?

Should I ask for a breakdown in charges over the specified period?

 

Any thoughts please?

 

Thanks!

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How long has it to remain showing on your credit files ?


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your thread please PM me a link to your thread

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How long has it to remain showing on your credit files ?

 

I'm not 100% sure but according to the credit report the last payment status was April 2016 so i don't think they defaulted it until then.

 

I am going to do a SAR with them I think.

 

I just checked again and date of default wasn't until may 2016

 

Some other dates;

 

My initial OP was wrong; I lost my job Jan 2013.

 

I had reduced my overdraft from 3k to 1k in September 2012.

 

In Jan 2013 I increased it many times consecutively to 5000 and that's when the troubles started with the job then gambling, overdraft etc

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