Quick question

[Piper79]

Hi

]Have an old loan with Halifax that we defaulted on in July 2011 (thankfully should be getting removed soon). Anyway we have been paying back what we owed for what I'm sure is now the last 3 years if not 4/5. The thing is we pay £50 a month for what used to £25 (reg payment), but the the thing is we are still paying interest so £25 goes on that......does that sound right or should we not be paying interest on a defaulted account?. The amount we owe barely seems to be reducing. I think we still get statements from Halifax.

Sorry can't paragraph properly I'm using my mobile.

[Old Cogger]

default notice was issued?

[Piper79]

Probably was, but don't know exact date the default notice was issued however the account was defaulted in July 2011.

[Bazooka Boo]

Good ole shallowfax, continuing to put profit before their customers!

 

If you have an agreement with the bank to pay £50 and they continue to add interest, then you're going to be paying them forever.

 

Has the account been terminated? If so then the addition of interest will have stopped on that date, so find out how much you've paid them, and reclaim what you don't owe.

[Piper79]

Hi sorry for delay in replying. I'm sure the account was terminated, well passed on to a debt collector I thought. All I can remember was a man turning up at the door to "help" us if we were in some financial difficulties. At this point I don't think we had been paying the debt for a while. Things had started to get better for us so when he came we were more than happy to start paying again. Instead of the original agreement of £25 he said we should pay £50 as it showed more willing. It shows on my credit file as a residential mortgage (must be because it was a small secured loan but didn't realise it would have anything to do with mortgage). So every so often (possibly a year) we get a statement about the mortgage and it has 3 parts saying sub mortgage and can't remember the other but I've just always found it odd but never questioned it as don't understand it. Hope the above makes some sense.

[unclebulgaria67]

Piper

 

You really need to contact Haliax and get hold of the details of the debt being collected. They should provide you with the last statement of account and basic details of the loan, without needing to submit a Data Protection Subject Access Request. I am guessing recent statements are not from Halifax but a debt collection agency (DCA).

 

There is a big difference between a secured loan against property and a standard personal loan. You would have been given warnings about possible consequences if you did not repay a secured loan. E.g repossession.

 

On any recent letter from the DCA dealing with this debt, who does it state as their client ?

 

Who are you making these payments to ?