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unaffordable fees for Halifax overdraft

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Hi All,

 

I have had a Halifax account for a long time. but it has a massive overdraft (8,700) It was our own fault and very stupid, we were really struggling with money at the time _ it was a few years back -can't even remember how long, but we had a small overdraft

 

we went on line to increase it a bit to cover us for that month, it was so easy, we went back in and did it again till it finally declined at the above amount, but I'm sure we managed to increase it by about 4,000 in one day!

 

things were ok and we were being charged about £100 each month in fees for always being in the overdraft.

 

but in april (I think ) the fees changed to £12.42 per day for us which is about £372 per month!.

 

There's no way I can afford that!.

 

I have a basic current account with the Halifax which I've been using as my main account for some time, but no income is paid into the overdraft account at all now.

 

it's already being recorded on my credit file as two months in arrears and the balance is now about £9100.

 

I want to pay them back but at £372 just for the fees it would be impossible.

 

but I also don't want another default, as my credit record will be clean in 2 years and we're selling up to rent and clean up our credit records so a new default for another 6 years won't be good!

 

Is there anything I can do to avoid this? and make an offer to them to pay what's owed?

Edited by dx100uk
Spacing

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Move your bank account to another parachute account. Get salary paid in there etc. (I see you already have)

Then speak to Halifax and ask them to limit the OD Fees... I do believe they have the ability to do this.

 

Halifax are quite naughty because they dont limit the OD Fees on Arranged Overdrafts,

I bank with NAtionwide and pay a flat fee of 50p a day on whatever my OD is when in use as a Flexplus member..

The amount you are paying is obscene by no means. You may end up getting a default which its one small thing but Halifax need to do more to resolve this.

 

Dont forget to record your calls.

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the thing is they've put me way over my limit with the just the fees.

 

I want to write to them and say that I am willing to pay them back at £150 per month, as soon as I sell my house I plan to clear them completely anyway,

 

but I just don't want and extra default on my credit report, if I come to an arrangement with them, can the default be avoided?

 

can anyone help me with what to write them please?

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You may get AP Markers against the account. Just to be clear i checked with a CRA about AP Markers and against a current account they would disappear 6 years from the Default / Settled Status.

Some would say they stay forever but that is only if they persist with the AP markers and dont default you. Its their policy that will define what they do. You may end up with a default anyway paying a reduced rate,

 

Check our library. Im pretty sure we have letters for this to reduce the amount paid.

Failing that i could help draft something but it would be for a few days... I have a stupid amount of interviews to go to :/

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Hi - I've been searching through the library and cannot find the letter I need, can anyone direct me to it please?

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debt collection section

offer of £XX for xxMTS

IF they freeze int and charges


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

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Hi, can anyone help me with a template at all - I've been all through the library and can't find it! .

 

Please help, I've just noticed they've record on my credit file that I am behind 2 months! I really can't get a default!

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Click the Debt Collection above in DX post...takes you to all the letters


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Sorry Andy and DX, didn't realise that was a link to the letters - thank you.

 

Just one other thing, would I be using the 2Ask Creditor to Accept Pro-Rata Payments **Correct as at October 2013**" letter or should it be "Request to make £1 token payments for X Months **Correct as at October 2013** " although the latter won't open?

 

I also want to ask them not to default me, as I am currently trying to re-mortgage or sell - to hopefully pay this off in full! it will make it impossible if they default me!

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Opens for me......you could use either......but I cant see you avoiding a default...at some point.


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mmm I will use the first one then. Should I add that I would like to request that they do not default this account and explain why? also I am still with the Halifax and use another current account with them, they can't move ay money from my other account into this one can they?

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I wouldn't...they would go a head and register just to spite .......offset is always an option to them depending how far down the debt path you run with it.


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Hi all,  ok not been back for a w while had a lot going on. but to catch up, I contact Halifax to explain that I was willing to make payment , thye asked me to complete an income and expenses form etc.  due to house selling issues I was having, I neglected to do this and the account got closed and passed to Wescott.

 

Wescott wrote a couple of times and I went to their website and made an arrangement to pay approx. 1 week ago.  one strange this is that all letters were addressed to my husband and none to me - (it was a joint account)

 

Anyway, the other day I checked my noddle credit report and found that halfax have registered a default, but I never got a default notice!

 

This can't be right - or is it different for overdrafts - any advice greatly appreciated!

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Why are you paying a DCA???

 


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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the account is not viewable online with the Halifax and they have told me they've passed it to Westcott

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Hi again,  well I decided not to make payment to Westcott, as I need to sort out the default.

 

Can Halifax register a default like that?  I have checked though all papers received and did not receive a default notice at all.  any advise please?

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but if they never sent a default notice then surely they cannot register the default and it should be removed?

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But you have defaulted as per your opening post re untenable charges...just because you didn't receive it does not mean you have not defaulted.

Ask them for a copy.

 

Andy


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ok but if they never sent it in the first place then that cannot be right.  I admit it is my fault that I wasn't able to pay them but it also their fault that their fees jumped from around £90- £100 per month to approx. £370!  and they quickly started reporting that I was not keeping up!

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If you had received it ?  Could you have paid the amount within 14 days ?


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well no, but it's not really the point

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Hi again, 

I don't want to bang on about it,

but I heard there were some changes to overdraft fees that they were switching from daily fees to monthly interest rate. 

 

Now as I explained before my fees went from £100 per month to £372 and I tried to come to an arrangement with the Halifax but they were not very helpful.

 

Now I do need to ask the question again regarding the default,

I just need to know if they should have sent a Default notice for an overdraft or does this only apply to credit cards? 

 

I am not asking if anything would have been different or if I would have paid it straight away if I had received a default notice.

 

I am going to do a SAR to Halifax anyway, but I would like to know if they should have sent a default notice.?

 

Thanks

 

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Yes they should...its not actually called a default notice...its a recall/demand/termination Notice.

 

Notice served under Sections 76(1) and 98(1) of the CCA1974

 


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

 

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

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