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Halifax offers to delete default, but gives another instead!


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History:

Halifax one card int 9.516%pa / 12 = 0.793%pm.

 

I paid in full on 27/03/06 at RBS, you received it on 28/03/06, result £25.00 late fee, but no default.

 

I phoned as to why i had been charged a late fee as i had paid it on the last day, i was immediatly offered a 50% reduction down to £12.50, which i refused, but never got any answer to why i get charged.

 

On 15/04/06 i was on vacation to Spain, expecting back on 26/04/06, unfortunately the car i was travelling broke-down on route to the airport, thus i missed my flight, the first available was 30/04/06, i got back and went into Halifax branch on the monday, it was closed later i was told it is a bank holiday on 01/05/06.

 

Later the same day i phoned to make a maestro/switch payment, only to be told we dont accept any card transactions over the phone, all we accept is a HBOS bank account, no problem, then big problem no phone banking is setup; anyway i was asked if i wanted to renew it, and i said no, anyway i was told even if we did accepted debit cards you may still be charged a late fee as it could take up to 3 days for the funds to transfer as `we must have the funds by that date on the statement', rather than `Payment is backdated to date when the customer paid it'.

 

After the phone call i had gone through my paper work and found that phone banking was setup on my Bank of Scotland high interest current account in April 2003 and i did not cancel it.

 

Also `we must have the funds (in our mits) by that date on the statement', looked at the contract terms, nope nothing (undefined), so `Payment is backdated to date when the customer paid it' can be inforced and no changes to terms have been sent in last two years.

 

Anyway i paid it on 05/05/06 at RBS, you received it on 08/05/06.

 

Later on the 05/05/06 evening, HCS phoned demanding at least £5.00 be paid now, i explained the phone call i made on the 01/05/06 and anyway it has already been paid in full, finally HCS told me i will have late penalty fee added to my account.

 

09/05/06 recieved statement dated 03/05/06.

193.61 + (13.14% / 12) = 2.12 = 195.73

Late fee £25.00.

Credit reference file's late payment blacklist history (11/06/06).

£9.42 cashback rebate from 04/04/06 not refunded before interest was applied, it also could have been used to pay the minimum payment (£5.00).

 

11/05/06 i sent my first letter to HCS.

 

Later i discovered that maestro/switch card payments can be used via Credit card internet banking, that no one from HCS or HBOS even bothered to tell me about existed.

 

31/05/06 i sent my second letter to HCS.

 

10/06/06 recieved statement dated 02/06/06.

211.31 - 193.61 = 17.70 + (16.3% / 12) = 0.24 = 17.94

12.50 refund: Not refunded before interest was applied or an additional refund of 0.169 (0.17) is required!

 

14/06/06 recieved a standard letter dated 16/05/06 from HCS offering a 50% reduction on the late fee.

15/06/06 CRF: [1]00000000000

.

12/07/06 recieved statement dated 04/07/06.

Congratulations you actually got the interest right for once at (0.793%).

It appears you forgot to add the 25.00 late fee as i did not pay anything or will.

 

There is currently £05.48 in arrears on my account this amount will not be paid, basically the card can go into charge-off, but i am still in dispute and still in control for the time being.

 

When i signed the contract in 2003, i did not understood the contract or much about UK law, basically it was this `if you want the card, sign the contract or if dont sign the contract, you dont get a card, also there is no negotiation'.

 

 

17/07/06 LBA sent.

New card with name Mr. X opposed to Mr. XXXXX as old one expired 31/03/06 and replacement had no arrived yet.

£25 refund plus interest from 05/05/06

Remove me from your junk mailing lists including credit card cheques

 

02/08/06 HCS offer: 9.42 + default removed + £50 compensation + removal from junk mail.

 

I made an error in my LBA `£25 refund plus interest from 05/05/06' that i had paid, however i failed to compute the other £25 that i did not pay, anyway i just reduced the compensation to account for it.

 

10/08/06 Statement dated 02/08/06, int -£0.04, balance -£5.52, no default or fee.

15/08/06 Ok i accept your offer!

 

11/09/06 Statement dated 04/09/06 balance = £59.38, that is £0.04 less than i expected.

12/09/06 Finally got the replacement card sent on 16/02/06, another world tour i expect!

13/09/06 New card name = Mr. XXXXX (unchanged).

 

I applied for a loan of £2000, at the rate 5.9%, best rate they could offer me was 16.7% that i declined.

 

18/10/06 CRF: [0]10100000000,Name change to Mr X.

06/12/06 Dispute of default accuracy, sent to Experian

============

The Definition of a Default:

A `default' can be said to occur as soon as a borrower fails to meet the terms of his or her credit arrangement, (and indeed, the Registrar is aware of lenders who institute debt collection activity within days of a payment being missed). However the adoption of this definition for credit referencing purposes would create difficulties since it is accepted that not all these defaults should be reported as such to an agency, for example where monthly payments are late but are quickly remedied. The term 'default' when recorded on a credit reference file should be used to refer to a serious default when "the relationship with the individual is deemed by the lender in a standard business relationship to have broken down.

http://tinyurl.com/y4xu8d

 

Since HCS has failed the described signed paper trail method as described

within the Consumer Credit Act 1974 - 2006 & Data Protection Act 1998,

any action that HCS may have proposed is now null and void!

 

Anyway another default cannot be applied to the account for a period of 6 months, so the maximum number of defaults that can be legally applied is 2 within every year.

 

This also includes any fees including interest and most importantly any

automated or manual default notice issued to Credit Reference Agency's is

also null and void and any defaults already issued should be removed within

7 days of the date of this notice.

 

Your data processors cannot go from an insignificant minor breach (missed

payment date) direct into default on the same day or month moreover at

least 3-6 months should have passed, before a default legally could be

authorised and then any late/default fees could be issued.

 

If you had followed the described signed paper trail method as described

within the Consumer Credit Act 1974 - 2006 & Data Protection Act 1998,

the most you could have expected was interest on the missed days.

 

Also the Credit Reference Agency's should by default automatically

(without the owner (me) issuing a dispute of default accuracy request),

check the validity of all incoming defaults by requesting the valid signed documents from

their data collectors, no documentation = no default had taken place, the default

must be removed, if the documents checks out, the default stays!

 

£2000 + 5.9% = 118 = 2118 / 12 = £176.50

£2000 +16.7% = 334 = 2334 / 12 = £194.50

 

The cost of defaults = based upon £2000 loan over 1 year is £216 / 12 = £18pm or 10.8% extra.

 

At this time i am considering requesting compensation for the defaults that seriously harmed my chances of obtaining a reasonable rate of interest!

Andrew

ASI Industries = As i in does tries!

 

As i in does tries!: My definition.

I will try, i may never succeed in the goal, but at least by trying i have a greater chance of success than never trying at all!

 My opinions are my own & occasionally may offend, but it is not my intention to cause offence in the first place!

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I forgot i also got £12.50 rebate on 02/08/06 offer to grand total of £25!

 

I have not been it touch since 15/08/06 as i have been ill, and expecting to send it to them by 11/12/06.

 

is there anything else i can add and please feel free to offer any suggestions or bug fixes.

Andrew

ASI Industries = As i in does tries!

 

As i in does tries!: My definition.

I will try, i may never succeed in the goal, but at least by trying i have a greater chance of success than never trying at all!

 My opinions are my own & occasionally may offend, but it is not my intention to cause offence in the first place!

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  • 5 months later...

Hi just an update the issue has now been corrected via Experian.

 

I gave Experian all the information back on 6th December and finally after 5 months my credit record is now clear no thanks to Halifax!

--

ASI Industries = As i in does tries!

Andrew

ASI Industries = As i in does tries!

 

As i in does tries!: My definition.

I will try, i may never succeed in the goal, but at least by trying i have a greater chance of success than never trying at all!

 My opinions are my own & occasionally may offend, but it is not my intention to cause offence in the first place!

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