Flaura V Halifax (£ + defaults)

[Flaura]

Jonni

 

Wanted to ask your advise on the removal of defaults. I walked away form my accounts and left them at the maximum overdrawn. i paid in what i could afford each and every month but the interest they charged me was over and above what i could afford to pay in so the debt actually grew although i was paying it back because of the interest they were charging. ? i walked away because i also had a loan and they were taking money from my current acouunt towards the loan willy nilly and theefore not leaving me no money in my current account to pay for things then they'd charge me i'd put money in they'd transfer it to my loan which wouldn't go out as they'd emptied my account to my loan and charge me etc etc ..

 

can i get the defaults removed ? :?

[jonni2bad]

The most important thing to consider in this scenario is the level of charges at the exact point the default was issued.

 

Look to the date of default - when and how much for?

AT THAT DATE, the charges total (including, if you can work it out, any overdraft interest that had been caused solely by those charges).

 

Once we know that, we can advise on the next step.

 

Also, if you don't mind answering on forum, did you have any other defaults around that time?

 

You did very much the same thing as me in walking away from it, it really helped me to start from scratch. Are you still paying this off? Are they still charging interest?

[Flaura]

Account A

 

debt was £-100 from Feb 2004. defaulted me for £156.00 on 11 07 2005 total charges £106 charges £126.44 in interest to date

They gave me back 46 quid in interest in september last year still don't know why ?

current balance is £0.00 tried to close

 

Account B

 

Debt was £499.99 in Feb 2004 .. defaulted me for £570 on 27 12 2004 charges to that date were £996.28 and £23.28 in interest.

 

current balance is £352.04

 

Loan debt was £13657.00 on defaulted me on 17 Feb 2004 charges were £150.00

 

current balance is £6930.26

 

I had one other default on my MBNA card limit was £1500 defaulted me for £1575.00 on 29 10 2004 charges were £475.00 to that date

 

current balance is £356.05 when MBNA pay back the £475.00

 

I paid in each and every month since i walked away on a debt managemen plan. not charging interest any more on any of my debts light is at the end of the tunnel i am still but paying it back ...but shoul be debt free in 14 months ..!

 

Let me know what you think

[jonni2bad]

Account A - 68% of the default was in relation to charges.

 

This is quite possibly worth a challenge in court. Have you ever tried to work out the overdraft interest that was caused by charges on this account? Any more could help us to sway the balance even more in our favour. I would guess that every extra £2 or so would increase that percentage by 1 point. Don't be confused by 8% interest on those charges.

 

Account B - Definitely. Every single penny of the default is made up from charges. Have you always included text in your letters that you wanted the default removed, or not yet referred to it?

 

Loan Account - I'm afraid that this one looks likely to stand, unless they failed to notify you correctly etc, or another anomaly

[DazNorthants]

From my (very limited to date) experience with recovering defaults, I think it is worth asking for copy of default notice. It appears most banks (or recovery agents) issue defaults like confetti and forget the correct procedure. I have just found Amex didn't with me so worth asking.

[Flaura]

Cheers Jonni

 

I'll have a scout about on Account "A" see what i can drag up .. i've always mentioned the Default part.. just in case.. kinda knew i wouldn't get away with it on the loan but thought i'd get proper advise from you before pursuing it ..

 

overdraft interest on the statements how would it show ? or should i be looking for interest they charged me in my overdraft when i went in because of a charge.. it was only a secondry account i used for most of my DD's ..did out of interest challenge the defaults at the time they issued them as i stated that i felt they had mishandled my accounts and that is why i had defaulted however i don't have copies of all the letters..

 

for want of a better expression i "lost it" after my finances went to pot and destroyed lots of paperwork.. ! wish i hadn't now..!

 

Thanks for all your help on this ..i'll let you know how i get on with the interest part.. ?

 

cheers !

[jonni2bad]

The overdraft interest can be tricky but if, for example, the amount of charges totalled 70% of your overdraft in any particular month, then I'm sure it is fair to assume that 70% of the overdraft interest is reclaimable and should be included.

 

Also worth bearing in mind is the total level of charges - if in any month you can show that had it not been for the previous £xxx in charges, you would not even have been overdrawn, then surely 100% of the overdraft interest is reclaimable and will count towards the magical 100% of the default figure that we are looking for.

 

Is that confusing enough?

 

Some of Vamp's spreadsheets help to show this.

[Flaura]

received letter from halifax offering me £95.00 ! yeah yeah yeah see you in court boys.

[Flaura]

Filing claim in court tomorrow - for £1049 + Interest Charged + 8%

+ removal of two defaults as a result of the charges.

 

should have money in my pocket soon ! and hopefully a cleaner credit record. ;-)

[Flaura]

retract that one i'm skint have to wait till pay day to file it !

[Flaura]

This topic was closed on 11 March 2019.

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