default notice received.

[mr green]

Hello all, My son has just received a default notice from the Falihax. It relates toa personal loan he took out in July, 2005. He has late with a number of payments in the last three months and as a result has racked up some six lots of £39.00 charges. I have sent in a claim for the return of those only on Thursday last and then on Friday he gets the Default notice. They are requiring repayment of the remaining amount of loan which is about £1600. by the 6th of June otherwise they will register a default at the Credit reference agencies.

My question is 1. What effect does this have on him in future if the do register the default. ( Its never happened to me so I dont really know what to tell him). 2. I am in a position to pay this off for him and then he can repay me monthly instead therefore there will be no further hasssle from them, but is this the best way to go about it.

We would appreciate some advice prior to the 6th June, Thanking you in anticipation.

[jowalshy]

Hi there, the info below is regarding default notices.

 

What is a Default Notice?

 

 

Introduction

 

A Default notice is simply a record placed on your file by creditors stating that you have been in default in some way. Such notices may have been placed without your knowledge and despite a subsequent remedy to the default.

Under the terms of your credit agreement you will probably have agreed that the lender has the right to inform the credit agencies of any default.

If you need to check your credit files check out Repair Your Credit History for the standard letters to send to the major credit reference agencies.

Unlike the procedures for the Removal of CCJ’s you cannot have a default notice removed without the consent of the relevant creditor/lending institution.

In this section you will find all the procedures and correspondence to help you arrange the removal of the notice.

 

The willingness of the lending institution will depend on whether any of the following situations apply to you:

 

• The default notice was served but payments have now been brought up-to- date
  
• The loan has now been fully repaid
  
• Payments are still in default but a repayment schedule has been agreed or you wish to agree a revised repayment schedule
  
• You disagree with the default notice, and it has been placed on your file incorrectly
  
• You may have unknowingly fallen behind on a Mail Order company account. Most Mail Order companies do not send out reminders and may have terminated the account as a bad debt

I hope that this answers your question.

[mr green]

Thank you very much Jowalshy for your information. It looks like the best course of action is to pay off the outstanding loan BEFORE they notify the credit agencies, thereby not having any more charges, telephone calls at all hours of the day and evening. If anyone thinks otherwise please let me know.

[mr green]

Further to last message, should I consider closing the account with Halifax and changing to another bane, OR are all the banks and institutions much the same. Has anyone got any good or bad experiences of changing banks and can they recommend any one in particular?????????????????

[mr green]

Hello again,

I have paid off the loan with the Halifax but on reading through this forum it would seem that there may have been charges applied to the loan for the times I was late paying it in and for which the Halifax charged me £39 each time, is there any way I can find out what unnecessary charges were applied and can I claim them back now.

In today post I received a letter from Halifax re my second claim for charges on my account and it waffles on that They advised me that all future charges would stand and they refuse any refund.Well we'll just see about that! There are two weeks to go before I send off the Letter Before Action

Any advice please re charges on the loan?????????????

[sea-sidelady]

You will need your SAR for the loan, than claim as you have done on other claims.

[mr green]

Thank you Sea side lady, I have looked at the S A R but they seem to be requesting bank statements. Is there another SAR especially for loans. I realise the charges were for late payments of the direct debits which were going to pay off the loan, but on top of those would the bank have applied charges to the loan for non receipt of the monthly payments even though they got them later than agreed. You see, I dont know if I was charged extra on the actual loan. I do hope you can see what I am getting at.

[moneyhelp]

Can you not edit it to fit your needs?

[mr green]

Yes I can have a go but is it likely that I have been charged excessively for not paying on time over and above the charges imposed by them on the late direct debits

[mr green]

I have sent off my letter before action and time is up today and had no response from halifax In the meantime there have been more charges notified to the account which do not show on the schedule I submitted to them 14 days ago. What I would like to know is can I just ADD these new charges to the schedule I am preparing for Court without having to go through the LBA scenario again

[moneyhelp]

Yes - add them.

[mr green]

Thank you Moneyhelp for the quick reply.I'll see if there is a reply from Halifax in the morning post, if not , it's off to Court we go.

[moneyhelp]

Good luck Mr G

[mr green]

Yes thank you, I've been reading your saga, so good luck to you too, you deserve it, NIL CARBURUNDUM, or words to that effect.

[Dusary]

Don't expect replies by return of post.

 

HBOSplc just doesn't work that way. They seem to think that if the delay and prevaricate long enough - then we'll go away.

 

We won't!

[mr green]

Well I have just sat down to complete the Court form and I cant seem to get it to work. I can get the template up showing the blue Court form but I thought I could fill in the template and it would transfer to the actual court form without having to type out all the stuff on the form. No matter how I try to do it it just will not let me type onto the template, anyone with advice as to what I am doing wrong

[**Tilly**]

are you doing n1 or mcol

[moneyhelp]

If it's N1 I had this trouble - put you cursor UNDER where you think you would type. Plus at the top right hand side it says highlight fields - click that too.

 

I had a terrible time when I first did mine. Any other worries just post here.

[mr green]

Thank you again Moneyhelp. That worked ok. I have now completed forms and schedule ready to take to Court AM tomorrow. The last charge was applied to the account today, thats why I have left it until now to do it. It is very frustrating when you are not very computor savvy and only use two fingers to type and other things seem more important. However I have persisted and done it and in no small way thanks to this excellent site and its members

[moneyhelp]

Well done Mr G - now go get them and keep us posted.

 

Any worries just shout