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  • #1

    Halifax Default now with Iqor

    Hello,

    In February of 2010 I got into debt problems with Halifax after I lost my job and ended up with an overdraft of £4500 that I couldn’t pay and the debt became defaulted. I moved house shortly afterwards and stupidly decided to ignore it. I got a couple of letters from Wescot last year which I didn’t doing anything about and last week I received a letter from Halifax saying that the debt had been passed to Iqor. Yesterday I received a letter from Iqor (from the same address on the envelope as the Halifax letter!) stating they were now looking after the debt and how would I like to pay.

    I have checked my three credit files and the only default I have is with Halifax dated August 2010 for the £4500. All my other accounts are up to date, settled etc.

    Could anyone help me with my options please?

    I can try and raise the funds to pay back the debt but should I go direct to Halifax or to Iqor? Iqor state in their letter that if I do got to Halifax they will refer me straight back to Iqor. Should I ask them to send me a letter stating that the debt will be marked as satisfied with the CRA’s once payment has been made?

    I understand my other options are just to leave it for three years and hope the default falls of the system but then I am risking possibility of CCJ and further action which my wife and I find distressing.

    Alternatively could I try and make an offer of partial payment as full and final settlement. My friends suggested I do this but I don’t know the legality of the situation. Iqor do mention if I ring them they could offer a “substantial discount”. My biggest worry would be what would happen about the default with the CRA's. Once paid would this be marked as fully satisfied as I read somewhere previously that this does not occur when only partially satisfying debts? Could I ask them to state in writing that it will be marked as fully satisfied and if they did that do they have any authority as wouldn’t it be Halifax who have to instruct the CRA’s to change the entry?

    I am really not sure what to do. I would like to get a house one day and want to get this sorted but not sure best course of action.

    Any help would we much appreciated.
    Tags: accounts, action, advice, ccj, con, credit, debt, debts, default, defaulted, depression, friends, full and final, halifax, hbos, help, home, home owners, interest, job, letters, lost, mat, offers, overdraft, problems, questions, small, stay, threats
  • #2
    Re: Halifax Default now with Iqor

    Notice this is duplicated from here --> Halifax Default now with Iqor - MoneySavingExpert.com Forums



    Ok, regards your questions above; why don't you just leave it and see what they do? I presume you're renting and not home owners? if so then they won't do much, but for the same respect I wouldn't go in with silly offers at this stage - it's 3 years old already so why not see what happens...?

    I presume you've not replied to any letters? Then carry on as you have been, if any serious threats come then give us a shout and then we can look to help you settle but right now, settling won't do that much as the defaulted entry will remain regardless (for the 6 years).

    I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

    If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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    • #3
      Re: Halifax Default now with Iqor

      Thanks, yes thought I'd post it on their as well.

      Thanks for your advice, I see the sense in doing that. My issue is that my wife is suffering very bad depression and hates any debt correspondence. My mother has offered to pay the debt for us and then I will come to an arrangment with her.

      What would be the chances if I left it going to the CCJ stage? I haven't responded at all to any previous letters btw?

      May thanks

      Comment

      • #4
        Re: Halifax Default now with Iqor

        It's unlikely you'll get a CCJ - why not just sit tight and if they get heavy then give us a shout, in the meantime the monies you are prepared to spend each month in an agreement - save it direct and then we could look to help make a F&F offer later down the line, this could get you settlement at around 20% of the debt balance - so even that's worth a gamble right now, surely?
        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

        If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

        Comment

        • #5
          Re: Halifax Default now with Iqor

          Yes I'll do that, thanks very much for your help much appreciated.

          Out of interest why wouldn't they try and get a CCJ. It's not like it's a little amount it's £4.5k?

          Comment

          • #6
            Re: Halifax Default now with Iqor

            Originally posted by JohnS View Post
            Yes I'll do that, thanks very much for your help much appreciated.

            Out of interest why wouldn't they try and get a CCJ. It's not like it's a little amount it's £4.5k?
            £4.5k is a very small amount....

            Because HBOS themselves don't apply for action that often, and if they were that bothered they'd have done it already - but no matter, if they get heavy at that point you can then make a suitable offer to settle or whatever.

            Best you stay in control as opposed to them, no..?
            I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

            If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

            Comment

            • #7
              Re: Halifax Default now with Iqor

              Great, thanks very much for all your help.

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