Default on disputed account

[ken100464]

Re: Default on disputed account

umm... i wonder if they know this is exactly what some people will be treading carefully over and use this as their ace card. wouldn't like to play the tw@ts in poker thats for sure!

Presume they have access to the CRA's. If they can work out they are the only one not to have defaulted then agree in time this will start to grow as a bloody great big stick to beat the debtor with.

Very unusual tactic and very different.

[ken100464]

Re: Default on disputed account

yeah its weird. most companies within 6months to 12 months were chasing bigger payment, threatening defaults, selling debts on, but Halifax just kept piling on loads of interest

eventually, I thought enough is enough so instead of £100 a month I reduced payments to about £15, they then stopped adding interest (of around 90 a month) so the debt begun to come down, but very slowly....something like 30 years to pay!

even now they haven't got to the stage others got to in 6 months. They certainly have had and if I settled at even 50% will have far more in % terms than any of my other creditors

guess they play the long game!

I found that when they were doing this they had you on AP markers which we all know are just as bad as defaults at the moment.

But in our case crucially they kept on going onto full payment after 6 months. We would squeal they would reinstate the AP and off we go again. But there isnt the string of AP's which you could beat them with to the ICO.

It did seem a definite strategy and as the OP says it has resulted in a much bigger % take and a much sooner settlement than the others.