Credit card advice for escalating interest charges

[Warwick65]

I did not know until very recently I could take my complaints about the way Halifax have totally pushed me into a place where I have ended up in debt

One of the problems with following the irresponsible lending route is that you have to actually acknowledge the debt . This is an old debt isn't it, on here we try to follow the unenforceable and statute barred route which is proven (ask my creditors and £40,000 of debt).

[Maxsgirl]

Thanks

[Maxsgirl]

Regards the Bank Account, I think it should be done now as I have had my income moved to another bank so the account is open on condition that a certain amount is paid in every month & a minimum amount of D/Ds paid from it. At the moment there is a debit of approx £800 of a -£1000 overdraft. I would struggle to pay that to close the account straightaway, so they will be chasing me for that next.

Is there a Template letter I can use can use for Mis-sold Bank Account. Should I do it now or wait until they make contact when they realise weekly/monthly payments are not going in & outgoing DDs aren’t going out either.
Also can Link Fin take money from my overdraft on the Current Acc with Halifax

[nightwatch]

I did mine through " Resolver" on the martin lewis web site,

Link cannot take any money from any bank acount without you settingup a repayment plan with them, as you haven't done that they get no money.

[Maxsgirl]

Thank you, I just want to know then I can pay amounts off the overdraft without being worried about them taking money from it, then I can close the account if Halifax don’t do it first when they realise nothing is coming in.

[Maxsgirl]

I have just printed out a ton of monthly statements back to 2012 before they do close it off,

[nanna58]

Hi there, seems easier said than done. ,but please try to calm down and be guided by our lovely team ,take a deep breath .I know these things are very scarry
we will help you .all the best xxxxx

[Maxsgirl]

Hi there, seems easier said than done. ,but please try to calm down and be guided by our lovely team ,take a deep breath .I know these things are very scarry
we will help you .all the best xxxxx

Thank you, believe me I am trying to keep calm but you just can’t get it out of your head, it’s there from the minute you wake to when you go to sleep, that’s if I even get through the night. You asked for a copy of CCA & I had trouble sending so don’t know if you got it. What happens after you receive it?
There is no doubt that trying to resolve it on your own is not a good idea. Like the person posting in 6 years on, every word is true. The Bank don’t want to help you sort it out they give you high limits which is way above what you can afford without checking that you can afford or in my case I didn’t realise they had until most of it had been used by interest added on. Because I was going through cancer treat everything basically got neglected. I just paid the minimum payments plus whatever I calculated I had spent that month. They won’t negotiate a solution but the irony is the eventual sell your debt on for a pittance. My good credit rating is also now in tatters but I don’t need credit but it hurts when you have always lived within your limits.

[The Tech Clerk]

your situation is quite similar to many of us in the past, so nothing new there BUT we had to get on with it, luckily there is assistance here which many of us in early 2000s never had so we learnt from mistakes and experiances, as Nanna says try and focus we know it is difficult but time on we got thru it and with help achieved things thought impossible BUT did achieve, in fact once faced up and got control of situations a breath of fresh air and the morons who pester you learn you are not to be walked over, AS Said your situation is not much different as to what we went through and some still are - so chin up and lets get back onto the road of faith and achievement = You for it??? you will be surprised once faith sets in!

[Maxsgirl]

Thank you, the day I made the decision not to make any more payments was the day I decided I would not be be bullied into paying more & more & not getting anywhere. They have already had big chunk of my money & whatever I have to do to achieve that I will have to do. It’s just I have never been that person who hides behind the door or scared to answer the phone, because I have never been in debt like this before. So yes, I’m all in & fully committed to see this to the end

[The Tech Clerk]

Well done upward & forwards.

[Joanna Connolly Solicitors]

I just want to know then I can pay amounts off the overdraft without being worried about them taking money from it, then I can close the account if Halifax don’t do it first when they realise nothing is coming in.

Hello Maxsgirl

I've read back through your thread and I can see that only your Halifax credit card was assigned to Link Financial (correct me if I've misunderstood) not the overdraft on your current account.

I can also see that you have issues with Halifax over your current account but it's not clear whether you have exceeded your arranged overdraft facility hence all those charges etc.

You've decided to stop paying money into the overdraft because you've opened a current account elsewhere to preserve your income so you can live.

Has the overdraft facility been cancelled and/or the account closed or maybe you've been sent a Formal Demand or similar?

You may not be aware but overdrafts are also covered by s78 Consumer Credit Act so you can send the Halifax the forum CCA Request Template here > https://all-about-debt.co.uk/forum/d...94#post1245194

If Halifax can't comply with your CCA Request within the statutory time-frame, then the debt becomes unenforceable.

I think you may have started a complaint about the bank charges and misselling etc, but that won't conflict with your CCA Request.

Jo explains the recent court ruling on s78 CCA and overdrafts here >

The claim against our clients in this case was for monies owing under a personal Current Account Overdraft. We lost at first instance before a District Judge in Peterborough County Court and appealed the decision before HHJ Walden-Smith sitting at Cambridge County Court.

The Appeal was successful yesterday. This is an important case because it confirms that consumers using the unenforceability provisions of the Consumer Credit Act 1974 can successfully defend claims for personal Current Account Overdrafts in court. In this instant case the Appeal court found the personal Current Account Overdraft agreement to be unenforceable pursuant to the Consumer Credit Act because of lack of evidence of compliance with the requirements of the OFT determination.

It was also accepted that Creditors must comply with S 78 Consumer Credit Act 1974 requests relating to personal Current Account Overdrafts, not just credit cards and loans. In this case the Appeal court did find that MFS Portfolio Ltd had complied with the S 78 Consumer Credit Act request. If they hadn’t complied with the statutory request then the personal Current Account Overdraft would have been unenforceable pursuant to s.78 (6) (a) Consumer Credit Act , which is contrary to the position creditors normally take.

Update your thread on both Halifax and Link, and we'll take it from there.

Di

[Maxsgirl]

Hello Maxsgirl

I've read back through your thread and I can see that only your Halifax credit card was assigned to Link Financial (correct me if I've misunderstood) not the overdraft on your current account.

I can also see that you have issues with Halifax over your current account but it's not clear whether you have exceeded your arranged overdraft facility hence all those charges etc.

You've decided to stop paying money into the overdraft because you've opened a current account elsewhere to preserve your income so you can live.

Has the overdraft facility been cancelled and/or the account closed or maybe you've been sent a Formal Demand or similar?

You may not be aware but overdrafts are also covered by s78 Consumer Credit Act so you can send the Halifax the forum CCA Request Template here > https://all-about-debt.co.uk/forum/d...94#post1245194

If Halifax can't comply with your CCA Request within the statutory time-frame, then the debt becomes unenforceable.

I think you may have started a complaint about the bank charges and misselling etc, but that won't conflict with your CCA Request.

Jo explains the recent court ruling on s78 CCA and overdrafts here >



Update your thread on both Halifax and Link, and we'll take it from there.

Di

Hi in reply to your message, I am still receiving letters & phone call (not answering) from Link Re Credit Card approx once a week. They have also just done a search on my Credit Rating, 31/01/20 it says underneath “Affordability”

Regarding Bank Account +overdraft at Halifax at the moment I am just paying in enough to cover Monthly Charge & Interest. I sent a claim through Resolver but it was rejected by the Halifax. I am going to start a Complaint today with the Ombudsman, I am just worried that they will take action against me in the meantime as I have had 2 emails requesting to to phone to make arrangements to pay off my Overdraft.
Can they take any action like court order, selling on to a Company like Link once I have started complaint with Ombudsman? I am not using the account except to pay in enough to cover charges to ensure I don’t go over my limit. I see I need to do something about it it appears banks are due to starting charging rates of about 40% in April. My overdraft is hovering around £950 of £1000 overdraft.
would appreciate any advice

[Maxsgirl]

Hi in reply to your message, I am still receiving letters & phone call (not answering) from Link Re Credit Card approx once a week. They have also just done a search on my Credit Rating, 31/01/20 it says underneath “Affordability”

Regarding Bank Account +overdraft at Halifax at the moment I am just paying in enough to cover Monthly Charge & Interest. I sent a claim through but it was rejected by the Halifax. I am going to start a Complaint today with the Ombudsman, I am just worried that they will take action against me in the meantime as I have had 2 emails requesting to to phone to make arrangements to pay off my Overdraft.
Can they take any action like court order, selling on to a Company like Link once I have started complaint with Ombudsman? I am not using the account except to pay in enough to cover charges to ensure I don’t go over my limit. I see I need to do something about it it appears banks are due to starting charging rates of about 40% in April. My overdraft is hovering around £950 of £1000 overdraft.
would appreciate any advice

I have just read through the letter from Halifax regarding my Complaint about my Bank account & it states that:
1 if I haven’t changed to another account within 60 days they will assume that I accept the existing Account is suitable for my needs
2 If I want to proceed to Omsbudman I have 6 months or they will not give their permission