my overdraft is being cancelled

[tinkerbell_2k12]

I'm a tad bit worried I got a letter saying my overdraft is being cancelled as of the begining of next month and it needs repaid in full before then.

I've been near the top limit of the overdraft since I became unemployed bout a year ago I just didn't have the money to pay it back at that point, I've kept up with the overdraft charges to avoid them recalling it back in full because I.don't have that type of money living in income support, I rang them today to try arrange a repayment plan but they said there's nothing they can do till I've defaulted when they have removed the overdraft, the person did how ever remove any further charges being added to the debt for 6 months.

How easy will it be arranging a affordable repayment plan with them once it's defaulted, and why wouldnt they help me before the overdrafts removed?

[tinkerbell_2k12]

I've been so stupid I should if tried to come to an arrangement when I first became unemployed

[AndyOrch]

Have you been sent the Recall/ Demand/Termination Notice (Notice served under Sections 76(1) and 98(1) of the CCA1974 ?

 

Regards

 

Andy

[tinkerbell_2k12]

No was just a letter saying as of the 2nd November the account needs to be back in credit as the planned overdraft is being removed

The bank said they couldn't come to any form of arrangement with me till the overdraft has been removed

[AndyOrch]

Does the letter invite you to propose a repayment plan within a given period? By law they should... before issuing the above Notice.

[tinkerbell_2k12]

It didn't suggest me to make an offer of repayment it just said the account needs to be back in credit by the 2nd of November, when I rang the bank they informed me they couldnt come to any arrangement with me till the overdraft was removed

[AndyOrch]

If you are currently having your benefits paid into that account I would advocate opening a new current account (different bank unconnected) and transfer everything before November...isolate the account.

Then wait for them to issue the Notice served under Sections 76(1) and 98(1) of the CCA1974.

 

You cant default on an Overdraft...you either service it by depositing funds or they recall it and terminate it.

[tinkerbell_2k12]

Thanks for the advice, I moved my benefits when I become unemployed cos it was getting swallowed into my overdraft I've moved my direct debits from that account today too.They advised me to call them back on the 4th of November to see what they can do for me, are Halifax easy to deal with when it comes to repaying debts?

[AndyOrch]

None of them are...but lets play them at their own game:wink:

[tinkerbell_2k12]

My new accounts natwest they aren't linked are they?

[sequenci]

My new accounts natwest they aren't linked are they?

 

No, they are different organisations. You are good to go!

[tinkerbell_2k12]

No, they are different organisations. You are good to go!

 

That's great, thanks

[tinkerbell_2k12]

Im starting to get fed up if halifaxs appalling customer service, I've rang them numberous times trying to arrange a repayment plan and all I keep getting is that's not possisble till ur account hits collections. So my overdraft should of been taken away on the 2nd and it hasn't apparently it will happen tonight and I've got to allow them 3 extra days for it to be passed to collections. How much of a hassle is it to sort it out before it had even hit collections, the customer service is rubbish. Then to top it off when I was in their bank today using their phone to ring them the woman in the bank asked if I could go get an overdraft else where to pay halifaxs off I don't know what part of I'm now on income support and can't afford another overdraft she didn't understand......sorry for the rant but I'm shocked how hard they are to deal with

[sequenci]

Hi there.

 

You're really better off negotiating in writing, I'm certainly you'll get a much better response from them by doing it that way. Also, you can keep copies of the correspondance

[tinkerbell_2k12]

Hi there.

 

You're really better off negotiating in writing, I'm certainly you'll get a much better response from them by doing it that way. Also, you can keep copies of the correspondance

 

Thanks I think I'll get a letter wrote up and sent off today, I just think they're customer service isn't up to much especially when your genuinely trying to sort the problem out

[sequenci]

I think the majority of bank call centres are terrible when it comes to customber service. The fact they state that they cannot help until it gets to collections is ridiculous!

[tinkerbell_2k12]

The staff in the bank aren't that useful either they just agree no help can be given until it gets to collections, so I've just got to wait around for another 3 days then ring them again to see if theyre willing to come to an arrangement.

[tinkerbell_2k12]

I just thought id give a quick update, I rang Halifax this morning they've agreed to put my overdraft back onto my account and freeze all charges for 6 months so it gives me time to pay some of the overdraft off, the charges will be reviewed in 6 months. Can't complain at that outcome I suppose

[sequenci]

Oh that's positive.