Halifax current account/financial hardship rules...

[NUDDYDUST]

A quick poser if I may...

I came out of work sept 12 through illness, soon to be made redundant or finished on 'capability, currently remain off 'sick' & in receipt of ESA (which is going to end May 2014), now deemed 'disabled' and with no sign of return to work or resolve with my employer. I'm deeply into a 2k overdraft & I pay for the privilege of this account. Recently I've been informed - poss wrongly - that I can reclaim these 'charges' via 'financial hardship' regulations? Can anyone shed any light on this at all? Evidentially the bank have all they need given they have access to the in's & out's and the change of circumstance is apparent? Is it advisable I try and claim some costs back or does that open the option for them to foreclose the account?

Many thanks in advance...


A

[sloane82]

Re: Halifax current account/financial hardship rules...

Hi you have an overdraft of £2000 is it a packaged account?. do you have statements for the account?. If not get an SAR Subject Access
Request to get all the Statements for the Account have a look through the account and if there are any transactions that you are not sure about put a mark next to it have you had any credit cards or loans in the past claim for this back also overseas charges late payments gas and electricity also home and mobile phone charges tax rebate for the past 4 years see if you have overpaid on any taxes also that you are not working if you have a savings account claim back all 20% of taxes back get an R85 form and put into an ISA with the newcastle Building society big home saver ISA you dont pay any tax on an ISA and can put £15,000 into it.

[leclerc]

Re: Halifax current account/financial hardship rules...

A quick poser if I may...

I came out of work sept 12 through illness, soon to be made redundant or finished on 'capability, currently remain off 'sick' & in receipt of ESA (which is going to end May 2014), now deemed 'disabled' and with no sign of return to work or resolve with my employer. I'm deeply into a 2k overdraft & I pay for the privilege of this account. Recently I've been informed - poss wrongly - that I can reclaim these 'charges' via 'financial hardship' regulations? Can anyone shed any light on this at all? Evidentially the bank have all they need given they have access to the in's & out's and the change of circumstance is apparent? Is it advisable I try and claim some costs back or does that open the option for them to foreclose the account?

Many thanks in advance...


A

I do partially agree with what sloane82 has said in regards to what he has advised but I want to add one thing. You need to tell the bank that your circumstances have changed and that it happened in September. In regards to financial hardship, the bank only has to refund charges within that period of financial hardship to comply with the regulations but they do not have to even refund a penny of it.

The case on here was Oliver Foster-Burnell, so I'll give a shout to site team to explain that more as they are more knowledgeable on that part of the topic than I am

[sloane82]

Re: Halifax current account/financial hardship rules...

I do partially agree with what sloane82 has said in regards to what he has advised but I want to add one thing. You need to tell the bank that your circumstances have changed and that it happened in September. In regards to financial hardship, the bank only has to refund charges within that period of financial hardship to comply with the regulations but they do not have to even refund a penny of it.

The case on here was Oliver Foster-Burnell, so I'll give a shout to site team to explain that more as they are more knowledgeable on that part of the topic than I am

also write a letter to your bank and contact the financial ombudsman service also did you ever take out any loans or credit cards in the past. halifax are'nt the cheapest of banks and sting you with £1 a day charges have a separate account with the co-operative bank there quite a good bank as I have a £200 overdraft with them and if i'm in it for the whole month they only charge me £1.53 compared to £31.

[nemesis45]

Re: Halifax current account/financial hardship rules...

Looking back the OP has not posted for 8 months on this thread.

[NUDDYDUST]

Re: Halifax current account/financial hardship rules...

Thank you kindly for the post responses. The upshot has been I've now been 'finished' work wise, received a small pay-off which was used to wipe outstanding CC debts/bills etc. Currently - and quite horribly - I find myself in the Employment Support Allowance Support group. I've genuinely no idea when, if I'll get back into work. HALIFAX did, suspend bank charges, twice, the second phase of this ends in MARCH. In short, any idea what happens then, will I become liable again for monthly bank charges (approaching £50)? I did pay off a portion of my OD and lowered its limit. Other than that there's little else I can do. What I receive in benefits doesn't cover my outgoings, in short; there is no disposable income and until and IF circumstances change that's how it is...Many thanks

[nemesis45]

Re: Halifax current account/financial hardship rules...

Hi good to see you back!

It would be wise I think to keep Halifax fully appraised of your financial situation at all times.
Halifax certainly should not make a bad situation worse, it cannot have what you not, and should also
take note of the effort you have already made to deal with the account.

Best wishes & good luck.

nem

[sloane82]

Re: Halifax current account/financial hardship rules...

how much of an overdraft do you have?. And you said that you had paid your credit Cards off. Get an SAR Subject Access request and check to see if you had any PPI on your credit cards any late payments etc claim them back also was your account a packaged one?. If So claim all that back have you always been with the Halifax?. Also have you had any loans etc also claim back charges from your Gas Electricity Mobile and home phone. Also overseas charges. From ebay and Paypal do the reclaiming of charges through the FOS Financial Ombudsman Service. What made you go with the Halifax

[NUDDYDUST]

Re: Halifax current account/financial hardship rules...

Never had anything with the HFAX aside from a credit card many years ago. (paid off) To be honest I only got a current account about 4 years ago, odd I know. I've banked with them for 20 odd years. The current OD is 1750 which, basically, is at limit. It was 2250 but I shortened it about three months ago. Intended doing so further but just couldn't. Curious how they're gonna play it come MARCH or whenever. Paying the charges, should they reinstate them, is gonna be a nightmare whilst I remain on this benefit. And, simply, I just don't know when or if I can go back into work at any point.

FOR I claimed the bank charges back off them, without challenge from their end, in the summer.

[NUDDYDUST]

Re: Halifax current account/financial hardship rules...

Morning...in addition to the above, HALIFAX have now informed me that I have 60 days to either pay off the overdraft or the account will be closed. Something tells me I'm being misinformed by them somehow as their information has, at times, been conflicting. The overdraft stands at 1750. It is at limit. I get my ESA paid into this account and until (if) I get back to work in the future my financial circumstances remain the same and won't be subject to change. In short, there is no disposable income. I've been honest with my bank from the start of my ill health'. They've also mentioned that post closing they may pursue the overdraft via an outside agency. I've offered them/propsed a £10 pm token payment to come off the balance. They say this won't suffice and that after 60 days they'll still close the account. ?!?!?!?!

They've applied 'CONTROL' on account twice (total of twelve months) and have frozen charges within the 60 day period also.

Any advice. Can they simply 'close' an account that has benefit paid into it?

In advance, thanks...

[nemesis45]

Re: Halifax current account/financial hardship rules...

Personally I would be looking for a " parachute " account so you can get your benefit paid into it.
The closure is most probably part of the T's & C's.

nem

[sdg66]

Re: Halifax current account/financial hardship rules...

hi sorry was reading

- - - Updated - - -

im also with halifax on benefit and up to my limit
they take my benefit to pay monthly fees

[leclerc]

Re: Halifax current account/financial hardship rules...

hi sorry was reading

- - - Updated - - -

im also with halifax on benefit and up to my limit
they take my benefit to pay monthly fees

SDG, do you pay a monthly fee for the account which includes accounts extras? Or were the fees for direct debits/standing orders being returned unpaid?

[sloane82]

Re: Halifax current account/financial hardship rules...

First of all open a separate account then contact the FOS Financial Ombudsman Service and make a complaint to Halifax Bank.