halifax bank HELP ,Had the call.....got ACCEPTED

[worryhead]

Hi, i hope someone can help as i feel desparate, i have my creditors meeting on 25th march for 12 different creditors, i closed my TSB account as they are one of my creditors and kepy Halifax open beacause as far as i was aware i owed them nothing, I had a £250 overdraft with Halifax, which i was canceling on tue once i got paid as i owed £91. i checked my account online today and they have alraedy taken the overdraft of me leaving me £91 overdrawn. and also it says enquuiry only all over my standing orders and direct debits so i can not alter them, it also says it is enquiry only due to my account being closed, closing or restricted access. This confused me so i got my debts out and on my AQUA credit card it says part of Halifax PLC.....i did not know, do you think this means there closing my account, i have had no letter to tell me anything, and when i called to query 4 times today, no one could tell me why as it had gone to a company called Blair Oliver and Scot. They did this on the 19th March but no one knows at Halifax why. The last letter i got said my overdraft would be reviewed in nov 2008 so why has this happened?? any ideas, i am so stressed, everything is going wrong this week, but thats another story [xx(]

[Adam Davies]

Hi
It looks like your Aqua credit card is part of the Halifax and as they know that you have proposed an IVA they are closing all accounts associated with the Halifax.
The problem is that you are paid on Tuesday into this account and the bank could use these funds against your credit card debt[this is allowed].However if the account has been closed the credit should bounce back to your employer
I suggest that you go into a branch on Tuesday and withdraw all your money if you can,then look to open a non creditor account.
Try the Co-op Cashminder
For anyone reading this contemplating an IVA,make sure that you open a new account with a non creditor.Banks have a right to offset debt by using funds from any account that is held with the bank,often trading under a completely different name
Regards

[worryhead]

That is what i am afraid of, obviously it is bank holidays so i am stressing like mad, i have alsorts of debts to pay and if my £900 goes in can they take the full amount and leave me with nothing? i need to pay for my IVA the same day and also have direct debits coming out all over, cant beleive they can do this, what would i do to live on for the month. feel so sick with worry now.

[Storm]

How much is the credit card debt ??

[Adam Davies]

Hi
If the worst happens then your IP would allow you to start paying your IVA a month later.You could also put forward a hardship case to the Halifax
Regards

[worryhead]

i owe them £1600 in total on this card. I cant belive this is happening, i am so sick of being broke and this is making things worse, i am seriously thinking of bancrupcy now. I have no assets just a car worth £695, do you think if i speak to my IP he would stop the creditors meeting and file for bancrupcy? this has just made me so sick, upset and mad that this is happening. really feel like its the end of the world, just when i thought things where looking up [xx(] i never want credit again, its a hard lesson to learn[:(]

[Adam Davies]

Hi
Try to stop worrying,easier said than done I know,go into the branh on Tuesday and ask for your money out.
Technically you will not at that point be in an IVA so you have every chance of being able to get the money out.It could well be that the credit will just be returned to your employer and you can have it paid into another bank.
Regards

[chris.g]

Try not to worry, hopefully your wages will have been returned to your employer. You will need to get another account sorted and the cashminder is a really good one if co-op isn't one of your creditors. I'm surprised your IP didn't make you aware of this and advise you to open another bank account earlier though.

[worryhead]

thanks, do you think there is a possibility if i can borrow the money to bring me into nil balance with them tomorrow they would let me go in and close my account? they could not possibly refuse could they, at least that way it would bounce back to my employer wouldnt it? i know i am clutching at straws but i need to sort this.

[Adam Davies]

Hi
Did you go in today ?

[worryhead]

Hi Andy, yes i went in and got them to close my account, they said nothing will go in or come out now and the woman printed me a letter saying my account is closed today, i went to abbey to get a basic account and was turned down [:(] Just applied online for co-op account and RBS to see if one says yes, fingers crossed, my IP needs money asap but dont know how long it will take for my wages to bounce and another account set up.

[chris.g]

Worryhead, I'm pleased you seem to have it under control. The only thing is I don't think you can apply online for the cashminder with the co-op. You will need to phone up to apply or call into the branch. We made the same mistake and applied online and it was their current account I had applied for. We got a letter about a week later declining our application. We applied in branch and got the account set up within 2 days.

[Skippy]

Which Co-op account have you applied for? As far as I'm aware the Cashminder can only be applied for in a branch or on the phone. They might open a 'normal' current account, but if they don't it would be worth giving them a call and applying for the Cashminder account.

[Adam Davies]

Hi
As others have said you need to phone the Co-op bank,you could always set up a 'Think' bank account,you will get accepted but there is a £12.50 monthly fee and £25 set up.
Speak with your wage dept and tell them that you have changed bank accounts,give them your new sort code and account number.All this may takw a week to sort out,do you have family or friend that you can borrow off until this is sorted ?
Regards

[worryhead]

unfortunatly i have no one to borrow from. my dads on income support n my friend is in loads of debt too.i am just goona have to make everyone wait [:(]
as for co-op, i just checked my confirmation email and ur right it is a current account. gonna have to wait till tue now to get to the bank. Tue is already a nightmare due to having to sort wages and also my creditors meeting is at 1:30pm, i just hope lack of payment on time does not effect it before it has begun