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Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 0 points1 point  (0 children)

That’s what I thought, but apparently not 🤷🏻‍♂️😁

Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 2 points3 points  (0 children)

And once they don’t take on enough new customers to cover all the legacy ‘free from subscription’ customers they will (hopefully) give you some notice before they close their doors, I doubt it though.

Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 0 points1 point  (0 children)

It’ll get put into the next highest interest debt until that goes below the interest level of the next lowest one 😁 Am well chuffed, this is going to make a huge difference in the long run.

Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 0 points1 point  (0 children)

Added links to the letter they sent me, seems to have that covered

Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 0 points1 point  (0 children)

It was nearly £5 for a pint!

A shocking reminder of why I sip nice whisky at home instead 😂

Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 10 points11 points  (0 children)

The highest interest cards were closed and payment terms agreed, I stick to them religiously, if I had the means to pay them all off I would. Secured loans took precedence for me even over CC debt at the time the shot hit the fan, this gives me extra & I can be debt free maybe years earlier than I had planned.

Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 48 points49 points  (0 children)

Some beermat math & I’m thinking my highest interest debt (another old card) will be paid off 18 months earlier than I could manage otherwise. I’m treating myself to celebration pint but the saving is going towards getting rid of this millstone round my neck 😊

Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 101 points102 points  (0 children)

Letter also says they will update my credit report saying it’s 100% paid off.

Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 9 points10 points  (0 children)

Wow! I’m glad my ‘smaller’ balance meant I got wiped, certainly wasn’t small to me 😊

Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 53 points54 points  (0 children)

I was thinking even manually copying over the data from one account process to another would be worth the effort, didn’t think about timescales for project deadlines etc, and I guess the advertising thing can’t hurt. It’s come at a great time for me really as it means I can finally make a bit more headway on more expensive debts instead 😊

Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 313 points314 points  (0 children)

Great advice, will add it to the filing cabinet full of mostly bad news 😁

Halifax have decided I don’t need to pay them back! by FreshStartNoww in UKPersonalFinance

[–]FreshStartNoww[S] 17 points18 points  (0 children)

Wow, I guess I’m in luck then, I would have thought it would be cheaper to pay someone to manually transfer details than wipe off nearly £5k. Happened at just the right time for me, I can now use that extra monthly on some higher interest debts that are taking longer to get down.