Lloyds Tsb loans -Overdraft ?

[maureen1]

Hi,as i've received alot of help on these forums(in another thread) i've decided to sort my finances out and i would be grateful if anyone could offer some advice on my situation with Lloyds tsb loans.

 

I took out two loans from Lloyds Tsb and at first all was well...then i fell behind with the payments ..I never had a planned overdraft on my account and unbeknown to me the payments were took out and a overdraft issued in order to pay them ?

 

I did eventually get the interest stopped.... what i would like to know is this the right thing for the bank to do ? Can anyone help me please?

 

As for the loans i pay Apex £20 for each loan each month and the overdraft i pay Lloyds tsb in a paying in book every month £20

 

Thankyou for any advice

Maureen

[harrassed senior]

This is very naughty. What they have done is to make the overdraft the amount owed and not the loans.

 

Have you ever made an official complaint to Lloyds over this? If not, then you need to do this before you can make an official complaint to the FOS.

 

It may be that they know they do not have the correct paperwork to legally enforce the loans, so are trying to convert the loans to an overdraft which comes under seperate parts of the CCA.

 

As well as the official complaints procedure, I would send 2 seperate CCA Requests, one for each loan, to see if I am correct and they have no enforceable paperwork.

 

You may also wish to apply a SAR to Lloyds which should give you all the paperwork they have on your accounts.

 

Having just re-read your post, send the CCA requests to Apex, but SAR to Lloyds.

 

If you still bank in any way with Lloyds, it would be a wise move to open alternative banking arrangements with a bank not in the same ownship.

[Mr Worried]

Hi Maureen

 

That is what TSB done to me too, OD for loan payments even though they would not give me requested OD, Shame on them.

 

Get the SAR into TSB, and the CCA to Apex.

 

I sar'd TSB and I am awaiting response, cant wait to recieve it, cos am gonna have some fun, especially with what I know now which has been learned from CAG.

 

Mr W

[shades78]

I had a simalar experience with lloyds about 10 years ago. I had a lloyds credit card when i was about 20 and quite niaive, I fell behind and woke one day to find the entire amount had been transferred to my account. It turned in to a reseeding overdraft, each month a set fee was taken and the debt was eventually paid off, although I am sure that their actions were not 'kosha'.

 

5 years ago I got in trouble with them again with an overdraft, their fees were strangleing me, I eventually changed bank accounts and 'forgot' about the whole thing. Since discovering the world of credit reports i see a default has been added on to my account, last updated 41/2 years ago which has demolished my credit rating. I have had no contact with them in all that time, do i now contact them to attempt to negotiate paying the debt off? will this then stay on my file for another 6 years or more? or do i stay away and hope for no contact from them until the thing drops off my file?

 

If i contact the bank and ask for apply a SAR now will that class as contact and bring the wolves to my door?

 

Any advice welcome!

[maureen1]

Thank you harrassed senior and Mr worried i'll certainly get a start with the CCA requests to Apex and the SAR to Lloyds tsb.

 

One thing i want to ask is do i send the SAR to my local branch of Tsb,or is there a main office address i would send it to ?

 

Many thanks once again

Maureen

[impecunious]

I'm currently dealing with LloydsTSB for similar situation. I CCAd Apex (acting as "intermediary" for LloydsTSB) and was advised that the agreement for overdraft was "unavailable". Thank you LloydsTSB - that's £5,000+ unenforceable.

 

Now for loan a/c - front-loaded, single sum PPI added - so another account invalidated! No wonder they needed rescuing! Now just waiting for agreement (if its available) and PPI claim.

 

Good luck with yours.

 

 

Impecunious!

[Tartan Barty]

the agreement for overdraft was "unavailable". Thank you LloydsTSB - that's £5,000+ unenforceable.

 

Bank overdrafts whilst covered by the CCA regs have exemptions so they dont need to send you an agreement. Whilst you could argue the account is in dispute, its far from unenforceable

[impecunious]

Thanks - I do realise that overdrafts are not completely covered by CCA regs but Apex have washed their hands. I suppose they'll just pass it on to someone else and we'll start letter ping-pong all over again!

 

if the worse does come to the worst, they can have £1/month!

 

Impecunious!

[harrassed senior]

The point here though is that this is exactly the reason that Lloyds do this, they, in my opinion, know they would have trouble providing enforceable paperwork for the loan, so for as long as they can get away with it, they transfer it to an overdraft which as has been said, although covered in part by a CCA Request, unfortunately, it is, in most cases still enforceable.

 

It is this basic action that needs to be challenged.

[maureen1]

Just a update

 

I haven't got round to doing anything with these 2 loans yet but to my surprise ive received two letters this morning from LLoyds Tsb saying this;

the consumer credit act 1974 requires us to send you this notice because you have missed repayments due under your agreement.( I HAVEN'T ) if you have not already done so,please contact us to discuss your missed payments as we would like to help you with any financial difficulties you may be experiencing.

opening balance as at 16th april 2010 is £4768.66 of which arrears are £4768.66

balance at todays date is £4644.66 of which arrears are £4644.66

 

It then shows me my payments which ive made each month which are up to date? the last one being 11-10-10

 

The second letter is exactly the same just for a different amount of loan.

 

Can anyone offer me any advice on what to do now please? thanks

Maureen

[harrassed senior]

Carry on with the SAR to your local branch should be ok.

 

Keep the above letter, as they are still referring to the loan as a seperate account which is good, get the CCA request in asap to whoever is handing this for Lloyds.

[maureen1]

Thank you for your advice !

I've been re-reading this thread and wondered is it worth CCA for the two personal loans (as pointed out in a earlier post by tartan barty that they don't need to send out the agreement so would this not cause further trouble for myself ?) I'm a really nervous person anyway and i think "what if" all the time ,I want to do the right thing and know what you people are saying is right but my "what if's" kicks in ! Can you tell me what will happen when i request a CCA for the two loans ,will they write and say " we dont have to show you the cca" or something similar now pay amount (s) in full or you'll be in court by 14 days?The latter is what i dont want to happen please assure me some how !!!!!! thank you Maureen

[Mr Worried]

Maureen

 

Rest-assured you have been assured, do as the advice tells you to do and you will be fine, keep us all informed.

 

Mr W

[maureen1]

Just a little update.. I've received a telephone call from Apex tonight i said i would like all correspondence in writing from now on he said "but what i have to tell you cannot be written down in a letter" so if i confirm my account questions to him he will tell me what it is ! I politely declined to answer my questions to him and stood my ground saying "in writing only" He then carried on saying "well you've spoken to us on the telephone all the other times so what's the difference?" My reply was ...."I thought i had to speak to you ,i thought it was ok for you people to telephone me up all the time harassing and making me feel like sh*t! As i say "i thought" i now know i don't have to so that is why ..the telephone went quiet and after what seemed like 10 mins (which it wasn't) he answered "you will regret this "???

 

Still no reply back from my SAR request or CCA ......i wonder what i will regret ???

 

thanks for reading Maureen

[Mr Worried]

Hi Maureen

 

Good for you, I dont think you will regret anything stick to your guns and all will be fine, have a beer tonight whilst you watch the England game..oops I mean Corras.

 

Mr W

[maureen1]

Thanks Mr Worried

[Mr Worried]

No Probs Maureen, sit tight and keep us all informed.

 

Mr W

 

 

Thanks Mr Worried

[The Debt Star]

The point here though is that this is exactly the reason that Lloyds do this, they, in my opinion, know they would have trouble providing enforceable paperwork for the loan, so for as long as they can get away with it, they transfer it to an overdraft which as has been said, although covered in part by a CCA Request, unfortunately, it is, in most cases still enforceable.

 

It is this basic action that needs to be challenged.

 

Mis-selling. Complain to the FOS.