Lloyds Credit Card debt, do they still own it?

[vazunna]

Hi all,

 

Had a Lloyds Credit Card from 2000 til it defaulted in 2008. Various increasing limits to around £8000.

 

Balance is £ 8800 because of charges and the interest. PPI was being charged up til December 2007.

 

The PPI was around £65 a month up til the account was defaulted.

 

Sar came back real quick, but only 6 1/2 years.

 

According to Noddle, LLOYDS still own the debt, but am being hounded a DCA.

 

No court action yet.

 

Why would Lloyds still hang on to the debt for so long????

 

Other banks have cut their losses and sold to CL Finance and the like..

 

What would the best course of action be in regards to:

 

1. Obtaining / reclaiming PPI prior to 2006

 

2. Obtaining / reclaiming penalty charges prior to 2006

 

Am I correct in assuming that its possible to claim for the charges / ppi from 2006 and still pursue the

 

earlier charges in a seperate claim?

 

Is it true also, PPI claim has no time limitations?

 

I am keen to clear this debt, so would be prepared for any refund be off set onto the debt. However,

 

if Lloyds does'nt own the debt, can they still off set ????

 

Your help and views as always are most welcome.

 

Thanks in advance.

 

Vazunna

[citizenB]

Who is the DCA pursuing for payment ?

 

You should make your claim for mis sold PPI as soon as possible. If you dont have all the statements then you are going to have send a Subject Access Request - draft letter in the CAG library.

 

You will need to send £10.00 with the request and the bank have 40 calendar days to comply. You may or may not be lucky and obtain more than 6 years worth of statements.

 

If you can let me know the answer to the first question.. who the DCA is then we can perhaps establish if there has been an assignment, however from what you say in respect of your credit files I suspect that LTSB still own the debt and are just using a 3rd party to do the harrassing for payment.

 

If by some chance it has been sold to a 3rd party, then LTSB can send any refund to them in order to offset. This is currently being disputed by one or two people.. it is the opinion that if the Original Creditor has sold the debt, then they have no interest in it.

 

However, it is suspected that because so many accounts have been sold forward the DCAs are probably getting a bit upset that they have been sold debts that have "issues" ?

 

There is little point in complaining to the FOS as they are siding with the banks in this !!

[citizenB]

You can claim back the PPI from as far back as you have records.

 

The charges should be a separate claim and banks are using the statute of limitations to avoid paying charges older than 6 years.

[Ford]

ditto, claim back the ppi.

seems loyds still own this. even if they don't, ppi missell can still be claimed. offset? maybe as that would affect amount claimed. q then would be whether that amended amount is claimable? a notice of assignment (sale) should be sent if sold on. this can come from either the original creditor or new owner.

Edited August 14, 2012 by Ford

[vazunna]

Hi CitizenB and Ford,

Thanks for your replies.

MHA Collections are doing the chasing.

Can I get the statements from 2000 til the ones I have been supplied with to 18 August 2005?

Or do I just write it off?

I was under the impression a SAR goes right back as far as your financial record with the company.

Sorry if I have mis-understood.

 

If that is the case, do I continue with the PPI claim from the information I have available?

 

Same with the charges?

 

What spreadsheet do I use to calculate the interest?

 

The Fosrunning one looks so complicated, mainly because I dont have all the statements. Can I just use the CISheet v 101 for both?

 

Thanks in advance. Your help is greatly appreciated.

 

Vaz

[citizenB]

Hi CitizenB and Ford,

Thanks for your replies.

MHA Collections are doing the chasing.

Can I get the statements from 2000 til the ones I have been supplied with to 18 August 2005?

Or do I just write it off?

I was under the impression a SAR goes right back as far as your financial record with the company.

Sorry if I have mis-understood.

 

If that is the case, do I continue with the PPI claim from the information I have available?

 

Same with the charges?

 

What spreadsheet do I use to calculate the interest?

 

The Fosrunning one looks so complicated, mainly because I dont have all the statements. Can I just use the CISheet v 101 for both?

 

Thanks in advance. Your help is greatly appreciated.

 

Vaz

 

Vaz - you can ask for all the statements - but most banks will simply say they no longer keep them further back than 6 years.

 

You would need to send Subject Access Request to find out.

 

Yes, it is my understanding that all data is to be kept for 5/6 years after the financial relationship has ended. But the banks write their own rules, adhere only to those that they feel suit their interests and the FOS and ICO will almost certainly side with the bank in respect of how long they believe it is necessary to retain information. One wonders if they will get around any investigation into the LIBOR rate scandal by saying they have "destroyed" the evidence !

 

It is interesting that the FSA say that the accounts are to be returned to the position they would have been had PPI not been applied and then the banks say .. well sorry we cant do that because we have shredded the data !!

 

If you believe you are not going to obtain the information you require then suggest you go forward with the statements you DO have. Do you have any evidence at all that you were paying PPI prior to the earliest statement in your possession.. perhaps an odd statement floating round the loft !

 

I will try and find someone who can advise which spreadsheet you should use.

[citizenB]

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011(1-Viewing)-nbsp

 

YOu might be able to work out which one from the link above.

[ims21]

Hi

 

Popping in as requested by CB.

 

Can you tell me the period for which you do have full statements of account please?

[citizenB]

Can I get the statements from 2000 til the ones I have been supplied with to 18 August 2005?

Or do I just write it off?

 

 

Buried in post 5, ims

[ims21]

Buried in post 5, ims

 

Ah right

 

So you can use this spreadsheet from 2005 onwards

 

FosRunningPPI v102.xls

 

You will need to "force" the balance at the beginning.

 

Let's say the balance on the card at the end of the first statement is £500 due to them

 

In the monthly spend column enter £501 and in the monthly payment column enter £1. The card balance will then be correct at that point.

 

Carry on from there.

 

When done you will need to have a go at an estimate of PPI paid fro the period for which you don't have documentation. Some lenders will estimate while others will baulk at it though.

[vazunna]

Hi ims and CitizenB,

Thanks for the prompt replies,

I did SAR Lloyds and that was all they gave me, from 18 August 2005 to Dec 2008.

 

The problem might be I sent them the SAR regarding a specific account. Would that bear any result in the information I received?

 

I also have several statements from 2004 which includes PPI and penalty charges.

 

The balance on the card Statement date: 21 January 2004 was £2885.15

 

PPI paid was £ 23.82

 

Paid off £2150 in April so PPi went down a bit.

 

Hope that sheds some more light.

 

Vaz

[citizenB]

That is good that you have an earlier statement because some companies are insisting the claimant/customer confirm they were paying PPI on dates for which there are no statements !!

 

What these banks wont do to wriggle out of paying isnt worth mentioning.. sigh.. !!

[vazunna]

CitizenB, forgive my lack of understanding regarding the fos spreadsheet.

 

I just cant get my head around it.

 

If you could walk me thru each step I would be most grateful.

This is the earliest statement Lloyds sent re: SAR

 

Statement date 18 August 2005

Credit Limit. £ 3600

Available to spend. £ 167

New transactions and charges. £ 251.98

New balance. £ 3305.41

Minimum payment due. £ 136.74

To reach your account by. 12 September 2005

Balance from previous statement. £ 3053.43

Car Rental. £ 162.66

Late Charges. £ 25.00

Payment Protection Cover. £ 25.90

Interest. £ 43.42

 

Can you please tell me what figures do I put into what column on the spreadsheet?

 

Apologies for being thick in advance.

 

Thankyou so much for your help.

 

Vaz

[dx100uk]

open the spreadsheet and click on the RED instruction tab at the bottom.

 

dx

[dx100uk]

IMHO you need to FIRST find the average of ALL the monthly PPI payments you already have

 

then use that figure from the 2nd month the card existed to the FIRST date of a statement that actually HAS a PPI figure [thus your are giving gestimate what the PPI was for the statements you do not have]

[citizenB]

CitizenB, forgive my lack of understanding regarding the fos spreadsheet.

 

I just cant get my head around it.

 

If you could walk me thru each step I would be most grateful.

This is the earliest statement Lloyds sent re: SAR

 

Vaz

 

take instruction from dx and ims21.. I have absolutely no idea how these things work either