Lloyds current account

[mikeymack2002]

I normally post in the debt/bailiff forums so hope this is the right place for this debt.

 

 

I have a friend that had a current account with a large overdraft facility defaulted and this was then sold to a DCA in this case Cabot. I have sent the usually prove it letters and had a response of pay up or else.

 

 

Ok right I say time to SAR Lloyds. Some time later the pack duly arrived, Full of all the statements and almost everything else. But, no agreement for the overdraft, no letter of sale and no details of the agreement whatsoever just the balance.

 

 

Right here goes.

 

 

1. Overdraft £2,500, over the overdraft by just £297.22

2. Debt sold to Cabot

3. Sar'd Lloyds

4. Pack returned not everything was in the pack

5. Final balance shown as £0.00 account closed

6. Final entries as follows

(a) Paid in £2,797.22 (not by the debtor) shown as a cash deposit

(b) Next line shows "Account now closed"

© Amount owed £0.00

(d) The amount shown by Cabot £3197.22

 

 

6(d) I assume is Cabot adding a fee

7. Cabot own the debt

 

 

Now I have been through every single line of in/outs on the account no late fees except 2 for a total of just £40.00 no other fees.

 

 

Next letter to Cabot stating that there is a zero balance on the account as a cash payment was made on a day or two before the account was closed, Still waiting for a reply from Cabot.

 

 

I have dealt with bank debts before but have never seen this one before where a cash payment was made credited and a debt then sold. I do have the statement issued by Lloyds showing this, I was wandering what next to do.

[Guest]

maybe was sold before payment registered.

wait for their reply. escalate to complaints if necessary.

if od was before nov 2011, then was no requirement for a full o/d credit agreement. after then, an agreement is required to be supplied at the time of the o/d.

a notice of assignment is required.

[Bazooka Boo]

OD's have part V exemptions and as such won't have any agreement for it, but there should be, needs to be, something from the bank which refers to them agreeing to provide an OD, along with all the fee's %rates etc.

 

If cabrot are adding fees then you need to complain about them to the FCA, have they bought it, or are they simply collecting on the banks behalf?

[mikeymack2002]

I forgot to add that Cabot own the debt

[Bazooka Boo]

Well if it has been sold to cabrot, then there are absolutely NO terms or agreement which allows them to add their arbitrary ''fees'', as such lodge a formal complaint direct to them and one to the FCA.

 

Lloyds will have written this off against their insurance so they are not out of pocket, if anything they will have made a small profit from the sale if the debt to cabrot.

 

The MAXIMUM I would ever pay these clowns is £1 a month and nothing more, they can like it or lump it.

 

Is this on your credit file?

[mikeymack2002]

Its shows up on his credit file the default date has remained the same.

[Bazooka Boo]

What was the date of this default?

[mikeymack2002]

06/2013