Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
After 30 years of banking with Lloyds I have recently begun to doubt their ethics. I have personal and business banking with the same branch but in September one of their 'young guns' called me over the weekend to ask me to come in and discuss my outstanding loan, credit card balances and overdraft.
To cut a long story short, I came out of it with all outstanding sums refinanced into a personal loan over 7 years at an interest rate of 13.6%. The amount being financed was £20k but the payment over 7 years would have amounted to about £45k and I left feeling very depressed.
On arrival he had said to me he thought I need not have taken out PPI with my old loan but on refinancing my loan however, he said I had to have this PPI as my security against this loan was so poor; one day in October when I picked up the insurance booklet I realised the cover he had sold me contained a veritable cocktail of insurance cover that don't need as I already pay for it - and had told him as much - and most are with LLoyds too!: income protection, Life Insurance, critical illness, the list goes on, so he really pulled a fast one there.
When visiting my business banking manager in November, she was shocked to hear this had taken place without her knowing so she called said super smoothie in to see what he could do. The upshot is he has been told never to contact a business customer without prior agreement by the business banking manager (I would have thought this was good practice anyway) and has refinanced the loan at 6.8% (!) and without loan protection. The payments are LESS than they were going to be before and are over 4 years!! I have thus wiped 3 years of payments off this loan which is now going to cost me only £24.5k roughly rather than £45k! Not being a fast arithmetician though I have no idea whether I have lost out as initially he said I wouldn't be able to cancel the original Loan PPI as it was outside the 30 days period, but how do us consumers know if we're being duped or not, when no calculations are ever provided, they just scribble a few figures on their pads and the rest of the time just fire figures at you from their screens. You never walk away with anything you can check at your leisure?
I know bank rates have come down and yes a refinance was always going to be possible but if I hadn't asked I could have made myself sick with worry about meeting these payments.
What does anyone think about this?
I think you have had a narrow escape thanks to your business banking manager, who will hopefully deal with the actions of the other chap internally so that he cannot go near a customer until he has spent the next five years refilling the branch leaflet dispensers and checking the ink in the biros.
U-turn by LLoyds makes one doubt ethics
I have recently begun to doubt their ethics. I have personal and business banking with the same branch but in September one of their 'young guns' called me over the weekend to ask me to come in and discuss my outstanding loan, credit card balances and overdraft
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Re: U-turn by LLoyds makes one doubt ethics
