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.
Afternoon everyone
Quick resume of the facts
1) Lloyds unsecured personal loan taken out in 2001for 5 years
2) regular payments made until 2005/6 the offered by Lloyds to roll over & re-finance loan at cheaper rate (original amount less pay off balance of first loan)
3) fall into financial trouble in 2007 - go into dmp - reduced payments agreed with Lloyds
4) ex-gratis offer made by Lloyds (accepting no liability) but not to be made available to me - refund to reduce the balance outstanding.
So my question is as follows
Do I have to accept the stipulation that the money goes to reduce the balance? Desperately need any refunds available to help keep the collective family heads abaove water.
Thanx guys
Hector
If you are in arrears on your loan they can use any refund to offset any debt. You could attempt an argument that the Loan figure and the PPI figure added to the loan should be separate issues, and any PPI refunded as mis-sold should not be used to pay off any arrears on the loan.
I would insist on a personal cheque in your name on any mis-sold PPI. Have they suspended interest on the loan? Have they added interest to the PPI and has this been refunded as well?
Lloyds offer but stipulations
unsecured personal loan taken out in 2001for 5 years
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