Thread: Mis-sold Lloyds TSB loan?

Back in 2008 I had two separate employments, one full and one part-time. In spite of this, my overdraft at Lloyds TSB crept up to £3000, at which point, my wife and I went into the branch to discuss. The result was that I came out with a "pay later" loan of £10500 plus compulsory? PPI. Two months later, when first payments fell due, I lost my full-time job, but because I was still employed, couldnt claim on the insurance. 12 months on, I am still £500 a month down and cant afford to pay anything at all off the loan which they are taking me to court for. I would never have taken the loan out if I had known I couldnt be covered for uinemployment and they really shouldnt have made me commit most of my income from 2 jobs anyway. The girl in the bank couldnt wait to get me signed up. " your lucky day sir? recession tightening things up, (true) PPI comulsory, (false) Got to reply to court summons very soon. Worth taking legal advice on this or DIY? Steve.

I replied to the summons saying that I didnt know what it was about, because Lloyds never gave me any paperwork at the time nor later when I requested it. Now at last their solicitors have sent me the agreement showing PPI and all. Looks like they already refunded the bulk of the PPI portion, but that still leaves a huge lump that I cant pay and no protection . Anything I can do re mis-selling by these cowboys (girls)? Steve.

Was The Bulk Of The PPI Refunded After They Started Court Action

No, that was a few months back.

Did You Accept In Full and final

Did You Sign Anything

no

Didnt even know till paperwork came this wk. They just did it themselves dunno why?

Is there any way I can go on the offensive with this? Very soon they are going for a judgement against me for a large sum that I (by any sane standards), could not afford at the time and with worthless (in my case), protection. I cant offer a cent towards this debt and they could (yes I know its rare) force me to sell the house even though there are 2 independant kids living with us.

Sorry to be confusing here, but this subject is also in the "Legal Issues Forum" under "Cant pay, debtors prison next?" but nobody is repyling at present. I think I may have Lloyds on the run here This week they sent court papers from the bulk centre to my local court, but when I called in there yesterday, the clerk said that he had just had a request to send them straight back. Says this is first time he's known this to happen. Today arrives a letter from LTSB insurance saying that they havent yet resolved my complaint about the mis-sold inneffective (for me), PPI that formed a part of the original loan. Giving theirselves another 4 weeks to finalise. Saying taking long time to gather all the information. Is there a glimmer here? What to do next? Just wait?

Keep getting moved around, new on here

http://www.consumeractiongroup.co.uk...debtors-3.html