Don't be too quick claiming as you are not quite there with SB.

You probably have another month or so to go before your son in law is clear.

It would be a pity to resurrect the debt for the sake of a month or so.

Can you manage till early September to be on the safe side?

if LLoyds still own the 'debt'

then regardless to SB date they can still offset and theres nowt you can do about it.

statute barring in E&W solely stops the owner of a debt enforcing any resultant judgement if they litigate.

so they don't bother.

the debt itself still exists.

and as said if it's still owned by the original creditor, any reclaim can be offset against the outstanding balance

the only thing they cant use is the statutory 8% interest redress they have to pay you.

Thanks for that dx100uk, still tempted for the 8% interest, have claimed successfully from them in past so hopefully can again. Need to get brain in gear over next few weeks and find the motivation in my old age.

Package account will be a different kettle of fish - must look at that thread and pick up the pieces.

Completed the spreadsheet, the 8% interest comes to £1400 so well worth the effort. Will get on the case in the next weeks.

post removed

forget that wrong thread

Got round to asking Lloyds for statement of account on CC.

As expected eventually got a reply from Cabot, who now own the debt.

Long story

CC was cancelled by LTSB and we came to a repayment plan, which at time of sale to Cabot was £5 per month.

Looking to reduce it.

Current balance £1400.

As ever they threaten to demand payment in full if agreement not honoured.

Lloyds agreed to £5 per month August 2014, subject to periodic review - no detail as to this timescale.

I do not wish to stir up a hornets nest, but tempted to reduce it, without informing them and continue to pay cash at local Lloyds branch.

Two questions really

- as credit card cancelled,

no agreement other than the £5 with Lloyds,

could Cabot demand full payment if default on the £5 per month.

Second, should I write and state due to worsening financial affairs, monthly payment will be reduced.

Intend.

CCA request

upon failure stop payment totally.

dx

Have a loan with Lloyds which have successfully achieved statue barred ststus. It has a significant PPI cost. Should I start a reclaim?

Intend

I think yes, you should claim the PPI.

Of course there will be an attempt to set it off against the amount outstanding on the loan but I'm wondering whether it might be possible to take steps to forestall that.

Is it correct that the loan is still with Lloyds? Have you written to Lloyds and inform them that the loan is statue barred? Have you looked at CONC 7? I would suggest that you write to Lloyds and inform them that the loan is statue barred and draw their attention specifically to CONC 7 and make it clear to them that any attempt to recover the loan or to demand payment would be unlawful.

Have they written to you during the last six years?

You can claim but I am surprised that Bankfodder wants to do it on your behalf? The PPI claimed will probably be used to pay any outstanding balance on the loan.

Notice of assignment from Lloyds Nov 2013 to 1st Credit, the August 2015 they advised reassigned to Lloyds. Last payment 2011. Have not written to Lloyds.

Will need to check details of correspondence over last years as well as check out my old thread. Have not looked at CONC 7 but will do.

Thanks for the response.

Intend

You can claim but I am surprised that Bankfodder wants to do it on your behalf? The PPI claimed will probably be used to pay any outstanding balance on the loan.

Sorry, that was my dictation software and my poor annunciation plus my lack of attention to the final result which caused me to post an offer to claim the PPI on behalf the OP.

I've corrected it now.

Apologies for the misunderstanding – and thank you to Surfer01 for pointing it out

Sorry, that was my dictation software and my poor annunciation plus my lack of attention to the final result which caused me to post an offer to claim the PPI on behalf the OP.

 

I've corrected it now.

 

Apologies for the misunderstanding – and thank you to Surfer01 for pointing it out

No problem. I suspected as much. LOL!

is the loan still owed by Lloyds or sold to a DCA?

if they latter they yes reclaim it using our help

if its owned by Lloyds and there is an outstanding balance then it will simply be offset...not worth the aggro.

statute barring only stops court enforcement in E&W, if the original credit still owns it, then they CAN offset legally as the debt still exists on their books.

dx

I thought the interest could not be offset - this could be a substantial amount.

is the loan still owed by Lloyds or sold to a DCA?

if they latter they yes reclaim it using our help

if its owned by Lloyds and there is an outstanding balance then it will simply be offset...not worth the aggro.

statute barring only stops court enforcement in E&W, if the original credit still owns it, then they CAN offset legally as the debt still exists on their books.

 

 

 

dx

Notice of assignment from Lloyds Nov 2013 to 1st Credit, the August 2015 they advised reassigned to Lloyds

not sure of significance of last post?

means Lloyds still own it.

looking at your other thread..

what did you actually have refunded ,,,have you ever had anything refunded with regard to this loan..and what happened to it..off the balance or to your pocket?

AFAIK Lloyds haven't sold any debts on since 2015 now,

I know someone that had 4 cards and 2 od current accounts.

they were all sold to various dca's but are now all back under Lloyds and can be viewed on his Lloyds webportal.

all are statute barred.

I thought the interest could not be offset - this could be a substantial amount.

Not sure if this will work forum wont allow me to attach at the moment.

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=5623

yes it works andy

and that was a very important decision years ago.

just incase intend doesn't understand it....

they can only offset the loan PPI against any outstanding balance on that loan only.

it being statute barred...is sadly immaterial in E&W if Lloyds own the loan debt which looks probable.

intend you can double check this by logging into your Lloyds webportal.

Lloyds still own the debt, nothing refunded, statute barred as unable to provide an agreement and not paid or acknowledged since 2011. Guess I need to go down the route suggested by Bankfodder before reclaiming. Might try a reclaim as nothing to lose.

Focus on packaged account reclaim in near future.