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.
I am new to this, I am about to embark on taking on Lloyds TSB, First Direct & MBNA, however before I do I was wondering whether you nice folk out there may be able to help me.
I have an overdraft facility with Lloyds TSB one which can be matched by A&L if necessary however I am not in a position to pay it off at the moment.
When I send my initial letter to Lloyds & Co will they suspend my account and therefore start the ball rolling re: recovering monies owed to them or will they deduct what is owed to them from any settlement figures offered?
Obviously the new overdraft facility can if necessary pay off the old one however due to cash flow problems could do without going down this route.
Sorry I can't answer in specifics, I don't know how Lloyds work, but I'd say it's a bit optimistic expecting them to play 'nice guys' and wait till they pay you back before you can pay off your O/D.
Nil desperandum, however. Pop into the Lloyds forum, start yourself a new thread, and see what the guys there think.
Do you intend taking on all three institutions together? I only ask because lots of people aren't that brave, but take them on one at a time.
Overdrafts
TSB, First Direct & MBNA
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Re: Overdrafts
