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I am currently claiming against Lloyds TSB.
I have arrears on my mortgage and loan, and am currently on an agreed payment plan. After an agreed period,(10 weeks to go), of regular,on time payments, the arrears are to be consolidated on my mortgage and my loan restructured at an affordable rate.
Can any monies awarded from a claim be diverted to reducing my attears?
Is it possible/advisable to exercise right of appropriation?
Any advice or guidance will be most appreciated.
Thanks, Sinon.
Hi Sinon,
If you read my thread you will see that I am trying to excercise my right of appropriation at the moment because my account is overdrawn and i had arrears on my loan and credit card with Lloyds.
They have recently credited my account which I clearly stated i did not want because I didn't want my overdraft eating up most of my money.
I'm still waiting to hear from the solicitors with the banks decision.
I just wanted to let you know that as soon as the money was credited Lloyds removed my arrears for both my card and loan instantly from my account.
It seems the case that if you owe them money they will take any arrears from an account which is in credit. It actually states this in the terms and conditions on my card and loan agreement.
Obviously if the loan and card was with a different lender they couldn't do this.
My advice would be to try and reduce the arrears as much as possible so you will keep more money awarded.
Hope this helps and good luck!
Donna
Subject Access sent - 28/06/068)
Prelim Sent - 22/07/06
Standard Bog Off received - 03/08/2006
LBA sent - 07/08/06
Expiry of LBA - 21st Aug No reply as of yet so
Moneyclaim issued - 01/09/2006 ( I even gave them an extra 10 days before issuing claim! ) THE SWINES!
Notice of issue received 11/09/2006
Acknowledgement of service received 13/09/06
28 DAYS & COUNTING!
Total Claim - £3,966.04 inc Interest
Lloyds Platinum Visa Subject access sent 11/06/2006
"All I ask is the chance to prove that money can't make me happy"
"Whoever said money can't buy happiness simply didn't know where to go shopping"
"We didn't actually overspend our budget. The allocation simply fell short of our expenditure."
"Anyone who lives within their means suffers from a lack of imagination."
Right of Appropriation-Advice needed please
TSB.
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Re: Right of Appropriation-Advice needed please
( I even gave them an extra 10 days before issuing claim! ) THE SWINES!