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 have recently discovered that a relative aged 62 is in debt to Lloyds Bank. When she could no longer pay her rent she went to a Lloyds branch and came out with a £3000 personal loan at 18% APR. She has used much of the £3000 to make the monthly repayments of £117 per month, and now has nothing left. She still owes the bank almost as much as she borrowed. She still cannot pay her rent and is threatened with court action by both bank and local council.
The lady does not understand percentages, has never heard of APR, and has emerging cataracts in both eyes so she cannot read small print or see the screen on a bank computer. If the bank had told her the interest rate was 400% she would still have signed up for the loan - it means nothing to her. Until today she had no idea how much she owed the bank, and no memory of when she took out the loan or how long it would take to repay. When I asked her if she borrowed £3000, £4000, £5000, £6000 or £7000 she replied that "she might have done".
I think this is blatant mis-selling - am I correct and if so how should I proceed? Help needed urgently.
Mis-selling loans?
Bank. When she could no longer pay her rent she went to a Lloyds branch and came out with a £3000 personal loan at 18% APR. She has used much of the £3000 to make the monthly repayments of £117 per month, and now has nothing left. She still owes the bank almost as much as she borrowed. She still cannot pay her rent and is threatened with court action by both bank and local council.
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