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Lloyds Bank Freezing Interest


Hazher
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I have had a Loan, overdraft and credit card with Lloyds bank which they have agreed to freeze the interest on.

 

They’ve had said that from this I will then have 1 default on my credit file on 6 years and within 35 my account will be passed over to the collections team and then the recovery team.

 

What does this mean? It totals about £10K but I’m worried about bailiffs!

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Stop worrying - It wont get to that level... Needs to go to court and you lose, then you dont pay anything... This takes a LOT of time.

 

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Receptaculum Ignis

 

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banks don't/cant do any of those things

and don't mix up BAILIFFS [which cant come till AFTER court and you lose on EACH account - and banks don't so court anyway... they'll sell the debts on]

with DCA's

a DCA is NOT A BAILIFF

and have

ZERO legal powers.

 

I would guess to date some of this has been some over the phone?

from now on STOP using the phone to ever talk about your debts

writing only..put the phone DOWN.

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thread moved to the appropriate forum...please continue to post here to your thread.

 

Lloyd's are quite correct...if what ever reason you ask them to freeze interest then it must be because you cant manage the monthly contractual payments...therefore you have defaulted on the agreement or will default and they will mark it down on the credit register files and allow a set time for you to get your account back in order.The default will remain on your CRAs for 6 years.

 

If you cant get it back in order then they will pass it to the collections team and then the recovery team.

 

Andy

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