Lloyds TSB Loan..... question

[Sharkey3439]

Back in 2005 i got into some "slight" problems. At the time i was paying over £600 a month to LTSB on a loan.

 

They agreed to accept reduced payments as part of a pro rata system with my other creditors. After making approximately 4 payments of the reduced amount, (£288), they offered to make this a formal arrangement.

 

This arrangement took the form of a letter stating 2 options, one with PPI, one without, and a reply form. The letter which stated the options included the monthly payment, APR, number of payments and initial amount borrowed. As far as i remember the reply form didn't state these, just option 1 or 2 with tick boxes, don't even think i had to sign it.

 

My question is that even though i am not having any problems meeting these payments, would it be worth sending a CCA request for my own records, and if they can't produce an enforceable document is there really anything that's worth doing with the account. (I don't have enough spare cash to offer a settlement).

[pt2537]

Hi there

 

you are totally within your rights to ask for the documents, so its entirely up to you, it may be good to have a copy on file to see indeed whatthey do have

 

 

Regards

paul

[Sharkey3439]

Thanks for that,

 

I did forget to ask that as the loan amount was increased to consolidate my overdraft aswell as the previous loan, would this definatley be considered a new loan, so the CCA from the previous one wouldn't cover it.

[Sharkey3439]

Quick update, instead of posting letters and forking out, thought i would chance it and phoned for a CCA, the Loans Dept. have agreed and it should be at my door by monday, no costs.

[pt2537]

Hi

 

I hate to be the bearer of bad news,

 

but if a request is not in writing its not a valid request under the CCA 1974

 

and you need to furnish them with the one pound fee too

 

the agreement will not become unenforcable if the request is not in writing even if they dont supply you the agreement you need proof of delivery too

 

 

regards

paul

[Sharkey3439]

Maybe not, but as this is to allow me to actually have a copy on file first, (required to have security/financial vetting for work), if they send it out after a phonecall then so be it, if it doesn't appear in a couple of weeks, then i will send a formal request via post.

 

As there is no rush or problem with the account as yet, no harm trying.

[Sharkey3439]

Right then, i have been able to secure funds to settle this loan and finally get away from the dreaded Lloyds TSB entirely.

 

Just telephoned their customer services for a settlement figure, and was surprised to find that it is more than the balance showing on the internet banking. After the third time of getting the lass on the phone to repeat herself, i asked why, she replied, there is a £250 settlement fee. But the balance they have, was still higher than the balance showing online even after removing this fee.

 

Couple of things, can they put the balance up again, or can i get away with only paying the "advertised" price? Also, how can they justify a £250 fee for me giving them their money back?