Legal and General

[strappedforcash]

Hi , Ive just joined up after finding you guys on a google search .

I am looking for help with a problem we may or may not have with Legal and General Insurance .

Just received a letter this am saying,

"Please contact me urgently to discuss your account and prevent possible action being taken.

If you fail to cntact we reserve the right to surrender or sell the policy assigned to us as security for your loan and use the proceeds towards repayment of all monies you owe us.

If it is surrendered the policy will come to an end and you will no longer enjoy the benefit of life cover .

Yours etc "

This is the first correspondence we have had with Legal and General for years , we have a policy to cover an endowment mortgage ,that is long since gone , but we kept the policy going as cannot get life insurance due to ill health. the policy is up to date payment wise as it has been paid by DD since the day it started .

Our old mortgage was with Nationwide , but the worrying part of this letter is at the bottom, were it says email recoveries @northern rock.

 

We have NEVER had any account with Northern Rock , so I am wondering what my next step should be ?

Has anyone had anything like this before

[reallymadwoman]

Though the general advice is to never do anything over the phone, I think in this case a phone call is merited. Be very careful what you say, don't agree to or with anything just in case it's a very old debt that you'd forgotten about or something like that, but just ask for a full explanation of what the problem is. Once you're clear end the call saying you'll be in touch once you've considered the information. If you need help, post back.

 

Incidentally, if they don't already have your phone number, it might be an idea to withold it before you call.

[strappedforcash]

We have just had another letter from L&G, they wouldnt givemuch away over the phone .

This one says final demand and that if we do not act on the letter within 5 days then they will issue a notice of default.

These two letters have been the only correspondence that we have had from L&G in years .

It seems to definately look as if they have some sort of loan outstanding in our names .I am positive that we have never had a loan from L&G .Surely if ther had been a loan outstanding they would have made some sort of contact well before now asking for payment ?So can anyone advise what we should do next please. Should I do a S.A.R

[reallymadwoman]

I would send a polite request asking for full details of exactly why they are writing to you. Say if this is an alleged debt you will require proof that it is your debt and that the amount outstanding is correct. Send your letter recorded, and don't sign but print your name.

[strappedforcash]

I would send a polite request asking for full details of exactly why they are writing to you. Say if this is an alleged debt you will require proof that it is your debt and that the amount outstanding is correct. Send your letter recorded, and don't sign but print your name.

Thanks for the quick response .

I will write the letter now . Re signing the letter .

They have addressed it to my partner and to me , but have put my surname as my name before my marriage . They were informed of my change of surname over 18years ago , yet have not acknowledged this in this letter .

If we would have had a loan it would have only been in my married name , so which name do I sign as? I am thinking suspiciously here (only after reading so much about the underhand ways of financial houses on here ) or should the letter just be responded to by my partner for now?

[reallymadwoman]

I think it doesn't matter which of you responds, so just get your partner to print his name. The fact that they are using your previous name implies that this is a very old account.

[strappedforcash]

Just to revisit this , if this had been taken out in 1999 , when would it have become statute barred if there were NEVER any payments made please

[raydetinu]

Sounds like a [problem]?

Are you sure its from L & G? Do they give any details; such as policy number etc.?

They are pretty straight and have nothing to do Northern Rock!

[strappedforcash]

Sounds like a [problem]?

Are you sure its from L & G? Do they give any details; such as policy number etc.?

They are pretty straight and have nothing to do Northern Rock!

 

Sorry for the delay , it is L&G and they do have something to do with Northern Rock , it is their mortgage arm of the company .

 

The upshot appears to be that a loan was taken out against an endowment policy in 1999 at our old address ,that the policy was to have covered to clear the mortgage , but we had moved the previous year and had tenants in the property .

The loan was also paid into an old unused bank account. It was also taken out in my maiden name , yet both the mortgage company and LG had been told 10years previously of our marriage . Does anyone know where we stand on this please ,

[raydetinu]

ops should of done a bit of research first, get quite tangled these firms, sorry.

suggest you contact them, by email preferbly and get all the details, or do a SAR and enclose postal order for ten pounds.

SAR will make them give you all the information they have on this.

[strappedforcash]

I spoke to L&G oN Friday and she sent me what they said was a copy of the original application , apparently the loan they gave was for £3500 and they are now saying that with the interest accrued on it , it amounts to £10000 + the worry is that the original application was sent to our old address in 1999 , and it looks like they paid the money into an old bank account of mine . The signatures on the application , whilst they are our names , are definateley not by our signatures . The other worry is that IF we had this loan , then why were we never contacted by L&G prior to 2008 asking for a payment , as they were taking the premiums for the endowment from OH bank account up until last week .

[raydetinu]

What happened to the money in the old account?

did you make any payments on the loan at all, or are you saying you did take it out?

In the normal sense, it would be statute barred and that would be the end of it, however they have access to your endowment policy as they have said.

Whether this is legal; not sure. but banks do it all the time.

You may need to get legal advise.

[strappedforcash]

What happened to the money in the old account?

did you make any payments on the loan at all, or are you saying you did take it out?

In the normal sense, it would be statute barred and that would be the end of it, however they have access to your endowment policy as they have said.

Whether this is legal; not sure. but banks do it all the time.

You may need to get legal advise.

 

I thought I haad posted a response to this the other day , but obviously it didnt .

 

Spoken to someone else today at LG , told them the signatures were not ours.

Reiterated about our marriage and the fact that they were told in 1989.

Told them we had moved in 1998

 

She told me to get intouch with NRAM , which I did , spoke to a guy there , who was a dopey as anything ,said he couldnt see why L G had told us to get in touch , as he couldnt see anything relating to us ?????

 

Another worry is that in the course of the conversation with LG , I was told that to speed things up that we didnt need to sign the maturity form that they could do the verification over the phone ???????? No wonder I am having to deal with this mess .

 

 

 

Found this

 

NRAM Mortgages are now managed by a private holding Company called UK Asset Resolution Limited who unlike all other High street Banks and Building Societies are not regulated by the Financial Services Authority.

I am also wondering if the loan falls in to the non compliance area , due to there being only 2 pieces of paperwork , and nowhere on it does it give full details of the loan ?

[raydetinu]

what happened to the money!!??

[strappedforcash]

what happened to the money!!??

 

Sorry , I dont know , I just assumed that it was a bank account of mine , because the last time I had a bank account in my maiden name would have been in 1989 and I just stopped using it as I got a joint account with my OH . I just know that we didnt get the money

 

I also spoke to the Ombudsman today , he seemed to think that if al else fails the fact that there is such a big gap in time from the start of this until LG or NR did anything that the Statue would apply ,

[raydetinu]

Taht may be so, but they have access to your policy, and they are threatening to use that to pay of the debt. can you stop them is more to the point!

[strappedforcash]

I am trying . I remembered also that around the same time , someone used my mothers identity to get various things , her name is the same as mine (maiden) , recall going to the police at the time and they werent interested .

I am going to go back to LG today and try again . There appears to be no credit agreement on file the only paperwork relates to what appears to be an enquiry form . That in its self CANNOT BE LEGAL SURELY?

[strappedforcash]

Today I have spoken to the OFT , FSA and Ombudsman . Aswell as National Debtline . who turned out to be the most helpful . According to them regardless the loan is Statute Barred , LG have no right to assign any of our monies to NRAM without our permission and if NRAM feel that there is a debt is is up to them to pursue not LG .

 

One other factor that ND mentioned that as we were using this money to clear our mortgage arrears , we are running out of time because of their actions . This is causing us stress and in the event that our mortgage company gains possesion of our property we will pursue them for compensation in the event of any losses incurred by their lack of action in finalising the matter .

 

I just need to find the right way to word that .

Edited February 14, 2013 by strappedforcash

[strappedforcash]

Letter today , from NR staing they have no further interest in my policy .