letter from Lloyds TSB

[IANNEEDSHELP]

Me and my wife have various credit cards

After reading lots of information on here I decided to post on here for some advice (dont know how to find that post now) but it dont matter what I did was send a letter to them all requesting would they freeze accounts for 28 days while we seeked professional advice

That seemed a waste of time cos only 2 replied and basically said no

Decided then to cca them all 12 days not up yet

The day I posted the cca I got a letter from TSB which I think was a reply to my request to freeze the account for 28 days the letter in brief is:-

 

Thank you for your letter

I have enclosed a form for you to complete and give us your financial details

When we have your completed form returned we will consider your payment proposal

If we accept your offer your account if open will be closed ( I never replied)

 

Then over the weekend I got another letter from TSB (they recieved my cca request letter on 30/01/09) am sorry I dont know how to copy and paste would have to wait for my daughter to come round so I hope you dont mind me typing the letter

 

You have missed payments and your account is in the arrears. In order to give you a fresh start we want to bring your account up to date and clear all of the payments that we have asked you to pay in the past which you have not paid (your arrears)

 

In order to clear the arrears we need to make a change to condition 18.5 of your agreement. It will read " We may choose not to enforce our our contractual rights against you and make this contractually binding against us by giving you a notice which expressly states that we have chosen to do so under this term of the agreement. In all other cases if we choose not to exercise rights against you we can still do so later "

 

This letter gives you notice for the purposes of this new condition 18.5 the arrears standing on you account at the date of this letter have now been cleared. you will still owe us these anounts which form part of the outstanding balance on your acoount. However you will no longer be treated by us as having missed any payments due to us and we will not be able to demand immediate payment of those arrears in future. Any new payments you miss going forward will be treated as arrears on your account.

 

so sorry i had to type all that but has anyone else had a letter like that cos i know TSB are trying something but I dont know what ?

[42man]

Ian your other thread is here - http://www.consumeractiongroup.co.uk/forum/general-debt-issues/178853-what-do-i-do.html

 

I'd also in the first instance open a parachute account with another bank, are there some excessive charges that you could potentially reclaim back ? (although these may be offset against any debt)

[IANNEEDSHELP]

Hi 42man

 

I have opened another account and yes charges are against this account not sure how much tho just dont understand what there letter really means

[supasnooper]

What they are saying is that they will not pursue you for the moment but reserve the right to do so whenever they feel like it.

 

In other words, if you don't pay them or agree to what they want now; then be prepared for the phone calls and the letters that follow.

[IANNEEDSHELP]

supasnooper hi

 

thank you for your reply I just dont feel comfy that they now want to change condition condition 18.5 cos i dont even know what condition 18.5 is I have cca them anyway so may just give them a quick reply to say I dont agree to any changes in my agreement untill they reply to my cca request

[supasnooper]

Sorry about this - just re-read what LTSB have written. I had based my initial reply on the current 18.5 condition.

 

This is what LTSB have written to you -

 

In order to clear the arrears we need to make a change to condition 18.5 of your agreement. It will read " We may choose not to enforce our our contractual rights against you and make this contractually binding against us by giving you a notice which expressly states that we have chosen to do so under this term of the agreement. In all other cases if we choose not to exercise rights against you we can still do so later "

 

This letter gives you notice for the purposes of this new condition 18.5 the arrears standing on you account at the date of this letter have now been cleared. you will still owe us these anounts which form part of the outstanding balance on your acoount. However you will no longer be treated by us as having missed any payments due to us and we will not be able to demand immediate payment of those arrears in future. Any new payments you miss going forward will be treated as arrears on your account.

 

LTSB are offering to change the 18.5 condition, so as to allow the current arrears still be owed and be part of the balance owed but are now not classed as arrears. LTSB will not be chasing you for these arrears.

 

LTSB, however will in future, be treating any future missed payments as arrears.

 

 

Looks quite reasonable on the face of it, might be part of the new way of helping debtors.

[IANNEEDSHELP]

supasnooper

 

thanks for reading my post again I also thought what a nice reasonable letter from TSB but not having a copy of any agreement yet I wont be holding my breath. All I know is that they have sent this letter out after they got my cca request and then I checked its not my birthday and its not Xmas so why have they decided to send me this letter now

[IANNEEDSHELP]

Credit card companies dont they just hate people requesting cca

 

I have cca various credit card companies posted letters 29th Jan

 

Got the above letter From LTSB

 

Got a standard letter from Egg saying please ring specialist team might be able to help with repayment program (letter dated 5th feb) got letter 9th of feb

 

Got a default notice off Egg (letter dated 4th feb) got letter 11th of feb

Default notice looks correct. payment of arrears due 4th march

Plus egg have requested sign this bit of paper letter so we know its you requesting a cca and i cant just drop into a egg bank and show them my ID so does that mean a extra 12 days for a cca request

 

The rest of the credit card companies have not replied yet and the clock is ticking