help needed

[carteroo]

hi all i hope someone can help me,a while back i sent off for a credit agreement from lloyds tsb,as scm were hassling me,anyway,i get a letter today,they do include a credit agreement for a loan i took out,which was for £2000,but they have also included a current account which has no agreement and it is for £4000,the letter i received to day goes as follows....

 

our client lloyds tsb

account number ********** £4259

loan agreement ************ £2000

 

further to your recent request,we hereby enclose a copy of the credit agreement.(yes they have included one for the loan account)

 

the current account application is no longer available as it is more than 6 years old and not subject to the consumer credit act.

we await your repayment plans.

 

can anyone tell me what to do,i fully accept the loan agreement,but they dont have one for the account???

[debt4get]

I think you had better post up what they have sent with details blanked out so you cannot be recognised and let people have a look at validity, dont think current accounts come under the cca but anyway let people have a look and perhaps you can get some more help

[carteroo]

i have posted exactly what they sent,the only thing is..i was thinking about the actual credit agreement that they sent me,im pretty positive that the loan agreement was taken out before the date that is on the actual agreement,so could or would thay of changed the date?and do i now send off a sars request??

[carteroo]

anyone??

[Undercover-Elsa]

Hi Carteroo

What Debt4get means is that you need to scan the loan agreement they sent and post it up (best way to do this is via either tinypic.com or photobucket) after blanking off your personal details/account number, so we can check it for enforceability.

The current account doesn't come under the CCA in the same way as loans/credit cards do. However if you are likely to have any unfair penalty charges ie overlimit fees, unpaid cheque/DD fees etc then yes you do need to send a SAR. The link is below.

Hope this helps,

Elsa x

[carteroo]

i will upload the agreement abit later,i personally think its enforceable,just im abit curious about the date,i swear that i took the loan out a couple of years earlier than the date thats on the agreement...and also,who do i send the sar to.scm who are acting on behalf of lloyds,or do i send it to lloyds themselves?

[carteroo]

ok ive uploaded a pic of the agrrement

 

http://i369.photobucket.com/albums/oo138/iduno86/img002-1.jpg

[Uptotheneck]

You need to sent it to the OC which in this case is Lloyds.

 

 

Regards

 

David

[Uptotheneck]

Someone else will be able to advise, but I would question the uncancellable bit?

 

 

Regards

 

 

David

[Undercover-Elsa]

Hi again,

I notice there's PPI on the loan. Did you ask for this? Also were you self employed or on a pension or benefits when you took the loan out?

The uncancellable bit depends on the circumstances in which the loan was taken out.

Elsa x

[carteroo]

i dont remember asking for the ppi,and i was employed at the time,i just think the date is abit dodgy,im sure i took the loan out before the date thats on the agreement

[Undercover-Elsa]

If it was missold you can claim it back. Search the threads or Google Missold PPI for more info.

Interesting about the date...do you have any bank statements predating the agrrement they sent, showing payments to it?

The full SAR to Lloyds will show it up.

Thanks for the tickle btw

Elsa xx

[carteroo]

i did send off for copies of my statements to reclaim bank charges,but it didnt show anything but fees,overdraft charges etc,i dont bank with lloyds anymore,so the sar request would be the way to go?

and another thing,i put in a claim to get my bank charges back,but i dont think i put the correct amount down,i think it should be alot higher than i put...so yea,do i put another claim in once i receive the documentation back from my sar request??

[Undercover-Elsa]

You'd need to do the full SAR as opposed to the one mainly aimed at fees..the template is in my signature on post 3

From that they're supposed to send ALL the data they hold on you.Specify all data and emphasise anything you particularly require.

I'm not sure about adding to the claim once you've started it..maybe depends how far you've got..you might need to query that specifically on the Bank Charges forum

Elsa x

[carteroo]

hey again,i was just reading through the national debtline advice and i wanted to ask something,earlier you said....

 

The current account doesn't come under the CCA in the same way as loans/credit cards do. However if you are likely to have any unfair penalty charges ie overlimit fees, unpaid cheque/DD fees etc then yes you do need to send a Subject Access Request. The link is below.

Hope this helps,

Elsa x

 

and on the national debtline advice area they say.......

 

Debts with your bank – overdrafts, loans

and credit cards

Many people use their current account with a bank or building

society to have their wages paid into and to pay household

bills.This can cause problems if you have a number of debts,

and your current account becomes overdrawn.

With an overdraft you pay interest and charges on the full

amount you owe. If you have a loan with the bank or building

society, the full monthly instalment will usually be taken from

your current account too.This may mean that you do not then

have enough money to pay priority debts such as your

mortgage, rent, Council Tax, gas or electricity.

You should deal with the overdraft and bank loans like other

credit debts, and make an offer of payment you can afford.

 

they are saying treat an overdraft like you would any other credit debt??? im abit confused

[Undercover-Elsa]

Hi Carteroo,

Don't blame you for being confused, it's quite a complex subject!

It does come under the CCA to some extent but not in the same way as loans and Credit Cards in that it's exempt from some sections of the Act, and as a result there i,s no written/signed consumer credit agreement to request under Section 78 of the act.

However there should arguably be SOME documentation, ie the terms and conditions when you opened the current account, stating interest rates on OD's etc. and some Caggers are investigating whether the bank can legally demand repayment if they can't provide this documentation.

There's an informative thread here debating the issue.

In terms of repayment of an overdraft, as National Debtline says, it should be treated the same as any other debt, once the relationship with the bank has broken down and they start calling the OD in. Then you need to arrange a repayment plan. Obviously its important to check for any penalty charges on the account which would reduce the overdraft if refunded, hence the SAR. No harm in specifying in the SAR that you also require the original documentation relating to your current account overdraft facility!

 

Hope this clarifies it a bit

Elsa x

[carteroo]

thankyou for your help,altho how would i word the letter,i have used the sar template letter,but im unsure how to inlcude the parts of wanting the original documentation etc?

[Undercover-Elsa]

I'm on new ground here myself..

Maybe..

Please can you also supply a copy of the original documentation relating to my current account and overdraft, including terms and conditions and any letters notifying me of the overdraft limit.

[carteroo]

ok i will try that,thanks again for your help