paddedcell vs LloydsTSB

[paddedcell]

Hi everyone

 

First off I'd like to say what a great site this is! Some fantastic advice on here. It's inspired me to take on the big boys !

 

I've been a 'victim' (rather than customer) of Lloyds TSB for some 13 years now. Not really sure why it's taken me so long to get so angry? My financial situation just seems to have got worse & worse over those years, with absoutely no help from my bank. Infact I'd go so far as to say that they are the main reason why I'm in such a bad situation now.

 

Anyway, I'll be sending my S.A.R - (Subject Access Request) letter shortly (will the 25 Gresham Street, London, address be okay?) but before I do do you mind if I ask a few very quick (and probably stupid) questions?

 

1 - will my attempts to reclaim rip-off fees affect my chances with an IVA?

2 - are IVA's good or bad?

 

I also have a big problem with a Loan I have with the Bank. My gripe is that they appear to be charging me £75 a month more than the 'standard'. I filled out a dummy application online, whilst not logged in, for £14k over 5 years (as per my original arrangement) and it'd be £270 - I'm paying £345. Of course they have the old 'based on individual circumstances' rubbish. My point is, knowing my circumstances as they did/do how can they justify charging me that much more? Surely it's not helping my ability to pay? Which leads me on to...

 

3 - could I include my rip-off loan repayment amount in my claim or as part of my 'case'?

 

Sorry for so many intro questions. Hope I don't get off on the wrong foot .

 

Many thanks in advance for your help.

 

Best Wishes

 

paddedcell

[firebreather]

hi, just to let you know i posted my letter to that address on th 21 aug recorded but it still is not there. there has been a couple of addresses posted at the beggining of the lloyds thread so i am going to send one there and if not sign one over to my local branch. good luck

[paddedcell]

Thanks for your reply firebreather, much appreciated. I'll send my SAR to the Gresham Street address.

 

Sorry to appear desperate everyone but does anyone have any thoughts on my other questions?

 

Hope to hear from you soon.

 

Best Wishes

 

paddedcell

[paddedcell]

Very sorry to bump myself but could I seek some advice from one of the experts & experienced members of the Forum here please?

 

I've been treading water for too long with LloydsTSB and I'm very close to ending up in Davy Jones' Locker.

 

I'm particularly peeved (being polite there) with my Loan situation .

 

Hope to hear from you soon.

 

Many thanks in advance.

 

Best Wishes

 

PaddedCell

[bearo]

yup i sent mine to gresham street, whereby apparently it gets redirected to somewhere in birmingham for processing, i have a really useful number for you, that if you wanted you could try for an address to make sure your letter reaches the correct dept quicker! (probably speed it up by 3-4 days) this number is for the dept that are dealing with all requests for data protection info, you are straight through and no holding! JOY! - (lady is really nice too - how about that!) 0121 633 5411

 

dont want to advise you too much on your other q's as i am sure there are people here more in the know than me about it... however it may be an idea to sent a request under consumer credit act and send £1.00 stat fee with it and ask for an orginal signed copy of agreement for that loan, depending on how long ago it was there is a chance they may not be able to locate it - making the loan then invalid and meaning that technically you do not owe them any more money as there is no agreement in place! - as i say i have read on many cases on the forum of people who have discovered this fact, perhaps you may be another?

 

Good luck with your claim!

Sharon

[elsinore]

Here's some stuff on IVA's which you might find useful

 

IVA Advantages

1. You only pay back a percentage of your debts. If you follow the agreed terms, you will be debt free in 5 years time. Up to 75% of your debt may be written off.

2. This is a legally binding solution so no further interest or charges can be added to the debt. Enforced by law. Creditors can’t change their mind once they’ve agreed. You also get protection against possible court action.

3. Agreed monthly payment plans will remain fixed unless your income level dramatically increases.

4. It is a private agreement – only you, your advisor and your creditors need know about it. There is no publicity in the local papers, as is the case for bankruptcy.

5. You can continue to practise as a professional person (i.e. accountant, solicitor, doctor etc) or as a director of a company and can hold public office, as an IVA does not affect your professional status.

6. You can open a regular bank account, without an overdraft facility and have no/fewer credit restrictions than if you go bankrupt.

7. You can safeguard your property, as the proposals can be made flexible to suit personal circumstances.

IVA Disadvantages

1. If you have equity in your house, an endowment policy linked to your mortgage, or valuable assets you may be required to release them in to pay your creditors. (This is usually done near the end of the arrangement). However this is preferable to repossession and enables you to safeguard and retain your home.

2. Normally, an IVA cannot be used if your total debts are under £15,000.

3. You must be able to afford to make an offer of repayment to your creditors. Generally you need to be able to afford monthly payments of £200 or more

4. If you fail to keep up the payments set out in the agreement, your creditors WILL be able to take other action against you, which could result in bankruptcy, and your home could still be at risk if not specifically excluded from your IVA proposals.

5. In their bargain to allow you to avoid bankruptcy, IVAs are expected to be for a longer period than bankruptcy (ie 5 years). People who go bankrupt can be discharged from bankruptcy within between 1 and 3 years. So it takes longer to be debt-free.

 

 

Elsinore

[elsinore]

 

1 - will my attempts to reclaim rip-off fees affect my chances with an IVA?

2 - are IVA's good or bad?

3 - could I include my rip-off loan repayment amount in my claim or as part of my 'case'?

 

S

 

1. The insolvency practitioner handling your case should be pleased with any lawful attempt you make to mitigate your financial plight.

2. See post above.

3. Depends on the details. It might be best left as a separate issue, but if you opt for IVA your IP will advise you. Do you have a copy of your loan agreement?

 

Elsinore