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Moorcroft/Lloyds TSB OD and me


teed_off
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HI

 

 

I am being chased by Moorcroft for an overdraft and they are the 4th DCA to chase. It is an overdraft and I did CCA Lloyds one was never produced. When I wrote to the other DCA's they sent the account back to Lloyds and even BLS wrote to me and I stll wrote back account in dispute - the last DCA was 1st credit and now moorcroft.

 

I have scanned in their letter and can Lloyds take you to court for an overdraft thats made up of their charges? I have SAR's them and at present going through the info.

 

Any advice gratefully recived.

 

 

 

 

 

 

 

 

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a%3E

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Overdrafts are at the behest of the bank - they can give them and withdraw them at will - and there is no agreement but you are still entitled to have a copy the letter stating the overdraft limit and interest rate. It seems strange that it has gone to 4 DCAs and there has been no court action. You could place it in dispute of the basis of it being made up of charges. You could also ask Moorcroft if they have bought this alleged debt. It may be that Lloyds have sold it and it is being passed on from DCA to DCA.

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Thanks Pinky

 

From the reams of paper work recived with the subject of access there is no letter about overdraft with interest rates etc and most definetly no default notice - nothing.

 

All I had was reams of statements and some other stuff with codes etc. Is there a dispute letter somewhere on here to send to them?

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Overdrafts are covered by the consumer credit act, just differently. Lots of stuff doesn't apply.

 

That's a misleading statement by Moorcroft.

 

Although they might be entitled to ask for the money back etc, there are processes that they have to go through and there are consequences for them if they get them wrong

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Thanks 2grumpy

 

I wonder if you would be so kind as to elaborate on the processes please and which of the consumer credit act applies to overdrafts etc.

 

Sorry am not well read in that respect.

 

Any advice is gratefully received.

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Hi Teed

 

Banks can get exemptions from most of the act if they apply for them, so there are no CCAs etc

 

The reason is that you can get an overdraft by asking for one (an authorised overdraft) or you can get an unauthorised overdraft by your account going overdrawn (and the bank changing lots for it - that is where they make lots of their money)

 

Regulations change slightly over the years, but you should have received a letter within x months of first using you overdraft telling you the interest rate, might also have to give you t&cs. Can't remeber whether x is 3 or 6

 

To demand the return of money, they should send an enforcement notice or a termination notice. Not sure what the enforcement notice is.

 

LTSB have told me that they don't have to provide copies of enforcement notices as part of a SAR, but I suspect that is really because they don't keep copies! I'm not sure how they would prove what they tried to enforce without an original copy though, plus I'm sure that the Information Commissioner would be interested.

 

I don't know whether LTSB accept telephone requests for an overdraft but there should be some sort of agreement before you got the facility (followed by the rates letter), or at least the interest rates letter after you started using the unauthorised overdraft.

 

There sounds like there might be some scope for disputing the account

 

Grumpy

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n.b. from the letter, it looks as though Moorcroft are keeping hold of this and are waiting for you to contact them with a payment offer.

 

I think that most banks view overdrafts as enforceable debts (because there's no CCA for them to lose) and so don't sell them off because they expect to get most of them paid back.

 

I would suggest looking at all charges that LTSB have applied to the account and calculating interest that would have been added because of the charges and subtracting that total from anything that you finally pay to LTSB. If you make it clear to them what you are withholding & why, they would have to sue you for the charges & show the reasonableness of them.

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Thanks for your reponse 2Grumpy. I have sent moorclots a bemused letter. As my train of thought is going down these lines - Lloyds have sent this account to 4 DCA's and 3 times it was passed back to OC. So am thinking that to put this in court they would have to supply some sort of evidence that I agreed to the overdraft and to supply termination notices and what else is needed and they haven't got them.

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Hi teed_off:)

 

Subbing with interest as I'm in a very similar position with Lloyds - outstanding o/d entirely made up of charges, third DCA on the case also Moorcroft.

 

Wishing you well with this,

 

Landy x

LTSB PPI on various loans (current/settled) - Refunded inc 8%

 

MBNA 1 Charges - Refunded inc CI

 

MBNA 1 PPI - Refunded

 

MBNA 2 Charges - Refunded inc 8%

 

MBNA 2 PPI - Refunded

 

MBNA 2 Accident Ins - Refunded

 

Swift Advances (settled) Mortgage Charges -Partially refunded

 

Swift Advances (settled) Mortgage PPI - Refunded inc CI & 8%

 

Sainsburys (settled) Loan PPI - Refunded inc CI +8%

 

Sainsburys (closed) Card Charges - Refunded inc CI + 8%

 

M&S Money (closed) Card Charges - Refunded inc CI

 

M&S Money (closed) Card PPI - Refunded inc 8%

 

Direct Line (settled) Loan PPI - Refunded inc CI + 8%

 

Debenhams Card (closed) PPI - Refunded inc 8%

 

Swift Mortgage Charges -Refunded

 

Hitachi Finance (closed) Charges - Refunded

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Hi Landy

 

Thanks for you response. Have done anything about it though? My bemused letter went off yesterday RD.

 

Have you Sent for a Subject of Access from Lloyds?

 

First sandbag has been laid.....

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Hi teed_off:)

 

I did a SAR last year and put in a claim for the charges which they of course declined to repay. Since the Test Case result they have upped the ante with sending out threat-o-grams and I always seem to be firing off something to the latest DCA :(

 

There was nothing in the SAR that I could find relating to the original setting up of the agreed o/d - although there was half a forest mind you and I could have missed something!

 

Don't really know where to go from here - I guess that if they were to put in a claim for the o/d the obvious thing to do is counterclaim for the charges.............

 

Good Luck with yours!

 

Landy x

LTSB PPI on various loans (current/settled) - Refunded inc 8%

 

MBNA 1 Charges - Refunded inc CI

 

MBNA 1 PPI - Refunded

 

MBNA 2 Charges - Refunded inc 8%

 

MBNA 2 PPI - Refunded

 

MBNA 2 Accident Ins - Refunded

 

Swift Advances (settled) Mortgage Charges -Partially refunded

 

Swift Advances (settled) Mortgage PPI - Refunded inc CI & 8%

 

Sainsburys (settled) Loan PPI - Refunded inc CI +8%

 

Sainsburys (closed) Card Charges - Refunded inc CI + 8%

 

M&S Money (closed) Card Charges - Refunded inc CI

 

M&S Money (closed) Card PPI - Refunded inc 8%

 

Direct Line (settled) Loan PPI - Refunded inc CI + 8%

 

Debenhams Card (closed) PPI - Refunded inc 8%

 

Swift Mortgage Charges -Refunded

 

Hitachi Finance (closed) Charges - Refunded

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