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SCM Chasing Student Overdraft - Help Appreciated


Aristoc
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Hi...

 

I had a student overdraft with Lloyds TSB to the value of, I think 1550. At the start of the year they changed it to a classic account and started charging interest, which pushed me over the limit continuously. I am still in full time education and sent them a complaint letter asking if it could be reverted. They responded and said no.

 

I had to open a parachute account, which I now use, however SCM Solicitors are chasing me for the debt. I received from Lloyds what I think they're calling a default notice, but which was not in the prescribed form. I don't have that at hand right now, i'll get it scanned asap.

 

I have also received a letter from SCM saying they will issue court proceedings. However in between these SCM letters I have also received a bank statement from Lloyds adding interest and charges in the usual way. How can they do this if the account has been defaulted?

 

I figured SCM was just an inhouse scare engine like Mercers etc, but looking through the threads it would seem that they do actually issue court claims. I want to avoid this.

 

I can start a payment plan with them, but we're talking really low payments... Like I say i'm still in full time education and can barely support myself.

 

If they have shot themselves in the foot with this legal speak despite a dodgy DN and added interest, then i'd like to shoot them down asap.

 

The last letter was dated the 21st of Sept (I've left it so long :() so i'm anxious to fire a letter off this week... Any help would be appreciated... Should I write to SCM about the default and charges? Or should I just offer a payment plan for now?

 

John

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Oh crap so I have, will amend now...

 

I'll get letters up asap...

 

Thing is... That cant possibly be a default notice (it literally isn't a default notice - it doesn't mention a default and has none of the prescribed terms)... so what is it? And since it hasn't been defaulted, can they issue court proceedings? I would have thought that Lloyds would first have to demand the full amount and/or default/terminate the account before they could go ahead and claim for it, right?

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You think? They didn't specify the amount of the offer... I should just send one pound? I mean I can't see them taking that seriously, it'll just delay them a couple more weeks.

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You think? They didn't specify the amount of the offer... I should just send one pound? I mean I can't see them taking that seriously, it'll just delay them a couple more weeks.

 

depending on your situation ie ,employment /unempolyed, offer them a sum YOU can afford send them a simple letter .dear sir/madam in reply to your letter of the 21 sept, due to my current situation and after seeking addvice i can offer a token payment of £xxx .(enclose a p/o for the amount YOU CAN AFFORD) please note i wii not telephone your company to disscus this matter. i also request that any interest and charges be suspended, as not to inccur any more debt to this account thankyou for your understanding with reguard to this matter.

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In your circumstances £1 pm is all that a judge would award - then it would be fixed until it was paid off - so they won't do that. Send £1 pm with the letter above & get on with your studies.

Have a look at reclaiming your charges too!

I don't understand their enforcement notice - 1st para - "which part of the agreement have I broken?" "we can ask for our money back at any time" - if you have broken that part of the agreement then surely they won't be expecting anything to be repaid!

 

What date did you receive the enforcement notice? They should give 14 clear days to resolve the situation (after allowing for delivery). I noticed that they don't give an amount that will clear the default - £xxx plus interest - but how do you know what that would be???

 

They are asking for the full amount so they have closed the account & so should not be adding interest or charges.

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