Llloyds TSB Loan

[RedCherry]

Hello I am looking for some advice about coming to an agreement with my creditors.

 

Situation so far - It's a little complicated so bare with me please.

 

I came into difficulty a few months ago when a contractor pulled out that I had been hired to be employed by for 12mths, I am self employed. I have been unable to find contacts with a salary that I used to be employed for resulting in a lower income, resulting in me not been able to pay my usual monthly repayments.

 

My parents have been paying two of my creditors and I have offered the third a lowered monthly payment (It was £340, I have offered £200) - they have not refused the payment but have not agreed to either as they want to know how the other creditors are been paid. I explained my parents were meeting the monthly repayments, fair enough I understand that they want a bigger cut but my current disposable income is £200 it could possible stretch to £300 after new year, so £300 split up three ways isn't going to even come near what I am offering them, I can't have what parents are paying off classed as income as it's not guaranteed so it'll come down what my personal disposable income been scrapped over by three creditors. The debt will never get paid off.

 

Is it time to take this to CAB and let them sort it out? I can't sleep eat and the woman on the phone was a right arsey madam!!! Stressed!!!

 

Slightly worried as my partner owns outright the house we live in and he's worried that it could be taken into account if they made me bankrupt.

 

Someone please advise me what to do

[sequenci]

Welcome to the forums, you're in good hands here. We have a wonderful support network.

 

Have you taken time to read my blog? It's a great place to start. You can find it in my signature.

 

CAB's are quite helpful, they can be VERY busy - you'll need to wait several weeks to get an appointment with a money adviser. Perhaps you can take a read of the blog and see if there is anything useful within it and then come back with further queries, concerns or questions?

 

Best wishes,

 

Seq.

[RedCherry]

Can I ask what the likelihood is that Lloyds TSB will freeze interest payments on two of my loans? My third loan is with Northern Rock and is a front loaded loan, it was a loan for £25,000 over ten years and now I have £24.980 left to pay even though I have paid it for 4 years, if they knocked the interest off i'd have very little left pay (wishfull thinking).

[sequenci]

So long as you follow the process it is very likely that Lloyds will freeze interest and charges.

[Spit]

lloyds have frozen the interest on my loan and overdraft

[Tingy]

What are you doing now? Good news on Lloyds, well done, but that sounds like it's only the start. Are you happy that you know where you're going or do you need further help?

[RedCherry]

Hello everyone,

 

Debts -

 

TSB - 2 Loans - 1st was for £15,000. 2nd £10,000.

Nothern Rock loan - balance is £24901.00.

 

I've been in and out of work for about 6mths and struggling to pay the above debts.

 

I tried to come to an arrangement regarding the Northen Rock loan by sending expenditure forms in but with no reply. Now I recieved a yellow slip from Allied International Credit limited saying that they are acting on Northern Rocks behalf.

 

So now I am unsure how to deal with the debt management plan now.

 

Can someone please please advise me on what steps to take.

 

Also can Allied International take my car?

 

I am still form filling for TSB who first told me I must deal with this via CAB then CAB telling me to set up a debt management on my own. Passed from one place to another.

[harrassed senior]

If you feel able to deal on your own, then with the help of this site is is perfectly possible.

 

First determine your priority debts, such as Mortgage, utilities etc.

 

Then list your other necessities, travel, food etc.

 

The final items on your lists is loans and credit cards etc.

 

Compare your monthly outgoings to your minimum weekly income.

 

The balance, if any is your disposible income. This is the amount out of which you can offer affordable repayments.

 

Now, having said the above, have you checked the validity of the Agreements for the loans you mention, if not, this may be the way to go. We have plenty of template letters so we can advise every step of the way.

 

Keep cheerful, plenty of help will be forthcoming.

[RedCherry]

The trouble I am having is the jobs that I am doing are tempoary so I can not commit long term but Northern Rock didn't seem to even entertain my 3mth debt management plan then a review. Now all I have is a yellow slip from Allied International (I have had no formal warning that Northern Rock have passed this debt on) and what worries me is that years back I ran into some trouble with some small debts where the debts were passed on and I ended up with 5 debt collection companies chasing me all for the same debt and I am very concerned that this will happen again.

 

Should I be requesting something more formal from Allied International?

 

When I have spoke to Allied International they told me I was more or less bankrupt and if they didn't hear from on such and such a date they were passing the debt back to Northern Rock. I have called the woman back today and she told me she would call back but never has. What should I do?

 

"have you checked the validity of the Agreements for the loans you mention, if not, this may be the way to go. We have plenty of template letters so we can advise every step of the way."

 

Could you explain a little further on checking the validity of the agreement terms of the loan please as I am a little unsure what you mean.

[RedCherry]

Please someone help

[Bazooka Boo]

Relax, there is nothing they can do overnight stop panicking.

 

Northern Rock (NR) is owned by us, so they have very little room to be casting stones!

 

When were these loans taken out? Did you take out any PPI on any of them?

 

Do your own I&E sheet http://www.nationaldebtline.co.uk/england_wales/budget_sheet.php?country=england_wales

 

STOP talking to them on the phone, you will have no evidence of the content of any conversations, unless you are able to record your phone calls.

 

Keep EVERYTHING in writing, and keep a diary of events, especially where the phone calls are concerned, if they ring in future just tell them "Everything in writing" and hang up. Whatever they wish to say, can be committed in writing.

 

Did the colourful yellow card come in an envelope? Who does it say to contact? Mr Dickey?? Either way don't ring them, it's only an answer phone.

 

Taking your car is a lifetime away if at all, so don't worry about that.

[RedCherry]

Should I request a CCA from Allied International?

Should I request something more formal from Allied international to prove they are officially acting on behalf of NR?

The yellow card has a reference number but it has no reference number from the NR loan. I already have contacted them but they just advised me to go to CAB as in her opinion I was technically already bankrupt they want me to inform them what CAB said and that if they hadn't heard from me from such and such a time that they would pass the matter back to Northern Rock. I have had no formal letter from Northern Rock advising me that they have passed the debt on.

 

On the card it requests the full amount to be paid (Yeah like I have that sort of money) or should I wish to discuss my account please contact urgently call : Mr A Dickey (NAME FITS) ON 0141 22 83052

[Bazooka Boo]

Please read my reply, and answer some of the questions.

[RedCherry]

The loan was taken out in 2006 and no there was no payment protection insurance due to me been self employed.

[Bazooka Boo]

OK, what month in 2006? before July??

[Bazooka Boo]

Was the yellow card sent in an envelope?

 

http://www.consumeractiongroup.co.uk/forum/content.php?414-CCA-request-letter.

 

You can send the CCA request for each of the accounts, enclose £1 postal order with each of the requests. This goes to whoever is demanding money from you, do you know if there are any charges or fees that have been added to your accounts? Late payment fees, failed payments etc?

[RedCherry]

OK, what month in 2006? before July??

 

It was in September 2006.

[RedCherry]

Was the yellow card sent in an envelope?

 

 

It was in a white envelope.

[Bazooka Boo]

Were they taken out online or on their premises?

 

If it was the latter then you can send them the CCA request linked above, if it was the former then these will be seen as being legally enforceable.

Are there any charges applied to these accounts which you can reclaim?

[RedCherry]

Was the yellow card sent in an envelope?

 

You can send the CCA request for each of the accounts, enclose £1 postal order with each of the requests. This goes to whoever is demanding money from you, do you know if there are any charges or fees that have been added to your accounts? Late payment fees, failed payments etc?

 

Well the Northern Rock Loan was applied for online but I still had to sign a credit agreement and send it off to them so they could release they money.

One TSB loan was applied for in the local branch the other was applied for over the phone I still signed all the same paper work that I signed in branch for all three loans.

 

Allied Internation called me today and honestly I am disgusted with the person I dealt with on the phone - CAB brought a insolvency solicitor in as my partner owns the house we live in outright and they were concerned about it's saftey if the worst such as bankruptcy happened and now I have to go back to CAB for advice on Debt Management plan as advised by insolvency solicitor. I advised Allied International that I have an appointment with a CAB debt advisor however the Insolvency solicitor advised me to make a token payment of £5 per month until a formal arrangment has been made, I requested a payment card or a letter with giro slip to make payment and wow her response was "Well we only take payments over the phone" after me getting very annoyed she informed me she would give me the company bank detail with HSBC and I could pay it in and then they'd send me a reciept. I explained I did not feel comfortable doing that and as I have had no formal letter from either NR or Allied Internation (All I have had is a yellow slip) so I much would rather have some kind of formal letter to advise me that Allied Internation were responsible for the debt followed by a payment card or a paying in slip to ensure I was able to ensure that the money was been paid off the correct debt, well she went mental!!! Her aggressive tone and attitude was quite shocking " We dont send letters Ms XXXXX " so I thought i'd ask for the original credit agreement since she was in such a good mood " We are not responsible to supply you with any such documents Ms XXXXX " and then told me I was being abusive and that she had spent 10 mins talking to me and that was more than enough WTH???? My tone never altered throughout the conversation and I didn't realise there was a time limit as how long I speak to an advisor!!! I then requested if she could supply me with a letter for A) That they are now responsible for the debt (well something more than a yellow slip) and B) That they are not responsible for supplying me with a copy of the original credit agreement - she put the phone down on me!!!!

 

How on earth are you supposed to deal with people like that? I mean I am quite a fiesty I would dread to think that they were talking to someone old or voulnerable.

[Bazooka Boo]

Well at least you have learned the hard way.

 

DO NOT speak to them over the phone gain EVER! This is exactly the level of conversation you will receive, the poor deluded sad fool on the other end of the line, has NO LEGAL qualifications and NO training or knowledge surrounding their petty careers, they work on commission and only get paid the bare minimum, UNLESS they are lucky enough to contact someone who has no idea as to their legal consumer rights.

 

Do you know if there are any charges that have been added to these accounts? Late payment fees?

 

Have you completed your OWN I&E form yet and worked out what you can realistically afford to pay them?

 

Whilst I don't think a CCA request will put the kibosh on any of these agreements, I am inclined to make it as awkward as possible for the likes of Allied to get blood from a stone.

 

You could send them a CCA request http://www.consumeractiongroup.co.uk/forum/content.php?414-CCA-request-letter. enclose £1 postal order and DO NOT sign the letter or PO.

ALWAYS PRINT your name in any correspondence to them.

 

You can if you wish, send it via recorded delivery, however I would send it 2nd class and obtain "proof of posting" from the Post office, this is all you legally require to prove delivery of your letter. (and it's cheaper)

 

Once you have sent it they have 14 working days in which to reply with the request, if you send it recorded delivery then they have 12 working days from receipt of your request to comply, failing which you can place the account in dispute and withhold all payments until such time that they do comply.

 

However I don't think that there is going to be any problem due to the age of this account, just makes them work for their ill gotten gains!

[RedCherry]

As for charges I so far have accured any I don't think.

 

I did lend the money so I fully intend to pay it back but at a rate I can afford what my main concern is from Allied International is that all I have is a yellow slip no formal letter containing the original reference number from NR or any letter from NR instructing me that they are now responsible for the account. Also how do I go about making token payments if they won't send me a payment card or giro slip with a letter attached? Surely they can't demand payments from payment cards only? When I make a payment I like a reciept as soon as I hand the money over.

 

Could I issue token payments directly to NR as they have not sent me a letter saying that they have passed the debt on?

 

Regarding unenforecable debts if they don't have the credit agreement does this mean that they can't obtain a CCJ easily? That they can only persue payments?

 

When I have looked up on unenforceable debts the info I can find is that the CCA was adjusted in 2006 but some info stated that some credit obtained before April 2007 could be classed as unenforceable if requests for information about the original CCA was not fullfilled.

 

I am also aware of some test cases and have read information on the OFT website.

 

I am not trying to wipe my debt but more a chance to take away a little control from debt collection company.

[Rocky Roadster]

Hi RedCherry.

 

I have had debts passed on to AIC, and I took their calls at first and all I got was abuse and threats which made my heart condition worse.

They are a dreadful company and only succeed by bullying, no reason or compromise. Now I won't speak to them and only deal in writing. They do send letters out but sparingly. Worth sending the telephone harassment letter to them.

The yellow card is meaningless. It is just to frighten you. Bazooka Boo is right. Send them a CCA request and that should stop them harassing you for a while at least.

IAC, in my opinion, won't to go to court and rely on threats and bullying tactics alone.

Good luck,

[RedCherry]

I recently sent a letter to TSB over my current loans which are in arreas I requested all contact in writing, a request that the interest could be frozen and for income and expenditure form to be sent.

 

Now they must have recieved the letter as all phone calls seem to have stopped but they have not responded to my requests for a income and expenditure letter or about over the interest to be frozen.

 

They keep sending me demanding letters, how can I set up a debt management plan if they will not respond to my letters?

[silverfox1961]

Hi. Did you not send your letter by recorded delivery? If not, i would send it once more. If you can't prove they received it, they may just deny getting it. If you did send it RD then complain. They 'allegedly' abide by the lending code.