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DennisTheDog

Complex Debt Situation

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totally agree

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Unless is to make a formal complaint, do not make any contact with Apex or the bank.


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

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A few weeks ago, I put in a PPI complaint in against lloydsTSB, MBNA and Santander. LLoyds and MBNA have confirmed the reciept of the complaint and are looking into it. Santander have not even replied.

 

It seems to have set the cat among the pigeons at Lloyds TSB credit card department;

 

today I got this letter dated October 2012 - With No date.

 

From 1 January 2013 we're changing your credit card agreement with us and adding a new condition to

your existing lerms and conditions.

 

It's important we tell you about this change as your credit card account is currently in default and there's

still a balance owing -although you may have a repayment plan in place with us to reduce this.

 

We've included the new condition below for you to read.

 

New Condition -15.8

 

If we owe you any money in connection with any transactions,

interest or charges on your account

we may use that money to reduce any arrears you owe under this agreement.

 

If we intend to do this we will tell you when we offer to make a payment to you.

 

We will also follow any relevant guidance in a Code of Practice that applies to us, or as required by our regulator or another similar body.

 

There's no need for you to do anything else, but if you would like more informotian an this change, you

can call us an 0845 600 4580.

 

Yous Sincerely

 

Mark Powys

 

Head of LLoyds TSB Credit Cards

 

 

Can they just arbitrarily do this?

 

I have other creditors

 

A couple of years ago I asked them for a signed copy of my credit agreement - over a dispute about a car I'd bought on it and they would not support me against the Garage who sold it me - and they said they had not got one. So how can they change the game like this?

 

Any one who could advise me on this I would be very grateful.

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Hi Dennis, my guess is that they are trying to limit any repayment off PPI if your claim succeeds they will offset against the balance.

 

Maybe a letter to their compliance department stating that they have already informed you that they do not have an agreement therefore they cannot amend it.


Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

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Hi Dennis, my guess is that they are trying to limit any repayment off PPI if your claim succeeds they will offset against the balance.

 

Maybe a letter to their compliance department stating that they have already informed you that they do not have an agreement therefore they cannot amend it.

 

The PPi claim was against a loan I took out with them, not the credit card, I thought that the card and other sections were separate. Also if they were to change things in other ways - like a change to the interest or minimum payment percentage - they had to give me the opportunity to close the account and pay off the balance according to the old conditions. Does that change because I'm in default?

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Hi there, I have had a 2 letters in one from LloydsTSB concerning the credit card,1st one with the Lloyds letter head goes

 

As we haven't been able to agree a suitable repayment plan we've transferred your LTSB Credit Card Account to a

debt collection agency, Apex Credit Management Limited. We've instructed Apex Credit Management Limited to

arrange collection of the outstanding amount.

 

The second one - in the same envelope -with the Apex letter head goes

 

Apex Credit Management has received instructions from our client, Lloyds Banking Group, regarding your above 5

account. Our role is to act as an intermediary between you and them to ensure that the debt is repaid

 

Is this a formal notice of assignment?

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'assignment' re collection, yes. assignment re a sale, no. ie is still with loyds but now externally out for 'collection'.


IMO

:-):rant:

 

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'assignment' re collection, yes. assignment re a sale, no. ie is still with loyds but now externally out for 'collection'.

 

 

Thanks. their language is so confusing. You see on my overdraft they stopped me paying into my account and Apex wrote to me.I'm a bit confused by all this.

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looks like cred card matter has also gone to apex.

an o/d wouldn't involve an agreement like that with a cred card, but should involve an o/d facility letter instead. unless o/d is after feb 2011 in which case there are further new requirements re an o/d

that 'new condition' you mentioned seems to be their standard variation attempt to ensure that things like any ppi repayments for eg are paid towards any outstanding debt.

Edited by Ford

IMO

:-):rant:

 

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A few weeks ago, I put in a PPI complaint in against lloydsTSB, MBNA and Santander. LLoyds and MBNA have confirmed the reciept of the complaint and are looking into it. Santander have not even replied.

 

It seems to have set the cat among the pigeons at Lloyds TSB credit card department;

 

today I got this letter dated October 2012 - With No date.

 

From 1 January 2013 we're changing your credit card agreement with us and adding a new condition to

your existing lerms and conditions.

 

It's important we tell you about this change as your credit card account is currently in default and there's

still a balance owing -although you may have a repayment plan in place with us to reduce this.

 

We've included the new condition below for you to read.

 

New Condition -15.8

 

If we owe you any money in connection with any transactions,

interest or charges on your account

 

we may use that money to reduce any arrears you owe under this agreement.

 

If we intend to do this we will tell you when we offer to make a payment to you.

 

We will also follow any relevant guidance in a Code of Practice that applies to us, or as required by our regulator or another similar body.

 

There's no need for you to do anything else, but if you would like more informotian an this change, you

can call us an 0845 600 4580.

 

Yous Sincerely

 

Mark Powys

 

Head of LLoyds TSB Credit Cards

 

 

Can they just arbitrarily do this?

 

I have other creditors

 

A couple of years ago I asked them for a signed copy of my credit agreement - over a dispute about a car I'd bought on it and they would not support me against the Garage who sold it me - and they said they had not got one. So how can they change the game like this?

 

Any one who could advise me on this I would be very grateful.

 

thats a std letter to EVERYONE that holds multiple accounts with LLoyds TSB

 

i've got three here.

 

in effect, nothing has changed

 

they always could offset upon debts within the 'group'

 

as long as the accounts that are in debt are SOLD

 

they cannot offset

 

they also cannot offseet unless they have REGULARLY [6 monthly]

 

sent you a letter called a NOSIN.

 

Notice Of Sum In Arrears.

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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looks like cred card matter has also gone to apex.

an o/d wouldn't involve an agreement like that with a cred card, but should involve an o/d facility letter instead.

that 'new condition' you mentioned seems to be their standard variation attempt to ensure that any ppi repayments for eg are paid towards any outstanding debt.

 

 

I am not sure the PPI thing is legal. When they wrote to me formally informing me of the default, they said they were "Automatically terminating the agreement". If they have done that how can they alter it? Or if they have no True Copy?

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thats what i mean, an 'attempt' and is 'standard' flyer as dx says. but as you say if agreement ended, then how can they vary it.

Edited by Ford

IMO

:-):rant:

 

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thats a std letter to EVERYONE that holds multiple accounts with LLoyds TSB

 

i've got three here.

 

in effect, nothing has changed

 

they always could offset upon debts within the 'group'

 

as long as the accounts that are in debt are SOLD

 

they cannot offset

 

they also cannot offseet unless they have REGULARLY [6 monthly]

 

sent you a letter called a NOSIN.

 

Notice Of Sum In Arrears.

 

dx

 

Thanks, it is just very alarming.

 

I am what probably be classed as a vulnerable person

- bipolar

 

- so my capacity for dealing with this varies greatly according to what mood I am in.

 

Some times I think panic mode sometimes I could not give a bugger

 

some times it feels like it has nothing to do with me.

 

I am thinking of complaining to their compliance department as what they have done is so confusing.

 

By the way,don't mean to be obtuse but what does SOLS mean?

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IMHO i wouldn't waste the INK!!

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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There have been some developments of late.

 

LLoyds have coughed up on the PPI for a loan from four years ago,

 

The negative is that they only gave me 8% simple interest, that works out at less than 2% per year, when they charged me 20%.

 

I have not replied to them, I am scared to cash the cheque.

 

I asked them for a true copy CCA on my credit card what they sent back was duff See below on another post i made tonight.

 

Since I got the letter, I have been getting calls from a company called Wescot - I don't know who for as they never leave a message.

 

I just have the feeling that they are planning something nasty in revenge for my claim.

 

Maybe even a move to BR now that they have something to go for.

 

I want to try and arrange FFO's with my creditors,

but I don't think that I have enough with just the simple interest and I don;t think that LLoydsTSB are going to give me the chance to.

 

Can anyone suggest a positive course of action, do I hang on to the cheque or cash it?

 

I applied to LLoydsTSB for a true copy credit card CCA card CCA.

In the same letter I also asked if they had assigned the debt and if they had could they send my a copy of the deed of assignment.

What they sent back was not a true copy, it had the wrong address on it and bears no resemblance to anything I've signed credit card wise.

 

Also it bore what I could only describe as a tirade against me engaging companies that promise to write off debt with extracts from the ministry of justice etc.

 

At the same time I sent of a SAR, duly signed on an anti-tamper seal, pretty sharpish

- basically at the same time

- I got a reply back with a form asking for my signature

- or alternatively suggesting that I nominate a branch to pick up the data.

 

What do I do? I don't want to attend a branch

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if they have the monthly PPI premium correct

 

it is only 8%

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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if they have the monthly PPI premium correct

 

it is only 8%

 

dx

 

It was a lump sum PPI, paid at the start of the loan.

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and thats divided by all the months of payment see '0' below

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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