Lloyds - Statement of Personal Details

[breakaway]

I have to make a call to Lloyds tomorrow and wonder if someone can give me some advice so I am better prepared.

 

Unfortunately I had to close down my business about 18 months ago leaving me with a Personal guarantee of around £90k to deal with.

 

The bank had taken a second charge against my house when I took out the business loan. The business had made all the repayments in full and on time until we closed.

 

I was fortunate to get a job fairly quickly and i negotiated with Lloyds to continue to make the monthly repayments personally at the same level as the business had been making.

 

I set up a standing order just over a year ago and all payments have been made on time and the balance is coming down.

The loan has about 4 years left to run (it was originally 10 years).

 

I have today received a letter from them saying that they need to carry out an annual review

and asking me to complete a form with details of all my assets, liabilities, income and expenditure.

 

Am I within my rights to refuse to do this as I have not defaulted on any of the terms or conditions of the loan?

 

I don't really understand why they want this information - it will just show them that actually I can't afford to make payments at the level i am making them!

 

I have been living with my partner for 6 months and he pays all the bills so I can make the loan repayments.

 

The form also asks for his income, expenditure details but I don't see why they have any right to that information.

He was not party to the business or the personal guarantee.

 

My gut instinct tells me they don't have any right to this information while i am continuing to make full payments but i don't want to go in all guns blazing and put their backs up.

 

Any advice please?

[honeybee13]

Hello there.

 

I note that you need advice before tomorrow if possible and have flagged this to the site team in case anyone can help.

 

My best, HB

[dx100uk]

i agree

 

a friend had one of these for his sole trader business loan.

 

refused to fill it in & stated in a letter that they would not be attending the metting

as felt there was no need.

never heard from them again

 

dx

[breakaway]

Thanks to both of you for taking the time to respond.After I posted I had a quick look around the site and the general opinion seemed to be only a court can insist on you giving all your personal details.

 

To be honest if they'd been a bit more reasonable I would have probably co-operated but the information on the form was so detailed and intrusive it put my back up right away.

 

Not only were they asking about my income and outgoings but they were asking for information about my pension, insurance policies, savings, whether I had any children at university, how much equity was in my house, full details of my employer etc.

 

Then they also wanted all that information for my partner who I didn't even know when I took out the loan!

 

I remembered my golden rule never to deal with them on the phone so I have decided to simply return the form without the details filled in, with my proposal to continue paying at the current rate (which is £1 500 per month by the way!) and see what happens

Edited November 23, 2012 by citizenB
formatted

[honeybee13]

Hello again.

 

Good luck with it, please let us know if you need further advice.

 

HB

[citizenB]

Simply advise that there has been no change in your circumstances that would permit you to contribute more to the debt.

 

If you are paying the same as you were when you had the business, I dont see what their problem is !!

 

Some of the questions they are asking are far outside what is necessary IMHO.