Who takes priority?

[in the corner fighting]

My wife and I have debts totalling £45k to Lloyds TSB

(the CAB arranged £5 a month two years ago on each £35 a month in total)

These are 3 credit cards and 4 unsecured loans

 

All was well on keeping up payments and still would be but I have had a letter saying they want to review the payment.

 

Is it just likely to be that or in the light of charging order legislation is it more sinister.?

 

A little about us

 

The reason I fell behind is my health and I an now barely able to walk or use my hands and I am getting worse

and my wife is to put it kindly "confused" and suffers from athritis we are 68 and my wife70.

 

Last year we tookout a lifetime mortgage(or equity release) to pay of our interest only one and get some things to make the house more user friendly.

 

That was £50k from Aviva.

 

I don't like owing this money to TSB but I could not raise any more capital and we live on pension credit and attendance allowance.

 

So are Aviva the main priority debt and able to tell TSB where to go or not?

 

Am I just a silly old man who is worrying to much?

 

I would be very grateful for your help and advice.

 

BTW the last loan was given to my wife at 68 years old(with no income) £13,000 and a credit card with a £2,500 limit.

 

Like fools we spent that to survive as our health was making it almost impossible for me to work.

[dx100uk]

the priority debt, is the one that if not paid, removes the roof from your house.

 

it is quite std for 'lenders' on a reduced payment plan to want a review.

 

however, are under NO legal obl to supply them with any pers financial details.

 

IMHO I would get your 'earnings'

 

paid into a bank account under a group you have NO debts with.

 

have you looked at reclaiming might I ask?

 

PPI & PENALTY charges on loans/cat accounts/credit cards/mortgages etc are all reclaimable

 

dx

[in the corner fighting]

Thankyou for your quick reply.

 

No I did not take out PPI I was self employed.

 

I moved my bank account on the advice of a Lloyds member of staff as soon as I was in trouble,

she also told me to clear any money I had out of their account now

 

that was Feb 2011(obviously a loyal TSB staff member) and also told me to tell the Indian debt chasers I had no money and go away!

 

I opened an account with Santander.

 

Penalty charges on loans//credit cards I will look into.

 

I have paid all arrangements with TSB as arranged and on time.

 

I made it very clear at the time I did not want PPI and also the loans I signed for were NOT secured on my property.

 

Thanks again for your help so far,

 

its better than trying to work things out on your own and think of the worst outcome.

[Bazooka Boo]

Ensure that you keep everything in writing too.

 

Never discuss this over the phone with any of them, if they persist harassing you over the phone then there is a letter to send them, if they do ring, just tell them "everything in writing" and hang up.

 

Keep a diary of events, mark all their letters with the date you received them on.

[citizenB]

You could simply write them a note advising there has been no significant change in your circumstances and leave it at that.

 

Are they aware of your health issues ?

 

Have you been receiving statements from the bank and are they still continuing to add interest to the accounts.

[in the corner fighting]

CitizenB

In answer to your questions.

They were aware of our health issues in a letter from our Doctor 2 years ago. Since then things have got worse for both of us.Do you think its worth getting an updated one? Our Doctor was quite strong with then and told them to get off our backs then(that was when we had the Indian call centre 2-3 times a day)

 

We get letters/statements every six months on each account with words to the effect we are in arrears but keep paying the £5 on each account. Apparantly its a legal requirement for them.

All Interest was stopped 2 years ago when the CAB were involved

We are not in arrears with any payment plan agreed with them or anyone else for that matter

My concern is not getting stuck with a Charging Order or having to sell our house.

 

Give me something mechanical and I will understand it but financial things I am a complete numpty!

 

Again thankyou and other members of the Forum for helping me

[citizenB]

CitizenB

In answer to your questions.

They were aware of our health issues in a letter from our Doctor 2 years ago. Since then things have got worse for both of us.Do you think its worth getting an updated one? Our Doctor was quite strong with then and told them to get off our backs then(that was when we had the Indian call centre 2-3 times a day)

 

We get letters/statements every six months on each account with words to the effect we are in arrears but keep paying the £5 on each account. Apparantly its a legal requirement for them.

All Interest was stopped 2 years ago when the CAB were involved

We are not in arrears with any payment plan agreed with them or anyone else for that matter

My concern is not getting stuck with a Charging Order or having to sell our house.

 

Give me something mechanical and I will understand it but financial things I am a complete numpty!

 

Again thankyou and other members of the Forum for helping me

 

Righto.. well in that case, I would simply confirm that your circumstances have not changed and are unlikely to do so and that you will be maintaining the payment agreed.

 

It seems as though they are behaving themselves by providing statements, if only 2 or 3 times a year, at least you have a record of payments. The fact that they have ceased adding interest is definitely good as the debt will be reducing, albeit slowly.

 

If you receive anything else from them that concerns you, then don't hesitate to let us know and we can deal with it (if) it happens.

 

I would just say that that LTSB have behaved quite irresponsibly if they provided your wife with an unsecured loan given that your income seems to be limited!

 

For the moment though, It is my opinion that you shouldn't make yourselves more unwell by stressing about this. Just yell if you need any further help.. there is usually someone around

[in the corner fighting]

Thankyou citizenB I will definately take your advice. It is nice to know such a helpful bunch are around.

[citizenB]

[in the corner fighting]

I spoke to Lloyds TSB and were happy with the arrangements of £5 a month on each debt owed. Today I got a letter from Aktiv Kapital(uk) Ltd who advised me they had purchased one of the debt fron Lloyds and all further payments should be made to them. £1700 owed in total.

 

So Having had a quick Google of this lot I ask the following(BTW I do not dispute the amount)

 

1 They have asked me to pay them. I am happy to give them the £5 a month arranged by the CAB with Lloyds,do they have to abide by this?

 

2 Should I expect any shenanigans from them to try and squeeze more out of me and are they in their rights to do this?

 

I will not respond to them until I here(hopefully) from this forum.

 

Any other advice would be extremely welcome.

[renegadeimp]

If they have genuinely bought the debt and you had a notice of assignment from them, then they are obliged to continue repayments. However, before you pay them, you need to make sure they have the right paperwork to collect/enforce the debt. When a debt is sold, it is rare that the new owner has the paperwork. The debt is usually bad in one way or another or it wouldnt have been sold.

 

Even more so in your case given the size of the debt.

[citizenB]

If they have purchased the debt from LTSB, then they have purchased it with the obligation to continue with the payment arrangement with LTSB.

 

They may well write to you asking you to increase your payment. You response is as follows..

 

You had a payment arrangement in place with LTSB which you are happy to continue with. If they require you to use different bank details then they must provide them for you.

 

If they give you any grief or refuse to accept the payment arrangement. Come straight back to us and we will advise further.

 

You might want to have a read of the following article which should make you feel a little easier about your situation.

 

http://www.consumeractiongroup.co.uk/forum/content.php?840-Stop-your-bank-or-lender-breaching-their-instalment-agreement

[in the corner fighting]

Wow! 2 replies in nine minutes thankyou both so much!

[dx100uk]

what type of debt have a kleaners got?

 

dx

[in the corner fighting]

what type of debt have a kleaners got?

 

dx

 

Sorry I do not understand the question.

[dx100uk]

AK = what type of debt are they chasing

 

credit card, loan , OD etc

 

dx

[in the corner fighting]

My wife and I have debts totalling £45k to Lloyds TSB

 

(the CAB arranged £5 a month two years ago on each £40 a month in total)

 

These are 3 credit cards and 4 unsecured loans

 

also bank account that I forgot that is the one they flogged to Aktiv Kapital(uk) I think.

 

I will atempt to search through the mountain of stuff TSB sent over the last 2+ years

 

The CAB said bin it and just keep the statements every six months.

 

I have never defaulted on the payment plan above and make sure I never give them reason to complain.

 

I check my Santander account and make sure that all payments by standing order are paid on or before time.

 

what type of debt have a kleaners got? With you now:-)

[dx100uk]

have you ever had PENALTY charges on the OD

the loans (were they to refinance each other? ...got PPI]

 

like wise on the cards ...ref: reclaiming.

 

that would explain why they sold it

 

dx

[in the corner fighting]

The loans were to refinance each other.

It seemed every time I went into the bank to discuss my account I had such a "wonderful" credit rating I ended up with a deal

which ended up with me with a new larger loan(very stupid I now know)

 

Still I suppose they were trained well and were happy to put their commission before my best interests.

I was self employed so I never took out PPI on anything.

 

The account they sold was my current account,which they closed and turned it into a collection account.

I always had an overdraft facility and to the best of my knowlede never had any penalty for unauthorised borrowing as if I was close to the wire I always spoke to them.

That is why I ended up with more and higher loans.

 

What I don't understand is why any company would want to buy a debt that is being paid back at £5 a month unless they bought it for complete peanuts!

 

I will write more after I hopefully here from you but It is difficult to give you anymore information until I search about and see what other documentaion I can find

 

.Apparantly I can set up a standing order with them over the phone.

 

I don't think that is wise, do you?

 

I am quite capable of doing that myself with computer banking.

[2Grumpy]

Apparantly I can set up a standing order with them over the phone. I don't think that is wise, do you? I am quite capable of doing that myself with computer banking.

 

I don't think that they can. They could set up a variable direct debit that would allow them to drain your bank account but I didn't think that they would be able to set up a standing order

[in the corner fighting]

2Grumpy

From their letter and I quote,

You can make payments to us by:

Making a card payment over the phone on 0800 180 8422

 

Setting up a Direct Debit or Standing Order wth us over the phone

 

Paying directly to our account through telephone banking

 

To me that rather smells of Bovine Excrement on the standing order bit and I do not think it wise to give them my card details either!

 

Maybe a little late in life but just perhaps I am wising up a little.

[dx100uk]

no def not a dd nor card

 

how big is this loan?

 

somethings not right here and I've not spotted it.

 

dx

[in the corner fighting]

credit cards £17,000 approx(2 of mine 1 of my wifes)

current account £1,700( the one they sold off)

4loans £25,000 approx(3 of mine one of my wifes)

 

Figures are approx as I am looking for statements

[2Grumpy]

Have you made CCA requests on the loans & credit cards?

 

If the loans were to re-finance previous loans, there might be scope there for checking that the early repayment amount of the previous loans was correct if you have all of the documentation

 

It's strange that they would sell off the account that is definitely enforceable and retain the possibly dodgy ones

 

I would keep any everything about this in large envelopes from now on ... you will need to refer to it

 

It might be worth a SAR to LTSB to get all information about all of the accounts

[in the corner fighting]

Right I have my last communications from TSB(from copies sent to CAB who handled this 2+ years ago.

Credit card in my name £7,791.91

" " £7,328.05

" in my wifes name £1,672.68

Loan in my name £10,370.03

Their seems to be one missing in my wifes name for about £11,000 and one in mine

All dated 3rd June 2013.

All accepting £5 a month subject to a regular review.

All these payments have been made on time and not one missed or late.

 

On reflection I did get a letter 2or 3 months ago saying any money owing would be put towards clearing some of our debt or similar wording.

 

The reason for being vague is both my wife and I are disabled and our physical and mental health has been and is not goo

so as things seemed to be going along to plan it was a worry I could not deal with at the time.

 

The current account is the only one that would not be accepted by TSB as a standing order for some reason

but I paid that into a TSB branch using the slips provided by them.

 

I need to pay this by the 12th of this month TSB say they don't want it but pay Aktive kapital

I have their ident number and ref.

 

Who should I pay by Friday as I do not want anyone saying I am a late payer?

 

I will try and find what documentation I can but in light of the CAB saying it was all done and dusted I am not sure I have it all.

 

BTW Lloyds tsb online banking cannot be accessed by my despite the correct login,

it keeps coming up with the message" there is a fault at this time" so I cannot check this

 

May I have you advice on my next move please?

 

Thankyou all for the time and effort in helping us so far it is very kind of you