Brother and Problems paying Lloyds

[Ftgab19]

Hi all again,

 

Not to long ago I told my brother to request a payment holiday to Lloyds so he could save a bit of money to get back on track with his debts.

 

Lloyds have since asked for him to send a budget sheet before they can do anything.

 

What he owes:

 

Lloyds Loan:£873

Loan to father:£100

Current Account Overdraft: £110

 

He doesn't want anything on credit file so he is willing to pay what they say if that's the only way to keep them off is credit file. I will upload his budget sheet for everyone to see.

 

Could anyone advise what would be best for him to do.

 

Thanks

Andrew

[Guest]

thing is with things on credit file, such arrangements may be recorded on file. which may affect credit worthiness. never know with them. but, sometimes with a short term reduced payment they wont adversely adjust cra files

what is the goal re having nothing on credit file?

whatever happens, communicate in writing. dont rely on what they say on the phone.

[KSmith82]

Is this an official payment holiday as per the loan agreement? Or are you trying to come to an arrangement outside of the terms and conditions?

[Ftgab19]

The goal ford was to get him back on track and do as little as we can to the credit report. He will want to get a loan for a car in the next few months so he wants to leave the report alone and even pay what the say if it means Lloyds messing his report up.

 

Andrew

[Guest]

as a 'clean' cra file seems most import. maybe then see if can get on one of those internal 'payment holiday' plans ksmith mentioned that dont adversely effect the cra file.

loyds used to do a temp reduced payment plan re a credit card that wasnt reported adversely, ie was reported as normal payments. dont know if they still do though. or whether it cld be combined with the o/d. may need to deal with the o/d separately.

check the ICO website re their guide re how things could be reported on a cra file.

[Ftgab19]

Thanks ford,

 

How would I apply for a internal payment holiday? I already sent Lloyds a standard payment holiday letter and they just sent my brother back a budget sheet. Should I just send them back the budget sheet I uploaded here?

 

Thanks

Andrew

[Guest]

not sure.

that temp plan mentioned used to be poss over the phone re their (unreliable) indian collections centre. dont know if thats still poss.

cld try going in branch, speak to an account manager, get them to arrange and confirm it.

must get confirmation though that cra files wont be adversely effected, as thats what you want.

seems what you're looking for is a 'payment holiday'/temp reduced payments (which wld prob include some interest). either of which not affecting the credit file. they might need some income/expend info though, dont know.

[KSmith82]

Apply through internet banking or call 0800 096 1282.

 

See: http://www.lloydsbank.com/loans/existing-loan-customer.asp