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cjhooker

It's Complicated lloyds and wescot

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Hi CJ

 

It only becomes stature barred if no payments or acknowledgement have been made for six years.

 

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Ah, thanks for that. So if I default on my payment plan now it will go back on my credit record? Man, I'm never going to pay off this debt!

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I'm not sure they can default it again, I think it can only be defaulted once BUT I'm not entirely sure on that.

 

I'm sure someone with more knowledge on defaults will let you know :-)

 

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It can only be defaulted once so if they do put anything on your CRA files just get it taken off.

 

Lloyds like to chop and change DCA's..

..guess whoever gets them the best deal gets the work plus DCA's get paid on commission so they like the accounts that take a couple of calls to get big money in.

 

People like you that pay what they can afford over a very long period don't interest them.

 

I guess you had a Lloyds bank account so any charges for missing payments etc will be on that account.

 

You should also check how long after you defaulted they moved your account to their debt collection section and froze interest.

 

Mine took nearly 6 years to move and over £3k of interest was added.

 

 

I got them to remove that from the balance.

 

Hope this helps

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IMHO i would SAR lloyds

 

dx


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Hi, thanks for your replies guys. What would sending them a SAR achieve for me?

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gets your all the statements

to confirm PENALTY charges .

 

dx


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As long as the SAR covers all Lloyds accounts that the OP has/had. As I said my Lloyds loan charges nvere went near the loan account, they bounced the payments and then charged the current account £25. So the loan account in isolation looks like it has no charges at all.

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hi,

i have a very old debt from a lloyds account and loan (in 2001 and for £10k) it was handed over to a Debt Collection Agency in approx 2004

i have paid 40 pound a month ever since. o

 

ut of the blue the DCA has sent me a letter saying i can offer an amount to pay it off.

 

two questions ,

will they except a low offer? and

will it appear on my credit score if i start negotiating/paying it off?

 

its taken me years for it to finally be off my credit report and i dont want it reappearing!

thanks for your help.

chris

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Edited above you mean Debt Collection Agency not credit agency.

 

Providing you stipulate that any offer is in full and final settlement and you get that conformation in writing...then its your choice to settle it.No it wont reappear on your CRAs.

 

However.....who is the DCA ? and have you ever requested a copy of this loan agreement from either the original creditor or the Assignee (DCA) ?

 

Andy


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Thanks Andy the dca is wescot credit services, I have never asked them for a copy of the loan agreement.

 

I'm worried about the credit report because the letter says

'please note if you chose to repay your account by a settlement this will be recorded on your credit file as being partialy satisfied but you will not need to pay the remaining balance. This information will remain on your credit file for 6 years from the date of default '

 

I'm guessing because the default was over 6 years ago it won't be added? 

 

How low can I offer to settle? 

Cheers. 

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who are wetcloths clients please?

shame you've been blindly paying this off for so many years running the SB date to infinity.

a dca are NOT bailiffs!!

 

should have been ignored from day one!

 

 

 


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7 threads merged on this Lloyds debacle

now going to read the whole story again.

 

 


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

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Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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