New to this forum - need some serious advice as to what to do - this could be long!

[JimmerJammer]

This goes back a long long way - basically my husband is rubbish with money, and always has been. He had two Lloyds accounts - one business and one personal although he is freelance and so treated them all as personal really. He had a £10,000 (yes £10K) overdraft facility on the business account and £500 on the personal. Year by year he was at the maximum with nothing to pay it with and massive charges each month. I should also say at this point that being in denial he kept nothing either and so I have very few statements. Anyway, every year they would offer him a £10k loan to pay off the overdraft and give him a new £10K overdraft to fill. To cut a long story short about three years ago he lost 80% of his regular work and they basically said enough was enough. So he had £10k overdraft, £10k loan that he had been paying for about a year and about 6/7 months remaining on his last £10K loan. Oh and did I mention the Lloyds credit card that he owes £14k on.

Both the loans and the credit card INSISTED he had payment protection on them, but of course as we all know, it counts for zilch when you are self employed. For example, he would pay the minimum on his card of about £250 and after interest and charges the amount he was paying off the debt was about £20.

The same goes for the loans. We went to the CAB who advised us to open a new account with a different bank which we did. He now pays Lloyds £250 a month at a high interest and so after about 9 months in he got a statement to say he had paid off about £300 of his debt and that at this rate it would take 27 years to complete! He's 50! Ha ha.

We have just received another letter giving us a deadline to respond to them about how we are planning to proceed and I wondered if there was any advice about what we should write.

Having written all this, I am now wondering if I have put it in the correct forum - I do hope so!

Thanks for reading, and really hope someone out there can give me a little bit of advice as to the best way to move forward.

[dx100uk]

oh! what a nightmare.

go through the step by step instructions.

send an SAR and £10 [only one £10 will be required for ALL the accounts with Lloyds]

 

then start the process of totting up the charges.

 

there is plenty to read in the Lloyds group, & all should become clear

 

goodluck & welcome Along

 

dx100uk:cool:

[JimmerJammer]

Hello. I certainly need an idiots guide here - this is overpowering to say the least!

I have only just found the S.A.R - (Subject Access Request) you mentioned!

 

There is just one question from reading all of this - the charges that are being claimed seem to be for going over the agreed overdraft - I don't think that happened with my husband - he was just charged massive amounts of money for it. Also the fact that both the Bank and Lloyds Credit Card insisted on him having payment protection for his loans is something I am keen to investigate - but am unsure how to go about this.

 

Actually there are two questions - if his main problem was with the business account (which they also suggested he should take out rather than keeping his personal account) does all of this still count - will the SAR letter still be applicable if it's on a business account level.

 

He was never in a position to get out of the mess as all the money he was earning at the time was going on loans and credit card minimum payments.

 

The thing is now we neither of us have much work and so there is no guaranteed income coming in but when we asked the CAB to get involved they wrote to Lloyds and never got a reply, in fact they never contacted us for a year before they started taking the payments.

 

Too tired now to think any more and off to bed, but getting in a right old panic as they want a reply by Thursday! Eeeek.

I would appreciate anyone's suggestions as to the best way to go as I feel it is not quite as simple as bank charges. Shame!

[dx100uk]

well it certainly looks like a case of ppi mis-sell as well.

make sure you include in the sar that you want copy of the signed agreement & PPI contract. adaptions exist for this.

 

as for charges, you can claim the lot on any account, as long as it is not intersted that is listed.

the business A/C will need a different SAR sent, which does not rely on the consumer credit act etc .

 

there are lots on here that will help, many more experienced than me.

 

get a list of questions up you need answering before you proceed anywhere asap

 

dx100uk:)

[JimmerJammer]

I'm sure there's a business opportunity here - for someone to start up doing one to one advice for people like me for letters etc. I am sooooo overpowered it's not true.

 

As the banks are expecting a letter by Friday - can we reply to that letter - and ask for SAR - it is from Customer Debt Management in Bristol? Also is there a template for a business SAR - I have searched around but can't seem to find it - there is a lot of stuff on this board and my head is hurting!

 

The letter says that the £250 per month he is paying towards the debt is not even covering the interest at the moment let alone the debt.

 

Oh my - I know why my husband wants to put his head in the sand - I am starting to feel the same way!!!!

[dx100uk]

sorry i've been on a 18hrs shift.

 

barring everything else you are contemplating doing, as something in the right direction, i would plead your case and use the 'please freeze interest letter in the DCA/creditors thread listed below. for the price of a stamp or two, it might atleast open up dialog with them & make them realise the seriousness of your situation.

if you do, don't forget to make a record of it for future use.

 

 

chin up

 

dx100uk:)

[dx100uk]

seem the sigs are not working

see below my earlier post

 

dx100uk

[JimmerJammer]

18 hour shift!!!! You make me feel tired just reading that!

Thank you so much for all your input - I have saved a copy of the no interest letter onto my laptop and am preparing the letter today to send guaranteed next day delivery.

 

Do you think if I go down the - take me to court route - that with our circumstances the court would not expect him to pay that much a month?

 

Also - would court ask for interest to be frozen. Thousands of pounds of this debt on both bank accounts and credit card is interest and ppi.

Makes me so angry.

 

Also - re the Credit Card - do I send them an SAR for charges and PPI agreement stuff?

 

Hope your asleep right now!!!

Thanks again

[dx100uk]

Do you think if I go down the - take me to court route - that with our circumstances the court would not expect him to pay that much a month?

 

cant see why you cant get most of this sorted outside a court, but i agree with your sentiment & it's probable outcome.

 

Also - re the Credit Card - do I send them an S.A.R - (Subject Access Request) for charges and PPI agreement stuff?

 

thats what i have done with 3 CC A/C for the O/H.

let them know what you are after from the onset.

 

Hope your asleep right now!!!

 

quite used to it & not thru having to do those hours either. i'm just a sucker to help out sometimes

 

dx100uk:oops:

[JimmerJammer]

Had terrible day for lots of other reasons - namely decided to have carpet put down - a teeny tiny landing and stairs - bought the carpet last year and have not had the money to lay it - decided to go ahead regardless as I am sick of looking at awful floorboards - so they came - and it was the wrong carpet!!!! I give up!

 

Sent the letter off to Lloyds Debt Management this afternoon by guaranteed next day delivery - decided to explain the whole history from the beginning as it is not documented anywhere - all phone calls - so did that including the fact that Lloyds never replied to CAB in 2005 and that our circumstances have changed so dramatically now that rather them increasing monthly payment from £200 to £300+ we offered £50 per month!!! Also asked for interest and any charges to be frozen and told them that we will be applying for SAR for both accounts and loans (plus I will send same letter to Lloyds Credit Card)

 

Exhausted now - just got my laptop back from computer crash (more money spent to fix it!) and am trying to find everything again.

 

I suppose now we just wait and see what they say.

I shall get the SAR letters ready next.

 

Are you asleep or working right now? Really REALLY appreciate your help.

Funnily enough OH was getting very shirty with me when typing letter because of the time the Post Office would shut - I did remind him that this was ALL his problem and that he could actually have started to prepare something in advance before I started. Silence!!! What a shock!

 

Regards

[JimmerJammer]

The more I spend on this forum the more I think we are not in the same position and won't be so successful.

I don't think my husband went over his overdraft until the last few months and so all his problems are from the interest charged on the overdraft and charges for PPI etc - I am feeling a bit despondent but relieved that the letter has finally gone anyway to see what they say.

 

Can't do anything now so will just have to wait and see I suppose.

The credit card is the same - paid minimun by direct debit but it was mostly interest and PPI.

[dx100uk]

well ithink you have done the best thing by putting it all down in a letter.

they cant be that heartless i feel to not help.

 

i can see where you are coming from with the PPI & charges.

 

though i think you have a cast iron case of mis-sell on the ppi so go for all of that

 

dx100uk8)

[JimmerJammer]

Hello dx100UK - you back from work!! Really appreciate your support.

Have you heard of something called Payplan? I am not sure if he should contact them?

 

Do you think it's still worth sending an SAR for everything just to see what they send back? Whatever it is they send back - is that ALL claimable or do you have to work out what you can get back?

 

I think I am too tired for this now - had bad infection the past ten days and doc gave me penicillin yesterday so feeling low anyway!

 

Can you believe the cheek of this - OH said to me tonight that I was getting obsessed and that I should stop reading stuff!!! Please - who's debt is this. I may not have any money but I don't owe any either!

 

Sigh.....

[stan5131]

Jimmer, you really must pursue this. I have worked out the charges for so many people now and am always amazed when people say they think it will be about £1,000 and its actually over £5,000. Most people dont even realise how much they have paid in charges.

 

Also the ppi is very important. This could add up to thousands. When I sorted out my friends finances, she had ppi on a Black Horse Loan, it was £9,000 on a £25,000 loan over 7 years. She was self employed, and didnt event know she had it!!!

 

Anything you can claim back to reduce the debt will help no matter how small it seems now.

[JimmerJammer]

Hello Stan5131

Thanks for the words of encouragement - I will pursue it - I am just confused as to what I can claim. If the interest charges are from the agreed overdraft then does that mean I can't claim it?

Same goes for the loans and credit card really. I am overpowered and probably not in a good state right now (being tired!) to think about it any more.

I am assuming - and please tell me if I am wrong - that I send an SAR to Lloyds about his two accounts and Lloyds Credit card - but does this also include the PPI or do I have to send a different letter for that.

Thanks again

really really going to bed now, but will look on here first thing in the morning.

[dx100uk]

just nicked this from boxer64 thread edit as ness:

 

Ref: Account xxxxxxxxx

Claim for : Refund Of Personal Loan Insurance Payments & Associated Interest.

 

Dear Sir or Madam,

 

 

On the 15/10/04 I was approved a loan for £10,000, I was advised that as a condition of the loan, a payment protection insurance(PPI) would be part of the loan; as it would insure payments would covered if I were to become unemployed or was unable to work. This was in the form of an additional loan totaling £2,997.72

 

It is fact that you are not allowed to make(PPI) a condition of a loan.

 

 

I telephoned to cancel the PPI insurance and was told that this was not possible.

 

 

I therefore consider that I have been mis-sold this expensive insurance, and request that a full refund of all costs incurred through the aforementioned PPI , including all associated interest.

And that the loan agreement schedule and payments be adjusted, to incorporate the removal of all costs associated with PP1and itself as detailed.

 

Quoting from the mentioned Personal Loan Agreement,“If unsatisfactory goods or services are obtained under a transaction financed by this agreement, I have the right to sue the supplier, yourself or both.

 

I would appreciate an immediate response to this letter that will conclude this matter as mentioned.

 

Yours faithfully,

 

hope it helps

 

dx100uk:D

[JimmerJammer]

Hello.

fed up today - he's grumpy - because everything is my responsibility and therefore my fault - I felt quite good about getting the letter off yesterday but he seems to have stamped on me and I feel deflated now.

 

Thank you for the PPI letter I have pasted into my documents so that I can have a read and a tinker.

 

Think I'll still ask for the SAR on accounts etc - do you send an SAR for credit card when you have paid minimum by direct debit?

 

I just LOVE living in silence!!!! thank god for the two dogs!!!

[JimmerJammer]

We have received a reply from Lloyds bank today which I am attaching and have a few points to make that I would appreciate any advice on.

 

 

 

Maria Nicholson

Case Official

Customer Debt Management

Springfield House

45 Welsh Back

Bristol BS1 4AG

 

Without Prejudice

 

Dear Mr. xxxx

 

Re: Your business accounts formerly held at xxxx Branch

 

Thank you for our letter of the 21st February 2007.

 

I note the contents of your letter and can advise that unfortunately the bank cannot accept your proposals to make monthly payments of £50 in reduction of your outstanding debt as the payment would not cover interest on a monthly basis.

However I have taken into consideration your circumstances and can advise that the bank has agreed to reduce your total outstanding debt from £30,984.38 to £22,984.38 please note that this is not an admission of any liability in respect to any complaints you may have against Lloyds TSB.

 

The banks offer to reduce your total outstanding debt by £8,000 is on the condition that monthly proposals of £150 are received for a period of twelve months, once 12 months have elapsed your payments will be reviewed with a view to increasing them. If you are unable to increase your monthly payments from £50 to £150 I will have no other option than to transfer your case to the banks external collection agents for the full outstanding balance.

 

Please can you contact me with the next 14 days to let me know how you would like to proceed.

 

I look forward to hearing from you shortly.

 

 

1 - I believe my husband's debt to be about £22K in the first place. He had two 5 year £10K loans one of which was four or five months away from finishing plus a £10K overdraft - so their amount of £30K plus never made sense and every time we asked the bank they agreed but never concluded.

 

2. Both of these loans were on the understanding that he had to have PPI even though he is self employed. Sadly he throws everything away and there are no copies of the original loans to read terms.

 

3. They have ignored the fact we said that the CAB wrote to them and they never replied and that every time we rang to speak to someone they were never there - so nothing was ever done. Should we go back to the CAB?

 

4. They have also ignored the fact that we have asked for the interest to be frozen.

 

5. I can do an SAR for them - but it would just show all our outgoings with nothing coming in right now. I am also self employed and have three days work in 12 weeks. We are living off my earning from Nov/Dec/Jan which will run out next month.

 

6. Help - not sure what to do. My plan is to reply and say that they have not answered the questions re the discrepancy with the first loan amount owing and the request to freeze interest. But can I also ask for copies of both of the loan agreements to see the terms regarding the PPI?

 

Thank you thank you thank you - sorry it's so long

[stan5131]

You really need to send SAR request to Lloyds. At same time, ask for a copy of the original agreement and a copy of the PPI agreement.

 

Sounds to me as though you have a lot more to come back than what they have offered. Stick to your guns.

[elsinore]

I agree with stan. For them to blithely knock off £8k at the first time of asking suggests that there is much more availaable. They might have added up the unlawful charges and decided to be prudent!

 

Els

[JimmerJammer]

stan5131 and elsinore

 

Thank you very much for those comments - I plan to sort out the SAR today and send it off. I am not sure who I need to write the postal order out to and who to send it to though. I am wondering if I send it to the debt department we are dealing with or somewhere else.

 

Also I will still need to reply to them as they have given us 14 days and so assume I should put that in my reply.

 

As I say I think the debt is more like the amount it should have been originally and so if there are charges and PPI to come back it should come of this amount.

 

Will the SAR show us how many payments have been made to the loans as that way I can see how many months really were left of the first one.

 

thank you so much again for taking the time to reply. I really do appreciate it as I am finding all this a bit daunting right now.

[stan5131]

Jimmer. Send the SAR to Lloyds head office. Dont forget to quote your account numbers for all accounts. Make sure you send by recorded.

 

You should get back a complete set of statements for each account. They will show ALL transactions on the account ie payments in, spending, new balances and ppi.

 

I am holiday from tomorrow but hopefully someone else will be here to help you. If you dont get a reply right away, just type 'bump'. This will put your thread to the top again and hopefully someone will see it.

 

Good luck.

[JimmerJammer]

stan5131 - thank you for that.

If you still manage to read this before your holiday I do have one slightly more urgent question.

Tomorrow is the last day of the month when we pay Lloyds. Do we pay the £50 offered in our letter which they rejected or £150 which they have said they will accept.

Have a great holiday - you probably need a break from helping everyone out - but it really is much appreciated.

Thanks again

[stan5131]

Jimmer, if £50 is truly all you can afford, then just pay that. They HAVE to accept payments that you can reasonably afford. What is the point of making an agreement to pay more when you simply cant afford it!

 

If they take you to court, then a judge will not make you pay any more than you can afford and they will be seen as being unreasonable.

 

Thanks for good wishes.

[JimmerJammer]

Ok many thanks for that

Can I ask on the SAR for the information to go back as far as 2000 when his original loan was taken out?

Thanks again