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I write asking for advice with regard to a now 4 year old issue with Lloyds Bank.

 

My wife and I divorced in 99 but still remain on good terms. Both Tricia and I banked with LloydsTSB. We'd banked with Lloyds for over 20 years and had nothing but good service....or so we thought. Anyway, from being one of their Gold account customers, we found our Branch Manager of long standing, had taken early retirement due to stress. Shortly after this, we then found ourselves falling into the Lloyds bank washing machine of 'I'm your new Bank Manager' based christ knows where. And as with most Lloyds customers, we embarked on a merry-go-round of: Hi, I'm your new Bank Manager...every second month or so!

 

My point in writing is so: My ex wife was a director of a limited company. She took a loan out prior to all the Lloyds changes with her then long standing Manager. In doing so, he advised that she should take out some load protection in case things didn't go so well...and this she did in the event of Redundancy or i'll health etc.

 

In March 2002, her company folded and she called upon Lloyds insurance policy. Withing two weeks, she was told that as a Director of a Limited company, she could go whistle as far as the insurance company was concerned. Tricia failed to make the payments on the loan and Lloyds commenced recovery. This had a knock on effect, as they froze both her bank account and credit card arrangements with them. Basically, she became a financial Lepa over night and her credit rating crashed beneath the surface of zero.

 

So now Tricia had: a bank loan to repay in full....or else, an overdraft to repay in full...or else and a credit card balance to repay in full...or else! Non of the safeguards she'd put in place meant a bean...and still worse, my account with them had been frozen, even though they knew we were divorce and by 3 years!

 

For me things weren't so bad, i had no credit whatsoever with them anyway. Until later I when I tried to get a mortgage and I found my credit rating to be worthless! Everything froze and it was pointless trying to speak to someone about it. Everytime we did, they'd withdraw to go away and think what they were going to do next. A a week later and they'd be back on the phone threatening holy hell....until Tricia once again would tell them that she had card and load protection miss sold to them....then they'd go away for a time.

 

In the end, she waited for Lloyds to sue...and they did. She went to the small Claims Court and went up herself against one of Lloyds solicitors....and won. But on on the subject of the credit card and not the loan or overdraft. So Lloyds went away and Tricia waited for the next court case for the other two.....but it never came. Realising that they'd lost, Lloyds decided to do nothing about the other two. They'd lost at court and realised they'd lose if they pushed Tricia again.

 

Three years have now passed since then and Tricia has let it go quite. He credit rating still sucks as a result of Lloyds bank. She remortaged the house but had to pay a premium rate because of her bad credit history via Lloyds. She can't afford to sue Lloyds direct for the damage they've caused to her financial reputation...and Lloyds are keen to let time expire on this issue anyway!

 

My question is thus this: is there a specialist site on the net that someone knows of that tricia could go to for assistance please?

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Hi Slipper99

 

Sorry my last post seems to have vanished!

 

 

I said that I had successfully reclaimed two lots of loan protection insurance from Lloyds as the director of a limited compnay. I went via the FSO which can be done once your wife has a final response letter from Lloyds. The FSO found that Lloyds had not fully explained the details and ramifications of the Terms and Conditions as the Code of Conduct required them to do. The FSO service is free and might be worth a shot. If your wife decided to go down this route I'll see if I can help with the documentation

 

Keith

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Nice to hear from you Keith and once again, thanks for the advice you given. I motivated her over the phone last night to finally get this situation resolved and she'll be pleased by your comments.

 

Anything more you can add would be much appreciated.

 

David

 

PS Were you at all able to gain liquidated damages from Lloyds as a result of their actions.....?

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Hi slipper99

 

No. My original letter of complaint included this but on reflection I didn't persue it. I got full refunds plus interest at the appropriate rates. I think that in order to get anthing else you will have to go via the Court. This would not be an easy action to bring - it would almost certainly be defended and probably in a track where you could end up paying the costs if you lost. Unless you have a really good understanding of the law and can argue against a legal team I would think very carefully about it. Purely my opinion!!

 

Keith

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Damages could be tricky, you will be asked to prove what Damage was done etc etc , and as Keith says I think they would fight tooth and nail over that one. But that is just my opinion.

 

Ian

Lloyds TSB -PPI - Full refund . 05/09/06 :D:p (As Seen on TV) :p

Halifax settled in Full.. :D 22/09/06

TSB First Claim SETTLED IN FULL 19/10/06 :D

Second Claim to Lloyds TSB - Settled in Full

Firstplus - early settlement interest charges - Challenged the use of the rule of 78 - SETTLED IN FULL 12/1/07

PPI - GE Money / Purpleloans / Firstplus - Now Settled after 1 year long hard fight.

 

 

 

If my post has helped you, please click the scales! :grin:

 

Anything said is my opinion and how I understand the law, always consult professional legal advice before taking something to court.

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Keith and Ian

 

Once again, thanks very much for your comments.

 

Yes I agree it would be a difficult one to prove loss, but on reflection, maybe not too hard. The fact that she was turned down by Lloyds bank for a mortgage...because of the situation, plus accepted by another lender...and a much higher interest rate, is easy to prove and cost. At the time, the new lender stated in writing, that they could have offered a 1 percentage point lower rate if it hadn't have been for Lloyds adverse credit information.

 

Anyways...it's about time someone somewhere actually stuck one on them. Clearly they are in the wrong and clearly, a person has suffered at a vulnerable time when she most needed the safeguards she'd put in place to work....and they didn't. No only did they not work, there was never a time that they were going to! In that respect, Lloyds bank were clearly negligent and at the very least, should have apoligised and removed there adverse information.

 

Without doubt, Lloyds bank have sidestepped pursuing any case against her, they do not want to give Tricia the opportunity to come to court. It would be an own goal for them and having lost already when using a Barristor against her...that's how poor there case was!

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If you have it in writting that you would have got a better rate if it had not been for Lloyds TSB messing up your credit status, then It may well be worth fighting for Damages on that Grounds.

 

Lloyds are good at Sidestepping.. They had a serious go about my Lloyds Posts on here (which I removed for the sake of CAG) via their Solicitors. Maybe they did not like all the attention that it was getting as I think it was of the early claims for mis-sold PPI, just before the Sh*t hit the fan etc. I responded to one of the head guys at Lloyds and guess what, after providing him with even more Damming Infor about their Company they went all quiet and have never bothered to respond at all.

 

I remember years ago the TSB moto .. the bank that likes to say YES, now it appears to be the bank that likes to Ignore you or tell you to F off.

 

Ian

  • Haha 1

Lloyds TSB -PPI - Full refund . 05/09/06 :D:p (As Seen on TV) :p

Halifax settled in Full.. :D 22/09/06

TSB First Claim SETTLED IN FULL 19/10/06 :D

Second Claim to Lloyds TSB - Settled in Full

Firstplus - early settlement interest charges - Challenged the use of the rule of 78 - SETTLED IN FULL 12/1/07

PPI - GE Money / Purpleloans / Firstplus - Now Settled after 1 year long hard fight.

 

 

 

If my post has helped you, please click the scales! :grin:

 

Anything said is my opinion and how I understand the law, always consult professional legal advice before taking something to court.

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