Lowell and Lloyds TSB

[cwm 53]

Hi,
Just received a letter from Lowell saying that they are going to serve me with a statutory demand on a debt from Lloyds TSB. I have had previous letters from them and other debt collectors about this and have ignored them since last correspondence with Lloyds TSB in 2009 but this latest letter sounds serious so can you give me some advise.

I've looked on this forum and have sent Lowell a letter asking for cca request.

I can't remember when the personal loan was taken out but my partner of the time left me in October 2008 leaving be claiming benefits as I had 2 dependents at the time and a low wage and a mortgage and secured loan on the mortgage. Therefore not able to pay more than £10 a month off the debt which was offered to Lloyds TSB but their refused and I was told that their would take me to court for recovering of the debt. I have received letters from Lloyds TSB since just stating amount owed (1 a year) no mention of court and letters from various debt collectors as said above.

The amount owed is £7450.13. I'm a homeowner, work and have a new partner that is on job seekers. The 2 dependents are now grown and left. But I can still only offer £10 a month.

I always thought it was best to go into court and prove that I couldn't pay anymore on this type of debt as it couldn't be put against your property but I think the ruling as changed is that right?


Awaiting reply

Thank you

[littlebert8]

Re: Lowell and Lloyds TSB

I dont know a lot about statutory demands, but you've come to the right place - someone will be along soon to give you expert advice.

If you have equity in the property, then Lowell may well follow through on their threat to issue a statutory demand. This is pretty serious and definitely shouldn't be ignored or you could be made bankrupt and your house sold to pay off your creditors.

Can you remember if the loan was taken out before or after April 2007? Did you ever ask Lloyds or any of the Debt Collectors for a copy of the Credit Agreement under section 78 of the Consumer Credit Act? If not, that should be your next step - remember to enclose the £1 fee.

Also, did you ever get a Default Notice from Lloyds or a Notice of Assignment from Lowell?

If you don't get many replies on this thread, consider reposting it in this part of the forum
http://www.legalbeagles.info/forums/...tutory-Demands