reply about my complaint...more help needed pls...

[magoogy]

Re: help me reduce my loan please?

thanks all....i tried using one of the forms to fill in my income,etc but wouldnt work....my income was exactly the same when i took out the loan as it is now except i was getting £18 child benefit and £55 family premium on income support.....so that was;

£18 child benefit
£55 carers
£160 income support

weekly

£455 mobility for hubby
£71 mobility for me

monthly.....

so - what do you recommend i do next? do i wait until my new bank comes through and then close it down and then write a letter to the bank manager....im trying not to keep any cash in my account apart from direct debits and not write any more cheques....

thanks for all your help

[Emerald]

Re: help me reduce my loan please?

Try this one and cut and paste into this thread.

[magoogy]

Re: help me reduce my loan please?

right - i have managed to find all statements online going back to when i first got into trouble and took out the loan....

18 october 06 - £2649.05 overdrawn
18 october 06 - £3500.00 loan taken out
takes me to £850.95 credit...

repayments of £86.27 a month....

couldnt keep up with repayments so got into trouble again...

22 may 07 £1212.43 overdrawn
22 may 07 £4600.00 refinance loan taken out
takes account to £161.02 credit

repayments £49.89 a month....

but;

10 may 07 £86.26 paid to loan
22 may 07 £70.48 paid to loan
10 july 07 £49.89 paid to loan
10 aug onwards £49.89 payments continue

balance on loan now £4246.43

so - as you can see i did get into trouble, but, how i got so overdrawn and they never stopped me i dont know - it took about a year and half to first get to large overdraft, but, with the payments on the loan it was pretty quick before i was over a thousand overdrawn again and they still hadnt stopped me going overdrawn.....

can anyone help please?

thanks

[Amethyst]

Re: help me reduce my loan please?

whats the overdraft stand at now?

[magoogy]

Re: help me reduce my loan please?

im not overdrawn anymore as they wont allow me to have an overdraft, but, the loan balance which i was advised was the only way to pay off the overdraft, stands at;-

£4246.43

thanks all

tried to use copy/paste to do my finances but wont work....

[magoogy]

need more help pls........urgent...

i have a thread going - help me reduce my loan overdraft please....well - i cancelled the direct debit yesterday to pay the loan because there was no way i could afford it this month and this morning (how quick was that?) i have received a letter saying they cannot pay my direct debit and can i send a cheque and explain why i cancelled......

can anyone explain what i should do please? i havent received my new bank details yet so i cannot put money through that...would i be better asking my benefits to be paid by giro in the future until my new bank is up and running? am a bit worried about doing this though because they mess up so many times....

any advice would be welcome please? is this the time i should now write a letter explaining i think i was missold the loan?

thanks

[Paule]

Re: need more help pls........urgent...

and explain why i cancelled......

Heres a simple answer

i havent received my new bank details yet so i cannot put money through that.

When was the payment due to go out?
I presume you havent contacted them regarding not being able to pay the installment.

Is your money still going into a Lloyds bank account?
as there may be a clause that allows them to take any money out of your account to pay the loan, I know halifax do this

[magoogy]

Re: need more help pls........urgent...

the loan payment is due on 25th but i wanted to get there early.....so really i would be better phoneing benefits and getting it paid by giro until i get new bank sorted?

[TANZARELLI]

Re: need more help pls........urgent...

I'm not sure they pay via GIRO anymore I might be wrong.

[magoogy]

Re: need more help pls........urgent...

have just confirmed all benefits will now be in giro until new bank sorted...they are stopping all giros in 2010 but, the ones they send now are made for a specific post office only...

[TANZARELLI]

Re: need more help pls........urgent...

Nice one, I did say I might be wrong.

[magoogy]

Re: need more help pls........urgent...

thanks tanz.....just need to work out what letter to send the bank or do i report them first to fos?

[Paule]

Re: need more help pls........urgent...

You have to make a complaint to the bank first, then if they dont agree then you go forward to the FOS once you have had the banks final decicion on the matter

[magoogy]

Re: need more help pls........urgent...

thanks hun....will do so and report back...thanks so much

[magoogy]

still not sorted - missold loan....more info for you

i posted ages ago about how i thought id been missold a loan because my income didnt warrant it and how my overdraft kept getting increased so eventually i was nearly £2000,00 overdrawn....

well i asked for a sar and they keep sending me the wrong information - im again having to ask them for the correct info and itll be the 3rd time....but - this time they sent me customer records and i noticed that when i got a refinance loan for the original loan (couldnt keep up with the repayments and got myself overdrawn to nearly £1000,00 again) i was infact turned down once for it a month before because it said credit score and income wasnt enough....

a few questions;-

how many times do i have to ask them for all information on both loans?

why didnt they notice i was having difficulty when i was going overdrawn all the time? at no time did i receive a phonecall or letter asking if they could help and i was overdrawn nearly 2 years by a thousand and then 2 thousand before they actually stopped increasing my overdraft.

i cant understand how i ever warranted a huge overdraft as i was always truthful about my income - it was a single account and i only got child benefit and carers allowance.....even if they took partners income into account he only got income support and disability....

why when they realised and i got the first loan did they still allow me to go overdrawn again and it took them 5 months and they never contacted me - i was having trouble with the repayments on the loan so i contacted them to see if i could have a payment holiday but i was declined and then told to put in for a refinance loan to reduce the payments - i was declined for that too but, a month later i tried again and was accepted - i was once again nearly £1000,00 overdrawn by then......

also the first loan had interest added so they have now added interest to the second loan so in effect they have made interest on interest?

now my finances have been cut by £70 a week due to my daughter becoming 20 and no longer getting child benefit or income support for her - she is at college full time on a.l.g of £30 a week so obviously i dont get no money off her...i cannot afford this loan and cannot get an overdraft now thank god because im now managing my money so much better ...its hard but i have to manage...

i know i shouldntve got myself into that mess but when it is there im afraid im tempted and used it for an easier life with my partner being disabled - the first time i paid for him to go to gracelands which has been his dream and i wanted him to go before he gets too bad....the second time my mother had just died and i used some for her funeral and to treat us to christmas dinner in a restaurant as we usually went to mums for christmas and i needed to do something - i couldnt face staying at home....

i suppose i sound like im making excuses - sorry ....

but - what can i do now please?

thanks