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

[natweststaffmember]

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

The bank have to comply with your request.With the Data Protection Act they have 40 days to comply with your request. That should have included all data on you. If they failed to comply you have every right to complain to the Information Commissioners Office.
Have you requested a copy of the Loan agreement specifically(since that is the document you need)?

[magoogy]

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

yes i have said that i require information on both the loans i have ever held with them - both the old and the refinance one and put both account loan numbers but they keep sending the refinance one and nothing on the old loan......i will have one more go and tell them i will pass it to the ICO if they do not comply?

thanks

[natweststaffmember]

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

When did the refinance loan finish? and was it also with PPI?

[magoogy]

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

the refinance loan isnt no way near finished.....i was only into about 4 payments of the first loan and was using overdraft again to meet the payments when they let me go overdrawn again and then stopped the overdraft so i was offered the refinance loan then....

first loan taken out 18 october 06
refinance loan taken out 22 may 07

i have changed banks and stopped paying the loan until i manage to sort this missold thing out but have had a couple of letters off them saying im £30 in arrears - how can i be when the payments are £50 a month and ive missed 3 now? doh!!!

there is no ppi in either of the loans as they said i didnt work so wasnt entitled to it...

thanks hun

[magoogy]

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

following on from my other thread - here is the reply i got from my complaint letter;-

THANK YOU FOR TAKING THE TIME TO CONTACT US ABOUT YOUR BORROWING AND FOR YOUR PATIENCE. IM SORRY FOR THE TIME IT HAS TAKEN TO GET BACK TO YOU. BEFORE GOING ANY FURTHER, I THINK IT WOULD HELP IF I EXPLAIN WHAT I UNDERSTAND YOUR COMPLAINT IS ABOUT.

YOU FEEL WE HAVE PUT YOU IN FINANCIAL DIFFICULTIES BY ALLOWING YOU AN OVERDRAFT AND AGREEING YOU A PERSONAL LOAN ON TWO SEPARATE OCCASIONS.

YOU WOULD LIKE AN EXPLANATION OF THE CRITERIA WE USE WHEN AGREEING BORROWING AND WHY WE ALLOWED YOU AN OVERDRAFT FACILITY TO RESOLVE YOUR CONCERNS.

ALTHOUGH I DONT AGREE WITH ALL THE POINTS YOUVE MADE , IM CONCERNED AT CERTAIN ASPECTS OF OUR LENDING. MY DECISION HAS BEEN BASED ON THE FOLLOWING;-

I HAVE CONCERNS OVER WHETHER WE MADE SURE YOUR LOAN IN OCTOBER 2006 WAS AFFORDABLE.

I CAN SEE THAT AFTER AGREEING THIS LOAN WE REDUCED YOUR OVERDRAFT FACILITY TO £250 WHICH IS A MUCH MORE MANAGEABLE AMOUNT. HOWEVER, I CAN THEN SEE THAT WE ALLOWED YOU TO INCREASE YOUR OVERDRAFT LIMIT AGAIN.

HAVING SAID THIS, I ALSO BELIEVE THAT WE NEED TO RECOGNIZE THAT;-

BEFORE YOUR LOAN WAS AGREED IN OCTOBER 2006 YOUR OVERDRAFT FACILITY LIMIT WAS AT £3000 WHICH YOU HAD INCREASED ON A NUMBER OF OCCASIONS THROUGH THE INTERNET.

WHEN YOU APPLY FOR AN OVERDRAFT USING INTERNET BANKING, AND CHOOSE NOT TO DISCUSS YOUR FINANCES WITH A MEMBER OF STAFF, WE ASSUME THAT YOU HAVE CONSIDERED HOW MUCH YOU WANT TO BORROW AND HOW MUCH YOU CAN AFFORD TO REPAY. IF YOU WERE UNSURE, YOU COULD HAVE COMPLETED THE ON-LINE AFFORDABILITY GUIDES WHICH HELPS YOU DECIDE. THIS IS CLEARLY SIGNPOSTED ON OUR WEBSITE, ALONG WITH WAYS OF DISCUSSING YOUR FINANCES IN PERSON.

OUR LENDING DECISIONS ARE BASED ON A CUSTOMERS INDIVIDUAL CIRCUMSTANCES. WE LOOK AT HOW THEY HAVE MANAGED THEIR ACCOUNTS AND MAY CONSIDER OTHER INFORMATION SUCH AS CREDIT REFERENCE AGENCY RECORDS.

YOUR LOAN WE AGREED IN 2006 REFINANCED YOUR EXISTING OVERDRAFT BORROWING YOU HAD WITH US. SO, WE DIDNT SIGNIFICALLY ALTER YOUR OVERALL FINANCIAL POSITION, AS YOU ALREADY OWED THE MONEY, AND IT GAVE YOU A STRUCTURED REPAYMENT PROGRAMME. YOU SAY THAT YOUR OVERDRAFT WAS INTEREST FREE BUT THIS ISNT THE CASE. I ALSO DONT ACCEPT THAT THE INTEREST RATE ON THIS LOAN WAS EXTORTIONATE. THE APR OF 17.9% REFLECTED THE RISK OF LENDING TO YOU.

YOU SPEND THE MONEY AND HAD BENEFIT FROM IT.

OUR CUSTOMER SUPPORT UNIT AGREED YOUR REFINANCING LOAN IN APRIL 2007. THEY DEAL WITH CUSTOMERS WHO, FOR WHATEVER REASON, ARE HAVING FINANCIAL DIFFICULTIES. THEY COMPLETED AN INCOME AND EXPENDITURE WITH YOU OVER THE PHONE. I DO NOT HAVE A COPY OF THIS. THEY WERE ABLE TO OFFER YOU A LOAN AT A LOWER INTEREST RATE AND WITH A SMALLER MONTHLY PAYMENT.

IM VERY SORRY FOR WHAT HAS HAPPENED BUT IM PLEASED THAT YOU GOT IN TOUCH AND GAVE US THE OPPORTUNITY TO SORT THINGS OUR.

TAKING INTO ACCOUNT MY ABOVE COMMENTS I WOULD LIKE TO OFFER TO;

REFUND THE INTEREST OF £833.21 YOU HAVE PAID ON YOUR TWO PERSONAL LOANS. THIS WILL REDUCE THE OUTSTANDING BORROWING ON YOUR CURRENT LOAN TO £3499.62.

ARRANGE A REPAYMENT PROGRAMME FOR THE REMAINING BALANCE, HOWEVER, I NEED TO ESTABLISH YOUR CURRENT FINANCIAL POSITION BEFORE I CAN DO THIS.

IVE ENCLOSED A COPY OF OUR LEAFLET CALLED 'BACK ON TRACK' WHICH INCLUDES AN INCOME AND EXPENDITURE PLAN. PLEASE CAN YOU COMPLETE THIS AND RETURN IT TO ME SO WE CAN LOOK AT AFFORDABILITY.

I HOPE YOU ARE HAPPY WITH MY OFFER AND IF YOU WOULD LIKE TO ACCEPT IT PLEASE SIGN THE ENCLOSED COPY OF MY LETTER AND RETURN IT TO ME IN THE REPLY PAID ENVELOPE.

AS SOON AS IT REACHES US, WE WILL PAY THE REFUNDS INTO YOUR LOAN ACCOUNT. THIS MAY TAKE UP TO 21 DAYS. I WILL HOLD MY OFFER OPEN FOR ONE MONTH FROM TODAY.

PLEASE GIVE ME A CALL IF IT WOULD HELP TO TALK THROUGH ANY OF THE POINTS IN MY LETTER. IF WE CANNOT COME TO AN AGREEMENT, I WILL PROVIDE YOU WITH DETAILS OF THE FINANCIAL OMBUDSMAN SERVICE SO THEY CAN CONSIDER YOUR COMPLAINT INDEPENDENTLY.

IF I HAVE NOT HEARD FROM YOU BY 23 JANUARY 2009 I WILL CLOSE MY FILE, THOUGH OF COURSE I WILL REOPEN IT SHOULD YOU COME BACK AT ANY POINT AFTERWARDS.

THANK YOU ONCE AGAIN FOR TAKING THE TIME TO RAISE YOUR CONCERNS WITH US.

-------------------

so - does this mean my complaint is now resolved and i have to begin paying again? i only get £160 a week and cannnot imagine how im going to pay unless they will accept about £3 a week which i cannot imagine...

i still dont think they have answered as to why i was allowed to get to £3000 overdraft even though they seem to think they have and feel i shouldve been more careful and to be blunt i think they feel it was my own fault...

any help would be appreciated...

thanks

[Amethyst]

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

Have merged your threads just reading

[Amethyst]

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

Hey xx

That is a good start that they are refunding the interest paid on the two loans for you, thus reducing your debt by £900.

They have said they will then arrange a repayment programme, also as they have repaid interest I think you should clear up that they won't start adding more interest/charges on once you are in the repayment plan.

If your IE shows you can only pay £3 a week then thats all you can pay. If you want a hand with your IE sheet see if theres other things causing problems for you please just shout.

I'm not sure on the irresponsible lending side, she has said she has concerns over why you were able to borrow so much, the loans i think are covered in that refinancing went through your IE sheets and got a lower rate of repayment etc, and they refinanced the overdrafts - possibly just too easy to up them on t'internet and no checks done before allowing you to up them - so you may have something to work on there.

I think the most important thing is to get this offer accepted in the interim and your weekly/monthly repayment plan sorted out so you don't have the worry of it over you constantly.

Not sure on the position on the overdraft you have currently ? You really want that passed to debt management as well. Will read back through your thread and see what other info we have. EDIT _ OK NO OVERDRAFT NOW SO JUST THE LOAN...which is good

xxx

[Budgie]

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

Hi Magoogy,

Have just read back through your thread,

Have you managed to get hold of copies of your bank statements.

I find it difficult to believe that whilst the overdraft was building up ( and they were increasing your limit ) that they were not also applying default charges to your account. I also suspect the same has probably been happening with your loan account.

Please can you check and let us know.

Now that you have this contact and dialogue underway with Lloyds it would be a great opporuntity to also try and get the loan reduced in respect of any default charges they have applied to your accounts in the past.

Budgie

[WendyB]

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

Thats exactly what i was going to say Budgie - you beat me to it. There must be some charges on the account which would be worth claiming back, especially in this climate of them sort of admitting they were irresponsible. Strike while the iron is hot. You may be able to negotiate the charges back which will in turn reduce your debt to them even more.

[magoogy]

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

i have the full statements and there was never any charges applied to my account as i never went over the agreed overdraft - if i felt i was going to go over i just applied via internet banking to increase the overdraft and it was forever increased......the charges they are refunding is just the interest added on the loan

i know they said i had the option of seeing whether i could afford to pay it back using their online calculator but that never showed up while i was putting in for the increase and i was never given the option of checking i could afford it first - even though it says in their letter this option is available on their page this must be new...

i just cant see how and why i was allowed to keep increasing and increasing and got to £3000 before they said no more.....this is the point im more annoyed over - if they had stopped me in the first place i wouldnt be in the mess of owing them all this money now....

so - do i accept their offer and try work something out or do i carry this on and report them saying how on earth could i have got the £3000 overdraft in the first place - surely they shouldve never let it get over maybe £100 at the most or £250 as they left me with after the first loan....they not only did this once but twice - surely someone notices someone is going haywire with their spending....?

thanks for all your help everyone....

[Amethyst]

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

I'd accept the offer and get repayments set up and IE form in so you arent in a pickle, then look at the irresponsible lending side of things.

[Budgie]

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

I agree with Ame, accept their offer which seems generous, try and negotiate that no further interest will be added to the remaining balance of the loan.
Complete the IE form and try to negotiate future payments at a level that you can actually afford.
I am not certain you will be able to progress matters any further on the irresponsible lending side of things and even if you were they are actually being reasonably generous by refunding the interest element of your loan.

Budgie

[magoogy]

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

ok thanks for all the advice...i willd draft a reply to them accepting their offer on the proviso that no extra interest will be added at any time and also at a rate i can afford....i know thatll be about £3 a week so i cant really see them accepting that?

if i do that and get in a comfortable repayment schedule is it then worth putting a complaint to oft saying i think it was irresponsible lending?

thanks everyone...

[magoogy]

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

right guys - just to let you know have finally had an offer of £5 a month accepted by lloyds and they have promised never to ask for more and not to add any interest - also the offer of reducing the loan as above still stand....

all i have to do now is sign the form to say i accept and then set up a payment scheme with them...

they say if i ever break the payments the money due will then be due straightaway....

so - is this good and do i now sign and what should i be aware for in the small print?

thanks