Lloyds bank odraft settelement

[Lowry1234]

Guidance needed.
i have odraft of 2990.00. With lloyds. They passed it to DCA I send them a cheque monthly for 8.00 payment has been sent since 2010. So I have paid 384.00 off in 4yrs.
it will take me 25yrs plus to pay it off...of course most of it is bank charges.
dca do not chase me...occasionally I get a letter telling me it's going to take years to pay off...I do not respond to letters ...
im thinking of sending them a settlement offer to close the account £400 just to close the thing down....? Am I dreaming?

[nemesis45]

Re: Lloyds bank odraft settelement

Hi Lowry,
Anything is worth a try!!!
This time you emphasise the impossible time scale for repayment and there is unlikely to be any possibility that payments will increase, and in fact may have to be reduced at some point.
However DO NOT make any payment without having written acceptance of the offer which has to be conditional on the balance of the debt not being sold or assigned for collection to any third party.

Which DCA is this with please?

nem

[Lowry1234]

Re: Lloyds bank odraft settelement

Moorcroft....
Do we have a template letter?
i have a ccj with lloyds £1 per month shld I put that in the letter

[Lowry1234]

Re: Lloyds bank odraft settelement

Lloyds confirm they own the debt but have instructed moorcroft to collect...who does the offer letter go to moorcroft or Lloyds ?

[nemesis45]

Re: Lloyds bank odraft settelement

Send to Moorcroft:

Date
Ref: use theirs:

Re: Lloyds Bank:

Sir/Madam

I refer to the above mentioned debt on which I am making agreed payments of £1.00 per month, given the amount outstanding
it will take a considerable number of years to repay this.

As my financial situation is very unlikely to improve and more likely to worsen I am prepared to make an offer in Full and Final Settlement of this debt in the sum of £xxx.xx, this offer is made on condition that the remaining balance is not to be sold or assigned to any third party for collection and credit file entries are marked partially satisfied.

Payment will be made within 7 days of my receiving your written acceptance.

Send signed for post.

nem

[Lowry1234]

Re: Lloyds bank odraft settelement

Thanks ...typed and ready to,post

[nemesis45]

Re: Lloyds bank odraft settelement

:okay:

Thanks ...typed and ready to,post

:okay: Keep us up to speed please Lowry.

nem

[Lowry1234]

Re: Lloyds bank odraft settelement

[QUOTE=nemesis45;508445]:okay:

:okay: Keep us up to speed please Lowry.

nem

of course unless I'm sectioned under the mental health act for my plastic combs and carrier bags personality disorder

[nemesis45]

Re: Lloyds bank odraft settelement

I believe that your activities are a clear sign of SANITY when dealing with the unbelievable nutters in the world of debt collection:der:

[Lowry1234]

Re: Lloyds bank odraft settelement

897.00 bank charges
interest 1397,00
total 2294.00
debt ostanding 2900

[Lowry1234]

Re: Lloyds bank odraft settelement

Recd a response to my offer.
they have written back wanting a full financial statement from me then moorcroft will discuss with lloyds
is this good news?
advice please. More than ok to send of statement and proof of earnings