Regarding these letters being received by Lloyds credit card customers
Any ideas why/what/ credit records etc ?
You have missed payments and your account is in arrears. In order to give you a fresh start, we want to bring your account up to date and clear all of the payments that we have asked you to pay in the past which you have not paid (your arrears).
In order to clear your arrears, we need to make a change to condition 18.5 of your agreement. It will read "We may choose not to enforce our conractual rights against you and make this contractually binding against us by giving you notice which expressly states that we have chosen to do so under this term of the agreement. In all other cases, if we choose not to exercise rights against you, we can still do so later."
This letter gives you notice for the purposes of this new condition 18.5 the arrears standing on your account at the date of this letter have now been cleared. You will still owe us these amounts which form part of the outstanding balance on your account. However, you will no longer be treated by us a having missed any payments due to us and we will not be able to demand immediate payment of those arrears in future. Any new payments you miss going forward wil be treated as arrears on your account.
Yours sincerely Collections Manager
In order to clear your arrears, we need to make a change to condition 18.5 of your agreement. It will read "We may choose not to enforce our conractual rights against you and make this contractually binding against us by giving you notice which expressly states that we have chosen to do so under this term of the agreement. In all other cases, if we choose not to exercise rights against you, we can still do so later."
This letter gives you notice for the purposes of this new condition 18.5 the arrears standing on your account at the date of this letter have now been cleared. You will still owe us these amounts which form part of the outstanding balance on your account. However, you will no longer be treated by us a having missed any payments due to us and we will not be able to demand immediate payment of those arrears in future. Any new payments you miss going forward wil be treated as arrears on your account.
Yours sincerely Collections Manager
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