Lloyds and Wescot

[Tya]

Hi All,

I wonder if someone can help me.

I have and overdraft with Lloyds and owe them over £7,000.00. I had an arrangment in place after being made redundant to pay £25 a month, for which I had kept up to date.

A few weeks ago, when I went to make a payment into my account, they told me that my account had been closed. But I did not receive any letter to state this.

I spoke to the collections dept and they said that the debt had been passed onto Wescot and that I needed to contact them directly.

Silly me, I did so and have said that I would pay £25 a month.

I have not recieved a letter from Lloyds regarding a notice of assignment and have had nothing from Wescot.

I'm not sure where I stand here. I do want to pay Lloyds what I owe, but have I been silly in speaking to Wescot.. ( yes I know I have)

And does Wescot have a legal leg to stand on?

Sorry if this doesn't make sense, I guess I want to know if the whole procedure has been done correctly and if I should write to Wescot to get certain information, and if so, what?


Thanks

Tya

[Tya]

Re: Lloyds and Wescot

Anyone?

[Crispybacon]

Re: Lloyds and Wescot

Hi Tya

Ok you need to stop speaking to Wescot on the phone and keep everything in writing.

You should have received a notice of assignment from Lloyds if they have sold the debt to Wescot.

Have you got anything in writing from Wescot confirming your payment arrangement of £25/month?

Best

Crispy

[Tya]

Re: Lloyds and Wescot

Hi Crispy,

I havent had a letter from Wescot yet as I spke to them on Saturday just gone. (23rd April)

I said I would call up and make a payment on May 1st and for the 1st of each month.


No Notice of Assignment from Lloyds, and I called them about it today and they don't seem to know whats going on. All they could say was that the debt has been passed on.

Not sure what to do from here as I have agreed to making a payment? Of course I will no longer speak to Wescot on the phone. But where do I stand now?

Thanks

Tya

[Garlok]

Re: Lloyds and Wescot

Firstly in my humble opinion Lloyds/Wescot are on a bit of a sticky wicket. It is my understanding that some new EU directives came into force this year (1st Feb??) which makes it compulsory for the OC i.e. Lloyds to have informed you of the transfer of this debt even it is only equitable asignment to Wescot. I.E. Wescot are only acting as collection agents for Lloyds and there has not been absolute assignment whereby Wescot actually own the debt, which in itself has procedures which must be followed to make it lawful.

Someone appears to have slipped up as usual or have assumed that no one else amongst us mere mortals knows anything.

Someone will be along who has more technical info than me I am sure.

As regards making payments personally I wouldn't until the paperwork is in place.

Everything in writing only.

regards
Garlok

[Tya]

Re: Lloyds and Wescot

Hi Garlok,

Thanks for this information.

Tya

[Crispybacon]

Re: Lloyds and Wescot

Hi Tya

I agree with Garlok and would pay nothing to Wescot until you have something in writing.

Personally I also would pay nothing over the phone. The second that Wescot have your debit card details they can do anything they want with them, including taking further payments you haven't authorized.

If you insist on talking to them only do so to call them up for their bank details so you can set up a standing order.

If they say they won't accept standing orders then simply ask them why they are refusing to accept your payment?

Again, keep everything in writing.

Best

Crispy

[Tya]

Re: Lloyds and Wescot

Hi Tya

I agree with Garlok and would pay nothing to Wescot until you have something in writing.

Personally I also would pay nothing over the phone. The second that Wescot have your debit card details they can do anything they want with them, including taking further payments you haven't authorized.

If you insist on talking to them only do so to call them up for their bank details so you can set up a standing order.

If they say they won't accept standing orders then simply ask them why they are refusing to accept your payment?

Just checked my lloyds account online, and I've found bank details for Wescot. So if and when I do start to pay them, I can do so online without giiving them my card details. Yay!

Thanks guys for all of your help so far. x

Again, keep everything in writing.

Best

Crispy

Thats great advice Crispy Thankyou!

I can't believe I was so silly to think it was ok to call them and give them my debit card details, I wasn't thinking straight. Thats what panic does to you. But I'm calm now and will wait for paperwork.

One more thing, even though I did call them and said I would make payment on the 1st. Can Wescot take me to court, even though I haven't received all the relevant paperwork?

Please note everyone that I'm not trying to get out of paying as I do want to clear my debt. I just want to make sure that all the details are correct.

[Garlok]

Re: Lloyds and Wescot

Hi Tya

In principle on the basis of the circumstances you have described, Wescot have "no cause of action" and therefore cannot on their own take you to court. They could do it in conjunction with Lloyds (the original creditor and the current "owner" of an alleged debt).

Only if the debt is actually sold by Absolute Assignment by Lloyds to Wescot can Wescot "go it alone". I think what you have to remember is that debt collection agencies have less rights in fact than your postman. They have no standing in law whatsoever and their biggest and only REAL weapon against you is your own fear of what they may or may not do to you. Once you have that mindset you will be able to stop worrying quite so much and regain control of your own affairs.

They may threaten and posture but can do very little in reality. Just keep everything they send by mail including envelopes, refuse to talk on the phone but log every call time and brief substance. They will eventually get the message and return the account back to the original creditor.

We have been through 16DCAs and three solicitors practices so far, and currently we are with the Hull Horrors. Not one has had the guts to tell the OC to go to court as we do have proper legal representation and our paperwork either does not exist at all or is in a complete and utter mess.

regards
Garlok.

[Tya]

Re: Lloyds and Wescot

Thanks Garlok,

This is great information! I will wait for the paperwork as I mentioned and will sit tight and not worry.

Lloyds have been silly really, as I have made a payment every month without fail, and then they closed my account without notice... Only found out my account was closed when I popped into the bank to make my usual payment.

But thanks for this info, and I hope the debt does get passed back to Lloyds.

Thanks

Tya

[Tya]

Re: Lloyds and Wescot

I was just wondering...

Could I continue to pay Lloyds the payment that I was making through internet banking?

I have the sort code and account for my closed account. So If I was to set up a payment through internet banking that way, would those payments still got to my closed account?

That way I would still be in control. Does anyone know if that would work?

Also, I forgot to mention that I have a letter from Lloyds stating that they have accepted my arrangement and my payment is due by the 10th May 2011. This is because my account was sent to another department of Lloyds. Does this help me?

[Garlok]

Re: Lloyds and Wescot

Hi Tya,

I think we could assess what should really happen but in the unreal world of banks, DCAs et al anything becomes possible and anything can go wrong. With your account your money is likely to go astray.

I think I would be inclined to write to Lloyds head office and ask for clarification of the position now that you have been informed that your account has been closed. I would do nothing about Wescot until the paperwork appears as already stated, if ever. By the way always use the mantra don't sign anything with your own signature, just print your name.

In the mean time are you in a position to consider a full & final settlement offer? It might be of interest to you to have a read around this site at the information on this. For the cost of three solicitors letters we achieved a 10% settlement of the total figure. But please be careful and read the detail carefully.

regards
Garlok

[Tya]

Re: Lloyds and Wescot

Hi Garlok,

No, I'm not in the position to offer a full and final settlement, as I'm currently unemployed.....

But it would be something that I would like to do once I gain employment.

Thanks for your advice so far.

Tya

[Garlok]

Re: Lloyds and Wescot

Sorry to hear your unemployed Tya, and can understand on the F & F. However if you do wish this route in the future, just shout as there are many on here willing to help you who have been involved and would only be too glad to guide you through it as it needs to be done properly to secure your finances.

In the mean time as I said I would seek proper clarification by way of written correspondence from the OC and do nothing about Wescot until such times as they produce the paperwork promised, if they ever do. By the way don't use e-mail if you can help it as well, heaven forbid if the worst comes to the worst, the judges like to see a proper paper trail.

regards
Garlok.

[Tya]

Re: Lloyds and Wescot

Sorry to hear your unemployed Tya, and can understand on the F & F. However if you do wish this route in the future, just shout as there are many on here willing to help you who have been involved and would only be too glad to guide you through it as it needs to be done properly to secure your finances.

In the mean time as I said I would seek proper clarification by way of written correspondence from the OC and do nothing about Wescot until such times as they produce the paperwork promised, if they ever do. By the way don't use e-mail if you can help it as well, heaven forbid if the worst comes to the worst, the judges like to see a proper paper trail.

regards
Garlok.

Hi Garlok,

Thanks for your help. I took your advice... I put in a complaint to Lloyds and I received a letter from them saying how sorry they were for the way that I've been treated.

The good new is, I explained my situation ( the closing of account and no NOA, no paperwork from Lloyds etc...) and my debt has been taken back by Lloyds, and they even admitted that it should never have gone to Wescot in the first place!

They have also given me their sort code and account number, which is great so I'm totally in control.

I'm so glad I didn't do anything about Wescot, stood my ground with Lloyds and got exactly what I wanted.


Thanks for all your help guys.

Tya
------------------------------- merged -------------------------------
Thankyou to you aswell Crisybacon. x