LloydsTSB/Lowell Portfolio 1

[FlamingParrot]

Re: LloydsTSB/Lowell Portfolio 1

Lloyds filed that the account had been settled Lowell have put the account back on Experian as default which I don't understand as I have agreement to pay Lowell anything at this time.

That's quite normal when debts get sold, the account would have been settled with Lloyds because Lowell paid for it when they bought it, but it's still in default with the new owners (Lowell) because you haven't paid the outstanding balance. The main point here is the default date, which should be the original date when you first broke the contractual agreement with Lloyds, not when Lowell bought the debt.

From what you say below, this should have been defaulted in 2003/04 if you stopped making the agreed contractual payments a year after taking out the loan, certainly sometime between 2003 and 2007, meaning the default should have dropped off your file by now if it had been recorded correctly.

I'll try and keep this brief but it has been going on for 11 years yes 11 years!
During 2002 I took out a loan with Lloyds TSB to bring my ageing farther to London from Cornwall.
For the first year everything was fine then I lost my job and couldn't afford the payments.
I entered into a number of payment agreements with Lloyds TSB for a reduce monthly payment all of which they broke without notifying me.
During 2007 I requested a statement of the loan account which I didn't receive so by 2009 I stopped making payments after they broke the payment agreement again.

You may want to look at this post which relates to a very similar situation, where the criteria for default as per the ICO guidance notes was met over 6 years ago, meaning a default should have been filed at that time and dropped off by now: http://www.legalbeagles.info/forums/...756#post382756 :thumb:

[Frustrated59]

Re: LloydsTSB/Lowell Portfolio 1

Hi,

And yes they have responded (3 Times) to the mail you told me to send which I included the £1 fee.

I can't see any post here which advises you to send mail enclosing a £1 fee. You have not done a S78 request, but they appear to have taken it as such. I would be tempted, as it was a loan, presumably regulated by the CCA, to send off a CCA request, purely because the formal legal argument moves more in your favour if they cannot provide a legible agreement, the T&C's at the time of inception and a statement of account.



They inform me that they have been in touch with Lloyds for a copy of the credit agreement which once retrieved they will send on.

That's fine, but see above.

They also tell me that once I receive my agreement they will be expecting payment in full.

Not if you do a S78 request and they can't fully comply with that they won't!

I know that Lloyds have a bad copy of the agreement but have not been able to produce any payment accounts or any other details.

They'd need a Statement of Account for a S78. It looks as though that's the way to go.

I'm slightly puzzled over the £1 mail you stated you'd been told to send earlier on in the thread. I don't see that been suggested anywhere.

I copied the template that you sent me and sent that to Lowell...... the second post on this thread.

[FlamingParrot]

Re: LloydsTSB/Lowell Portfolio 1

I copied the template that you sent me and sent that to Lowell...... the second post on this thread.

That was the account in dispute letter, normally used AFTER a CCA request has been sent and not complied with:

Account Sold While In Dispute

Dear Sir,

Your Ref: Account No XXXXXXXX


Thank you for your letter dated dd/mm/yyyy, the contents of which have been noted.


I write with reference to the above numbered account. I would like to point out that this account is formally in dispute with [Enter Original Creditor] and has been since they failed to acknowledge my Consumer Credit Agreement (CCA) Request, in line with s.77-s.79 of the Consumer Credit Act 1974.

[Frustrated59]

Re: LloydsTSB/Lowell Portfolio 1

I see you suggested sending a letter putting the account in dispute due to non-compliance with a s.78 request on post 2: http://www.legalbeagles.info/forums/...507#post373507 :noidea:

...and you are saying the OC failed to supply an agreement under their CCA request:

I don't see how it can be argued that they haven't complied with a s.77-79 CCA request when no such request has been made. :confused2:

My take on this is that Lowell probably have no idea whether a CCA request had previously been sent to Lloyds or not, and they are going to contact them and ask them for the documents.

This has been going on for many years and Lloyds have used numerous DCA's and I have always requested a copy of the agreement and a statement of account. After a number of years Lloyds did produce a poor photo copy of the agreement but no statement of account. I did speak to Lloyds directly a few years ago and the girl let slip theat because the account was over 7 years old the details had been deleted of the system and they couldn't find the full account details from the start date. I don't know how true that is but they have never provided the account details in years of requesting them.

[FlamingParrot]

Re: LloydsTSB/Lowell Portfolio 1

I'd say it's probably best to send a fresh CCA request if the ones you've sent were years ago. It may well be true that the account details have been removed but you want them to put it in writing that they can't find your agreement. :thumb: I've got 3 letters from MBNA saying as much. :bounce: :bounce:

I note from your first post that you took this to the FOS. They are useless and don't get involved in issues regarding enforceability and compliance with s.77-79 requests.

[Frustrated59]

Re: LloydsTSB/Lowell Portfolio 1

That was the account in dispute letter, normally used AFTER a CCA request has been sent and not complied with:

So have I sent the wrong letter??? And if so what should I do now just sit and wait for a response?
My letter to Lowell was sent on the 20.09.13 and as of now they have not provided any information...Only that they are in contact with Lloyds.

[Frustrated59]

Re: LloydsTSB/Lowell Portfolio 1

I'd say it's probably best to send a fresh CCA request if the ones you've sent were years ago. It may well be true that the account details have been removed but you want them to put it in writing that they can't find your agreement. :thumb: I've got 3 letters from MBNA saying as much. :bounce: :bounce:

I note from your first post that you took this to the FOS. They are useless and don't get involved in issues regarding enforceability and compliance with s.77-79 requests.

Yes the FOS are extremely useless they informed me that Lloyds had not acted unreasonably by not being able to produce an account statement for over 5 years in fact they left me feeling like they work for the bank!
So I need to send Lowell a CCA request??? I'm sorry I don't know what that is, is there a template I could use?
I assume it a request for the agreement and account statement?

[FlamingParrot]

Re: LloydsTSB/Lowell Portfolio 1

So have I sent the wrong letter??? And if so what should I do now just sit and wait for a response?
My letter to Lowell was sent on the 20.09.13 and as of now they have not provided any information...Only that they are in contact with Lloyds.

Yes the FOS are extremely useless they informed me that Lloyds had not acted unreasonably by not being able to produce an account statement for over 5 years in fact they left me feeling like they work for the bank!
So I need to send Lowell a CCA request??? I'm sorry I don't know what that is, is there a template I could use?
I assume it a request for the agreement and account statement?

There was a bit of confusion here regarding what was actually sent. :confused2: After reading your post 19 regarding previous requests, I can see why you sent the account in dispute letter rather than a CCA request, as you had previously sent CCA requests, albeit a long time ago:

This has been going on for many years and Lloyds have used numerous DCA's and I have always requested a copy of the agreement and a statement of account. After a number of years Lloyds did produce a poor photo copy of the agreement but no statement of account.

As Lowell have replied saying they are in the process of obtaining the documents from Lloyds, I'd just wait for them to come back to you, when you do, post up their response. :typing:

The CCA request is a request for a copy of your credit agreement and it should also include a statement of account, there's a template here: http://www.legalbeagles.info/forums/...953#post382953 but I'd hold fire until you hear from Lowell.

[Frustrated59]

Re: LloydsTSB/Lowell Portfolio 1

Guys Hi,

I have now received the attached response from Lowell.

I'm hoping that this is now the end of the matter or am I wrong?

The other thing the debt is still showing as default with the credit agencies can I now ask for this to be removed???

Thank you all so much for the help that you have provided.

[FlamingParrot]

Re: LloydsTSB/Lowell Portfolio 1

I have now received the attached response from Lowell.
I'm hoping that this is now the end of the matter or am I wrong?

WOW, CONGRATULATIONS! :high5::high5::high5::high5:

Indeed it is The End, the account will be closed! :whoo: :whoo: :whoo:

The other thing the debt is still showing as default with the credit agencies can I now ask for this to be removed???

Sadly not, the defaults are meant to reflect your conduct with the account and would only be removed if they had been recorded in error, not because the account is unenforceable due to lack of a credit agreement. Sorry.

[Frustrated59]

Re: LloydsTSB/Lowell Portfolio 1

Well that's great news.... :bedjump:

So how long can this show on my credit record???
Should it be a time from when Lloyds first recorded it or from the point Lowell did???
I understand your comment re: my conduct with regard to the credit agencies...but it wasn't my conduct that was the issue it was Lloyds Bank and their ability to keep records. Yes I fell in to financial difficulty but was willing to pay but they couldn't prove the debt or prove the outstanding balance.

Please don't take me wrong I am over the moon:clap2:

Thanks you all so much for your help this has been going on for years

[FlamingParrot]

Re: LloydsTSB/Lowell Portfolio 1

Well that's great news.... :bedjump:

So how long can this show on my credit record???
Should it be a time from when Lloyds first recorded it or from the point Lowell did???

It should stay on record for 6 years from the date the default was first recorded by Lloyds, not when it was bought by Lowell. It's the original default date that counts. :grin:

I understand your comment re: my conduct with regard to the credit agencies...but it wasn't my conduct that was the issue it was Lloyds Bank and their ability to keep records. Yes I fell in to financial difficulty but was willing to pay but they couldn't prove the debt or prove the outstanding balance.

Basically, a default can be recorded whenever contractual payments are not maintained. Contractual payments are either the agreed monthly payments on a loan or minimum payments on a credit card. If you were unable to maintain them due to financial difficulties, then if you had made payments later on, or even settled the balance, a default would still appear on your file for that reason. It's a very common misconception that making payments towards an already defaulted account, or settling it, would clear the record. Sadly, it doesn't work that way.

If you want to know more about defaults, you may want to look at the guidance notes for filing defaults with the CRAs.

[Frustrated59]

Re: LloydsTSB/Lowell Portfolio 1

Thank you so much again for you advise.
I' will check the dates but I remember Lloyds removing it from expedian and then re-registering it again with a new date a few years back I guess I'll have to get experian to look in to it for me.
Thank you all once again I will recommend this site to anyone.