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Hi everyone.
I'm looking for some sound advice, I will try to be as clear and concise as possible with my points although there are a few to mention:
Lloyds TSB info:
Overdraft Account - Lloyds TSB
Opened as a savings account - 1991
Switched to classic account - 2005
Overdraft Added - 2006
Closing Balance - £2076.27
Quick description of the situation up to 1st credit:
I was a terror with my Lloyds TSB account overdraft facility and for that reason I managed to incur hefty charges throughout the years from 07/2006 - 09/2009 managing to accrue £1520 in charges which were paid from month to month, in 09/2009 I decided to jump on the band wagon and try to reclaim some of those unfair bank charges (approx. £200 a month was my best / worst
) so I thought I would have had a good case.
I drafted my letter to the financial ombudsman and sent as per instructions on the web at the time, and was told that I should contact my bank to inform them, upon calling Lloyds TSB they told me thanks for letting them know and to ensure that I wouldn't accrue any further charges in the meantime they would put me onto a arrangement plan until the matter was resolved, due to my naivety at said point I accepted and made a token payment. A few weeks later I received my response from the ombudsman stating that my claim was floored as Lloyds TSB had put the payment plan in place and this showed as a good will gesture and thus I my case would not be accepted for a claim :wacko:. This infuriated me an in response I called Lloyds telling them that I would not make any more payments towards my account. I held out from 09/2009 to 09/2011 and never heard anything from them in terms of threats, they just started piling on the debt again, month in month out I received additional charges to the figure of approx £1050. Then in 10/2011 they started legal threats and I decided to make one more token payment to keep them at bay.
Then, in 03/2012 I received a Default from Lloyds TSB, after this point the account was passed from DCA to DCA and I buried my head in the sand whilst maintaining my bitterness for Lloyds TSB and what I felt was underhand trickery to stop me from making my claim. In late 2013 the account was finally passed back to Lloyds (No TSB this time) who I planned to start a fight so I sent of a Subject Access Request and received all the documentation they held on me. Aside from what I already vaguely knew about my charges etc, I found one point which I believe is of interest: For a period of time in 2013 it seems my account was held by Moorcroft Debt Recovery Ltd, at the end of which in their notes it states "23/09/13 Balance Write-Off -2076.27" - does this mean that technically the debt is no longer enforceable?
Extracted points for ease of reference:
Total Charges from 2006/2012 - £2578
Excessive Fees pre Arrangement Plan (07/2006 - 08/2009) - £1520
Excessive Fee's added post Arrangement Plan (09/2009 - 02/2012) - £1058
Default Date - 03/2012
Moorcroft Debt Recovery Ltd - "23/09/13 Balance Write-Off -2076.27" - does this mean that technically the debt is no longer enforceable?
Unfortunately, 2014 was a bit of a year for me with bereavements, unemployment etc and I never got round to starting with Lloyds. In December 2014 I started to receive correspondence from 1st credit Ltd stating that they are passing me to their legal department to consider initiating bankruptcy proceedings (nice introduction may I add!), since this point I have been frantically pulling the SAR docs to pieces to ensure I have all my facts straight in order to form the correct response and also seek well informed advice. 1st credit have now hit me with a letter (see attached) dated the 12/02/2015 stating that they have now passed the account to their Legal department & that I have 10 days to respond before they review my account that may result in a 'Statutory Demand'. Obviously I don't want this, my partner has said she will lend me some money if I offer a full and final payment and as much as I don't feel I should owe a penny (total £2578 charges as apposed to the £2076.27 balance makes me want to
) I think she may be right and we should just put this to bed.
Questions
Obviously looking back I can clearly see that I have made some erratic & somewhat careless mistakes. For that reason your thoughts, comments & recommendations are more than welcomed so that I can form a completely rational & subjective response.
& thanks in advance!
I'm looking for some sound advice, I will try to be as clear and concise as possible with my points although there are a few to mention:
Lloyds TSB info:
Overdraft Account - Lloyds TSB
Opened as a savings account - 1991
Switched to classic account - 2005
Overdraft Added - 2006
Closing Balance - £2076.27
Quick description of the situation up to 1st credit:
I was a terror with my Lloyds TSB account overdraft facility and for that reason I managed to incur hefty charges throughout the years from 07/2006 - 09/2009 managing to accrue £1520 in charges which were paid from month to month, in 09/2009 I decided to jump on the band wagon and try to reclaim some of those unfair bank charges (approx. £200 a month was my best / worst
) so I thought I would have had a good case.I drafted my letter to the financial ombudsman and sent as per instructions on the web at the time, and was told that I should contact my bank to inform them, upon calling Lloyds TSB they told me thanks for letting them know and to ensure that I wouldn't accrue any further charges in the meantime they would put me onto a arrangement plan until the matter was resolved, due to my naivety at said point I accepted and made a token payment. A few weeks later I received my response from the ombudsman stating that my claim was floored as Lloyds TSB had put the payment plan in place and this showed as a good will gesture and thus I my case would not be accepted for a claim :wacko:. This infuriated me an in response I called Lloyds telling them that I would not make any more payments towards my account. I held out from 09/2009 to 09/2011 and never heard anything from them in terms of threats, they just started piling on the debt again, month in month out I received additional charges to the figure of approx £1050. Then in 10/2011 they started legal threats and I decided to make one more token payment to keep them at bay.
Then, in 03/2012 I received a Default from Lloyds TSB, after this point the account was passed from DCA to DCA and I buried my head in the sand whilst maintaining my bitterness for Lloyds TSB and what I felt was underhand trickery to stop me from making my claim. In late 2013 the account was finally passed back to Lloyds (No TSB this time) who I planned to start a fight so I sent of a Subject Access Request and received all the documentation they held on me. Aside from what I already vaguely knew about my charges etc, I found one point which I believe is of interest: For a period of time in 2013 it seems my account was held by Moorcroft Debt Recovery Ltd, at the end of which in their notes it states "23/09/13 Balance Write-Off -2076.27" - does this mean that technically the debt is no longer enforceable?
Extracted points for ease of reference:
Total Charges from 2006/2012 - £2578
Excessive Fees pre Arrangement Plan (07/2006 - 08/2009) - £1520
Excessive Fee's added post Arrangement Plan (09/2009 - 02/2012) - £1058
Default Date - 03/2012
Moorcroft Debt Recovery Ltd - "23/09/13 Balance Write-Off -2076.27" - does this mean that technically the debt is no longer enforceable?
Unfortunately, 2014 was a bit of a year for me with bereavements, unemployment etc and I never got round to starting with Lloyds. In December 2014 I started to receive correspondence from 1st credit Ltd stating that they are passing me to their legal department to consider initiating bankruptcy proceedings (nice introduction may I add!), since this point I have been frantically pulling the SAR docs to pieces to ensure I have all my facts straight in order to form the correct response and also seek well informed advice. 1st credit have now hit me with a letter (see attached) dated the 12/02/2015 stating that they have now passed the account to their Legal department & that I have 10 days to respond before they review my account that may result in a 'Statutory Demand'. Obviously I don't want this, my partner has said she will lend me some money if I offer a full and final payment and as much as I don't feel I should owe a penny (total £2578 charges as apposed to the £2076.27 balance makes me want to
) I think she may be right and we should just put this to bed.Questions
- Moorcroft Debt Recovery Ltd - "23/09/13 Balance Write-Off -2076.27" - should I even offer a full and final knowing this?
- If I do offer a full and final should I be requesting any other documents from 1st credit first?
- If I do offer a full and final can 1st credit remove the default from my CR even though it was Lloyds who submitted it against me?
- What do you guys think would be a reasonable offer? My thoughts is going in around £500 (at least they should knock of the charges accrued after the payment plan setup?)
- Can anyone point me in the direction of a good Full and Final offer Template for overdrafts with charges?
Obviously looking back I can clearly see that I have made some erratic & somewhat careless mistakes. For that reason your thoughts, comments & recommendations are more than welcomed so that I can form a completely rational & subjective response.
& thanks in advance!
Attached Files
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