lloyds Current account

[McGinty]

Hi there-I would like a little advice on this account please. It is a Lloyds current account that my wife could not repay the overdraft on. I had made an offer to Moorcroft who are handling the debt to settle at £160 and they said no to this. I have improved the offer to £300 and they seem interested-letter attached. Trouble is they are asking for a lot of info and should I supply some or any? They are also saying her credit file would be marked as partial settlement. The condition in my offer letter was for a full and final settlement. Any help appreciated. Mc

[seduraed]

Re: lloyds Current account

The case you are thinking of is Hiramchand and Puminchand vs. Temple 1911. Which states that if a creditor takes part payment from a third party, the creditor cannot chase the original debtor. A new contract has been crated between the lender and the third paray. This extinguishes the original debt and the amount paid by the third party fulfills the new contract. The Pinnell case says that pat payment of a late debt does not extinguish the remainder of the debt.

[Diana M]

Re: lloyds Current account

Without knowing why the first charge was applied it’s difficult to advise. If the first charge applied was incorrect, then all subsequent are too. If the first charge is correct, most of the charges are likely to be correct and Lloyd’s will cite their terms relating to them.

What “charge”?

I can’t see anything on this thread to suggest the OP (or his wife) has a Charging Order on their property.

Or are you referring to interest and charges (packaged account) which were added to the account which has subsequently been assigned to Cabot?

In which case that issue could possibly become part of any Defence if Cabot issue a claim (together with the unlicensed issue).

Di

[McGinty]

Re: lloyds Current account

Thanks so much for that. Mc

[jaguarsuk]

Re: lloyds Current account

Without knowing why the first charge was applied it’s difficult to advise. If the first charge applied was incorrect, then all subsequent are too. If the first charge is correct, most of the charges are likely to be correct and Lloyd’s will cite their terms relating to them.

There’s no harm in trying, so I’d write asking for statements of the account from the first it went overdrawn to the date of closure. I’d state in the letter because you believe them to be incorrect and that Lloyd’s have sold a debt that shouldn’t have exisisted.

The best result will be that it’s too much like effort to investigate and they wipe them out. The worst is that they send everything through, they’re correct and you use half of the £2K you have received for mis-selling to settle this.

In either intanve you’re still quids in!

[McGinty]

Re: lloyds Current account

Any advice please?

[McGinty]

Re: lloyds Current account

My wife received a cheque in the region of £2k which was a good result. The total still outstanding debt has been inflate by various charges for being overdrawn and bounced debits etc. Is it worth having a go at Lloyds for this? Mc

[warwick65]

Re: lloyds Current account

Hi

The problem is, as I see it now

You have received a cheque for compensation that may or may not equal the amount of the current debt.

I do not see how you can have your cake and eat it- well not easily anyway. It would be lovely if you could either defeat any potential claim so you would be quids in or use the cheque to make a payment to clear the debt with cabot.

A large part of me wants you to be able to do that , but that is because I personally am no fan of financial institutions and even less of a fan of debt purchasers

Maybe do what is best for you

[McGinty]

Re: lloyds Current account

Received this from Cabot today as I told them ( Robinsons) the account was in dispute with Lloyds. I had sent a letter into Lloyds as advised and my wife received a cheque in relation to the mis-selling of this packaged account. I am keeping you all updated as I really appreciate your help. I shall just have to wait until I hear from them again. Thank you all. Mc

[charitynjw]

Re: lloyds Current account

http://legalbeagles.info/library/gui...ccess-request/

[McGinty]

Re: lloyds Current account

Hi there
Could someone give me a link for the standard SARS letter please? Mc

[warwick65]

Re: lloyds Current account

Lips??

Sorry I do tend to make the mistake of assumed knoeledge which I have no right to do.

[jaguarsuk]

Re: lloyds Current account

Lips??

Litigant in Persons or your average joe defending a case without a Solicitor

[McGinty]

Re: lloyds Current account

Lips??

[warwick65]

Re: lloyds Current account

They can issue a claim if they want. It would very much depend on if you could explain the legal arguments about not being authorised. I do not understand them although I am sure they are valid. Quite frankly they will, I think, avoid a big case on them but that doesn't mean they won't make claims against Lips