lloyds Current account

[Diana M]

Re: lloyds Current account

Cabot do not have a license from the FCA. Would they need that to be able to issue with any possible court proceedings or to able even to acquire the debt from LLoyds in the first place?

Possibly

Di

[warwick65]

Re: lloyds Current account

If you wish to pursue a reclaim that is your choice but would likely be entirely separate to any potential claim.
The debt is owned by cabot.

I suppose it would depend on if she used any of the features or benefits of the account and just how much she had paid in fees.

[McGinty]

Re: lloyds Current account

Thanks for that and I have done so just now. I was told in an earlier thread that Cabot do not have a license from the FCA. Would they need that to be able to issue with any possible court proceedings or to able even to acquire the debt from LLoyds in the first place?

[McGinty]

Re: lloyds Current account

This was aLloyds 'Gold account whereby my wife was paying £10 per month for.

[jaguarsuk]

Re: lloyds Current account

Well no, but the guide by the money saving expert goes through what counts as mis-selling and if I have misinterpreted then I apologise for muddying the waters.

[warwick65]

Re: lloyds Current account

Earlier in the thread I'm sure (if memory is serving me correctly) the OP stated that the bank account had fee applied and that his wife had only taken it in conjunction with agreement of the overdraft?

That would be a form of mis selling of the product.

All I can see is the reference to a gold account. If I have missed something please point me to it. In any event, just because there was a fee doesn't mean it was mis sold

[jaguarsuk]

Re: lloyds Current account

What was mid sold? All I can see is an overdraft

Earlier in the thread I'm sure (if memory is serving me correctly) the OP stated that the bank account had fee applied and that his wife had only taken it in conjunction with agreement of the overdraft?

That would be a form of mis selling of the product.

[warwick65]

Re: lloyds Current account

Personally I would be making a complaint to LLoyds for misselling of the account, the payout from them for the fees paid could be quite substantial. Martin Lewis (Money Saving Expert) Guide to and free tool for Reclaiming here.

It may mean that you can negotiate a settlement on this and offset that against any recovery of the fees from Lloyds.

What was mid sold? All I can see is an overdraft

[jaguarsuk]

Re: lloyds Current account

Personally I would be making a complaint to LLoyds for misselling of the account, the payout from them for the fees paid could be quite substantial. Martin Lewis (Money Saving Expert) Guide to and free tool for Reclaiming here.

It may mean that you can negotiate a settlement on this and offset that against any recovery of the fees from Lloyds.

[warwick65]

Re: lloyds Current account

I don't have a crystal ball nor am I qualified to advise. You need to do what is best for you.

I can't recall how much this is for

[McGinty]

Re: lloyds Current account

So...is it wise to make an offer? Mc

[warwick65]

Re: lloyds Current account

I always wonder what that means.! 87% of judgements are default, that could be because many defended claims are successfully defended. No figures for that

[Diana M]

Re: lloyds Current account

One fact to be considered is that over 80% of debt payments follow a default judgement. Do you want to add to that figure?

That should only happen if the Defendant fails to file the Acknowledgement of Service or subsequent Defence by the appropriate court deadline.

It also happens if a claim is served on an address where the Defendant doesn’t live in which case they would probably make an Application to set aside the Default Judgment.

The new Pre Action Protocol introduced on 1st October requires the creditor/debt owner to jump through some hoops before issuing a claim.

I think the statistic you’re quoting is 87% not 80%.

Di

Re: lloyds Current account

Another letter from Cabot today-potential legal action. How should I respond on this please? Mc

In the immortal words of "Clint - Do you feel lucky?"

Re: lloyds Current account

Another letter from Cabot today-potential legal action. How should I respond on this please? Mc

One fact to be considered is that over 80% of debt payments follow a default judgement. Do you want to add to that figure?