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

[McGinty]

Re: lloyds Current account

Sorry forgot to post the letter!!

[McGinty]

Re: lloyds Current account

Any chance of some guidance here please? Mc

[nemesis45]

Re: lloyds Current account

Hi,

What is the outstanding amount?

A full & final offer of settlement is really a " negotiation " process and it's best to offer no more than 10-15% of the OSB for a start.
Personally I would make the offer to the original creditor directly.
As to Moorcraps " request to know where the funds are coming from for the offer it's none of their business!!
DCA's believe that they have a " right" to see detailed financial details but no such " right " exists.

It is your money and your right to make an offer of what is affordable to you without causing any hardship to your self and your family.

Make the offer to the creditor as a " gesture of good will" without any admission of liability.
If you need help with a letter please let me know.

nem

[Lowry1234]

Re: lloyds Current account

Thanks nem for your post I nearly sent my financial statement to moorcofy now will send my offer direct lloyds current acc as I'm in th same position just want to get rid of it if I can

[stevemLS]

Re: lloyds Current account

There is an advantage in saying the funds come from a third party insofar as they cannot then chase you for the balance (The rule in Pinnels case if I remember rightly).

[McGinty]

Re: lloyds Current account

Thanks Nem. The balance £1053.52. I had made an offer of £160 and it was refused-obviously I should be speaking to the organ grinder not monkey Moorcroft. The second offer was £380 and as Lowry above we just want to get rid. I will approach Lloyds direct now that you advise this. I would appreciate a template letter for this purpose. Mc

[Lowry1234]

Re: lloyds Current account

Thanks Nem. The balance £1053.52. I had made an offer of £160 and it was refused-obviously I should be speaking to the organ grinder not monkey Moorcroft. The second offer was £380 and as Lowry above we just want to get rid. I will approach Lloyds direct now that you advise this. I would appreciate a template letter for this purpose. Mc

I made an offer three years ago,..they never replied...I've paid a small amount each month my debt is 3k
the offer will be 10% also....
or back to small payments each month...
they took me to court for a credit card 5yrs ago. Debt 17k ccj repayment £1
im writing to head credit honcho...Lloyds don't seem to respond! But I've learnt that if you put the word complaint in your letter they take a different view....
lets see what happens

[McGinty]

Re: lloyds Current account

I had forgot all about this! Got a letter from Cabot today and they are wanting me to contact them to discuss with the usual threats within the letter if I fail to do so. Is there any way that I can get this returned to Lloyds so I can negotiate a settlement with them directly or as NEM suggested above should I just send an offer to LLoyds anyway? By the way, this account was one of their 'Gold' accounts back in the day and my wife was paying £10 per month for the usual services attached to this type of account. Thanks Mc

[Lowry1234]

Re: lloyds Current account

Hi
just to update you...mine was a gold current account I made a complaint for miselling
i got a refund of 1800.. banked the-cheque...but account was still showing 3k overdrawn
i wrote to ceo kicked off..next month checked my credit file account closed and disappeared
nevr heard from Llloyds again this was about two years ago
hope this helps
i told them I was 3k overdrawn due to them as the bank charges exceeded 3k

[nemesis45]

Re: lloyds Current account

I had forgot all about this! Got a letter from Cabot today and they are wanting me to contact them to discuss with the usual threats within the letter if I fail to do so. Is there any way that I can get this returned to Lloyds so I can negotiate a settlement with them directly or as NEM suggested above should I just send an offer to LLoyds anyway? By the way, this account was one of their 'Gold' accounts back in the day and my wife was paying £10 per month for the usual services attached to this type of account. Thanks Mc

Hi Mc,


Lloyds Will refer you to Carboot who now own the account.

Personally I would make the Full & Final settlement offer to Cabot as suggested previously ?

nem

[Diana M]

Re: lloyds Current account

I had forgot all about this! Got a letter from Cabot today and they are wanting me to contact them to discuss with the usual threats within the letter if I fail to do so.

Is this the first letter you have received from Cabot i.e. a Notice of Assignment?

Which Cabot now owns the debt? Is it Cabot Financial (UK) Ltd or Cabot Financial (Europe) Ltd.

Maybe check if there are any potential assignment issues before making an offer.

When a debt changes hands the purchaser doesn't always inherit all the information they need to enforce it. Have you looked into any packaged account issues?

What do you mean when you say the letter contained ""the usual threats" - were legal proceedings mentioned?

Di

[warwick65]

Re: lloyds Current account

Is this the first letter you have received from Cabot i.e. a Notice of Assignment?

Which Cabot now owns the debt? Is it Cabot Financial (UK) Ltd or Cabot Financial (Europe) Ltd.

Maybe check if there are any potential assignment issues before making an offer.

When a debt changes hands the purchaser doesn't always inherit all the information they need to enforce it.

What do you mean when you say the letter contained ""the usual threats" - were legal proceedings mentioned?

Di

To add to Di's post. I notice it is 2 1/2 years since you made an offer- or at least posted on here about it. Now while that would be seen as an admission of liability, it maybe that Cabot know nothing about it so:

How long is it since either the last payment was made on it or the account was terminated (whichever is the more recent)

[McGinty]

Re: lloyds Current account

We were in an arrangement with a debt management company and the last payment made was on 15th December 2014 and that was for the sum of £3.38 paid to Lloyds. The chap who was running the debt management company fell into bad health and retired at the end of December 2014. My wife had a letter from Lloyds on 18th July this year saying it had assigned the debt to Cabot Financial UK. We also received a letter from Cabot saying they had bought the account around the same time. Their most recent letter dated 18th September stated my wife had to make contact within 28 days from that date. They also state in the letter 'as a reasonable next action to recover the outstanding balance the account has been reviewed for legal action'. Mc

[McGinty]

Re: lloyds Current account

Good evening Di, please see my post earlier this evening. What potential assignment issues might I be looking for? Please forgive my naivety but again what issues would I be looking for in a packaged account. We have never raised any issue with Lloyds in respect of the account in the past. Needless to say in the last year or two of the account there was bounced debits etc.
Any more information required please ask. Mc