lloyds TSB loan, can anyone help?

tina1981

OMG!!!

I received a letter on Wednesday morning from Lloyds.

It reads as follows.......

Dear Mrs XXXX

Your Lloyds TSB reference number xxxxxxxxxxxx

Thank you for applying for your personal loan from us. We would like to move ahead with your application, but I need to check a few details with you first.


So if you would please ring us in the next day or so, we can fill in the gaps and get back to you with a decision without any further delay.

We are here to help with your application - or answer any questions - from 8am to 10pm, Monday to Sunday. Calls are free and our number is 0800 096 1237.

Yours sincerely




xxxx xxxx
Service Delivery Manager



I thought 'oh joy' this is finally being dealt with!!!!! Some one actually can help sort this situation out. Yeah right!!!! It turns out this is their response to the initial letter I sent back on the 30th June asking them to cancel my loan and revert me back to my previous one.

The guy put me on hold as I had told him that I have been mis sold this loan and am currently waiting on a case worker investigating this matter and also what was this letter that they have sent was responding to? At first he said he didn't know but once I asked if it was the letter dated the 30th June, he magically seemed to actually dictate the letter to me.

I am not holding out much hope on this getting sorted any time soon.

The letter they sent was dated 27th July. It took them 28 days to send me this response. I've made several phonecalls and had a meeting at the bank and since then.



Seriously, can anyone recommend a semi decent bank because we are looking to change banks.

Any advice appreciated x

tina1981

well subject to this meeting at the bank, I received the following letter dated 21st July 2009 - the day I had the meeting at the bank to try and get this sorted............

Dear Mrs xxxxxx

I am getting in touch to let you know that I have asked a colleague at customer service Bristol to look into your recent complaint for me. I am sorry to keep you waiting.

You may remember in my last letter I mentioned that we may need to pass your concerns on to someone else - as they would be better placed to handle this for you. This is what I've done.

They will be in touch with you direct and you should hear from them within the coming two weeks.

If you would like to discuss this matter further or provide further information please don't hesitate to contact me or a member of my team on the number above.

I apologise again for any inconvenience this may have caused and thank you for your patience while we get this matter resolved.

Your sincerely




Manager



Well two weeks is well and truly up and I haven't heard anything else.

Does anyone know what I should do? Should I go to the branch and take my tent and pitch up home until the branch manager will see me and sort this out? Do I wait to see if I will EVER get a response.

Seriously.....I am at my wits end. I can't sleep. I'm stressed all the time when I think about this- which is quite alot at the moment.

Any advice? x

tina1981

LAST LETTER!!!!! I didn't receive a last letter!!!!!!

I think I'm gonna cry x

tina1981

well still no reply today.

I phoned customer services on the number that was at the top of the letter. I gave the lady on the phone my reference number, basically she said that she thinks I will hear something within the next week. She has put a note on it as well. Lets hope I'm not sitting here in a week still with nothing.

x

jonesMUFCforever

Chairman's office ...............please phone them.

tina1981

Well here is the ending to my long drawn out tale.........................

A quote from the letter I received last week

My Decision

I'm pleased to tell you that I agree with you because:

*Your previous loan was at 15.5% and your credit card is currently at 17.9%. Although loan rates are fixed but credit card rates are subject to change I cannot see what benefit this new loan is to you.
*Credit cards are a useful financial tool when used sensibly. You appear to always make substantial repayments to your credit card and you are continuing to use it.
*We will refinance credit card borrowing onto a loan for a number of reasons, such as someone who is in financial difficulty and needs help with a structured repayment plan. On these occasions we would remove the credit card facility.
*You mentioned that the member of staff who agreed your loan told you that you were being charged an interest rate of 30%. This is the rate we charge when you withdraw cash on a credit card. As far as I can see this isn't something that you do.

I'm very sorry for what has happened but I'm pleased that you got in touch and gave us the opportunity to sort things out.

My Offer

Refund the interest you've already paid on your loan. This effectively means that your loan has been interest free sine June 2009.

I will then:

*Reduce your borrowing by £xx.xx as a gesture of goodwill, and arrange a new loan for £x,xxx at 15.5%through our Customer Support Unit.
*Make the repayments £xxx.xx per month which means you will repay your borrowing in 26 months time so long as you make all the repayments on time (This is the same terms as your previous loan).

Happy days!!!!! It's only taken 4 months to get this sorted but worth it to be put back into the position I was in before.

I will NEVER accept another invitation from the bank, especially when they tell me they can save me money. I'll be the judge of that. I've learnt the hard way but got there in the end and won't fall for there bumf a second time.

Thanks to all who gave me input and advice. It definitely helped x

mrcow

Glad that you're happy with the outcome. Thanks for the update.