Lloyds TSB VISA Default

enigma-123

Hi
Hope somebody can help as I am about at the end of my tether with Lloyds.

I checked all 3 of my credit files on 23rd June this year, Experian 999 out of 999, no problems there, completely clean. Equifax on the other hand had a default registered from Nov 2006, this was for a Credit Card I opened in early 2003. CallCredit also had the same default listed with them.

The default was registered while I was trying to claim back charges and missold PPI.

In Feb 2005 I was a passenger in a bad car crash, I was unable to work (self-employed computer engineer) for almost 3 months and after that I had to build up my client base again which took another 6 months or so. I tried to make a claim on my PPI but was told that the cover was not for self-employed only employed people. When I took out the Credit Card & sold the PPI I was self-employed and had been for 10years or more and my Business account was with Lloyds anyway.

To cut a long story short I stopped paying my credit card when they refused to refund my PPI and also my charges, this came to about £1,800. I owed them £2,200ish. I've heard little or nothing from them until now. I have asked them to remove the default and I am getting nowhere, sine 23rd June 2009 I have made around 50 calls and sent 5 faxes, they have written 8 letters to me all saying that my credit file reflects the way that I operated the account and will not be changed until Nov 2012, this is making it impossible for me to get another mortgage without paying 40%+ deposit and 8%+.

Any ideas?

Thanks in advance.
James

enigma-123

I did not make it clear in the original post but;

My claim for charges and PPI was never completed, did the SAR and the first 2 letters but never sent in a N1 to the court. At the same time I started to claim charges for my Business Account and my Personal Account with Lloyds. I have checked through the charges etc... and added the stat 8% and the total is over £6,000 to be claimed.

I know that the obvious thing to do is take it down the county court route, but to be honest I get so stressed and depressed with the whole situation it makes life at home with the wife & 4 kids unbearable and being productive at work becomes impossible.

Lloyds really have made my life pretty crap for the last 4 years!!!

PARIS_5000

enigma-123 wrote: »

Hi
Hope somebody can help as I am about at the end of my tether with Lloyds.

I checked all 3 of my credit files on 23rd June this year, Experian 999 out of 999, no problems there, completely clean. Equifax on the other hand had a default registered from Nov 2006, this was for a Credit Card I opened in early 2003. CallCredit also had the same default listed with them.

The default was registered while I was trying to claim back charges and missold PPI.

In Feb 2005 I was a passenger in a bad car crash, I was unable to work (self-employed computer engineer) for almost 3 months and after that I had to build up my client base again which took another 6 months or so. I tried to make a claim on my PPI but was told that the cover was not for self-employed only employed people. When I took out the Credit Card & sold the PPI I was self-employed and had been for 10years or more and my Business account was with Lloyds anyway.

To cut a long story short I stopped paying my credit card when they refused to refund my PPI and also my charges, this came to about £1,800. I owed them £2,200ish. I've heard little or nothing from them until now. I have asked them to remove the default and I am getting nowhere, sine 23rd June 2009 I have made around 50 calls and sent 5 faxes, they have written 8 letters to me all saying that my credit file reflects the way that I operated the account and will not be changed until Nov 2012, this is making it impossible for me to get another mortgage without paying 40%+ deposit and 8%+.

Any ideas?

Thanks in advance.
James

A default that is paid or unpaid will stay on your credit for 6 years and because you stopped paying that gives them the right to record this as a default.

Good luck

esmerellda

Hiya xx

Okay first you need to complete your charges and credit card claim. I;'m sure you know this now but you really shouldnt have stopped paying the card as thats whats cause the issue now with the default. You can fight to get them removed as the full default amount was in dispute.

I wouldnt recommend taking the business charges claim in to court at the moment.

The PPI I'd take to the FOS - The credit card charges I'd take to court.

The charges on the current account will be held up for the outcome of the test case.

Whilst the credit card account was in dispute (with the PPI and charges) though they shouldnt have entered a default on your credit file, at least not for the full sum, possibly the £400 that wasnt disputed.

If they are standing firm (and I would like to see the letter you wrote them and their response) then you do have the option of taking them to court to remove the markers from your credit file under the data protection act - not easy and can be costly.

Other way is to offer to drop the PPI/charges claim on the credit card in return for them removing the markers off your file and setting up a repayment plan with them for the outstanding amount. Otherwise you'll enter PPI with FOS (and you will win on that) and charges at court (same) and also take them to court for removal of the default. (just an idea as i presume it would be more valuable to you to get the credit file restored and get a decent rate mortgage than the refund of the ppi/charges)

enigma-123

Thanks Esmerellda & Paris 5000,

I have spoken to Lloyds re: removing default in exchange for payment, I even offered to make payment in full in exchange for them removing the default but they were just not interested. So annoying that I choose to stop paying because they were not responding in the manner I expected, my own fault I guess.

enigma-123

Just wondering if anyone has had a default removed by Lloyds. Not sure about the legality of entering a default against someone and allowing it to stay on record once the court have ruled the balance must be reduced by 70-80%.

Does anyone have experience in this area?