Help with whether a loan is invalid please.

ddraig1

Hi, I hope i can get some help with whether a loan agreement i have with Lloyds TSB is enforceable on their part.
I am only now asking this becasue of the way I have been treated over the last few days. A brief synopsis is:
I contacted the bank on the 27th of sept to ask for a loan repayment holiday as due to an accident at work i have been on zero pay since the 5th of August.
I was informed that they could not arrange a loan repayment holiday for october as it was too late BUT they could give me a temporary extension to my over draft for october and then i could have the payment holiday in November. I agreed.
October ends and i borrow the £200 needed to repay my over draft and await my payment holiday, but it never occures and the money i staken from my account as per usual.
I have contacted the bank and have been told that because i contacted their "customer support team" (which was a suggestion by the bank because these people could help me!!) my account has been frozen for the next 12 months, meaning no new overdraft facitlity and no loan repayment holidays, they failed to tell me this however.
Shortly after this a memeber of my family passed away suddenly and I have been trying to juggle my finances and my grief.
Today I have recontacted the so called customer support unit to complain, only for them to actually refuse to take my complaint and put the phone dpwn on me, I have contaceted them again and have now been able to register my complaints, but have been informed that because my loan was pre 2006 there was no loan holiday facility on it and I should never of been offered it in the first place.
I am now being charged daily for being over my overdraft and have no way to repay it, so I have reached my tether with Lloyds and want to annoy them.
I have sent a lettr to reclaim my charges due to my finacial hardship and I want to know whether my loan with them is void.
I have the customers copy of the agreement and the first thing i notice is there is no date on it, I assume becasue it was a contiuation of an existing loan??. Secondly my surname is spelt incorrectly as in ***WAY INSTEAD OF ***ROY. I as yet do not know whether they have a signed copy of the original agreement.
Is the lack of date and the factit is made out to another name enough for it to be classed as unenforceable. It is a pre 2007 loan.
Many thanks.

magpiecottage

The fact that you took out the loan before 2007 is of little consequence in terms of your rights because Lloyds TSB has voluntarily agreed to submit itself to the jurisdiction of the Financial Ombudsman Service.

That means they must accept a complaint by telephone and have 8 weeks to do respond from today - the difficulty is proving they received the complaint today. You could ring again, tell them you complained and the person at the other end just hung up but that the complaint is now running - or you could write a letter and hand it in at the branch. Key, though is that you will need evidence. A time, name of the person you spoke to, number dialled etc.

After that, if there is no response, you can go to the Ombudsman.

That is not to say you will necessarily succeed but a word of warning, you say "I have reached my tether with Lloyds and want to annoy them".

That is a vexatious complaint and the Ombudsman may throw it out without even looking at it. Some of the firms I work for now have clauses in their contracts allowing them to make a charge for dealing with complaints in such circumstances.

So keep to the point - your aim should be fair treatment for you, not what you percieve as just desserts for the other side.

ddraig1

Hi thanks, actually LLoyds have been very quick in dealing with my complaint regarding their poor service from the customer advisor, but I need to know whther the miss-spelling of my name on my loan agreement makes it a non enforceable loan.

iolanthe07

but I need to know whther the miss-spelling of my name on my loan agreement makes it a non enforceable loan.

Not in itself, no. Minor typos of themselves do not invalidate credit agreements.

ddraig1

thanks for your help

~Brock~

iolanthe07 wrote: »

but I need to know whther the miss-spelling of my name on my loan agreement makes it a non enforceable loan.

Not in itself, no. Minor typos of themselves do not invalidate credit agreements.

Agreed. It is likely to be still perfectly clear that the loan was yours, and unless you also misspelt your signature you would be hard pressed to argue that you did not enter into the contract.

Don't believe everything you read about loans being unenforceable, some people are paying out to misleading claims companies and then learning the hard and expensive way that loan contracts are binding, despite the odd minor misendeamour.