Can i write off my debt?

mattie3000

i got a loan out online with lloyds in 2004-2005 not sure will found out if u need to know.(have already got a £11.52 phone bill for being on hold and getting nowhere)

the loan was for £2000 which i was paying for 4-5 months then lost my job and PPI would not help me, then from there they give me a bigger overdaft to pay the loan, then they put me on a 6 month plan of paying less which i have done for the past 2 years, now lloyds have past the debt into Moorcroft Debt Recovery

for the past 2 years i have been paying £17 in and they have added £25-£26 each month

so on my statement it says i owe £1870 of which £1870 is arrears

aslo on my statement it says

"Loan Provided: 15 Mar 2006
This is the date of the first movement on your account"

not sure what this means as am sure the loan is older this this

if i can get this wrote off could you point me to a template letter or tell me or i need to contact, or do i need to go to CAB


thankyou for your time and any help

Mattie

PNPSUKNET

You admitted it by paying drrr

sofababe

Not sure what u mean by having it written off? The only way of having it written of is if its statute barred, which it isn't. If the PPI u were sold is useless (you tried to claim but couldn't) u should claim it back. This could pay off a large chunk of the debt. Also if its been passed to a DCA there is more chance of getting the interest frozen/charges stopped so any payment made will go toward the balance.

If u are thinking of unenforceability there are letters u can send to request the paperwork needed.

ETA: Actually, I've just reread your post and u say they gave u an overdraft to pay of the loan. Unenforcability won't work with an overdraft.

mattie3000

thankyou for the info

i will look more into PPI

i was thinking of unenforceability, the loan and overdraft is 2 different debt's they give me a bigger overdraft each month so i had enough money to pay the loan, so is unenforceability worth ago aswell?

sorry if i dont understand what you put

thankyou for your time
mattie

sofababe

mattie3000 wrote: »

thankyou for the info

i will look more into PPI

i was thinking of unenforceability, the loan and overdraft is 2 different debt's they give me a bigger overdraft each month so i had enough money to pay the loan, so is unenforceability worth ago aswell?

sorry if i dont understand what you put

thankyou for your time
mattie

I was just clarifying whether it was one debt or two. If the loan was taken out before 2007 u may have some luck with unenforceability tho as the debt was still with the OC until recently its less likely but definitely worth a try. Send them a CCA request for the loan and certainly look into reclaiming the PPI. What reason did they give for not paying out when u claimed?

di3004

Hi there

The chances are, you could make a successful reclaim on the PPI side of it, and if successful this will help reduce the balance if any missed payments/arrears, anything remaining plus interest will come back to you.

If you could not make a successful claim, then I would also cancel the ppi, maybe do this once resolved with a ppi reclaim, although your able to cancel the ppi at any time.

For more on reclaiming the ppi check this link out here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

And ask for any help in relation of ppi on this thread here;
http://forums.moneysavingexpert.com/forumdisplay.php?f=169