bank loan:lloyds tsb

taka1

-I have a loan with Lloyds tsb
-the balance is £5 300
-l wrote to the forum last year asking for advise on how to get the loan written off
-l was advised that l had no chance of getting the loan written off
-l was advised that to claim ppi instead
-l was advised that l had good chances of claiming and winning the ppi case
-l did so a late last year
-lloyds tsb never wrote back to me in regards to the ppi
-l called them and they advised that the bankers association had taken their case to court and they are waiting for the outcome of the court case

Qst 1
Shall l wait for the outcome of the court case or shall l take my case to the financial ombudsman service. I am afraid that if l take it to fos it might take forever. At the same time we do not know what the out come of the court case will be


I have cleared all my debts in the last two years and this is the only one l am left with. Due to the fact that l struggled in paying it over the years, Lloyds tsb has gone to the extend of putting it as a default from my part on my credit file. Obviously this has affected my credit file.

I have requested for a copy of the original agreement but Lloyds tsb has failed to provide one. I have always argued with them that the loan is not enforceable by law hence they cannot say l have defaulted

Qst 2
Since they cannot provide a copy of the agreement, was Lloyds tsb right to inform the credit reference agencies that l have defaulted the loan
Can the default be reversed at all

Please advise on the next step l should take

Tixy

Hi

Court cases have decided that even without a CCA agreement or a valid CCA agreement lenders are allowed to report to the CRAs and to issues defaults. You cannot contest that.

Regarding the PPI reclaim - ask on the reclaim PPI board,
Reclaim Bank & Credit Card Charges - I expect they will know about the court case and whether you have to wait for a result.

di3004

Hi there

When you requested for a copy of the loan agreement, did you so in writing?
And if so did you enclose £1 cheque or postal order?
They should have provided you with this by 12 days of request.

I belive the start of the case in regards of the JR is on the 25 Jan, and may last for 4 days, or expected to, but don't know how long it will take them to hold to this matter.

Keep at them, its up to you if you want to give it more time.

However, when it comes to a final decision, the timescale of that to complain to the FOS is 6 months as from the date of the final letter, but obviously you've not got this far as yet.

Good luck with this and please also feel free to post on the link posted by Tixy - via PPI reclaiming & Discussion thread, you could also check out what others are doing that are in the same position as yourself.
http://forums.moneysavingexpert.com/forumdisplay.php?f=169

More details here too;
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Di