Old loan driving me mad!

Frustration

I don't know if this is the right place to post - but here goes.

I took out a loan with Lloyds TSB/Blackhorse back in June 2006 for 6K.

The repayments were £149.55 per month

I payed these repayment for 30 months.

Then I had to have an operation - so an agreement was arranged, where I paid £35 for 3 months.

I then paid again £149.55 for 8 months, and £150.00 for 2 months (I do not know why it was 150 for two months)

I then had to have more surgery - resulting in more time off work, and eventually me having to leave.

And arrangement was then made where I paid £100 per month - which I have done so for 14 months - the latest one being April 2011.

If my calculations are correct - I have paid £7487.90 - and am obviously in arrears.

I have the odd phone call from LLoyds regarding this - and they just confuse me.

My concern is - on my bank statement the loan is now in a minus figure of about £1500 - why is this?

I am very confused.

Hope somebody can help and advise

Hannah_10

I don't know either, but my first step would be to ask LTSB to explain it. A quick phone call might shed some light?

Frustration

Hannah_10 wrote: »

I don't know either, but my first step would be to ask LTSB to explain it. A quick phone call might shed some light?

I think I will write to them and the omdudsman - at least then, things cannot get misinterpreted

Foggster

Do you mean an online bank statement of Lloyds?

A minus sign on the loan is the amount still owing.

How many years was the original for and what was the interest rate?

_Persephone

Frustration wrote: »

I think I will write to them and the omdudsman - at least then, things cannot get misinterpreted

Pretty sure the Ombudsman won't want to know until you have followed the official complaints procedure.

Hannah_10

I don't think you've understood what the ombudsman does. He resolves disputes that have already been made as written complaints and recieved an unsatisfactory response. This isn't in dispute yet, you haven't even asked them about it, it could be a simple case of a typo or that you have not understood the way they write.

Frustration

Foggster wrote: »

Do you mean an online bank statement of Lloyds?

A minus sign on the loan is the amount still owing.

How many years was the original for and what was the interest rate?

In March the minus figure was minus £1489.03
And now in April it is minus £1510.74

Tixy

Well it sounds like you might have arreas and are slipping father behind each month. Can you see the full statement? How much interest was charged in April? any other charges? PPI or anything? and what payment was made?

CH27

Frustration wrote: »

In March the minus figure was minus £1489.03
And now in April it is minus £1510.74

If you are still making reduced payments then your arrears are building every month & will continue to do so.

Frustration

Tixy wrote: »

Well it sounds like you might have arreas and are slipping father behind each month. Can you see the full statement? How much interest was charged in April? any other charges? PPI or anything? and what payment was made?

It is online - so do not have a full statement.
It must be interest - and I will have to write to them.

Because I cannot be that far behind

Loan was £6,000
And payback should be £8,973
Which is 17.13%

This is getting me down

I am still not back to health, and still now working

Frustration

Hannah_10 wrote: »

I don't think you've understood what the ombudsman does. He resolves disputes that have already been made as written complaints and recieved an unsatisfactory response. This isn't in dispute yet, you haven't even asked them about it, it could be a simple case of a typo or that you have not understood the way they write.

So I will write to LLoyds first - and if I do not receive an explanation - I can go to the ombudsman?

The thing is - Lloyds did call me, and when I explained my situation and that I was still out of work due to surgery and ill health, they told me not to worry and that I could still just pay £100 per month and not anymore.

It was not explained that I would incur anymore interest.

I must be very stupid and naive