Bank Chasing me for money! Heeelp!

StuC75

Zinx as a DCA have been sold on the debt at what is likely to be a rate of pennies in the Pound (e.g. the Bank have Transferred the account on - likely for a Fraction of what the full balance is)..

Many of these may be Statute Barred so they look to recoup whatever they can.

!!!!!! (Full & Final Settlement) tend to be for an immediate payment..

Threads elsewhere on Statute Barred & DCA's will normally suggest the 'prove it route' of communication with the DCA (Check out the relevent stickies). Asking that they provide evidence of this liability and how this debt accrued - particularly as the only account you recall had a 3p credit balance.

You may have a valid argument of Charges upon charges 'snowballing' (whats ethically correct and whats allowed in the T&C's may be 2 different matters),, But they may allow a lower settlement if were to offer 1/10th of the balance as a !!!!!! payment..

McClane54

Ive never checked my credit file etc or know where to start

How would one go about that?

when i pay the money, do i ask them to take it off my credit file?

mynameistallulah

cautiousjon wrote: »

I would contact Lloyds TSB and ask the bank what the charges are for. I wouldn't agree to pay a penny until I knew why I was being charged. If the reasons they give are totally valid, you should then pursue a settlement.

The charge will be an overdrawn charge from the previous month. Then, because it was not paid, further charges would be added each subsequent month.

Personally I think it would be a damn cheek to start querying it now.

McClane54

mynameistallulah wrote: »

The charge will be an overdrawn charge from the previous month. Then, because it was not paid, further charges would be added each subsequent month.

Personally I think it would be a damn cheek to start querying it now.

thats proberly right, It proberly is a damn cheek but finally i want to address the situation

mynameistallulah

McClane54 wrote: »

thats proberly right, It proberly is a damn cheek but finally i want to address the situation

So contact Zinc and pay up - it can all be sorted in a matter of minutes!

McClane54

mynameistallulah wrote: »

So contact Zinc and pay up - it can all be sorted in a matter of minutes!

That easy hay, I dont have £300 to pay them in miniutes

Tixy

I take it you don't still have copies of the statements / letters lloyds sent to you for the few months after you stopped using the account?

Did you not look at the statements at the time and see the £35 charge taking you into an unauthorised overdraft?

I would start with contacting lloyds by phone to see if they can provide you with information as to why the charge originated (probably for going unauthorised overdrawn the month before you stopped using the account or a bounced direct debit or something).

See what lloyds say, they may even let you settle with them for a much lower figure. Although if Zinc have actually purchased the debt rather than acting on behalf of lloyds they may not.

If you cannot get it sorted with lloyds by phone - then send the prove it letter template to Zinc as a starting point.

It is worth checking your credit files - there are guides on how to do this - each agency either has the £2 report you can buy, or you can sign up for free trials (only free if you remember to cancel them)

mynameistallulah

McClane54 wrote: »

That easy hay, I dont have £300 to pay them in miniutes

Then you really need to get on top of your finances. This is what happens when you think you can ignore your debts.

McClane54

ive just signed up to equifax to see my credit file, what im doing or what to look for i dont know

McClane54

right all the other stuff on my credit file is all green and happy days

heres my lloyds tsb bit

they say its settled???? anyone have any advice?