Advice re: Repaying a debt

Riley

Hi

I owe Lloyds TSB £2100 for an overdraft after my account was closed. I have hidden my head in the sand with debts for so long now, but this is the last one for me to sort out, so a monumental milestone.

I just called the collections centre and have been told it has been passed to Allied, a recovery service. When I called the number given there was a recorded message saying the person was unavailable.

I'm not sure what stage this is at, whether (or how much) extra charges will have been added as a result of this, and what the best way is to get this sorted once and for all. Any advice anyone?

Thanks in advance

beentherewornthetshirt

First I would write to Lloyds re bank charges, it is very possible that they have been adding these every month.

Second, Allied is probably Allied International Credit, their numbers always go through to answerphones, it is one way of them getting your contact number. Wait until they write to you. When/If they do and you are in contact with Lloyds re illegal bank charges the account is realistically in dispute.

BettyRubble

Hi,

From my experience of these companies they normally try and get you to pay it off in one go at first...I know I have never been in a position to be able to do this and so then it has got down to negotiating a repayment figure. If you are in a position to do this they often offer you a reduced settlement figure which can be alot less than the original debt. You need to have in mind a figure of what you can afford to pay them when you call them back, whether that be a lump sum or a monthly amount. Don't let them bully you into agreeing to pay back what you can't afford. Good Luck.

Riley

Hi, thanks for the help. Really I want to get this paid off immediately as this will be a very important step for me. I have the cash ready, I just want to pay it.

Lloyds passed me from their collection centre to their recovery department and then referred me to this number for Allied. Basically I wondered whether this would result in more charges from them etc. and I just want to know how much I need to give them to resolve the debt in full.

After that they'll get a letter the following week to claim back bank charges, but that is a separate matter - I want to pay my debt first.

Edit: I can afford to pay the full amount now, as I have ignored them until I had the money in place. Not good tactics I know, but I'm here now. Should I still be trying to negotiate in this position? I just want it done with.

BettyRubble

See what they offer first...you may save some money..

beentherewornthetshirt

Write to Lloyds in their collections centre in Brighton offering a full and final settlement of 50%. See what they say. Do you have anything other than Allied for the agency and the phone number, your reference or anything?

Riley

All I have is my account number and sort code, as I've only just found out that they have passed the debt to Allied.

Does anybody have any direct experience of this - I can afford to pay the full amount but obviously if they are at all likely to accept less then I'm willing to give it a try!

Also, it was my intention to recliam bank charges once this was sorted - would that not be affected if I agreed to pay less than full amount?

Thanks again...

Riley

Hi again folks

I've tried to call the number for Allied again and still there is a recorded message from 1st April telling me to leave a message. Why would they not bother to answer people calling specifically to try to pay the debt?!

Has anybody got any more ideas?

Thanks in advance

raq

beentherewornthetshirt wrote: »

First I would write to Lloyds re bank charges, it is very possible that they have been adding these every month.

Second, Allied is probably Allied International Credit, their numbers always go through to answerphones, it is one way of them getting your contact number. Wait until they write to you. When/If they do and you are in contact with Lloyds re illegal bank charges the account is realistically in dispute.

Yes I would. We where in a similiar situation a few years back. Owed £2500.00 on the account. Closed onto cccs. Parents paid £1.000 it last year. £1500.00 outstanding then wrote to lloyds who confirmed they gave us back our charges for the 3 charges so then I only had a balance of £252.00 outstanding. They where helpful. Spoke to the people based in brighton. I had never found the local branches helpful at all.

good luck

firesidemaid

i don't know whether the money you owe includes bank charges or not - is the amount you have worked out only what you have borrowed?

i would try to ring lloyds again, as you are trying to pay off your debt yet the company they have 'sold' it to are not allowing you to pay it off.

i would explain this to lloyds again, tell them you have the money and wish to pay your debt, but that no one is letting you. see where you get, and follow this up in writing?

good luck