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Lloyds TSB loan from 1998 already served default now getting payment demands WESCOT!

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Hi desperately need some debt advice, if I am in the wrong place I apologise in advance.

I got a loan of £1300 from lloyds TSB in 1998 and ended up with a default. I paid a debt collection agency £10 a month as it was all I could afford at the time. In 2005 the default dropped off my credit report. I have still kept up the £10 a month payment however cancelled the standing order the other month here's why.... The debt was with 'credit security'. In all the years I have paid I have never received any annual statements or correspondence from them at all. (Even though I moved in 2007 I hadn't heard from them before that so didn't give them my new address). Last month when the £10 failed to go out of my new bank account I didn't chase it as I didn't have any form of anything with details of the debt (alright I maybe thought it would be forgotten about too ;D) then out of the blue I receive texts from a bloke saying I had missed my payment. I ignored it and he text a couple more times. (doesn't seem very professional to me!)

I have now received a demand from wescot credit services for a total of nearly £2600.

So, I guess what I'm asking is... I feel I served my punishment by not being able to get credit for 6 years, but now it's being pursued again. If I leave it would they be able to reapply for another default/ccj for the account I have already 'served'? Or do I start again with the £10 thing? And how the hell has the debt doubled?!

I was a naughty teenager at the time but 14 years later? I had no idea how much I owed when I cancelled the standing order and for all I know it could have been paid!

Just to add, I know I spent the money however, I may have already paid it without the addition of whatever else they have put on top of the original amount so no need for parental tellings off.

The wescot letter is in my maiden name and I have no idea how they have found me.

I have rang them and reinstated the £10 but I feel a bit ripped off.:mad:

Any help much appreciated.

Comments

  • fermi
    fermi Posts: 40,542 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker Rampant Recycler
    They should not apply another default. You can only have one for any debt, and when it's gone from your file they are not allowed to add a new one again.

    There is some info in this link that may help with getting info on your agreement and statement of account for the debt.

    Getting information about your credit agreement
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • Thank you, thank you, thank you! Should I cancel the direct debit I have just set up do you think?
  • antrobus
    antrobus Posts: 17,386 Forumite
    It's still a live debt. They can still get a CCJ on it.
  • dt3887
    dt3887 Posts: 275 Forumite
    00millie00 wrote: »
    I feel I served my punishment by not being able to get credit for 6 years, but now it's being pursued again. .

    punishement served in your opinion or not, you owe the money full stop.

    i would say contact them and ask them for a breakdown of what they claim you owe them, work out over the years how much you have paid off. in theory, when you started paying the DCA, the interest should have froze on it, so it wouldnt go up, so you need to find out what has increased it
  • davek1
    davek1 Posts: 590 Forumite
    write to them and ask the to provide you with evidence of the debt including the original credit agreement. If they can't produce that then they couldn't pursue it through the courts. You then have to decide if you want to carry on paying or are happy to ride it out and wait for them to get fed up. Also ask for a full breakdown of credits and debits on the account from day one.
  • dt3887 wrote: »
    punishement served in your opinion or not, you owe the money full stop.

    i would say contact them and ask them for a breakdown of what they claim you owe them, work out over the years how much you have paid off. in theory, when you started paying the DCA, the interest should have froze on it, so it wouldnt go up, so you need to find out what has increased it

    I 'owe the money full stop' in your opinion or evidential? I stated in the original post that, for all I knew the debt could have been paid as I hadn't recieved a statement for 6 years. I appreciate 'your' opinion but i wanted to know if the default could be reapplied, and if anybody knew why the debt had doubled (somebody on here could have had the same scenario) I didn't need someone on their high and mighty. I have asked for a statement and I appreciate you took the time to reply but I feel that if you haven't got any evidence or legal background there is no reason to speculate negatively.

    Thanks so much to the people that replied with the genuine 'ask for a statement' I appreciate it, and I have done. For anybody that has an issue like this, and may be too afraid to post due to personal opinions - I will keep my progress updated.
  • Lensman_2
    Lensman_2 Posts: 1,506 Forumite
    Part of the Furniture Combo Breaker
    edited 30 November 2012 at 7:46AM
    For the help of us and others, please could you let us know specifically what you have asked them for?

    If I was in your shoes, it would have been a request for a copy of the agreement and statement of account under the Consumer Credit Act (a "CCA request") from Westcott. This will allow you to see if there is any legal basis for charges or interest after default. It costs £1. (The "Statement" will not provide a breakdown of the debt).

    I would also ask Lloyds TSB for a copy of all the information they hold on you under the Data Protection Act (a Subject Access Request or SAR). This will get you copies of statements, evidence of payment protection insurance (if any) and any unfair charges or interest applied. It costs £10 but it could save you more in the long run.
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