Lloyds Loan mis-sold?

antrobus

In summary: in Feb 2008 Lloyds gave you a £7500 loan. In 2010 you complained to Lloyds about this. They offered you a deal which you accepted at the time. Are you now saying that you are not happy with that deal?

Chickusdickus

I didn't accept the deal.

I'm hoping to re open the case. Based on the uncertainty of our economic state and the infamous amount of PPi mis-selling, I'm assuming the pressure on employees to hit targets created many situations like mine where people default on repayments for loans and mortgages.

I'm looking for advice and guidance on this issue?

Do you have any?

Chickusdickus

I defaulted on the loan on 2008. I agreed a repayment, but ended up on JSA. It was actually 2009 I sent the letter. My mistake. When i was offered the loan, I was already going under.

There is more to know here. i am facing Bankruptcy as a result of the past 5 years and how my father dying and the global recession hit me.

This is all a symptom.

Mara69

Chickusdickus wrote: »

I defaulted on the loan on 2008. I agreed a repayment, but ended up on JSA. It was actually 2009 I sent the letter. My mistake. When i was offered the loan, I was already going under.

There is more to know here. i am facing Bankruptcy as a result of the past 5 years and how my father dying and the global recession hit me.

This is all a symptom.

Still making excuses and still refusing to take responsibility...

Oh and no, I've never claimed PPI and yes, I am rather partial to certain bedroom antics

ILW

Chickusdickus wrote: »

I defaulted on the loan on 2008. I agreed a repayment, but ended up on JSA. It was actually 2009 I sent the letter. My mistake. When i was offered the loan, I was already going under.

There is more to know here. i am facing Bankruptcy as a result of the past 5 years and how my father dying and the global recession hit me.

This is all a symptom.

Most people have a father die on them at some point. Don't see it as a reason to not repay loans though.

Tixy

Chickusdickus wrote: »

I didn't accept the deal.

I'm hoping to re open the case. Based on the uncertainty of our economic state and the infamous amount of PPi mis-selling, I'm assuming the pressure on employees to hit targets created many situations like mine where people default on repayments for loans and mortgages.

I'm looking for advice and guidance on this issue?

So just to clarify - does that mean your initial loan agreement of £7500 still stands with the same APR at that time? that you didn't have any of the 1st year's payments that you actually made refunded to you and that you didn't have the £500 from them?

Did you simply ignore their offer letter at the time? or write back to say you were not happy with that offer?

How much do you owe now on this loan account? How much in total have you made in repayments on this loan since you first took it out?

You could certainly write to them again regarding your account.

What end position exactly would you like to end up at?

Chickusdickus wrote: »

I wrote to the Bank and was informed that particualr person no longer worked for them due to issues with his selling. They admitted a certain amount of liability, In writing, but came back with the answer most of you have. Yet still offered to refund any payments made to date, give me £500 and start a new lower loan, remove my OD and CC and considerably reduce my monthly and interest rate.

You think this is a good will gesture or an admission of fraud?

Only you have the wording of that letter but I would expect it to be worded very specifically so as not to be an admission of any fraud by the bank or their employee.

Just a question - you mention you 'managed to get hold of the notes for the loan app'. How and when did you get hold of them? Were they part of the original paperwork that was passed to you? Did they send them to you at some point? Perhaps in reply to a subject acceess request? Or did you manage to get them because your partner works there (if its the latter then I would be very cautious about using them in any negotiating with Lloyds).
Did you have them at the point you made your complaint in 2009 or onlymore recently?

DCFC79

Did you qustion the using of bank statements that weren't yours ?

Chickusdickus

Mara, i simply cannot get into a philosophical debate about 'responsibility'. It is too broad. needless to say, I politely disagree.

ILW, based on your delicate replies thus far, I was hoping for a more considerate reply other than, 'Your Father died...So what!
We all deal with death differently. It's a bit short sighted to assume you and I would deal with such in the same way.

Tixy, most of what you have suggested is still true, yes. I owe around 5500of the loan, 2000 OD and 1000 CC, and continue to make token payments. I still have the original letter. Yes I did make a note of adding that I had seen the system notes, and brought up the point of me NOT having and never having an RBS account.

I have been assured it is not against the law for me to request to see the notes. Anyone can request them. Very similar to the laws on CCTV footage with you in it.

He commited fraud, not me. his fraud constitutes a break in the contract, thus possibly making it null and void. Don't even get me started on Fiat Currency! All debt is illegal.

End position was i refused the offer and continue to repay. i did not re-negotiate a new deal. I decided, or rather had no choice at the time, to leave it and come back to it while i tried to get my life back on track.

I will go thru the return letter from them and look for specific lines of admission.

_Andy_

"All debt is illegal." LOL

ILW

Chickusdickus wrote: »

Mara, i simply cannot get into a philosophical debate about 'responsibility'. It is too broad. needless to say, I politely disagree.

ILW, based on your delicate replies thus far, I was hoping for a more considerate reply other than, 'Your Father died...So what!
We all deal with death differently. It's a bit short sighted to assume you and I would deal with such in the same way.

Tixy, most of what you have suggested is still true, yes. I owe around 5500of the loan, 2000 OD and 1000 CC, and continue to make token payments. I still have the original letter. Yes I did make a note of adding that I had seen the system notes, and brought up the point of me NOT having and never having an RBS account.

I have been assured it is not against the law for me to request to see the notes. Anyone can request them. Very similar to the laws on CCTV footage with you in it.

He commited fraud, not me. his fraud constitutes a break in the contract, thus possibly making it null and void. Don't even get me started on Fiat Currency! All debt is illegal.

End position was i refused the offer and continue to repay. i did not re-negotiate a new deal. I decided, or rather had no choice at the time, to leave it and come back to it while i tried to get my life back on track.

I will go thru the return letter from them and look for specific lines of admission.

Any possible fraud was against his employer though, not against yourself.