Lloyds TSB CC bad debt

michael1983l

I have a bad debt with LloydsTSB, from before they were broken up. Question is, which one do I owe the money to now? And will both of the new banks have me black listed or just one of them?

jonesMUFCforever

It was my understanding that TSB was set up as a clean bank so any debt would belong to Lloyds.

Have you had any correspondence from them?

Thrugelmir

Which bank do you hold your account with?

pvt

If you have bad debt with any bank they will report it one or more of the credit reference agencies. That means you are, to use your own terms, "black listed" by the CRAs, so any banks that check your credit profile with a CRA (which is all of them) are unlikely to lend you money.

michael1983l

Thrugelmir wrote: »

Which bank do you hold your account with?

LloydsTSB, it wasn't separate banks when I had the account. I realise that the CRA's will effectively blacklist me, but after everything has dropped off my credit file I am wondering if I could potentially use one of the banks again.

jonesMUFCforever

michael1983l wrote: »

LloydsTSB, it wasn't separate banks when I had the account. I realise that the CRA's will effectively blacklist me, but after everything has dropped off my credit file I am wondering if I could potentially use one of the banks again.

But in post 1 you say TSB.
Therefore you defaulted before the split your debt now is with Lloyds.
If you defaulted and they have transferred your account to collections you don't have a working account with either now?

opinions4u

jonesMUFCforever wrote: »

It was my understanding that TSB was set up as a clean bank so any debt would belong to Lloyds.

That's absolutely not the case.

But LBG have had to show the EU that the loan books (mortgage, unsecured, credit card, overdraft) of the new TSB are of an equal or better quality than the retained Lloyds brand.

But some under-performing loans will go with TSB.

Debts that have already been accounted for as written off (but which may be recovered later) will also be remaining with Lloyds. Assuming I've remembered the numerous press articles I've read on the subject accurately.

As to the OP's question, what does your latest statement say? Have you rung them?

jonesMUFCforever

opinions4u - What I meant was it has none of the old legacy PPI, Loan swaps, bad debts etc from LLOYDS TSB accounts.
I was not talking about existing accounts which may well turn bad from this year on.

It has started as a clean bank now when Lloyds report their annual figures next month it will be interesting to see if bad debts are shown per brand not just as a lump sum.
All will be revealed when it gets sold off this summer.

opinions4u

jonesMUFCforever wrote: »

opinions4u - What I meant was it has none of the old legacy PPI, Loan swaps, bad debts etc from LLOYDS TSB accounts.

Got you. Yes, I interpreted your meaning incorrectly.

All will be revealed when it gets sold off this summer.

Yes, all things being equal TSB looks a fantastic opportunity. One assumes the sale price will be at a premium.