Friend being threatened by Lloyds

blue_bee

JimmyTheWig is right, they went to HSBC for help. The woman there was nice and helpful - as I said previously.
He has tried to talk to this woman (or it may have been an email conversation) but he is getting nowhere with her. She is very threatening.

Gaz83

Your 'friend' was stupid to reduce payments without speaking to the bank first of all.

If what you're saying is true, then he's only short by £600. Get him to phone Lloyds, apologise for his mistake (be humble, rather than proud) and offer to make up the shortfall (for example an extra £50 per month over the next year) and they'll *probably* be absolutely fine with that.

meer53

blue_bee wrote: »

JimmyTheWig is right, they went to HSBC for help. The woman there was nice and helpful - as I said previously.
He has tried to talk to this woman (or it may have been an email conversation) but he is getting nowhere with her. She is very threatening.

How do you know she is threatening ? You don't seem to know whether he's actually spoken to her ?

He has to get somewhere with her, she is paid by the bank to get back money that is owed, it's her job.

HSBC may be nice to deal with, but they don't owe HSBC £14k do they ? HSBC may not be quite so pleasant if they did, and i'll bet there is no way that HSBC will be loaning them the £14k either.

You have to get them to see that they have to get over not wanting to speak to Lloyds, there is no other option for them.

ladeeda

They are a couple in their seventies with a secured loan costing £450 a month? Presumably then they also have a first mortgage too? And their finances are too tight to see a solicitor? Sounds messy.

Firstly no possession order will be granted for a £600 shortfall in payments. I appreciate that they do not want to speak to CAB for whatever reason but they do need advice.
Debt charity number freephone from mobiles too. Get them to make the call. 0800 138 1111 http://www.stepchange.org/Howwecanhelpyou/Debtadvice/Governmentdebtadvice.aspx

PeacefulWaters

blue_bee wrote: »

He has tried to talk to this woman (or it may have been an email conversation) but he is getting nowhere with her. She is very threatening.

You don't appear to know the truth. You've reached a conclusion when you don't even know if a verbal conversation has happened.

Email for secured loan arrears? If this is the case stop now. Pick up the phone. Nothing less will do.

If she's threatening, talk to her supervisor.

I doubt this needs any debt charity to help out. There are £600 of arrears that need clearing. I bet £151, bringing the arrears below one month, would get them off the case anyway.

longtermplanner

It doesn't sound as though we have the full picture here. They are in their 70s? Is he still working? If not, then why does having had a car accident make any difference?

If he was working but now has to stop it would seem unlikely that the good old days will return, so the question is can he afford his outgoings?

Do they have unsecured debt as well? If so they need to stop paying that and pay off the secured debt.

ladeeda

PeacefulWaters wrote: »

You don't appear to know the truth. You've reached a conclusion when you don't even know if a verbal conversation has happened.

Email for secured loan arrears? If this is the case stop now. Pick up the phone. Nothing less will do.

If she's threatening, talk to her supervisor.

I doubt this needs any debt charity to help out. There are £600 of arrears that need clearing. I bet £151, bringing the arrears below one month, would get them off the case anyway.

This couple haven't phoned the secured lender despite receiving a letter threatening the start of possession proceedings. For whatever reason they have a block, a fear of making the call. Talking to and having the back up of some one, named as a debt professional should be enough to boost their confidence sufficiently to make the call. The advice from the charity will be that they offer to over pay for an agreed period to clear the arrears balance & any charges. We know that. The debt can be easily sorted - the couple need help.

Thrugelmir

blue_bee wrote: »

She is very threatening.

It will be her job to recover debt. Borrowers who think that they can vary their terms and pay what they want when they want will receive short shrift. Your friend needs to come up with a proposal to repay the money. In order to be taken seriously.