Loan written off by LLoyds

carlan

Hi All

Further to earlier Post .....I had a call from Lloyds Bank Customer Services at about 7pm and they apologised etc for all the hassle..
They will liaise with my Branch as to the position.


I have just gone on to my online Accounts and all of a sudden the Pension Loan Account balance is marked "N/A" and there is note to say that up to date information is not available !!


Watch this space.....


Carlan

jamesd

Well, N/A may be progress in the direction of them confirming that you can forget about repaying this. Good to read that Lloyds Customer Services are trying to relieve you from the need to do the chasing.

carlan

Quick update


The Pension Loans Account is now once again showing on the On-line info,so heading off to the Branch to see if they have anything to report

Lloyds_Bank

carlan wrote: »

Quick update


The Pension Loans Account is now once again showing on the On-line info,so heading off to the Branch to see if they have anything to report

Hi again Carlan,

Please let me know if you don't receive a resolution to this. With regard to the balance being shown as 'N/A' last night, that can happen with accounts & products during the night when we're running maintenance on Internet Banking, so won't be related to this issue.

Thanks,

Craig

Lloyds_Bank

phbatbjco wrote: »

Thanks again for all your responses and in particular the one from the Lloyds rep.

At least I seem to have found someone in the same position (Carlan), but it doesn't seem as if he's been able to get much info out of Lloyds, nor it seems unequivocal confirmation that his letter is genuine.

Incidentally, I have another loan from Lloyds taken out on exactly the same basis a few years later in the 1990s, but I've not had a letter on that one.

Odd isn't it?

Seems a bit "random" to me, to coin my kids phrases!

Also I'm asking the question why are they doing this? As a shareholder in lloyds as well I'm a bit unimpressed they are needlessly writing off loans - perhaps I am too principled!!

Hi again phbatbjco,

This is a commercial decision impacting a very small number of historic loans. If you do have any queries in relation to this, please write to the address on the letter. The specialist team dealing with these loans will then get back to you.

Thanks,

Craig

Gaz83

Lloyds_Bank wrote: »

Hi again phbatbjco,

This is a commercial decision impacting a very small number of historic loans. If you do have any queries in relation to this, please write to the address on the letter. The specialist team dealing with these loans will then get back to you.

Thanks,

Craig

Wouldn't it have been easier to include an explanation of why the loan is being written off in the original letter? Seems you're making an awful lot of work for yourselves.

redpete

Gaz83 wrote: »

Wouldn't it have been easier to include an explanation of why the loan is being written off in the original letter? Seems you're making an awful lot of work for yourselves.

Maybe they think there is something wrong with the way the loans were set up or managed; explaining what this is might open them to claims for refunds of interest paid or worse. Offering to write off the loan might avoid borrowers asking awkward and potentially expensive questions.

Gaz83

redpete wrote: »

Maybe they think there is something wrong with the way the loans were set up or managed; explaining what this is might open them to claims for refunds of interest paid or worse. Offering to write off the loan might avoid borrowers asking awkward and potentially expensive questions.

If this is the case, then I wouldn't expect to see a Lloyds Representative on here posting inviting people to write to someone to find out why their loan's been cancelled.

ladeeda

redpete wrote: »

Maybe they think there is something wrong with the way the loans were set up or managed; explaining what this is might open them to claims for refunds of interest paid or worse. Offering to write off the loan might avoid borrowers asking awkward and potentially expensive questions.

I would be thinking along these lines also. http://http://www.financial-ombudsman.org.uk/publications/ombudsman-news/56/56-calculating-redress.htm

jonesMUFCforever

I don't know why the Lloyds representative bothers to post - its stock answer is always to ring up to get things sorted.