Lloyds TSB and debt of doom

al2u72

Bit of a long story but here it goes. I had to leave my job working in
a school after several years after having my wage cut by £5k and having been given the promise of a £25k pa contract by someone I had worked with at the school, it seemed I was moving forward. All went well initially but quickly the monthly income dropped and things started getting very tight. I was self-employed and really unable to get enough work in from other sources quick enough to plug the gap of the promised contractual work. Things were looking financially bad - I was trying so hard not to get into big time debt and more importantly not run up loads of charges and interest which would break me. I wrote to Lloyds TSB (as the charges started racking up) to ask to meet to discuss extortionate charges and how to work through this short spell of financial hardship and they duly invited me in for a meeting for the next day.

I arrived at the bank and was quickly ushered into a room with a man and woman. Can't remember their names now but I have the letter somewhere! She said, I'm sorry for the rush to get you in but we want to sell you a loan today as if you don't take it today, you're credit reference will move over to a new month with us and you'll not be able to borrow any money at all as you'll drop from you're perfect credit score with us. She then proceeded to go through everything and sell and sign me up to a £15k loan that I really didn't want but had to take as I had around £5k on a Lloyds Credit card that they would instantly transfer which 'would stop any potential action being taken'.

Odd thing is, they took my then partner's pay who had no bank account, was paid in cash and was on an 8 hour contract into account, She was a waitress at the time too and her income was nowhere near enough to cover the loan repayments. I had projected figures for income but my letter was honest and stated 'we have no money and want the charges stopped' not, I want a loan!

My partner is now my wife and she now has a bank account - first time for over 10 years!

I really wanted to cancel in the cooling off period but with around £5 already knocked off that I knew I couldn't repay, I just sat tight and have weathered the storm ever since.

We since declared hardship which was ignored - about 4 months after the loan was accepted but this had no effect.

They shortly will be taking court action - I need to rectify the wrong doings - on both sides - but how do I present my case? And even, where do I start?

happy_bunny_2

You could complain about miselling the loan, in writing. Depends if at that point you had a job to be able to pay it back.

So art from that, if they get to court, explain this to the judge.

What year did thus happen? Have you paid anything back on the loan?