CheltGlos now Lloyds TSB !

Bluediamond

We are on a DMP and were horrified to receive a letter today from Cheltenham and Gloucester to say that from October 1st it will then be known as Lloyds TSB. We have them as our dreditors on our DMP..will they demand that we transfer the debt to our mortgage ?:eek:

Anyone else in my boat or anyone else got any advice please?

Been away from the Forum for ages but glad to be back now and keeping up with all the problems.

livinginhope

We got this letter today and are now a little concerned about what the future holds our biggest creditor is Lloyds TSB with £76k owing to them.Whilst trying to read through all the small print,it mentions an 'all monies clause' saying about any debts with Lloyds can now be linked with the mortgage,but I don't understand what it means?
Does anyone have any knowledge of what could happen (worst case scenario) when our mortgage lender becomes Lloyds?
LIH

craftingqueen_2

I'm in the same boat Lloyds are our major creditors.Will they add the debt to our mortgage or will they force us to sell? the mind boggles to whats gonna happen next.

cq

bowz25

hi all
i am with cheltenham atm as well and lloyds is one of our main creditors.

I had a review call today from cccs and mentioned this but i think lloyds have always owned c&g mortgages just under the c&g name instead. I think the mortgage is being dealt with by same office etc just letters that come out will say lloyds on them? The lady from cccs said mortage is secured and it is different to debts on dmp which are unsecured.
If they did ask you to add to the mortgage it would not benefit them much as you would have loads to pay off still, at least on dmp they are getting the money back and not risk people missing mortgage payments.
Not sure if they could do a charging order though but that affects you only when you sell property i think.
Anyway hopefully knowing lloyds being such a large organisation,the left hand and right hand might not know what is happening and that you are even on a dmp, if your mortgage is paid regularly every month.
Hope someone else has some answers to this as it has been worrying me a little too as i am on fixed rate until april next year, and would like to change this again.

take care all
bye for now.