Lloyds TSB

[Deleted User]

redpete wrote: »

Are you sure he will get the £2800 rather than them taking it off the money he owes?

If Lloyds have sold the debt to Moorcroft (as opposed to merely employing Moorcroft to recover it for them), then he doesn't owe any money to Lloyds.

steve811

Bedsit_Bob wrote: »

If Lloyds have sold the debt to Moorcroft (as opposed to merely employing Moorcroft to recover it for them), then he doesn't owe any money to Lloyds.

The debt has not been sold. He rang the PPI helpline to day and they confirmed they are sending him a cheque for £2800. I guess they are separate departments and don't talk.

sourcrates

steve811 wrote: »

The debt has not been sold. He rang the PPI helpline to day and they confirmed they are sending him a cheque for £2800. I guess they are separate departments and don't talk.

That's correct, two separate issues here !!

steve811

Well he received the cheque and wrote to Lloyds/TSB offering £2000. Today he got a letter from Moorcroft rejecting the offer but asking for a financial breakdown (they have sent a form for him to fill in) and saying they can advise there client once they have those details. It sounds to me as though they might settle if he proves he has no real funds, but he is a very private person and does not want to disclose the details he would have reveal, such as his income and savings. What would others advise?

sourcrates

steve811 wrote: »

Well he received the cheque and wrote to Lloyds/TSB offering £2000. Today he got a letter from Moorcroft rejecting the offer but asking for a financial breakdown (they have sent a form for him to fill in) and saying they can advise there client once they have those details. It sounds to me as though they might settle if he proves he has no real funds, but he is a very private person and does not want to disclose the details he would have reveal, such as his income and savings. What would others advise?

He doesn't have to disclose anything to them, all he need do is say he has x amount of money from a PPI claim, and he wants to settle his indebtedness to them once and for all, his income is illelivant as he can't afford to pay anymore on a monthly basis.

This is a one time "take it or leave it" offer.

If they still refuse, ignore the debt until it gets sold on, I can almost guarantee the new buyer would settle for a lot less.

steve811

Thanks that was my thoughts. The letter we sent said as much "I have no money other than this, take it or leave it!" Will draft a reply giving them the final offer and 7 days to accept.