Lloyds Tsb Loan Help - Urgent Please

bamberbridge

Hi all ...........

I just applied form a personal loan online ,and did the quick sign thingy so it went in my account instantly. I didnt expect it to be accepted so hadnt really looked into it , call it a moment of madness !!

Anyway , i didnt print the agreement out etc and now ive reckoned up and think i want to cancel . No infact im 100% certain i want to cancel it.

Can anyone please help me out and tell me if i can cancel , and will have to pay anything for time wasting etc ? Is there a time limit etc ?

Ive looked all over the site and my account online and cant find any details of what to do and where i stand ?

I`ll check back later for updates

very kind regards

any help would be very greatly received

BB :eek:

jonesMUFCforever

ring 0845 3000 000 and ask for the personal loan centre. They will tell you how to unwind the loan.
If that fails and you applied using internet banking phone the internet helpdesk - the number is on the page when you log in.

bamberbridge

Had a total mare !!! Took my loan out Friday , and rang saturday to cancel , and was told to ring back monday . Was told the type of loan i got cannot be cancelled once taken out . Well according to their site they only have 1 type of loan and that says i have 14 days to cancel.

Rang today and was told its £1077 to cancel , but i dont have the £77 extra so im screwed!!

I already have another loan with lloyds which has around £800 owing so she said i could top that up and then pay off my new loan . Topping it up to £2200 would make my payments £77 a month for 5 years . While she got it authorised and i was put on hold i reckoned it up and id be paying back a total of £4600!!! So after being on hold for 30 mins i hung up. im currently going to have to pay £84 a month on both loans , but 1 will end in 14 months ,then i`ll be down to paying £35 a month for the remaining 4 years ,rather than £77 for a solid 5 years .

They said they sent me a contract out friday with all the loan details on ,but as of yet i havent recieved so im still not 100% sure where i stand with cancelling the loan i took out last friday . I mean £77 added to it for 3 days is quite ridiculous tbh

thoughts or help greatly appreciated

cheers

bb

bamberbridge

Apparently i have 14 days to UNWIND the loan (thats the term apparently), and the money will be taken back with no charge ,and i have to go into a branch to do this .

Can anyone confirm please ?

bamberbridge

Just got this off the loan help page >

[URL="javascript:openPrintWin('single');"]Print[/URL]
You asked us:
cancelling loan

Our answer is:
If you take out a loan with us through Internet banking you have 14 days to cancel the agreement.

This cancellation right will start on the day after you sign your loan agreement or clicked the"Confirm" button on screen. If you do wish to cancel your loan during this time you must repay the total loan amount (this is the amount we paid into your account and can also be found on the Loan Agreement under Key Financial Information).

Please send any cancellation notice to Lloyds TSB Personal Loan Service Centre, P.O. Box 42, Peterlee, SR8 2YQ, enclosing a cheque for the Cash Loan amount payable to Lloyds TSB (a/c Eisis). The loan agreement will continue to apply if you don’t cancel.

If you want to talk to us about canceling your loan more than 14 days after you’ve signed your loan agreement, please call us on 0800 096 1282 or [URL="javascript: bot_nav ( 'http://www.lloydstsb.com/branch_locator/search.asp' , '' , 'opener' );"]visit your local branch[/URL]. Please note that clicking on this link will open a new window in front of this Help Centre.


Doesnt say if you have to pay any charges or interest though does it , and thats important i think

noh

If no charges or interest are mentioned then none are due.

Nigel

bamberbridge

Hope so m8 - cheers

MABLE

bamberbridge wrote: »

Hi all ...........

I just applied form a personal loan online ,and did the quick sign thingy so it went in my account instantly. I didnt expect it to be accepted so hadnt really looked into it , call it a moment of madness !!

Anyway , i didnt print the agreement out etc and now ive reckoned up and think i want to cancel . No infact im 100% certain i want to cancel it.

Can anyone please help me out and tell me if i can cancel , and will have to pay anything for time wasting etc ? Is there a time limit etc ?

Ive looked all over the site and my account online and cant find any details of what to do and where i stand ?

I`ll check back later for updates

very kind regards

any help would be very greatly received

BB :eek:

Think you were an an ego boost trip.

james32_uk

Not that I'm suggesting you do this but surely as youve not signed the agreement Lloyds cannot enforce repayment of this loan.

Can anyone confirm this?

jonesMUFCforever

james23_uk wrote: »

Not that I'm suggesting you do this but surely as youve not signed the agreement Lloyds cannot enforce repayment of this loan.

Can anyone confirm this?

With Internet banking you can 'electronically' sign a CCA.
The relevant act has been amended for this purpose.