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    • maggie63
    • By maggie63 15th Jan 20, 7:16 PM
    • 6Posts
    • 1Thanks
    maggie63
    Unknown term on my loan account
    • #1
    • 15th Jan 20, 7:16 PM
    Unknown term on my loan account 15th Jan 20 at 7:16 PM
    Please can anyone tell me what ďc.off entry TNFĒ on my loan statement means? Iíve been in special measures with TSB due to having cancer and unable to meet my loan repayments.

    Basically, repayments were suspended until I returned to work and could afford the repayments. Suddenly, my loan balance is 0, and the above is what the transaction says. Iíve had no communication from TSB regarding this, and itís dated 27th November.

    Thanks in advance. If I havenít given enough info please ask.

    Mags
Page 1
    • camelot1971
    • By camelot1971 15th Jan 20, 7:23 PM
    • 1,132 Posts
    • 1,769 Thanks
    camelot1971
    • #2
    • 15th Jan 20, 7:23 PM
    • #2
    • 15th Jan 20, 7:23 PM
    I think your first place to ask would be TSB direct, as they are in the best place to know the answer. I imagine they are open tonight if you give them a call.
    • zx81
    • By zx81 15th Jan 20, 7:24 PM
    • 24,826 Posts
    • 27,720 Thanks
    zx81
    • #3
    • 15th Jan 20, 7:24 PM
    • #3
    • 15th Jan 20, 7:24 PM
    From what you describe, it looks like a charge off.

    But you need to talk to them to confirm if it's been written off, or sold on.
    • sourcrates
    • By sourcrates 15th Jan 20, 9:20 PM
    • 19,125 Posts
    • 18,050 Thanks
    sourcrates
    • #4
    • 15th Jan 20, 9:20 PM
    • #4
    • 15th Jan 20, 9:20 PM
    The most likely scenario is they have sold the account to a debt purchasing company, banks don’t bother managing delinquent credit accounts for very long, they normally cut their losses and sell on the debt.

    They may have written the debt off, it’s a possibility, either way, they should write to you in the near future and inform you.

    Calling them now may get you an incorrect answer, the call handler won’t know if it’s been sold or written off, as it will just show a zero balance on their systems, with no other explanation.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
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    • maggie63
    • By maggie63 15th Jan 20, 10:35 PM
    • 6 Posts
    • 1 Thanks
    maggie63
    • #5
    • 15th Jan 20, 10:35 PM
    • #5
    • 15th Jan 20, 10:35 PM
    The most likely scenario is they have sold the account to a debt purchasing company, banks don’t bother managing delinquent credit accounts for very long, they normally cut their losses and sell on the debt.

    They may have written the debt off, it’s a possibility, either way, they should write to you in the near future and inform you.

    Calling them now may get you an incorrect answer, the call handler won’t know if it’s been sold or written off, as it will just show a zero balance on their systems, with no other explanation.
    Originally posted by sourcrates
    Thanks. But surely they would have to inform me in writing if they sold the debt on? I had an arrangement to resume payments when I started earning again. I haven’t had any communication from TSB since last September. Do you know what the TNF stands for?
    • boo_star
    • By boo_star 16th Jan 20, 12:43 AM
    • 3,014 Posts
    • 2,361 Thanks
    boo_star
    • #6
    • 16th Jan 20, 12:43 AM
    • #6
    • 16th Jan 20, 12:43 AM
    Thanks. But surely they would have to inform me in writing if they sold the debt on? I had an arrangement to resume payments when I started earning again. I havenít had any communication from TSB since last September. Do you know what the TNF stands for?
    Originally posted by maggie63
    Whoever bought the debt will likely tell you of that in due order.
    Give it a month or three.
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