Bank threatening to appoint L.P.A. receivers.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

Sorry, can you clarify the nature of this bank account?

Re payment off loan account.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

Loan account - see posts #31,89,100.

Thanks thought I was on another planet.

[MrsD]

Re: Bank threatening to appoint L.P.A. receivers.

so is it a current account that they take the money out of by direct debit?

[fluffystuff]

Re: Bank threatening to appoint L.P.A. receivers.

so is it a current account that they take the money out of by direct debit?

No MrsD, I believe the loan is with the bank, payments against it come from a building society account elsewhere. is that correct Streetwise?

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

No MrsD, I believe the loan is with the bank, payments against it come from a building society account elsewhere. is that correct Streetwise?

Yes,Mrs D see post 90.

[Still Waving]

Re: Bank threatening to appoint L.P.A. receivers.

Re payment off loan account.

Thanks. Just wanted to be certain, as I still can't see how they can just take your deceased other half's estate off the account when there is still a securitised asset against the loan, ie the house you are living in.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

Thanks. Just wanted to be certain, as I still can't see how they can just take your deceased other half's estate off the account when there is still a securitised asset against the loan, ie the house you are living in.

Me too,thanks.They Haven't taken it of its still a security against the loan.That is what its about how to stop L.P.A. receivers.

[Still Waving]

Re: Bank threatening to appoint L.P.A. receivers.

But you said at post 90

"The Bank closed the account.The mortgage account, so as we could only pay into it.Banking facility withdrawn ."

So it appears it wasn't just a loan repayment account, it was more than that.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

But you said at post 90

"The Bank closed the account.The mortgage account, so as we could only pay into it.Banking facility withdrawn ."

So it appears it wasn't just a loan repayment account, it was more than that.

The account was only ever used to pay the debt,the bank offered credit cards and overdrafts on the account, but they didn't want them only wanted to pay the debt off.

They the bank only closed the account in August 2012 my late partner died in October 2010.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

taking your partner's name off the agreement which apparently they don't have?

Not APPARENTLY,they aint got it.

[fluffystuff]

Re: Bank threatening to appoint L.P.A. receivers.

The account was only ever used to pay the debt,the bank offered credit cards and overdrafts on the account, ..........

Forgive me but that's a rather confusing statement. An overdraft facility would not be offered against a loan account. Was there a current account at some point as well?

[Still Waving]

Re: Bank threatening to appoint L.P.A. receivers.

The account was only ever used to pay the debt,the bank offered credit cards and overdrafts on the account, but they didn't want them only wanted to pay the debt off.

They only closed the account in August 2012 my late partner died in October 2010.

Hold on - they transferred the account solely into the business partner's name on 1/1/11 (the account for repaying the loan), then closed it in August 2012? How are the loan repayments accounted for since that date then?

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

Forgive me but that's a rather confusing statement. An overdraft facility would not be offered against a loan account. Was there a current account at some point as well?

Yes there were cheque books but never used.I say yes but I don't really know, why would they be giving them cheque books.

[Streetwise]

Re: Bank threatening to appoint L.P.A. receivers.

Hold on - they transferred the account solely into the business partner's name on 1/1/11 (the account for repaying the loan), then closed it in August 2012? How are the loan repayments accounted for since that date then?

My late partner made the payments every quarter I just calculate what the payment would be at 2% over base rate and pay it into the account.

[fluffystuff]

Re: Bank threatening to appoint L.P.A. receivers.

Hold on - they transferred the account solely into the business partner's name on 1/1/11 (the account for repaying the loan) no, this is the loan account, then closed it in August 2012. It has not been closed .How are the loan repayments accounted for since that date then?

Correct Streetwise?