I received a check this morning

[Spent2much]

The check is from Lloyds bank and it says - we're making a payment to you .
Before we moved the balance on your personal current account to Lowell, we added some interest and charges when we shoudn't have, I'm sorry this happened and I'm refunding this amount .

As the account is now closed, I've enclosed a cheque for £120.49 , which includes an 8% compensatory interest payment on your refund. YOu can see the breakdown of how we worked out this payment on the back of this letter, as well as some information about tax . The cheque is valid for six months .

Our debts are nearly statute barred - will this affect this account that is now with Lowell even though the Lloyds banks has said this account is now closed ?

thanks s2m

[Roger]

Well its an Admission from Lloyds that their figures and charges etc were wrong!
Well it means that the Assignment figure was wrong doesn't it! It means that presumably the Default Notice figures were wrong! It means that the reported Credit Report was wrong!

It also begs the question as to whether the Current Owner (Lowell) is responsible under the Act or Lloyds in other words Assignment issues.

You have the evidence that Lowell's figures are wrong (as admitted by Lloyds!!)

Stay Silent! Don't acknowledge Lloyds, or thank Lloyds Just bank the cheque!
in a sense its NOT your headache is it?
Other may have other opinions

[Roger]

Incidently I have at least three letters/cases where the Original Creditor has undermined their Debt Claims especially over the value of outstanding Debt (key element in Default Notices and Assignments).

One nameless Bank mistakenly sent me a Letter of Interest Refund that contradicts the figures of the later Default Notice and assigned value to DCA.
That letter addressed and posted to me by the Bank looks to my untrained eye as if it pertains to somebody else's Account!
But the Law presumes that the Banks Accounting is beyond doubt doesn't it! So what would happen if the Court had evidence of Banks misaccounting?

We can sadly mistakenly admit to debts in letters perhaps unintentionally. But the Letters we receive from DCA's Original Creditors can themselves undermine Debt Claims!!
Always worth looking and checking and making notes (for your own purposes) , comes down to good filing.

[Spent2much]

shall I bank it then ?

[Roger]

shall I bank it then ?

I can't think of any reason why not! Can you?

Its an admission that the Original Debt was wrongly stated, the figures were wrong!!

Its a closed Account so why haven't Lloyds sent it on to Lowell if these are the Current Owner?

Do you not see it raises a whole series of questions over Owner, Current Owner etc.. It also raises questions over the Terms & Conditions of any Agreement (deemed to have been broken by you!)
Now the relationship between Lowell and Lloyds is nothing to do with you! The Assignment(Contract) is between Lowell and Lloyds. Have Lloyds written to Lowell and how would you know this?

Look at Lowell's position they are claiming on a balance brought from Lloyds AND in theory have taken over the Original Agreement making Lowell the Current Owner. But it seems this is not the Case as far as Lloyds are concerned since they have sent you this Refund!

I see a hornets nest and wouldn't be poking this!! If it was me I would bank it and say nothing just keep details of all of this on file. I wouldn't be rocking any boats with Lloyds and certainly NOT with Lowell especially when you at close to the Bar!!
In this Case Ignorance and Silence is the way to go.

[Spent2much]

in the bank tomorrow then - and i'll file this letter . cheers

[Spent2much]

I hope my hubby receives some compensation too as he was at the same bank I'll check if it got sold on to Lowell- happy days

[Spent2much]

Just had a look and hubby's account was also sold to Lowell - wonder if he will receive a cheque also .

[Roger]

Don't be tempted to poke the hornets nest here.

If Lloyds send a cheque they won't be surprised if its paid! Cheque paid! tick job done FILE closed.
But if it isn't paid then it stays on someone's check list doesn't it and the FILE remains open!

So we want this filed away and forgotten! That's the plan.
If hubby is sent a refund apply the same thinking!

[Still Waving]

Just had a look and hubby's account was also sold to Lowell - wonder if he will receive a cheque also .

I don't want to dampen your expectations, but it seems to me that the pertinent point is not that the account was sold to Lowell, but that interest and charges were erroneously added. It doesn't necessarily follow that this also applies to the other account.

[Spent2much]

I don't want to dampen your expectations, but it seems to me that the pertinent point is not that the account was sold to Lowell, but that interest and charges were erroneously added. It doesn't necessarily follow that this also applies to the other account.

Its okay it was just a thought im happy with the cheque which is now waiting to clear . Thank you

[Spent2much]

It is the same type of account and maybe interest and charges were added the same- I'll wait and see .

[Roger]

It is the same type of account and maybe interest and charges were added the same- I'll wait and see .

Just DON'T poke the hornets NEST!

[Joanna Connolly Solicitors]

I haven’t read the full history of this account but always bear in mind that a debt purchaser may (and I stress ‘may’ depending on the conditions in the Deed of Assignment) have the right to reassign the debt to the original creditor.

When is this debt due to go Statute Barred?

Di

[Spent2much]

I haven’t read the full history of this account but always bear in mind that a debt purchaser may (and I stress ‘may’ depending on the conditions in the Deed of Assignment) have the right to reassign the debt to the original creditor.

When is this debt due to go Statute Barred?

Di

statute barred 22 June 2018