HBOS Preference Account

[TRAVELLER]

New to the forum - Hi everyone!!

Need to know if HBOS (BOS) preference accounts are enforceable. Fought off several DCA's with various template letters - all went very quite until just before Christmas when started getting letters from Lowell. I CCA'd them and they returned a copy of split "agreement" - this goes way way back to 1996 when we took out a loan (one where the guy comes around to your house with the cheque) and also the "agreement" covers the Preference Account. Same copy as previously received in response to CCA request(s) from previous DCA's

We hit hard times and couldn't pay but then on a similar forum to this one found template letters for CCA request etc. However in late 2008 after a long period of time they sent default notice not giving enough days service but in SAME post received also a termination notice!! kept the envelopes.

Lowell now say account is on hold for 28 days after I wrote to them regarding account being in dispute etc - should ever have been passed on etc.

Any thoughts? thank you

[ScabHunter]

Re: HBOS Preference Account

Any thoughts? thank you

When was the last time anything was paid on this account, or a written acknowledgement made?

SH

[Fred Bassett]

Re: HBOS Preference Account

I got rid of this problem by asking HBOS what act it is regulated by then persisting with it. I'm guessing that you had a car loan or some such and this came with it. If you look at your split agreement, you will probably find that the section that refers to it being a 'Credit agreement regulated by the Consumer Credit Act' etc. only refers to the loan agreement.

The other side, the Preference side will not say this, but if it's a credit card it should do.

I know of at least one case, not on this board, where HBOS took somebody to court then bottled it.

They got in one hell of a muddle over these and couldn't decide if they were bank accounts or credit cards. The clue will be in your credit file - almost certainly it will be listed as a credit/store card, even though, in some ways it acted like a bank account.

Hope this helps.

Regards.

Fred

[ScabHunter]

Re: HBOS Preference Account

Hope this helps.

It certainly does. Thanks, Fred.

I still think the first thing here is to establish exactly when the statute barring date is. You can't work it out from the post, but it is likely to be relatively close. It may even be SB already, and Clownell are certainly known for buying SB alleged debts.

Whenever that date is, it should be possible to work out a strategy which will enable the OP to reach it.

SH

[Never-In-Doubt]

Re: HBOS Preference Account

If the courier came with the cheque which instantly makes this UE as that courier is not an IFA nor is he employed to offer financial advice and the fact remains they literally call at your door, then they open the letter and ask you to sign - they are then meant to hand you the agreement and go.

That does not comply with legislation and that would mean that the 'loan' would never actually be enforceable. The courier, 99% of the time never left anything, they would ask you to sign and then take the paperwork away and HBOS would allegedly send you a copy - yea, like that happened. However,

-------------------------------

Need to know if HBOS (BOS) preference accounts are enforceable. Fought off several DCA's with various template letters - all went very quite until just before Christmas when started getting letters from Lowell. I CCA'd them and they returned a copy of split "agreement" - this goes way way back to 1996 when we took out a loan (one where the guy comes around to your house with the cheque) and also the "agreement" covers the Preference Account. Same copy as previously received in response to CCA request(s) from previous DCA's

Just to query this, a Preference Account specifically from HBOS (or BOS) was a bank account, or finance that went into the preference account and came with a debit card. Think of it as an extended overdraft on a bank account (with rates as high as 25% IIRC). Thus, you would not get a normal loan via this route.

What I mean, quite simply is, if this was a preference account then no courier would have called because you opened finance with a car or shop dealer or opened a bank account with extended lending. If the courier called then this was a personal loan and not a preference account as a courier only calls with respect to personal loans and not bank accounts and/or store finance.

Which was it?

-------------------------------

Based on the level of points and complexity of the issue here I do not believe this post is genuine. There are too many complex factors designed to trip people up that reply, however trying it on AAD with the UE experts all here under one roof is rather daft.

If I am wrong I apologise but for an almost SB debt with an old HBOS pref account on a split term that invokes s.18 and misselling of regulated products along with the HBOS courier issue leads me to think it's a troll post.

[Fred Bassett]

Re: HBOS Preference Account

It certainly does. Thanks, Fred.

I still think the first thing here is to establish exactly when the statute barring date is. You can't work it out from the post, but it is likely to be relatively close. It may even be SB already, and Clownell are certainly known for buying SB alleged debts.

Whenever that date is, it should be possible to work out a strategy which will enable the OP to reach it.

SH

You're quite right of course SH.

I think HBOS will throw in the towel quite easily when pushed - not sure if Lowells own this or are acting for HBOS.

Mine should not be stat barred for about another 10 months, but there's been no activity on it for yonks and it's fallen off my credit file. That might be a simple mistake but I think they have quietly buried the ones where people have challenged them.

Regards.

Fred

[Fred Bassett]

Re: HBOS Preference Account

Niddy, I see your point now.

Cheers.

Fred

[TRAVELLER]

Re: HBOS Preference Account

hello - My post is genuine and what I have posted is correct - I am new to THIS forum but previously used another forum. Should be statute barred in about 16 months time I think. Don't know what else I can do to alleviate the doubts raised on this thread?

[Never-In-Doubt]

Re: HBOS Preference Account

hello - My post is genuine and what I have posted is correct - I am new to THIS forum but previously used another forum. Should be statute barred in about 16 months time I think. Don't know what else I can do to alleviate the doubts raised on this thread?

It's fine, what you said in your message suits me fine

Can you clarify, step by step, what you recall of this and was it definitely sent via courier and do you have any proof of this, ie from a SAR?

Thanks

[TRAVELLER]

Re: HBOS Preference Account

thank you - It's way back and we have reams of paperwork. Started as a loan application via (I think) a catalogue company. A representative brought the cheque to the house and the agreement for us to sign, The agreement is split vertically on the back - left hand for the loan , right hand for the Preference Account. Left hand side says "Credit Agreement Regulated..." Right Hand Side doesn't.
Loan paid off but Preference Account still owe on it.
When we had problems paying around mid 2008 they asked us if anyone could lend us any money, or if anyone had any bonds etc to cash in!! to help us out. I made an offer to pay so much a month but they refused it. After that I CCA'd them (can send copy if needed) then it went to several different DCA's culminating in a default notice AND termination being received in same post (kept the envelopes) Default notice didn't give fourteen days after service. All went very quite until just before christmas when Lowell started writing to us demanding payment. I have written to them with some of the fscts (not all) and now account is on hold for 28 days. I CCA'd Lowell and they sent same copy of split agreement. Can check more carefully tomorrow when I get aperwok out again

[TRAVELLER]

Re: HBOS Preference Account

Just checked on copy paperwork sent by Lowell in response to CCA request - which is illegible in parts by the way. I think I need to upload this and send to Niddy (need help with this as usually use photobucket)

Left hand side - Personal Loan (Credit Agreement Regulated....) signed for and on behalf of NWS Trust Ltd - this would have been done in my home I think by the Guy who delivered the cheque. Also signed by my husband

Right Hand side - Preference Account - signed for and on behalf of NWS Bank PLC - their signature is a completely different signature from the left hand side which I think must have been signed at a later date as there wasn't two delivery guys. This Right hand side isn'd dated either. Also signed by my husband.

In the background of the document is a large NWS logo.

Can anyone help with sending this in for checking please

many thanks

[TRAVELLER]

Re: HBOS Preference Account

am going to send agreement to NIDDY for checking - just been a bit busy - my dad and mum are both not well at the moment so will try to get it done this weekend. Been through an old file of paperwork that I keep house stuff in - can't believe what I found !! It is a "Customer Guide" sheet for the original loan. Will load up with agreement asap.

At top it says "Thank you for applying for a personal loan with us .....follow instructions below..... , once the courier has checked that you have completed your Agreement correctly, you will receive your cheque immediately. Ensure that you take your time to run through the instructions, the courier has been advised to wait outside for 15 minutes until you are ready."

Then there 3 steps to follow 1 - customer details, 2 Loan agreement and PREFERENCE AGREEMENT as a privileged customer , an agreement has also been included. Simply sign the agreement where marked .......3 Direct Debit ....
the courier will now hand you a large envelope for your credit agreement. place your completed Agreement in this envelope with the signatures showing through the windows provided. By sealing the envelope this ensures your confidentiality and allows the courier to check that you have signed in the correct place(s). Once checked the courier will pass your loan cheque together with one copy of the agreement.
PLACE THIS GUIDE OVER YOUR FORM TO TELL YOU AT A GLANCE WHERE TO SIGN - there are two slots cut out of the guide to show where to sign the agreement placed under it. one for loan and one for |Preference account. There is a box on the form saying "Do not ask the courier for advice"

[Never-In-Doubt]

Re: HBOS Preference Account

Ok if you can scan it and instead of uploading to photobucket, create a new email and attach the document that way

webmaster@all-about-debt.co.uk

Let's see what shyte hbos have sent eh?

[TRAVELLER]

Re: HBOS Preference Account

cheers will do it definitely this weekend. got a lot on my plate at the minute hence being a bit slow! .

thanks for the info

[TRAVELLER]

Re: HBOS Preference Account

all documents sent now - thanks