Some things do work out well, not often, but sometimes

[Robesco]

I have (had) a 15 year old Lloyds overdraft, it's never been sold so still with Lloyds and I have been repaying through DMP for 10+ years. I wanted to SAR them as part of my info gathering exercise on all my debts.

I completed a SAR on the Lloyds webpage. While there I noticed a PPI form. Now I am absolutely categorically positive I have never had PPI but what harm can it do to fill in the form?

The day after my SAR request, Lloyds sell the debt. At the time it made me really angry. What have they got to hide, why now etc?

A month passed and it turns out I did have PPI on a loan nearly 30 years ago and I'm owed about £2k.

If Lloyds still had the OD, the PPI payment would be automatically put towards the debt. However since they sold the debt the day after the SAR I have just received a £2k cheque which I can now use to offer a reduced F&F, hopefully pay off the OD and have some left for Christmas.

So thanks for selling the account Lloyds. I still have no idea why after all this time but your timing could not have been better.

[Joanna Connolly Solicitors]

they sold the debt the day after the SAR I have just received a £2k cheque which I can now use to offer a reduced F&F, hopefully pay off the OD and have some left for Christmas.

Who is the debt purchaser who's been assigned this Lloyd's debt?

Before you make a Full & Final settlement offer to them you sholud perhaps establish your legal position?

Di

[Robesco]

Who is the debt purchaser who's been assigned this Lloyd's debt?

Before you make a Full & Final settlement offer to them you sholud perhaps establish your legal position?

Di

Hi, I wont make an offer just yet, you are right regarding checking the legal position. I have spent all of tonight reading all 20 pages of posts in the UE for overdrafts section and have to say I am now more confused than ever whether an OD can be UE or not. Lots of advice on letter templates in there but I couldn't find anything that actually determined if those that used them were successful or not. There was a lot confusion (for me at least) on if the OD was approved / not approved or approved and over limit as a result of spending or as a result of charges. Truthfully, even with the data I got back from the SAR, I don't know if I could answer that after 15 years, probably a mix of both.

I did find this post from Jo that says an OD UE claim has been successful but it doesn't say which templates to use and what to do if the DCA reply with an OD is not covered by the CCA request. Refer back to Niddys OD letters 1 and 2?
https://all-about-debt.co.uk/forum/d...eal-overdrafts

This is the only debt I have not CCA'd as I was (maybe wrongly) under the impression OD were not covered. It's also my smallest debt so the one I was least worried about so I put it to the back of the pile.

I need to do a single post debt diary for all the debts and include the history of this Lloyds OD and take advice from there. Until now I have only posted about the ones that are giving me grief (Link and Idem) and I still have so many questions about the situation with Link that I have not even asked yet.

[Robesco]

p.s. Do you guys ever sleep?

[Joanna Connolly Solicitors]

p.s. Do you guys ever sleep?

Nope

Di

[Joanna Connolly Solicitors]

I am now more confused than ever whether an OD can be UE or not. . . . I did find this post from Jo that says an OD UE claim has been successful but it doesn't say which templates to use and what to do if the DCA reply with an OD is not covered by the CCA request.

This is the only debt I have not CCA'd as I was (maybe wrongly) under the impression OD were not covered.

Law evolves. Cases which are won or lost can change things on a daily basis.

A s78 CCA Request to Lloyds might be your next step but timing is everything, so a bit more information about this debt would be helpful before you decide what you should do.

As Jo says, overdrafts are covered by the Consumer Credit Act >

The claim against our clients in this case was for monies owing under a personal Current Account Overdraft. We lost at first instance before a District Judge in Peterborough County Court and appealed the decision before HHJ Walden-Smith sitting at Cambridge County Court.

The Appeal was successful yesterday. This is an important case because it confirms that consumers using the unenforceability provisions of the Consumer Credit Act 1974 can successfully defend claims for personal Current Account Overdrafts in court. In this instant case the Appeal court found the personal Current Account Overdraft agreement to be unenforceable pursuant to the Consumer Credit Act because of lack of evidence of compliance with the requirements of the OFT determination.

It was also accepted that Creditors must comply with S 78 Consumer Credit Act 1974 requests relating to personal Current Account Overdrafts, not just credit cards and loans. In this case the Appeal court did find that MFS Portfolio Ltd had complied with the S 78 Consumer Credit Act request. If they hadn’t complied with the statutory request then the personal Current Account Overdraft would have been unenforceable pursuant to s.78 (6) (a) Consumer Credit Act , which is contrary to the position creditors normally take..

Di