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I received a check this morning

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  • #16
    Originally posted by Spent2much View Post
    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 shouldn'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 ?

    Is the history of this debt on the forum somewhere?

    I'm curious about Lloyds use of the word "moved" your account to Lowells. They don't "move" accounts - they sell/assign the account after they've terminated it (assuming you've posted that letter word for word).

    You think it was assigned to Lowells (did you get the Notice of Assignment?) so how can Lloyds have subsequently closed it when they no longer own it (that's a rhetorical question ).

    Perhaps they recalled it from Lowells when they discovered the error. This may have had an impact on your Statute Barred issue but they also say it's closed so they're unlikely to take action.

    How much is/was the outstanding balance?

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