Posted: Mon Nov 12, 2007 5:45 pm
Evening everyone
I just had a letter from one of my creditors with the standard if you don't pay we'll do this message, but one of the sentences has given me a bit of a fright. Bear with me on this, cos in my head it was all confusing, so hopefully typed it will make more sense.
So, the sentence was "As you are aware, the Terms and Conditions relating to your Platinum Agreement authorise us to transfer balances held in any current or savings accounts you hold with us or Lloyds TSB Scotland to pay off overdue sums on your Platinum account. Therefore, unless we receive your payment or agree a repayment schedule we will enforce this particular clause of the Agreement"
Fair enough, I thought. But then I panicked. For 2 reasons.
1. I used to have 2 joint accounts with my husband, a gold account and a savings account. Before I defaulted on any of my payments we had me removed from both of these accounts. They are now in my husbands sole name. So the question here is, can they take money from my husbands account(s).
2. As requested by them, I have not used my current account since all this started. There is a Zero balance. However, I have just checked and the overdraft limit is still £500.00. Can they take the money from the overdraft (in effect paying themselves). If so, then it will be going against their very direct and specific instructions that I am not to get into any further debt with them.
Confused? I am.
Johnz
I just had a letter from one of my creditors with the standard if you don't pay we'll do this message, but one of the sentences has given me a bit of a fright. Bear with me on this, cos in my head it was all confusing, so hopefully typed it will make more sense.
So, the sentence was "As you are aware, the Terms and Conditions relating to your Platinum Agreement authorise us to transfer balances held in any current or savings accounts you hold with us or Lloyds TSB Scotland to pay off overdue sums on your Platinum account. Therefore, unless we receive your payment or agree a repayment schedule we will enforce this particular clause of the Agreement"
Fair enough, I thought. But then I panicked. For 2 reasons.
1. I used to have 2 joint accounts with my husband, a gold account and a savings account. Before I defaulted on any of my payments we had me removed from both of these accounts. They are now in my husbands sole name. So the question here is, can they take money from my husbands account(s).
2. As requested by them, I have not used my current account since all this started. There is a Zero balance. However, I have just checked and the overdraft limit is still £500.00. Can they take the money from the overdraft (in effect paying themselves). If so, then it will be going against their very direct and specific instructions that I am not to get into any further debt with them.
Confused? I am.
Johnz