Scorpio1960

[Scorpio1960]

About 25 years ago I had a loan for 10,000 with Lombard after so long I had trouble paying debt, it was then sold on to Arden in which I pay them£55 month but it's got to point whether I should carry on paying them I never signed agreement to say I would pay them . A couple of years ago I asked them for loan agreements in which they sent me a blank Lombard form they must have had all there money back , I am wondering if to stop paying them just not sure what to do I have looked and can't find it on a credit record can any body out there give advice thanks alot

[nemesis45]

Re: Scorpio1960

Hello Scopio,
Sorry you have not had a reply until now

Do Arden send you annual statements?
Check if your credit files are being updated, Noddle (Call Credits Free Offshoot)
Just how long have you been paying the £55.00 pcm?

nem

[Scorpio1960]

Re: Scorpio1960

Hi yes get a statement once a year I think , I have looked noddle and there's nothing at all on there . Been paying the £55.0 years must be ten or more thanks

[FlamingParrot]

Re: Scorpio1960

About 25 years ago I had a loan for 10,000 with Lombard after so long I had trouble paying debt, it was then sold on to Arden in which I pay them£55 month but it's got to point whether I should carry on paying them I never signed agreement to say I would pay them . A couple of years ago I asked them for loan agreements in which they sent me a blank Lombard form they must have had all there money back , I am wondering if to stop paying them just not sure what to do I have looked and can't find it on a credit record can any body out there give advice thanks alot

Hi yes get a statement once a year I think , I have looked noddle and there's nothing at all on there . Been paying the £55.0 years must be ten or more thanks

What is the balance on your latest statement? You should really keep an eye on that, £55/month = £660/year, over 10 years it would be £6,600 you've paid. Did they freeze interest?
There was a case on another forum where someone entered into a similar repayment arrangement in 2000, over the phone the creditor agreed to freeze interest. When the OP got a statement in 2012, it said he owed £24k!!! :scared: :scared: :scared: It turns out they've been adding interest all along.
Do check what your balance is and post up here, you may want to consider a reduced F&F settlement with then for a fraction of the outstanding balance.

[FlamingParrot]

Re: Scorpio1960

About 25 years ago I had a loan for 10,000 with Lombard after so long I had trouble paying debt, it was then sold on to Arden in which I pay them£55 month but it's got to point whether I should carry on paying them I never signed agreement to say I would pay them . A couple of years ago I asked them for loan agreements in which they sent me a blank Lombard form they must have had all there money back , I am wondering if to stop paying them just not sure what to do I have looked and can't find it on a credit record can any body out there give advice thanks alot

Hi yes get a statement once a year I think , I have looked noddle and there's nothing at all on there . Been paying the £55.0 years must be ten or more thanks

There won't be anything on your credit file after such a long time, defaults drop off after 6 years and if you've been paying £55/month for over ten years, the default would have dropped off years ago.