Bank Charges - Default registered with Credit Reference Agencies

[Boogaloo]

Hi, I was part of the OFT action regarding bank charges. LTSB has racked up £1800 of charges having applied a £100 per day top up. I have refused to pay this hence my reason for joining the OFT in its action. LTSB has acknowledged that my claim was with the OFT. That however has not stopped them applying a default and that is adversely affecting my credit scoring. I have reported the matter to the Financial Ombudsman who came down on the side of LTSB stating that he was only looking at the contractual element and thus had no option but to side with LTSB. They were not in a position to confirm the legality of the charges. I tried to negotiate with LTSB but was informed (and I still have the recording) that they would not remove the default recording even if I paid the full amount. I am now in a divorce situation and I need to raise money to pay my ex-partner but am failing at every level because of the default registered. I am at my wits end. Anyone able to offer some sound advice bearing in mind LTSB's stance.

[Amethyst]

Re: Bank Charges - Default registered with Credit Reference Agencies

Not sure I really understand what you mean when you say you joined the OFT in its action, or that Lloyds acknowledged your claim was with the OFT. I presume you entered a complaint to the FOS to reclaim the charges.

The OFT lost in court against the banks and therefore at the present time the charges are considered legal. Doesn't meant they are fair but it does mean the FOS will side with the banks on standard charges unless there are extreme circumstances and hardship involved.

When was the default entered ?
What is the position of the account now ?

If you did settle the full amount then you could have the default mark changed to a settled marker which would lessen the impact on our credit file a small amount.

[Mebestmatewes]

Re: Bank Charges - Default registered with Credit Reference Agencies

Can we still claim bank charges back from lloyds?