LLoyds Bank charges plus interest

[amandaj]

Hi Guys,

I started the proceedings to try and claim my bank charges back back in 2006, apart from a few letters from them I have heard nothing. I am currently paying these back on a monthly basis. At its worst I had charges totalling £4500 (all bank charges) and was told that even though I had put a claim in I had to pay it back in the meantime.
I have had a standing order set up with them for years but thought I would have a look at it yesterday and this is what I found.

This time two years ago the balance was £3900, I have paid £87 for 22 months and then for the last two I paid £104. In total £2122. Currently my balance is £3400!!!!. This is because they have been charging me interest of between £50 and £70 a month PLUS £5 extra for the privelage.
I called them up to say I could no longer afford to pay as much as I am currently on mat leave and am averaging around £300 which doesnt even cover my mortgage and heating. All they said was that they could not do anything and that I had to go to a debt counselling service which I did today.
They have said that they could contact Lloyds and ask them to stop the interest and set up another payment plan but that I would also have to do it for all my debt. I don't really want to do this as it has taken me the last six years to get it up to the highest it can go.

Does anyone know of anything else I can do?

i am also patiently waiting on letters from them, Barclaycard and Black horse about missold PPI and am wary that any money I receive from Lloyds or black horse will be paid into the original account which will then swallow it all up.

The LLoyds account is not used anymore for my day to day banking. I only pay money into it but as you can see am getting no where fast.

Thanks

Amanda

[pompeyfaith]

Re: LLoyds Bank charges plus interest

Amanda,

Barclaycard you will be ok as they have no connection to Lloyds, however Black Horse is another matter as they are part of Lloyds Banking Group and can use the SET OFF rule to clear or reduce any arrears from other accounts within the Lloyds Banking Group.

I would start by sending a Subject Access Request to Lloyds requesting complete banking history and screenshots of the account.

Regards

[di30]

Re: LLoyds Bank charges plus interest

Hi Amanda and welcome.

How long have you had your complaints of PPI in with Lloyds?

As you will be aware, the BBA are not appealing as announced yesterday, the banks caved in, with Lloyds being one of the first last week, so hopefully you will not be waiting too long now on the outcome of the complaints.
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And also just to add, if you would like to post up a thread on the PPI section of the threads so you know where you are with yours.
http://www.legalbeagles.info/forums/...play.php?f=125

[WendyB]

Re: LLoyds Bank charges plus interest

I've never had any dealings with Lloyds but I believe they were a hard nut to crack regarding bank charges refunds. As suggested, send SAR so you can see exactly what the state of play is. Then it may be worthwhile doing a hardship letter, see if you can get the interest frozen, possibly refunded, debt written off. There are people far more knowledgeable than me on this, I'll PM someone for more advice. In the meantime, have a good look around the Hardship forum.

[di30]

Re: LLoyds Bank charges plus interest

What I did forget to mention is, that when we were in hardship a few years back, we had written to lloyds about a few accounts we fell into arrears with, we did eventually contact a free debt organisation CCCS, and they sent us template letters and copies of our expenditures to send to Lloyds, to pay token payments until our financial position improved.

We also requested for many months on them freezing the charges and interest, it was no each time, so it got to the stage we made a complaint to the FOS who dealt with this as requested on fast track - due to our hardship.

Within a few months, the FOS resolved this in our favour, and the bank frozen the charges etc, and made a refund of these back to the account, and we were also awarded further redress for distress and inconvenience, this was paid directly to us by cheque.

The FOS - Adjudicator said if the bank had dealt with these issues immediately then the debt would not have risen so much.

Maybe its something you should think about if they keep refusing.

Good luck.

[amandaj]

Re: LLoyds Bank charges plus interest

Thanks very much for all your help. I have an outstanding complaint with Lloyds dating back to 2006 regarding bank charges but the PPI is totally seperate.
I have a telephone appt with CCCS this morning so I will see what they have to say but I will definitely be heading down the hardship rule I think.

Again thank you all

Amanda :clap2:

[leclerc]

Re: LLoyds Bank charges plus interest

Hi Guys,

I started the proceedings to try and claim my bank charges back back in 2006, apart from a few letters from them I have heard nothing. I am currently paying these back on a monthly basis. At its worst I had charges totalling £4500 (all bank charges) and was told that even though I had put a claim in I had to pay it back in the meantime.
I have had a standing order set up with them for years but thought I would have a look at it yesterday and this is what I found.was the amount you were paying clearing the interest and/or overlimit charges being taken?


This time two years ago the balance was £3900, I have paid £87 for 22 months and then for the last two I paid £104. In total £2122. Currently my balance is £3400!!!!. This is because they have been charging me interest of between £50 and £70 a month PLUS £5 extra for the privelage.The £5 charge came in this year if memory serves me right so they will charge you that even if you are within your overdraft limit.

I called them up to say I could no longer afford to pay as much as I am currently on mat leave and am averaging around £300 which doesnt even cover my mortgage and heating. All they said was that they could not do anything and that I had to go to a debt counselling service which I did today.
They have said that they could contact Lloyds and ask them to stop the interest and set up another payment plan but that I would also have to do it for all my debt. I don't really want to do this as it has taken me the last six years to get it up to the highest it can go.
Have you spoken to your mortgage provider to explain the change in circumstances?
Does anyone know of anything else I can do?

i am also patiently waiting on letters from them, Barclaycard and Black horse about missold PPI and am wary that any money I receive from Lloyds or black horse will be paid into the original account which will then swallow it all up.
How much is the PPI claim with Blackhorse and Barclaycard because if the blackhorse one is paid into the Lloyds account it will reduce the amount of money left to pay off and might allow you to reduce the amount you repay into that account, a win win situation.
The LLoyds account is not used anymore for my day to day banking. I only pay money into it but as you can see am getting no where fast.

Thanks

Amanda

Will have a look at other comments and possibly comment more
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My personal opinion is that a bank charges case is simply not gonna be successful cos what you are currently being charged with lloyds is interest plus the fee for having an overdraft.
If you have arrears on mortgage, electric, gas, council tax then perhaps you can approach them but your chances of success are slim since you have stated you no longer use them as your main current account provider, ie day to day banking is with someone else.