lloyds scums

[leclerc]

Re: lloyds scums

Did the loan clear your credit card?

I think the additional charges being given are in need of challenging on the basis of their letter btw.

[eryca313]

Re: lloyds scums

On the first page they were just repeating the letter I sent them but if You need it please let me know.

[eryca313]

Re: lloyds scums

Hi everybody I am sorry I was not available for a while but had a little car accident and had to deal with insurance and changed my broadband, but I am here now and ready to answer any questions.

Yes I can scan the letter no problem and to be honest I am as confused about the £300 as You are. If it is needed I can scan You the response from the letter and my bank statement where all have gone wrong following the next few month untill I took the loan.

But again,will loyds let me cancel my account with them even if I have a loan?

Re: lloyds scums

Eryca,

As you can see we're still getting about confused over this refund. Is it possible to post up the letter this post was based on the following two posts. If you don't want them public, e-mail them to me and I'll liaise with leclerc to get it sorted out for you. If you can't scan, could you just type a copy of the letter in so we can try to work out exactly what they're doing. Thanks!



hi everybody. I v received a letter from lloyds admiting they have missold me a bank card, they apologised for many things but they also twisted my words.

they paid off the overdraft charges (what occured after I sent the first letter of) but I am not sure whether they debited £300 to my account so it has brought me back to £0 or they gave me overdraft limit of £300 (I will have to check).

they also said they will send me £50 as a compensation and if I am not happy I should contact them again or contact the FOS.

any advice how do I take it further? I paid £8 each month for 3years while I have been banking with them due to misseling the bank card, furthermore due to these card charges I have occured more bank charges which have made me take the loan as it has gone too far.

they gave me a phone number to call but do not want to talk to them on phone I will rather have black and white hard copy so I have proof about the conversation.

any suggestions?just cheked my account as i wasnt sure what's happened there and realised that lloyds refunded all the overdraft they put on my account, they added £107.74 (which I have no clu what is about) but they took out straight £60 which I have no idea about what it is either....

so yes basically £300 what the bank gave me was to cover the overdraft charges which occured after I have sent the first letter to them regarding misseling the account. I was overdrawn by £348 on the end of february. by debiting £300 to my account I was -£48 overdrawn, but I just realised they refunded something worth £107.74 as well and took out £60 which completely confuses me because I have no idea whats going on.

I just wasnt sure whether they cleared my account from overdraft charges or put me in more debt I am sorry if I made you confused.




what I was trying to say was that they may had refunded the overdraft charges but not the card charges I had going on 3years.

Read more at: lloyds scums - Page 5 - Legal Beagles Consumer Forum

[leclerc]

Re: lloyds scums

If we can get either eryca to scan the letter on the forum(the last one with the offer), or if she could write it freehand excluding her personal details then the letter can be tailored to their response.

Proving misselling of a packaged current account is difficult but not impossible(ie travel insurance, AA cover and Mobile phone insurance--which requires registration) however proving why it took so long may be more difficult.

Re: lloyds scums

Nattie, I agree entirely. Read my last few posts and I've been trying to find out exactly what the situation is.

I would suggest we advise Eryca to wait to send any letter for the moment.

If you're happy to, could you try and get to the bottom of what's what with this as I've already put down the situation as best I can work it out.

Once we know the situation, perhaps you could post it clearly, then I'll willingly write another letter making sure everything is right.

I'm not sure Eryca herself really knows though, so I had to make some assumptions. -eg- Was she missold a card or an account? The £300 returned - was it for the overdraft or to cover the £7.95 fees?

I don't think we're after hardship, I think it's more trying to get her back into the position she was before she was misadvised. Is this possible?

I'll leave it with you for the minute if that's OK to see what you can find from Eryca, then we can take it from there.

[leclerc]

Re: lloyds scums

Look, Caspar the letter that lloydsTSB have sent to eryca is necessary to view prior to writing any letter because how they have worded the letter is important as to how a response is given(hopefully eryca could type it up freehand and post it up).
I stand by my comments that I do not believe that LloydsTSB will reconsider a further refund of charges based on financial hardship but I will add a caveat, the letter they wrote offering a refund of charges is important to view because of what they wrote.
Was the offer based on charged since November when they failed to respond to eryca or was it from September?
Is it based solely on "packaged account" fees or overdraft fees?

Their letter currently means that they have complied with the Lending Code and that if the OP is rejecting the offer then the full picture is required. I am pretty good at Financial hardship and the lending code Caspar but I won't write letters for anybody.


Some other facts we need to bare in mind.
1) LloydsTSB is not being used as the main bank for her money by the OP.
2) LloydsTSB have made an offer and it is important to see what exactly that is because the further £100+ of charges might be challengeable based on the first refund.
3) On the loan, no one forced the OP to sign it so I'm not sure it is reasonable to ask the bank to give an interest free loan on legitimate charges, ie where the OP had items returned on the account or where they have used the overdraft legitimately, ie within their overdraft limit.

Let's get some more info first but my first reaction in November was that it was not a hardship case. The fact that they have made an offer of money in February may not necessarily be related to hardship.

Re: lloyds scums

I'm not going down any line. I volunteered to write a letter for someone who has a lesser command of the English language, that's all, based on the fact that Lloyds have admitted misselling her an account that bore charges, and that these charges have contributed to her current position.

As she was misadvised in the first place on coming into this country, I'm taking the view that she should be put back in the position she was in before the misadvice took place. Obviously if she's been spending wildly in night clubs etc... then it's an entirely different case, but that's not the picture we're given here.

I'm very happy to pass it over to an expert if you're volunteering - I'm sure Eryca would be much better off in the hands of an expert rathr than an amateur trying his best!

[leclerc]

Re: lloyds scums

Nattie,

tahank you, and yes indeed I will edit it. Just one question - what am I quoting from, because I downloaded a pdf last night and that's what it said it was? Glad to be corrected and will go back and check.

The £8.00 comes if you read the thread, as that is the figure that has always been quoted, so that's what I used.

I read page 1 which said £7.95(and it's how much it costs on their website).



I would add that I hope you are not going down the line of Financial Hardship because it will be unsuccessful.

Re: lloyds scums

Nattie,

Thank you, and yes indeed I will edit it.

The Consumer Credit Directive (CCD) was adopted by the European Council in May 2008, and regulations implementing its provisions, the Consumer Credit (EU Directive) Regulations 2010 ("the Regulations") come into force on 1 February 2011. Where any of the existing requirements of the Lending Code conflict with the Regulations, the Regulations take precedence. A new edition of the Code will be launched at the end of March 2011 and any inconsistencies between the Code and the Regulations will be addressed at that time.

Hopefully you can see where the confusion arose!

The £8.00 was totally my error - apologies!

I think it's all edited, but could someone please proof read it - you know what it's like when you've written it yourself, you read what you expect to be there.

Thanks!

Caspar

[leclerc]

Re: lloyds scums

Caspar please can you re read the letter because it is inaccurate and does contain two errors and one of them is a pretty big one. The minor one is the cost to the account is £7.95(yes I would argue of 5p for 36 months) and the major one is that you are NOT quoting from the "Consumer Credit (EU Directive) Regulations 2010".

Re: lloyds scums

Hi Eryca,

Sorry its taken till this evening, but here you are as promised.



Dear Sir,

Your Ref: abcd1234

I write further to my letters of dd/11/2010 and dd/02/2011. Firstly may I thank you for your reply in early March 2011 in which you admitted the misselling of an account to myself. I was sold one that carried a charge of £7.95 per month when there was an alternative current account that bore no charges whatsoever and would have been more than sufficient for my needs. May I also thank you for writing off the overdraft and for the goodwill gesture of £50.00 compensation.

While I am happy with the progress made so far with this issue, you did ask me to write again if I was not totally happy with your resolution. Sadly this is the case and I will try to outline my reasoning below.

In particular, at the very end of what I apologise is a long letter, I have mentioned a few short references to The Lending Code.

When I first approached you I was in a position where I had no bank account, no debt and being from a foreign country was heavily reliant on the honesty and integrity of the banks to offer me the very best advice for my situation and to provide me with the most appropriate account for my circumstances. I came to Lloyds in good faith that this would be the case.

Unfortunately, as you have already acknowledged, this was actually far from the case. If anything, my ignorance of the banking system in the United Kingdom was exploited for your personal benefit.

As you will see if you look back at the history of the transactions on my account, as a direct result of the continual £7.95 charges, which should never have been there in the first place, I went overdrawn and then started incurring charges for having an unauthorised overdraft. This in turn led to me having to take out a loan of £1400 in August 2010 as you advised it was the best way for me to repay my overdraft charges and my card debt.

When you bear in mind that had I not been, by your own admission, missold the account in the first place, I would have not have gone overdrawn as I would not have been paying the recurring £7.95 per month and my level of debt would have been at worst substantially reduced, and at best I would have remained in credit all the time.

What I think would be a fair and equitable resolution to this issue would for me to be put back in the position I was when I first approached you for advice –ie- not only for the overdraft to be written off, which I appreciate as an initial gesture, but also for all other charges to be refunded so that I am effectively left with the zero balance I had when I first came to you for advice.

To my mind therefore there are two things you need to be considering, working on the principle that I should be returned to the same position I was in before walking into your branch three years ago. Firstly that as a direct result of the £7.95 per month charges and subsequent overdraft fees I was effectively forced into taking out a loan which I did not really want and certainly should not have needed. This issue still needs addressing.

Secondly, I think you need to bear in mind that for those three years I have been paying £7.95 per month which I should not have been paying.

I fully appreciate that you have made a very kind initial gesture of goodwill by effectively covering my overdraft, but the fact remains that there are still many multiples of £7.95 per month and more importantly a loan of £1400 which again I would never have needed had the initial advice I had been given been accurate.

I believe a fair compromise would be for you to return the three years worth of £7.95 per month paid (£286.20) and deduct that from any balance outstanding on my loan. Further to this I believe that as the loan should never have been necessary anyway, you at minimum rethink my repayments on this with a view to returning all interest already paid and deducting this from the remaining balance. Interest should then be cancelled on the loan and my monthly payments reduced accordingly.

At best I would ask that, given the series of unfortunate circumstances of which I have undoubtedly been the victim, you consider writing off the loan in its entirety. This would then actually return me to exactly the position I was in when I first came to your company to seek good advice, and advice which very sadly was lacking (see final quotation below).

To finish I would like to quote a few points from The Lending Code. Perhaps while reading the few of many points I could have picked out, especially possibly the final one, you could consider whether or not you believe that Lloyds, as a responsible financial institution, have lived up to the issues mentioned. As I say, these are just a few of many I could have chosen to quote:

Section One

Subscribers will make sure that advertising and promotional literature is fair, clear and not misleading and that customers are given clear information about products and services.


Customers will be given clear information about accounts and services, how they work, their terms and conditions and the interest rates that apply to them.

Section Eight


Unless it is impracticable to do so, as in the case of products purchased by telephone, customers should be provided with any product terms and conditions - and be encouraged to read them - before they commit to purchasing the product.


All terms and conditions should be written in clear and intelligible language. They should be fair in substance and, when relating to personal lending, should reflect the requirements of the Unfair Terms in Consumer Contracts Regulations.

Section Nine


If, during the course of a customer’s account operation, a subscriber becomes aware via their existing systems that the customer may be heading towards financial difficulties, the subscriber should contact the customer to outline their approach to financial difficulties and to encourage the customer to contact the subscriber if the customer is worried about their position. Subscribers should also provide signposts to sources of free, independent money advice.


Subscribers should determine the level of intervention required dependent on the individual customer’s position.


The subscriber should explore a range of options with the customer. Usually this will require the customer to disclose to the subscriber details of their income, expenditure, assets and liabilities, including amounts (if any) owed to other creditors. This information will be used to develop a plan for dealing with the liabilities.


Where a consolidation loan is being provided to a personal customer and the subscriber considers the customer to be in financial difficulties, the subscriber should reduce or pay off the existing in-house borrowing that it is aware is being consolidated. This applies only where the existence of such in-house borrowing is apparent to subscribers via their existing in-house systems.


Where the subscriber considers the customer’s personal and financial circumstances to be exceptional and unlikely to improve, the subscriber may, among other options, consider writing off or not pursuing part or all of the customer’s debt(s).

I look forward to your response to this, and hope that you will give serious consideration to putting me back into the position I was before I first had any dealings with you.

Yours faithfully,

[leclerc]

Re: lloyds scums

P50 says I cannot claim JSA or anything else if I claim P50

http://www.hmrc.gov.uk/pdfs/p50.pdf

Where is housing allowance on that list?
Can you not claim Income support(not on that list either)?

[eryca313]

Re: lloyds scums

P50 says I cannot claim JSA or anything else if I claim P50

[leclerc]

Re: lloyds scums

Leclerc - I claim P50 at the moment cas I am being positive to find a job soon. but it says I cannot claim anything else if I claim P50.

Caspar - I am not worrying cas You were the person who helped me the most and I trust You anyways. thanks

P50 is claiming back tax. What has that got to do with claiming JSA etc,etc,?