lloyds scums

[Caspar]

Re: lloyds scums

I dont think I can close the acount as they put the loan on it. is it still possible to do that?

with the £300 they paid back all the charges what they added to my account since I have sent them the first letter and the response clearly says that they refund my overdraft charges and not the card charges what occured in 3years.

how can I make my loan interest free than - it ll be ok for next week yes.

what is CRF?
------------------------------- merged -------------------------------
THANKS DI but I would have never done this without Your help, so appreciate everything YOU ALL done for me.

Couldn't agree more - Di is a gem!

Eryca - CRF is a Credit Reference File which companies refer to ifsay you wanted to buy a car on credit to see how you've managed your finances.

I'm a bit lost on the £300 now. Let me try and get this right, feel free to tell me I'm wrong!

They've admitted mis-selling you the card which you've been paying £8 a month for for 3 years (£288).

The overdraft - did this amount to £300 and they've returned the money or had you run up £300 of charges on it and they've refunded these, but your overdraft still exists? If so how much is it (send me privately if you wish).

OR You are saying you were mis-sold the account, which they have now admitted, and because the £8 permonth accumulated with you on a tight budget, it meant you went into overdraft by £x.xx and they have refunded £300 on the overdraft of either charges or effectively to reduce your overdraft to £0.00 (which is it?)

When you mention the loan, do you mean the overdraft, or have you actually taken out a loan where they gave you say £1000 and you pay back so much a month for say 24 months?

Sorry - me being thick probably, but I need it clear in my head if I'm going to write a letter.

If you want to call me nasty things, do by all means, but don't type them!

[eryca313]

Re: lloyds scums

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.

i never heard from CRF before so I have no idea about it sorry.

I took the loan in august because they said this is the only way to get rid off the overdraft charges occured in April 2010. they took out the card charges which took me overdrawn with £8. I was unable to pay that for about a week and ended up paying about £78 +the standard overdraft charges. I was unable to pay that and in the next month I when they took out the money it took me into red again. by august I had about £400 overdraft charges which i could not pay. so when I called them in August they said the only option have left is to take a loan otherwise the charges will go on and on. so they put my credit card and the overdraft charges together into 1loan (£1400) but they still requesting me to pay for the credit card which I had to damage soon as I took the loan out.

hope that helps.

ps: i didnt call you names dnt worry and I am so sorry if I confused you

[Caspar]

Re: lloyds scums

Hi Eryca,

Right when you started out you had no debt, no loan and no bank account correct?

Being honest, disregarding the £8 per month that they have effectively returned via the £300 + £50 compensation, you were obviously living on a very tight budget anyway. Do you think you have managed to keep coping paying the £8 or do you think you'd have ended up taking some sort of loan anyway?

Also, if you were struggling to pay the account charge, how are you coping paying the monthly loan charge as that must be a massive draw on your money? Are you coping, or do you feel you're gradually slipping further into debt?

I'm only being so nosey as it will have a bearing on how I phrase the letter.

[di30]

Re: lloyds scums

I dont think I can close the acount as they put the loan on it. is it still possible to do that?

with the £300 they paid back all the charges what they added to my account since I have sent them the first letter and the response clearly says that they refund my overdraft charges and not the card charges what occured in 3years.

how can I make my loan interest free than - it ll be ok for next week yes.

what is CRF?
------------------------------- merged -------------------------------
THANKS DI but I would have never done this without Your help, so appreciate everything YOU ALL done for me.

Your very welcome and just happy to do my bit., good one X

[eryca313]

Re: lloyds scums

at the moment I have £100 /month as I became unemployed in November and have not find a job yet. so I am unable to pay anything. I am sending to each of my creditors letters to freeze my account until I find a job and I can pay it.

I was missing the £8 every month but I believed I could do nothing about it untill September this year when the receptionist finally told me I can change my account to current account.before when I asked if I can withdraw the so called 'benefits' from my account I have been told there is nothing they can do about it. but funny enough in September when I went to talk to the manager they told me I can change it to current account where I have no charges on the card.

do you know I am very angry that I have been so stupid I trusted the banks. Now because of 1year when things di not go the way they have suposed to I v lost everything.
------------------------------- merged -------------------------------
ps: caspar dnt worry about being nosy because I know You need to know everything about my situation to be able to help. dnt worry about asking questions cas I am happy to answer them

[leclerc]

Re: lloyds scums

at the moment I have £100 /month as I became unemployed in November and have not find a job yet. so I am unable to pay anything. I am sending to each of my creditors letters to freeze my account until I find a job and I can pay it.

I was missing the £8 every month but I believed I could do nothing about it untill September this year when the receptionist finally told me I can change my account to current account.before when I asked if I can withdraw the so called 'benefits' from my account I have been told there is nothing they can do about it. but funny enough in September when I went to talk to the manager they told me I can change it to current account where I have no charges on the card.

do you know I am very angry that I have been so stupid I trusted the banks. Now because of 1year when things di not go the way they have suposed to I v lost everything.
------------------------------- merged -------------------------------
ps: caspar dnt worry about being nosy because I know You need to know everything about my situation to be able to help. dnt worry about asking questions cas I am happy to answer them

Are you receiving all the benefits you are entitled to? Have you applied for Housing Benefit/local housing allowance?

[Caspar]

Re: lloyds scums

Hi Eryca,

Just to let you know it's lloking like Tuesday. Was hoping to get it done tomorrow, but had a shed load of stuff come in yesterday with a deadline of tomorrow night, so sadly your letter drops down the list one. I will do it though on Tuesday, don't worry.

[eryca313]

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

[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,?

[eryca313]

Re: lloyds scums

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

[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)?

[Caspar]

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

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".

[Caspar]

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

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.