Thread: Advice Needed re. Lloyds taking whole of weekly wage as charges

Hiya, I was wondering if anybody knows what the situation with Lloyds taking the whole of my boyfriend's weekly wage as Bank Charges?

My boyfriend has now been put on 3 day working week by his employer rather than being mde redundant which only leaves him with £180 per week (as opposed to the £260 - £300 he was getting).

At the end of the month Lloyds take £30 for his refinancing loan plus their £10 charge for the account, plus his Bank Charges (which range from £30 - £100 plus).

He has to pay me £150 per week for his share of the rent, bills, food, etc. He's fine this week but next week, because he won't have enough money left to leave in the account for his loan & charges, Lloyds will take them out anyway and so this will make him go overdrawn AGAIN & next week's wages will be completely obliterated by the overdrawn amount.

I was just wondering if he goes into his branch and tells them his situation are they still allowed to take bank charges even though they know his wages just about cover his rent & bills?

We're already losing £400 per month & so it's going to be hard enough to pay rent & bills anyway without Lloyds adding to the problem and taking £100 whch could be put to good use.

The only option we've thought about is if his wages go into my account so that Lloyds can't take them but I'm not sure what sort of problems that would cause with them adding more and more charges, defaults, etc.

Hi and Welcome

If it was me I would get my pay into another account out of the way so they can't just take money out like they are doing.
I would not tell them I was doing that but I would explain to them the present situation workwise and see where that take you. Ask them to accept a reduced payment until the situation improves. You don't have to go into the bank to do it send them a letter explaining the work situation you could send them an I&E so they can see for themselves. Obviously priorites are rent, gas/elec/council tax, food etc., then they can see exactly what you have to pay out, if you're left with £25.00 then thats all they could have/or split between them and anybody else.
DG

But what happens if they don't accept this & carry on taking their charges out and making the account go deeper overdrawn?

My worry is whether he will be able to open another Bank Account with a different Bank due to credit scoring.

There a quite a few accounts he can open by doing it on line, just a basic bank account is what he wants one that he can set up DD if he wishes and a cash card for the machine and shopping.
The Co-op have a basic bank account
Halifax Easy Account (although I know ltsb) you could open it in your name if the thought worried you.
Royal Bank of Scotland
Post Office
Those are just a few.
I certainly would take my pay away from them to start with. If theres any DD/SO on the account get that changed to another account so they can't take any charge on them(put them into your account for the time being. Most companies will do that over the phone for you.
I would suggest a phone call to them and explain the situation then confirm in writing the telephone conversation along with an I&E.
What you want to do is ask them to freeze interest and charges and reduce his payment explain it is a short term solution.
I'm sure someone will come along soon with ideas regarding the charges as I'm not well up on that side of things although they did accept my sisters offer when we made that so you never know.
Have to nip out now I'll look in later.
DG

Hi,

Like Diamondgirl says, open another account, getting a basic one should not be a problem.................. .

http://www.consumeractiongroup.co.uk...parachute.html

Also re-claim all the charges, here's the step-by-step............

http://www.consumeractiongroup.co.uk...tructions.html

Regards.

Scott.

Thanks. I've already prepared him a Personal Budget Planner for him to take to his bank tomorrow with a copy of this week's payslip (this is what he wants to do to see where this gets him first).

If they won't budge then he will be taking all his wages out on Friday & will be putting them in my Lloyds Account.

The only DD he has is for the Lloyds Loan!! He doesn't have a problem making the loan payments however, it's just paying the overdraft charges that are the BIG problem.

Just one month free of overdraft charges may just help him to get back on track but...we shall have to see if Lloyds are willing to help him with this & are prepared to sacrifice their £100 per month of my boyfriend's hard earned wages!! Me thinks not!!

PS. We are both now going to reclaim our bank charges as I must be owed at least £2,000 and my boyf £3,000!!