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I need some advice in dealing with Lloyds TSB as one of my relatives has recently become unemployed and has an overdraft that is accruing charges. She needs to freeze interest on this account immediately so she is not getting further in debt.
I've found a standard letter to request freezing the account but am interested to know how best to approach them to ensure they don't just bury her request and continue to add charges.
Re: Unemployed with Lloyds TSB overdraft-help needed!
Hi Phoenix,
I have looked through a few threads but thought the hardship cases were largely applicable to reclaiming charges. It may be worth a look and see if I can help her adapt a letter using some of the detail.
I've got a feeling Lloyds TSB won't be in any hurry to freeze interest which of course will put her into a situation where she has an unauthorised O/D that gets even higher charges. I have to help her as she's devastated at losing her job.
Re: Unemployed with Lloyds TSB overdraft-help needed!
Hi, the most important thing to get across to the bank is the situation of your friend. You are asking for the bank to freeze interest in order to allow the time needed for this debt to be handled correctly, you are not looking to avoid the debt even though I suspect much of it is charge stricken.
Quick question - what type of account is it and when did they open it?
If the bank is hell bent on charging regardless of a perfectly reasonable request for help it will ultimately look bad on them as they ignored the opportunity to allow the account holder to get back on their feet.
At this stage keep the letter simple and to the point. Ask them for a freeze on interest and anything else you feel would be helpful, suggest hardship if that applies (which it should do in a case of unemployment). If the bank remains ignorant get on to the Financial Ombudsman immediately stating they are being unreasonable and asking for intervention.
Unemployed with Lloyds TSB overdraft-help needed!
TSB as one of my relatives has recently become unemployed and has an overdraft
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