Hi all, thanks for your replies. We are a partnership of 3, myself my husband and a friend. I think the cover gave each individual enough to cover the loans from the bank. Yes the account is and has been in unauthorised overdraft several times, I need to clarify if the Lending Code applies or not. We did not want and could not really afford the insurance but it was made clear that we would not get the 2nd loan unless we signed up for it. Surely this is undue pressure to buy.

Hi Slick123 and everyone else. Thanks for your reply and warm welcome. I am unsure how to proceed re Hardship, does this apply to the business or the owners, we are a partnership, working other jobs to make ends meet and repay business related credit card debts. The business struggles on a day-to-day basis as takings fluctuate greatly week to week and seasonally. I would welcome opinions on the following points:- 1,Does the original BMs verbal agreement to give us an overdraft upon opening carry any weight. We certainly would not have opened an account where we had no possibility of g

Hi I am hoping to defend our business from further damage by Lloyds bank and want to know how best to proceed. We opened our account in 2010 with a loan of £60,000 from an apparently supportive bank manager who promised to give us an overdraft when we opened. We met the repayments for 6 months whilst rebuilding before we even opened. We needed a further loan of £25,000 to complete the refurb which we received on the understanding that we took out life insurance with Lloyds. We did so and received the loan which enabled us to complete the project. Sadly 2 weeks before we opene