Advice needed re Lloyds overdraft and solicitors

[scorterooney]

Hi all.

 

I think i know what i need to do with this but just want some opinions and pointers regarding letters to send etc.

 

Last year went overdrawn at the bank - lloyds turned the overdrawn amount into an overdraft and piled on the charges etc to the point that Wages would go in and leave us with not a lot to live on. In december we decided best course of action was to get wages paid into another bank and then attempt to deal with teh overdraft as a debt.

 

Anyway charges kept adding on for last couple of months and today got a letter from secchari, clark et al stating legal proceeding if you dont pay the lot in next 7 days ( amounts to just over £1000 now !).

 

Firstly - IM NOT WORRIED BY THE THREAT at all but i do want to deal with this and get it paid off.

 

I can afford £50 a month absolute max and thats pushing it but do-able. What i need to know is how do i go about making sure all interest and charges are stopped as its pointless paying £50 if they are then going to add more interest.

 

any pointers greatly recieved as ive only dealt with "old" debts and DCA's before where debts have been sold and interest stopped years ago etc.

[scorterooney]

hi , can anybody offer any advice on this ?

[N.P]

Hi scooter,

 

Not sure about this one, but I`m expecting the same crap as Lloyds only unleashed Silly, Claris & Michelle onto me this week for a pull payback of a Lloyds Credit Card. However, they have blanked my CCA request and reminder which I sent over four months ago. I sent their numpty Solicitors a suitable letter explaining this earlier this week, so I should be expecting some sort of a reply soon. Probably a damn Court claim knowing these morons.

 

Anyway, I also have a Bank Account with them which has a hefty overdraft in place, which like you I have blanked and moved everything to a new Bank and Account.

 

My Account also has charges added, which means the interest they are adding every month is also wrong.

 

I don`t know what to do about this Account to be honest. My Account is around 22 years old. We could possibly CCA them and ask for the Account opening forms and T`s & C`s from that time. I beleive the charges at that time were around £5. Also, there should be some limit or something on the Account.

 

So, again, I`m just as stumped as you on this one. Perhaps someone else will come along and help with this. I`m concerntrating on the Credit Card at the moment though, but I`m expecting more static regarding my Current Account and day soon.

 

I`ll keep an eye on your thread with great interest.

 

Regards

 

 

N.P

[Goldlady]

Hi and welcome to CAG. Have you worked out how much of this alleged overdraft is charges and interest that has been added to them?

 

If you are no longer using the account you could do what I did - or a version of it. Work out how much of it is not really owed at all - if they end up owing you money that's different - you need to consider claiming it back - but if it works out that you owe them about £100 you could offer them that to go away in an adapted version of the bank charge reclaim letter.

 

Worked for me on business account with Lloyds - we paid in small amounts each month until the overdraft matched the charges, then wrote and said 'let's call it quits' and they AGREED.

 

So really if you are no longer using the account and they would have to sue to get the money it is an easy way of getting your charges back.

 

Best of luck:D

[scorterooney]

Hi and welcome to CAG. Have you worked out how much of this alleged overdraft is charges and interest that has been added to them?

 

If you are no longer using the account you could do what I did - or a version of it. Work out how much of it is not really owed at all - if they end up owing you money that's different - you need to consider claiming it back - but if it works out that you owe them about £100 you could offer them that to go away in an adapted version of the bank charge reclaim letter.

 

Worked for me on business account with Lloyds - we paid in small amounts each month until the overdraft matched the charges, then wrote and said 'let's call it quits' and they AGREED.

 

So really if you are no longer using the account and they would have to sue to get the money it is an easy way of getting your charges back.

 

Best of luck:D

 

Thats an interesting take on things.

 

Would it not be a problem though regarding the bank cases in the high court ?

 

also if i did this they would still be adding interest which is bumping it up somewhat - could really do with getting that stopped so i can concentrate on the actual debt

[Goldlady]

Well the fact that the claims are stayed does not alter the fact that your account is/will be in dispute.

 

Regarding them adding on interest - if this is interest on their charges then they can add as much interest as they like - not your problem! They can charge themselves whatever APR they want.

 

Work out how much of it is charges. I think you will find they owe you money:p

[babybear39]

Subscribing...

[N.P]

Well the fact that the claims are stayed does not alter the fact that your account is/will be in dispute.

 

Regarding them adding on interest - if this is interest on their charges then they can add as much interest as they like - not your problem! They can charge themselves whatever APR they want.

 

Work out how much of it is charges. I think you will find they owe you money:p

 

 

 

Hi again Goldlady,

 

I think the problem is with them still adding interest on, is that it is so difficult to work out what they owe us in charges + interest on that.

 

With the account having charges on, and them still adding interest on, they are then adding more interest than they should be. So, how would we know how much interest to add onto our charges?

 

Do you understand what I`m trying to say? Because, I don`t, LOL.

 

Does anyone else know how to work this out with ease?

 

Regards

 

 

N.P

[Goldlady]

Yes I do. Understand. Will come back later if no-one has located a suitably spreadsheet.

[scorterooney]

Well the fact that the claims are stayed does not alter the fact that your account is/will be in dispute.

 

Regarding them adding on interest - if this is interest on their charges then they can add as much interest as they like - not your problem! They can charge themselves whatever APR they want.

 

Work out how much of it is charges. I think you will find they owe you money:p

 

 

Well i know what my job is tonight - Will take a look through and sort out whats what and see where it takes me.

 

I was going to do a claim on this account a while back - i did have charges equating to around £5k over the past 6 years but the cost of putting in the claim coupled with the stay till teh high court has ruled put me off.

 

What ( if any) are the implications of doing a full claim on ALL amounts charged over past 6 years at the moment ( with teh high court etc) ?

[Goldlady]

Hi again. You need to do your calculations and see where you stand. I always find a bottle of wine helps:p.

 

Thinking about it my OH's personal account, which is £1K overdrawn and no longer used, is in the hands of one of LTSB's solicitors. We have written to LTSB and copied the solicitors asking for £2K of charges back, therefore they owe us a grand. We have had a letter back from LTSB saying our claim is on hold pending the test case, but even though we get the occasional threatogram from the solicitors we just keep them at bay by reminding them that actually it is very likely that LTSB owe us money. We haven't issued a court claim yet, just sent a letter to LTSB.

 

I don't think they would take you to court when you have such a dispute.

 

Happy calculating