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Business Overdraft/Loan arrangement fees.


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Hi all;

Wow, first post! Just got a letter in the post today, the folks at Lloyds have just debited a £100 Overdraft Arrangement Fee from my already overdrawn business account to keep my £2000 overdraft facility up for another year. I first arranged the overdraft this time last year and was charged an Arrangement Fee of £150. Add to that a Business Loan arrangement fee of £175 in early 2008 and we're talking quite big money, especially as my little business (more of a hobby really) turns over less than £13000 a year! These fees seem to be deep in the realm of the Unreasonable, do I have a chance of reclaiming some of them? I've looked hard at previous posts on this and there seems to be very little regarding Business accounts, can anyone help?



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I don't think that you are able to reclaim them. There is no indication that they might be penalties. They are not unauthorised account activity charges -- and anyway you are not operating as a consumer in this matter.


What you are experiencing here is more evidence of Lloyds commitment to breaking small businesses and to further destroying the economy regardless of the cost to the taxpayer.


I think the simple messages -- don't do business with Lloyds -- don't put your business at risk with Lloyds.


Start looking around for somewhere else and maybe because you are a potential new customer you will be able to negotiate a decent deal.


I think probably the next time that you want to arrange a further overdraft facility, that you should start off by making it clear to your bank (which ever it is) that you are also looking elsewhere because you have seen some good deals with other banks. This is the only way that you might be able to convince the bank to act reasonably and decently with you.


Once they have got you as a customer, they will normally treat you like a pig, bleed you dry and then cast you out to the wolves.


If you do find another bank that gives you a good deal then go to them but don't expect to be treated any better when the time comes to try and renew your arrangements.


Incidentally, it is grossly unfair for them to offer you an overdraft facility, and then when you are overdrawn to charge you more money for keeping the originally agreed overdraft -- presumably with a failed or maybe explicit suggestion that if you don't pay, that your overdraft will be foreclosed, that you will be required to repay immediately, and that if you don't you will be handed over the debt collectors and defaulted on the credit reference agency register.


However, Lloyds and the other banks know very little about fairness.

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I am new to the whole posting thing but this is the only near relevant post I can find - so apologies if I am wasting time!


Where do I stand with business bank charges with Lloyds coupled with extreme financial hardship?


My point being that I am a sole trader with appro 30K of charges and I am trying to reclaim them based not only on the disproportionate value but upon hardship as an individual. Of course Lloyds are not willing to give in and their administration is appaulling!


I have been bullied into dealing with the debt team at Lloyds but this has not resulted in a resuced payment plan this has merely amalgamated my borrowings to one payment. With this in mind Lloyds are trying to say that they have acted appropriately but will not refund the charges - this has been going on for almost a year now.


Does anyone have any suggestions??? even though some banks are not paying back the business charges there is still a fairness issue here and afterall has I not had those charges my business would not be failing!


It seem ridiculas to me as if they paid back the charges this would reduce the risk element to the bank as al the indebtedness ould be cleared and I would be more than happy to run a million miles away from them!


Again sorry if this cry for assistance / help is in the wrong place!

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