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Lloyds Response


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Hello,

 

I sent Lloyds a letter in regards to my finances after consulting PayPlan.

I informed them of my finances and that i could only offer to pay £1 a month. Below is the letter they sent me:

Having carefully looked at the information we can't accept your offer. If your finances improve and you are able to increase your offer please ring us on the number above.

 

In the meantime your normal payment will still be taken and interest and charges will still be applied.

 

Its important to tell you if you miss any payments your account will be passed to our collections department and our normal recovery action will start.

 

You may want to think about getting free independent financial advice from organisations such as the Citizen Advice Bureau, the Consumer Credit Counselling Service, or National Debtline. You can find details for these organisations in your local telephone book.

 

So what do i do now? Do i just keep paying them £1 if that is all i can afford? What i do not understand is financial institutes are not very smart at all? They are trying to take blood from a stone. If my figures prove i cannot afford the minimum payment, how do they expect people to pay?

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Oh sorry. It is a credit card. I did go through the whole CCA, but that was a no go. I don't have a bank account with Lloyds, so i am safe there. I usually pay via a standing order each month.

Did you reclaim any charges on the credit card including the £12 ones?

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FSA Waiver on Bank Charges:http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/pdf/dir_quart_0709.pdf

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Oh i checked my account and it was not a standing order, it is just a one off bill payment i make each month. So they cannot claim anymore money then what i offer.

 

But i would like to know in regards to the letter is it ok for me to keep paying £1 or however much i can afford?

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