Lloyds TSB relent on charges under threat of BCOBS action

[Selexus]

Hi,

 

Long story short but my Ltd company is no longer viable due to the economic downturn.

Left with a £7K OD which i'm not sure what to do about.

The company has had the OD facility for the best part of 5years. Now the bank (Lloyds TSB) are getting shirty.

is it possible to SAR a business account ? I need to see the details of the OD agreement to find out if i am liable.

 

Thanks

Selexus.

[dx100uk]

yes

 

dx

[BRIGADIER2JCS]

Liability will depend on if you are a personal guarantor for the overdraft.

[Selexus]

Thanks guys.

I'll get something in the post to our friends at Lloyds.

 

Cheers.

[Selexus]

Liability will depend on if you are a personal guarantor for the overdraft.

 

So the inevitable letter from LLoyds TSB has arrived to me personally. Asking for payment of my company overdraft.

I've sent a brief "prove it" letter and will see what they come with. They have indicated they will pass this to Westcott should we fail to come to an agreement.

 

Meanwhile i've been discovering a lot of charges on the business account that don't look right. They have charged me an unauthorized overdraft fees off the back of the monthly account charges as well as charging me twice for the overdraft arragment fee and then cancelling the OD a month later . I've sent them a letter stating the account is in dispute until i recive back the SAR and can figure out what charges are legit and which are not.

Also inculed a repayment proposal (on behalf of oldCo not me personally) of £250 per month upon condition that they freeze interest and cease charges. Is this reasonable ? I hope so as it's all i can afford.

 

Have i done the right things so far ? Do i need to do anything else ?

 

Cheers

[Selexus]

yes

 

dx

 

Not according to the SAR dept at Lloyds.

Got a letter last week (whilst on Holiday) that said that SAR requests don't apply to LTD companies. Are they right ?

 

Thanks.

[Selexus]

So to cut a long story short Lloyds TSB where threatening me with the DC's and other assorted nasty business.

I made a formal complaint about the banks unfair treatment. Sighting several breaches of BCOB.

At the same time i deposited the original overdrawn amount into the account leaving just the charges and interest outstanding. I stated in my communication to Lloyds TSB that i was refusing to pay this, as it had been accrued due to actions that where in breach of BCOB, and invited them to put the matter before the courts if they felt confident in their position.

They wrote back within the last couple of days stating that they are accepting my payment as full and final settlement of the account, without admitting any breach of BCOB.

 

So chalk another one up to the successfull use of BCOB

[dx100uk]

hey well done!!

 

dx

[MARTIN3030]

Re: nice BCOBS victory on business OD.

 

Well done,although of course they would never admit a breach under BCOBS.

Pity that instead of inviting them to put it before a Court,that you did not put it before court yourself and invite THEM to defend.