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Hi,

 

I have been on a DMP for 2 years now.

 

I have a combination of Overdraft, 1 loan, credit card and mobile phone debt.

All debts are going down nicely without interest or extra payments of any kind apart from my lloyds credit card.

 

At the beginning of the DMP I only owed £5100 (still £100 over the limit)

now the card is yo yos between £5900 and £6100, interest payments alone out weigh my DMP payment.

 

I have spoken to PP about this numerous of times they just keep telling me to ride it out,

once the other debts are paid they can offer lloyds a higher payment but this will still mean paying for a considerable time due to the interest.

 

Last month for example i paid £115 but the interest was £149.11.

I have requested by letter that the interest is frozen but i just get offered a lower interest repayment as £125 - £130

which isn't low enough for the DMP payment to make any difference and the offer is only for 3 months!

 

I have already investigated PPI on this card and there is nil!

I haven't received any late charges since the time of being on the DMP .

it literally just the interest is killing me!!

They will not give me the chance to pay it off.

 

Am i better off cutting it looose from the DMP and seeing how i chance against a court??

 

Please help!


Lloyds Credit card - £6K - PPI and interest refunded - £1200 remain F&F sent & accepted £360

Lloyds Overdraft - £620 - charges & interest refunded - £188.10 remain F&F sent & accepted £56

Black Horse loan - £10K - £2879 remain - F&F sent and rejected - CCA sent 3/6/13 deadline

Orange - £128 - £39 remain although CRA file states £11

Orange - £132 - £51.06 remain although CRA file states £45

 

Next stage F&F's to be sent - a step closer to being debt free

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Lloyds are horrendous - my husband's DMP (Payplan) includes them. It took him over 2 years of letter writing and phone calls to get them to finally stop the interest charges. The CCA1974 requires that creditors deal with you sympathetically in Mr Duff failed to see how they were helping him so he used their official complaints procedure. There is actually not very much you can do to force them to reduce or cancel the interest rate, however galling it is I'd follow Payplans advice and stick it out - Payplan wrote to Lloyds nearly every month for Mr Duff

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Thank you, I will try and keep on at them x


Lloyds Credit card - £6K - PPI and interest refunded - £1200 remain F&F sent & accepted £360

Lloyds Overdraft - £620 - charges & interest refunded - £188.10 remain F&F sent & accepted £56

Black Horse loan - £10K - £2879 remain - F&F sent and rejected - CCA sent 3/6/13 deadline

Orange - £128 - £39 remain although CRA file states £11

Orange - £132 - £51.06 remain although CRA file states £45

 

Next stage F&F's to be sent - a step closer to being debt free

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Lloyds are awful. When I started my DMP with the CCCS 6 years ago I had endless problems with them. Two years ago they suddenly refused to accept the normal payment and although the CCCS re-sent them the necessary paperwork I started getting endless phone calls both at home and twice at my workplace. I complained to both the CCCS and the FOS and magically once they got involved it all stopped and sense returned. Two months to go now and my plan is finally finished - it has been hard and a steep learning curve and I will never ever take out another credit card or any kind of credit again, but I am nearly there.

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Forgive me, but does this not break the rules of BCOB OR COB, and " making your bank treat you fairlY" Does this mean this is just another rule to be broken by the banks! confused I am.

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Unfortunately banks are a law unto themselves especially the outsourced (to India) Collections section of Lloyds. Despite several phone calls and letters to Lloyds it was only when I went to the CCCS who advised me to complain to the FOS that I finally got it sorted out and Lloyds did uphold my complaint. I also got all interest frozen and managed to get through the last two years without any problems from them, and now as I said have one month to go and will be debt free!!

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Hi,

 

I have been on a DMP for 2 years now.

 

I have a combination of Overdraft, 1 loan, credit card and mobile phone debt.

All debts are going down nicely without interest or extra payments of any kind apart from my lloyds credit card.

 

At the beginning of the DMP I only owed £5100 (still £100 over the limit)

now the card is yo yos between £5900 and £6100, interest payments alone out weigh my DMP payment.

 

I have spoken to PP about this numerous of times they just keep telling me to ride it out,

once the other debts are paid they can offer lloyds a higher payment but this will still mean paying for a considerable time due to the interest.

 

Last month for example i paid £115 but the interest was £149.11.

I have requested by letter that the interest is frozen but i just get offered a lower interest repayment as £125 - £130

which isn't low enough for the DMP payment to make any difference and the offer is only for 3 months!

 

I have already investigated PPI on this card and there is nil!

I haven't received any late charges since the time of being on the DMP .

it literally just the interest is killing me!!

They will not give me the chance to pay it off.

 

Am i better off cutting it looose from the DMP and seeing how i chance against a court??

 

Please help!

 

Hi

 

Just following on from what others have put

 

As you are probably aware Debt Management Plans are informal arrangements, this basically means that creditors do not have to freeze interest and charges, but they are expected to follow guidelines (one would hope anyway)

 

My opinion is, that if someone is genuinely tyrying to deal with their debts then the creditors should treat you fairly, if not then what is the point.

 

As far as I understand (someone correct me if I am wrong) PP claim on their website, that Lloyds are one of their supporters!!

 

http://www.payplan.com/organisations-that-support-payplan.php

 

Strange advice then telling you to ride it out and the rest and you having to write to Lloyds yourself.

 

Lets not forget though that PP are NOT a charity, they ARE a profit making business and as far as I am aware they recieve fair share contributions from creditors (in other words payments from creditors for their free DMPs)

 

I believe there is a PP representitive that posts on here, so maybe they can help / comment / clarify

 

Best Wishes

Edited by Wintry

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just a quick update. I spoke to my case worker from PP and she finally agreed to cut LLoyds cc free from the plan as they were no help at all. I am currently waiting for my SAR request to come back from lloyds so hopefully I'll have some news.

Thank you for your advice so far x


Lloyds Credit card - £6K - PPI and interest refunded - £1200 remain F&F sent & accepted £360

Lloyds Overdraft - £620 - charges & interest refunded - £188.10 remain F&F sent & accepted £56

Black Horse loan - £10K - £2879 remain - F&F sent and rejected - CCA sent 3/6/13 deadline

Orange - £128 - £39 remain although CRA file states £11

Orange - £132 - £51.06 remain although CRA file states £45

 

Next stage F&F's to be sent - a step closer to being debt free

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Hi, just another update, I know this is not a good way to go about it but I didn't pay Lloyds credit card a penny after dropping them from the dmp and it finally went to a DCA and I now pay £20pm until I get myself in a postion where i can afford to pay more and at least the £20 will go towards paying the total debt rather than the interest only.


Lloyds Credit card - £6K - PPI and interest refunded - £1200 remain F&F sent & accepted £360

Lloyds Overdraft - £620 - charges & interest refunded - £188.10 remain F&F sent & accepted £56

Black Horse loan - £10K - £2879 remain - F&F sent and rejected - CCA sent 3/6/13 deadline

Orange - £128 - £39 remain although CRA file states £11

Orange - £132 - £51.06 remain although CRA file states £45

 

Next stage F&F's to be sent - a step closer to being debt free

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Hi, just another update, I know this is not a good way to go about it but I didn't pay Lloyds credit card a penny after dropping them from the dmp and it finally went to a DCA and I now pay £20pm until I get myself in a postion where i can afford to pay more and at least the £20 will go towards paying the total debt rather than the interest only.

 

Hi

 

Very strange approach by Payplan in my opinion.

 

I thought this profit making organisation were supposed to be supported by creditors including Lloyds TSB.

 

Its got me scratching my head on the accepted debt management plan procedure.

 

Maybe something is happening within Lloyds TSB as I have seen on another forum that Lloyds TSB may be pulling accounts for those in IVAs.

 

Payplan also administer a fair few IVAs so I wonder if Lloyds are taking the same approach with their IVA clients?

 

Some people I know have mentioned PPI claims.

 

Im not sure whats going on but it will all come out in the wash though, things always do.

 

I believe there is a poster on here from Payplan, maybe they could fill us in a little, thats of course, if they are still active on here.

 

Anyway, Akasha8uk, sincere best wishes

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Hi Wintry, yes I have heard that too but Lloyds were being very pig headed when it came to trying to come to an amicable financial arrangement which is very funny as I have since left Payplan to arrange my own Debt Management Plan and Lloyds accepted the £20 offer instantly.I must say though apart from the Credit Card issues I had no problem with Payplan, they were very supportive throughout especially my case worker. I decided to leave Payplan because my confidence grew in dealing with creditors and I must say i have managed to get much better payment plans than Payplan. But Payplan were there to get the debt paid off as quick as possible I have decided speed is not an issue I just want lower more manageable repayments.Thank you


Lloyds Credit card - £6K - PPI and interest refunded - £1200 remain F&F sent & accepted £360

Lloyds Overdraft - £620 - charges & interest refunded - £188.10 remain F&F sent & accepted £56

Black Horse loan - £10K - £2879 remain - F&F sent and rejected - CCA sent 3/6/13 deadline

Orange - £128 - £39 remain although CRA file states £11

Orange - £132 - £51.06 remain although CRA file states £45

 

Next stage F&F's to be sent - a step closer to being debt free

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Hi Wintry, yes I have heard that too but Lloyds were being very pig headed when it came to trying to come to an amicable financial arrangement which is very funny as I have since left Payplan to arrange my own Debt Management Plan and Lloyds accepted the £20 offer instantly.I must say though apart from the Credit Card issues I had no problem with Payplan, they were very supportive throughout especially my case worker. I decided to leave Payplan because my confidence grew in dealing with creditors and I must say i have managed to get much better payment plans than Payplan. But Payplan were there to get the debt paid off as quick as possible I have decided speed is not an issue I just want lower more manageable repayments.Thank you

 

Hi Akasha8uk

 

A very fair post indeed.

 

The Lloyds situation is an interesting one, things seem to be a little hush hush at the moment, but as always its just a matter of time before the beans are spilled so to speak.

 

The worry is, will other creditors follow the lead?

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Madeline.geer@lloydsbanking.com

 

Above is the contact no. for a person we dealt with in the head office complaints at Lloyds...we are on dmp and have had probs with Lloyds I wrote to them etc and had no luck finally I got hold of this mail address and sent a mail telling them that I would no longer play letter tennis and they should stop all intrest on the card acc and overdraft account otherwise I would be using the Bcobs or whatever it is .

We stated the dmp and how long we had been in it and that they were not being fair ...payplan were very supportive and backed us up with what we were doing with the letters they sent as well.

 

I suggest you e-mail with a strong letter and tell them what you expect them to do...do not ask Tell !!!!!

 

We got all our intrest back and now have no intrest to pay all they have asked is a 6mth budget sheet which payplaqn do for us :)

Edited by spots1
correcting mail address
  • Confused 1

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Oh my goodness if I got all my interest back that would probably pay off the entire debt on the credit card. Thats great thanks for that!


Lloyds Credit card - £6K - PPI and interest refunded - £1200 remain F&F sent & accepted £360

Lloyds Overdraft - £620 - charges & interest refunded - £188.10 remain F&F sent & accepted £56

Black Horse loan - £10K - £2879 remain - F&F sent and rejected - CCA sent 3/6/13 deadline

Orange - £128 - £39 remain although CRA file states £11

Orange - £132 - £51.06 remain although CRA file states £45

 

Next stage F&F's to be sent - a step closer to being debt free

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Akasha8uk

 

The mail address should not have a gap between banking don`t know why thats happened :) good luck :)

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Thanks Spots1 I have sent an email today. Stating I feel I have been treated unfairly even before the DMP I had a repayment plan with Lloyds themselves but the interest remained the same I calculated during the DMP I payed in £2510 and what happened to the balance? It went up by over £1000 pushing it over the initial limit. I explained at the current repayment of £20pm I will repay the balance in 300months. Thanks again for this, I will let you know how I get on x


Lloyds Credit card - £6K - PPI and interest refunded - £1200 remain F&F sent & accepted £360

Lloyds Overdraft - £620 - charges & interest refunded - £188.10 remain F&F sent & accepted £56

Black Horse loan - £10K - £2879 remain - F&F sent and rejected - CCA sent 3/6/13 deadline

Orange - £128 - £39 remain although CRA file states £11

Orange - £132 - £51.06 remain although CRA file states £45

 

Next stage F&F's to be sent - a step closer to being debt free

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Good luck and do not let them tell you what they will do stick at it ...this is the dept which deals with complaints to the CEO make sure you keep all copies though of your mails ...if you have`nt done so please make sure you ask for a read receipt from your mail so you can tell them that it was read on the receipitents computer:) If this means sending your mail again then do so it`s your postage receipt in a way and you can keep as evidence :)

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Hi Spots1, I sent an email last week but haven't heard anything back yet, am I being impatient? How long did you have to wait till you received a reply? Or is this a good sign and they are looking into my file?


Lloyds Credit card - £6K - PPI and interest refunded - £1200 remain F&F sent & accepted £360

Lloyds Overdraft - £620 - charges & interest refunded - £188.10 remain F&F sent & accepted £56

Black Horse loan - £10K - £2879 remain - F&F sent and rejected - CCA sent 3/6/13 deadline

Orange - £128 - £39 remain although CRA file states £11

Orange - £132 - £51.06 remain although CRA file states £45

 

Next stage F&F's to be sent - a step closer to being debt free

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Hi Akasha, T

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Hi Akasha, they may not reply by mail and I would n`t worry just yet I had postal replies think about 3 weeks after but make sure you send them reminders and get a read reciept to show that it has been seen on their computer :)

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That is one of my reasons for not trusting the likes of CCCS or payplan. However I fully agree that at the time it can be the biggest elief to have someone take the pressure.

If you do not get a satisfactory response to your email I would take it to the Fos and do not take no for an answer. It is clearly in the OFT guidelines on debt collection that they should treat you fairly and they clearly haven't.

 

OFT664 (rev) I think. Does anyone have a link for it?

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I received a reply from Lloyds earlier on in the week stating they were looking into it......so we shall see!


Lloyds Credit card - £6K - PPI and interest refunded - £1200 remain F&F sent & accepted £360

Lloyds Overdraft - £620 - charges & interest refunded - £188.10 remain F&F sent & accepted £56

Black Horse loan - £10K - £2879 remain - F&F sent and rejected - CCA sent 3/6/13 deadline

Orange - £128 - £39 remain although CRA file states £11

Orange - £132 - £51.06 remain although CRA file states £45

 

Next stage F&F's to be sent - a step closer to being debt free

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]

 

Thats good ...was it a heard copy reply or an e-mail reply?

 

Don`t forget to keep at them though every week by e-mail if you have to !!!

 

Good luck

spots1

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Amazing update - I just received a letter from Lloyds stating they are refunding a whopping £4800 from my credit card balance, made up with £100 for stress cause, £500 full refund of all charges, and £4200 worth of interest applied to the account. Spots 1 I cannot thank you enough for the advice given. This has dropped my debt to £1200 which compared to the unmanageable £6000 is just amazing!! I have struggled with this debt for 8 years!!! Thank you so much!

I wonder if it's worth pushing my look with the once £500 overdraft where charges pushed it to nearly £800 owed. Again thank you this website is invaluable!!


Lloyds Credit card - £6K - PPI and interest refunded - £1200 remain F&F sent & accepted £360

Lloyds Overdraft - £620 - charges & interest refunded - £188.10 remain F&F sent & accepted £56

Black Horse loan - £10K - £2879 remain - F&F sent and rejected - CCA sent 3/6/13 deadline

Orange - £128 - £39 remain although CRA file states £11

Orange - £132 - £51.06 remain although CRA file states £45

 

Next stage F&F's to be sent - a step closer to being debt free

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Thats brilliant :) And yes we got overdraft charges back so go ahead do it after all they know they have not been playing fair otherwise why would they have given you what they have back...and glad I have been of help...:) :) keep at them untill you have it all back make sure you check your statements well :) :)

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