Getting Lloyds to Freeze/Stop interest and Charges!!... HELP!

[mbatte]

Hi,

 

I am in a DMP, I have been in it (with PayPlan) for about 4.5 years. I have about 5 CC and a loan with HSBC. All creditors have stopped interest and charges EXCEPT for Lloyds TSB and HSBC.

 

My balances are going down (which is amazing!), but as Lloyds TSB have not frozen my interest I have not made much of a dent in the balance (same as HSBC). I am getting to a stage now where I feel I should stop paying Lloyds and HSBC as I have more than paid back the original debt and they are just ripping me off month after month!.... I have a wedding that I need to be saving for and I would much rather put the money that I am giving Lloyds and HSBC into a savings account!

 

I can't thank my other creditors enough (Mint, MBNA, Barclays etc) who have stopped my interest as I am desperate to pay back the debt I owe!!

 

How do you get Lloyds to stop interest and charges and is there anything I can do???

 

Thank you so much!

[Guest]

dmc should've got the interest stopped for you!

have a look at the Lending Code which says that where there are evidenced financial difficulties cred should be proactive and sympathetic and do concessions such as interest freeze.

loyds seem to be ***** when considering a customers circumstances. despite the fact that they would not be in existence but for the very fact of their customers tax ie the public purse. wonder if they could be challenged under the human rights act re being a 'public authority' as defined. maybe and prob not, unlike northern rock which was also controlled by the govt. but just a thought! they wouldn't be in existence 'but for' public funding!

Edited October 19, 2012 by Ford

[Night Owl]

Lloyds are tough nuts to crack! I have a few threads lying around in the dust somewhere!

 

Write a carefully worded letter (send recorded delivery) or E mail the CEO at Lloyds stating that you are committed to reducing your debts to your creditors through your DMP by making regular payments.

State that all your other creditors have frozen interest charges and that you feel Lloyds's actions to continue charging interest vexatious as it only increases your dept with them.

Have they accepted your payments through Payplan for 4.5 years? then why do they insist on increasing your debt with them when you have made your commitment to reduce it.

Why hasn't your account been transfered to their collections department so that they can set up their imaginary 6 months payment plan?

 

Inform Payplan that you are not happy and that you are writting/e mailing Lloyds.

 

Good luck.

[Guest]

nice one nightowl, right about their imaginary plan!