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Lloyds and Moorcroft help

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Hello, I've read a few forum posts and come across a few bits and pieces of help but nothing concrete. I keep coming across acronyms and not sure what the mean..such as CCA.

 

Basically I've had an overdraft with lloyds tsb. I didn't pay any money into the account for a few months so they lowerd my overdraft limit andadded interest and charges to the balance. When i could finally afford to start paying money back They wouldn't freeze any interest or charges. So any money i would have paid in would have been swolled up anyway. EG:

 

1500 overdraft, limit lowered to 1000 with around £70 a month of charges and interest on the £500 over. I offered to pay back £100 a month untill balance was clear if they stopped charges and interest they declined.

 

£100 pay in on the balance which was around £1700 by this time would bring it down to £1600 but then charges of £70 again...which would mean i was only paying off £30 a month.

 

I refused to pay anything and this incurred a default and the account has been passed on to moorcroft. They have said i can settile the account which is now about 1800 if i pay 80% of the balance which is 1440 but i don't have that kind of lump sum all at once. I can afford the £100 a month through but feel i'll be paying £300 too much ?

 

What's my best course of action here ?

 

thanks in advance !

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Hi , Thanks for the reply.

 

They've been added every month since end of October. So one Oct,Nov and Dec ...then account passed on

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hi ya

 

hit them with a bcobs complaint

 

not on benefits are you?

 

dx


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