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Lloyds TSB - Unauthorised overdraft, help needed.


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Hi,

I am looking for some information on where I stand regarding an unauthorised overdraft.

 

In November last year I took out a short term loan with Wonga in the amount of £420. I then ran in to financial difficulties and knew I would not have sufficient funds in my bank to cover the repayment due to come out. Therefore to avoid making matters even worse I cancelled the direct debit to avoid receiving charges for having insufficient funds to cover the direct debit.

 

I was under the belief that it would then be for me to arrange repayment with Wonga. However, on the repayment date, Lloyds TSB allowed Wonga to debit three sums in total, two in the amount of £10 and one larger for £288.50. As there was nothing in the account at the time the transactions put me £300 in to an unauthorised overdraft. The full amount of the loan was in excess of £450 so the full amount was not allowed to be debited, just enough to put me in to a large unauthorised overdraft and leave the loan unpaid for some reason.

 

I should also note that at the time Lloyds allowed these debits the only income in to the bank was benefits. In addition when I was working I had applied numerous times for an authorised overdraft with Lloyds TSB only to be rejected on each occasion.

I did not want the unauthorised overdraft and it is clear I could not afford it at the time and I had been rejected for an authorised one.

 

I am now receiving letters from solicitors demanding full repayment. Is there anything I can do? Any advice would be greatly appreciated.

 

Thank you.

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If you cancelled the Direct Debit and the bank then allowed payments to be taken, then you are protected under the Direct Debit Guarantee and the bank should refund those payments.

 

You should write to the bank - Official Complaint - Head/Registered office - advise that you cancelled the DD and that they then allowed the payments to go through, under the DD guarantee you are now requesting the monies to be returned to your account and any charges and interest accrued on the unauthorised O/D to be removed.

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Hi,

 

Thanks for the quick reply. I did cancel the direct debit but as the amounts where taken in 3 different sums it looks like they have allowed three card payments. But even so, if there was no money in the account why would they just allow 3 card payments to be taken for over £300.

 

Thanks again.

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I am not sure why they have done this. Did you agree a Continuous payment authority as well as a Direct Debit ?

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Yes, looking over the terms and conditions i agreed with Wonga it appears i have given them continuing authority;

 

"You must give us debit card details for us to collect your repayment and continuous authority to do so. This means that if we cannot collect the money you owe us from 5am on the promise date, we can make further attempts to debit your debit card in order to collect the money, either in one payment or in several amounts, on a continuous basis until the amount you owe is repaid."

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Could this be irresponsible lending, given the £300 unauthorised overdraft on a basic account with no overdraft facility at all. When at the time only benefits where going in the account and i had been rejected for an authorised overdraft numerous times.

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get the money back now

 

We have been telling people to put a letter into their bank instructing them not to make any payments under any circumstances to these companie

http://whatconsumer.co.uk/visa-debit-chargeback/- it works!

 

banks MUST follow written intructions from their customers !

This fsa guide has now been updated:

 

http://www.fsa.gov.uk/pubs/consumer_...ghts_guide.pdf

 

Here's the text:

 

Cancelling a regular

card payment:

 

When you give your credit or debit card details to a company and authorise them to take regular payments from your account,

such as for a gym membership or magazine subscription,

it is known as a ‘recurring transaction’ or ‘continuous payment authority’.

These are often confused with direct debits, but do not offer the same guarantee if the amount or date of the payment changes.

In most cases, regular payments can be cancelled by telling the company taking the payments.

.

However,

you have the right to cancel them directly with your bank or card issuer by telling it that you have stopped permission for the payments.

Your bank or card issuer must then stop them – it has no right to insist that you agree this first with the company taking the payments.

Be aware, though, that you will still be responsible for paying any money that you owe.

.

see: http://www.consumeractiongroup.co.uk/forum/showthread.php?336569-How-to-remove-a-lender-s-continuous-payment-authority(2-Viewing)-nbsp

.

http://www.fsa.gov.uk/pages/consumerinformation/product_news/banking/know_your_rights/solving/index.shtml

dx

 

 

Lloyds have been warned for allowing this to happen already

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thank you dx100uk, i will definitely write to them to avoid further payments being taken. Do you happen to know if i have anything to argue in relation to the payments being taken when i had no money available putting me in an unauthorised overdraft?

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they should refund the money NOW

 

phone them up

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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