Lloyds TSB gave me a loan to pay off my bank charges

[debtsdebtsdebts]

Hi, I'm new to this site and sent my DPA to Lloyds on March 1st - do they have 40working days or just 40 days??

 

More importantly, I wanted to know what you guys think. Last year Lloyds were going to take about £550 out of my account for charges, I called them and after a very stressful convesation about the fact that I could not afford that sort of money in one go they offered me a loan to pay the charges. I took it - it seemed the only option as I didn't want to miss any direct debits etc.... Do I just claim as normal - I think this is irresponsible lending - what do you think

 

P.S I am so petrified about this process, all your help would be great

[Pen]

Hi Debts,

I think its very irresponcible lending but then thats lloyds for you, yes I would claim as normal wait till you have the SAR info see what chargers have been taken then take it from there with the second letter requesting them back have you requested a loan statement in your SAR if not I would ask them for one as you may need it at some point.

 

Good look

Pen

[Guest Niklowe]

Hi debts, and welcome to the CAG

 

If your current account had penalty charges on it then you are entitled to claim them back. I do think that it was a dirty trick to make you take out a loan to cover them.

 

Anyway to cut a long story short, they were penalty charges, which are unlawfull.

 

Therefore have a good look at the FAq's and when you are ready start a new thread in the lloyds section so that you will get good advice from those more advanced than you

 

Have a look through these links

 

http://www.consumeractiongroup.c o....se-read-these/

Example Step-By-Step Instructions

 

-------*** How to make posts ***------- PLEASE DO NOT POST YOUR ACCOUNT NUMBERS

 

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/182-6-interest-calculation-spreadsheets.html

 

Good luck but you won't need it

 

 

If you found it helpful please click my scales (on the left).

Any advice offered is my own opinion and if you are unsure always seek further advice.

__________________

Nik

[maggiemay48]

Hi ths happen to me.I went in to see if we could sort someway of stopping the charges.They said there is nothing they can do,So he asked me to take a loan out. this is the only way out.I have a other two yrs on that loan At the time it was my only option.Second time i asked to see somone.Ayoung girl came out to have a talk with me. i broke down in tears I almost begged her to stop the charges,She said i will have a word with my manager,She came back.Said theres nothing we can do.Then again tried to give me a loan.But i said no.I had to borrow £700 from my mother whom lives on her own.I felt so awfull asking my mother.It made me ill and stressed out all this troble.So now i owe my mother seven hundred,And i am paying a loan off still 2 yrs left.

[Guest Niklowe]

To both of you, claim back the penalty charges and you'll be able to pay your loans off

 

Good Luck

[Pen]

Hi Debts,

You know the same thing has happend to me and many many other so you are not on your own, try not to worry as every last penny they took of you you will get back.

read My thread Pen-v-Lloyds TSB, my case is very complicated but I will get my chargers back and so will you.

 

Maggie: I am so glad you didn't take out the refinance loan if you had have done you still have had 5 yrs

 

Pen

 

If my advice has been helpful please click on my scales thank you

[photoman]

Lots of people in the same boat.

Come and have a look at this thread to learn about what can be done.

 

http://www.consumeractiongroup.co.uk/forum/general/49648-loans-pay-off-overdrafts.html