Lloyds tsb

[honeymonster]

Hi,

First post so here goes!

I have requested my 6 years of statements and have come up with a figure of £1545. I am close to sending a letter requesting the payment of this but on the template letter it has a bit in red that I am not sure about. What does this exactly mean?

Additionally you have entered a default notice against my credit record. This default occurred merely in respect of unlawful charges levied by you or was the result of impecuniosity caused directly by the taking by you of penalty charges which you had applied unlawfully to my account.

 

In addition to full payment of the sum mentioned above, I require that you remove the default entry from the register. Please note that mere correction or amendment to the entry will not be acceptable.

How do I find out about my credit rating?

Interestingly

I recently tried changing a loan I have with another company to lloyds to see if they could offer lower interest. They said they couldnt lower it until I improved my financies. I take it that was assessed on my credit rating.

Shall I include it in my letter?

Thanks in advance

[lucid]

Hi and welcome!

 

Check out Martin Lewis' info on credit ratings:

 

Your Credit Rating: How it works and how to improve it | MoneySavingExpert: Consumer Revenge, Credit Cards, Shopping, Bank Charges, Cheap Flights and more

 

You can get statutory credit reports for £2 or you can sign up for free trial periods with the three main credit reference agencies, but the full details are in the above link.

 

A default is a bad mark to have on your credit file as it shows potential lenders you have fallen behind with payments and are bad at managing money. The part of the letter you refer to only applies to people who have defaults on their credit files that are as a result of bank charegs. The idea being that if it hadn't been for the bank's charges, you would have never been given a default.

 

Unfortunately it isn't always down to things like defaults that you get refused for credit. You can have a low credit rating as a result of no credit history. If you've not had a credit card or similiar products then you won't ahve a lot of activity to show on your credit file.

 

If you're concerned that you may have a default then it's worth checking your credit record. Getting refused for a loan isn't then kind of thing you should add on to your letters for request of repayment.

 

Good luck. Lucid

[honeymonster]

Cheers For that. It has helped me understand that. I didnt get refused a loan they just wouldnt beat the other lenders interest rate.

Cheers

[lucid]

Oh sorry - I obviously misread that. Either way you wouldn't need to incldue it in the prelim.

 

Lucid

[honeymonster]

No problems thank you for the help.

Credit score thing came out well so i dont need to add it.

Cheers

[honeymonster]

When looking through my bank statements I found that I was to be charged a figure £25 i think for overdraft exces fee (Oct 01). On the day they said they were going to take the money they didnt and I cannot find anything on the statements to say did. Could they have deleted it or is it a mistake they made? Should I include it in my figure or keep quiet?

Cheers

[BARTY]

Hi

If it definitely isn't on your statements, I wouldn't claim for it.

Good luck, let us know how you get on.

Barty:)

[honeymonster]

I am trying to work out my interest using the compound sheet v9. I still find it slightly confusing. I have put in my authorised overdraft figure 16.2% into the the bit that says APR a few lines down from name. Is this right?

My £1545 in charges with 8% interest comes to £1784.31 however with the 16.2% the total comes to £2107.40

Can i realisitcaly claim this?

Do I try and add up my extra unauthorised o/d interest as well or is that what that figure (16.2%) is? My unauthorised o/d rate is 29.8%. Very confused. Read many other posts but some seem to go round in circles confusing me further! (I am a bit Thick as well).

 

I am trying to write the letter detailing the charges (first letter after bank statements being received). I am not so sure about this bit:-

What I require

I calculate that you have taken £1,545.00 plus £XXX which you have charged me in overdraft interest for the sum which you have taken. Total £XXXXX .

I enclose a schedule of the charges which I am claiming with this letter

I was under the impression that this letter shouldnt state the interest owed on the cost of the fees. What interest should it be?

Sorry to be a plonker but I am trying.

Thanks

[honeymonster]

Read even more posts and thought they contradicted each other. I take it in relation to above post I claim contractual interest which is 16.2% of £1545= £2107.xx or do I add unauthorised od rate 29.8%? Do I add this in the template LBA on the interest bit?

Help:confused:

[lucid]

Read even more posts and thought they contradicted each other. I take it in relation to above post I claim contractual interest which is 16.2% of £1545= £2107.xx or do I add unauthorised od rate 29.8%? Do I add this in the template LBA on the interest bit?

Help:confused:

 

Hi,

 

Firstly contractual interest isn't something you have to claim, and if you don't understand what it is or your arguments for claiming it then don't even consider including it to your claim. If you are considering it as an option then do a lot of reading up on it and halt your claim until you understand. Contractual interest can be added to your claim in place of statutory (s69 8%) interest, and it is either the authorised or unauthorised overdraft interest rate applied to your account (stated in the T&Cs/contract) of your account. But it's not as simple as claiming for it as an easy way to make extra money, you have to be even more prepared to attend court to argue your case. It may not come to that but it's very important you understand what you are doing and ahve a strong argument

 

I am trying to write the letter detailing the charges (first letter after bank statements being received). I am not so sure about this bit:-

What I require

I calculate that you have taken £1,545.00 plus £XXX which you have charged me in overdraft interest for the sum which you have taken. Total £XXXXX .

I enclose a schedule of the charges which I am claiming with this letter

I was under the impression that this letter shouldnt state the interest owed on the cost of the fees. What interest should it be?

Sorry to be a plonker but I am trying.

Thanks

 

The overdraft interest that the template refers to is interest you have been charged by the bank. We are entitled to reclaim the portion of interest that only exists because of their charges. For example: you got charged £30 and that charge (and only that charge) took you entirely overdrawn and as a result you got charged the unauthorised borrowing interest rate. Because their charge was the only item that took you overdrawn you would be allowed to reclaim all of the interest they charged you. The spreadsheets estimate the portions of interest that took you overdrawn and tell you what you need to reclaim. I see from an earlier post you are using Mindzai's spreadsheet so to work out the interet paid on penalites (overdraft interest) you can reclaim you need to use the right side of the Charges & Interest tab. It tells you how to fill in this aprt on the notes tab.

 

In all seriousness if you are considering contractual please bear in mind that it's a relatively untested area and you need to be confident if you are going to pursue it. If you want to take the time to understand it, that's fine, and don't feel in a rush to proceed with your claim.

 

Good luck. Lucid

[honeymonster]

Sent the prelim off today 12.4.07

[honeymonster]

I have taken out a figure of money from this account in the upper hundreds to help with my house move. I have noticed Lloyds TSB have taken the money out of my acccount and then paid it back in. The code is COR. I am hundreds of pounds up in my account!

What does this mean?

Is it an error or is it something to do with the lba sent recently?

Any ideas?

I have decided not going to acknowledge it until after pay day in just under a week anyway!!

 

[BARTY]

Hi

It'll mean Correction. Maybe they have given you a godwill payment, is it about £750?

Barty:)

[honeymonster]

£875 exactly the same amount I withdraw yesterday

[BARTY]

Looks like a cock-up to me, they will probably take it back out of your account when they realise.

Barty:)

[pipedav]

It happends to me as well, but a slight difference, i went to a ATM to get some money but it didnt work, after two days a went to a other ATM and it didnt work neither, so i realise that my card was broken, and when i check today the statment it shows the amount of money i was willing to get as paid in, and with the code "COR" i dont know whats going on, but thats is deffenatly a good fact.