BIG Lloyds overdraft... What are they likely to do??

[Clare1981]

My husbands blasted overdraft is hanging over our heads, its our last debt and I want it gone but its a biggy.

 

We no longer use lloyds and cant afford to pay into it so the interest charges are just mounting up, its now over its limit and charges are being occured.

 

With natwest they offered us a loan to pay off out O/D which suited us fine. Are Lloyds likely to do this?? We have seriously bad credit but natwest said it didnt matter as it was a different way of doing things... Too tired to try and explain but it made sense at the time!

 

Or will Lloyds just sent it to the collectors?? Who are the collectors?? What are they like?? Will they accept most payment offers!? Im so scared it'll go to them and they'll want more than we can afford.

 

Also whats the situation on claiming bank charges from Lloyds? Robbing ba**tards. They've had thousands from us in charges!!

[jdes26]

Ok...... First check your credit file.....check if they have defaulted you... Lloyds won't offer you a loan if you have bad credit there not interested. Have to tried to get your bank charges back???? I know I know lloyds are the worst but nothing ventured nothing gained.

[2Grumpy]

Don't be scared by the thoughts of what might happen

 

Most likely they will refer this to their collections department (BLS)

 

They will try to get you to fill in an income & expenditure sheet & then pay as much as possible per month.

 

You should resist this, don't return an i&e sheet and only pay whay you can afford, not what they want you to pay. Decide what that amount is in advance. Remember that they will be expecting you to make this payment every month!

 

Add up charges applied & interest applied to the charges. Start off by discussing the charges - try to get them removed.

 

If they are unreasonable or start trying to bully you, insist on continuing in writing only. If they are unwilling to do so, ask them why.

[Clare1981]

Thank you both

 

Lloyds havent defualted us YET but a few other companies have in the last few years So out credit rating is pretty poor....

 

At the moment they are asking we pay what is over our o/d limit which is £700 But ideally we'd like to start to attempt to pay off the whole lot, thing is with £100 being put on in interest alone it just feels impossible