New Member - shocked and stressed

[aidenr]

where to start !

 

ive been with Lloyds now for a couple of years and have a relativly good income.

back in september 2005 i was relocated with my employer 280 miles north from my home town.

Prior to Moving i applied for an Overdraft with Lloyds for £500 just to help with the fees on a short term basis as i knew that it would be a struggle. of course the request was declined as i had missed a direct debit once through no fault of my own.

 

Once i moved as predicted, i really struggled went overdrawn (unauthorised) this matter quickly escalated and i starting getting threatning letters and phone calls regarding the balance - at this point charges a plenty.

this then resulted in Lloyds agreeing to give me an "reducing overdraft" of £1100 that would reduce £92 per month. GREAT I THOUGHT (how wrong i was)

every month since, i have still been struggling stemming from when i moved i am being charged on average £160 in charges on top of the £92 that my overdraft reduces.

each month the salary goes in, the overdraft reduces, the bills go out and then the charges go on - OVER MY OVERDRAFT. next month repeat.

i have called lloyds several times asking to adjust the repayment plan beacuse the charges keep sending me over my overdraft and they just say. cancel direct debits. spend less on shopping. IVE TRIED!

 

dont get me wrong, i dont expect the whole cake and the plate. i'm a 26 yr old account manager having to resort to working at ASDA part time to keep afloat. LLoyds are relentless

 

I am a member of Money saving expert and havent been on for a while and just discovered this Forum.

i have read the FAQ's and still feel out of my league.

 

any words of wisdom?

 

Thanks and sorry for the rambling - its the first time that i feel people may be able to relate.

 

Aiden

[dave]

First thing first - work out how much they have taken from you in charges over the past 6 years.

 

If, like most mortals, you don't have 6 years statements (and to be fair we are encouraged to shred info like this these days), then send the DPA letter in the library and get the info from Lloyds.

 

They have a legal obligation to send you a list of all charges.

 

Once you have that, add it all up (use the spreadsheet, but don't include the interest) and send the 14 day 'pay up or else' letter.

 

Then come back and let us know how it evolves.

 

You should get your money back.

 

Sometimes is soul detroying to see just how much has been fleeced off of you over a 6 year period.

[aidenr]

Thanks Dave,

 

like you said its completly soul destroying to think that there is no end to the circle of charges.

 

I have read more threads since my post and beginning to see some light to the problem. allbeit the lights of a court room

[richardc]

Lloyds have not as yet defended a claim in court. However, you must prepare yourself for that eventuality!

 

It's been said before - this is not a get rich quick scheme, you have to put work in understanding the principles and law involved, but there's no reason why you should not succeed.

[Maxie]

Lloyds have not as yet defended a claim in court. However, you must prepare yourself for that eventuality!

 

It's been said before - this is not a get rich quick scheme, you have to put work in understanding the principles and law involved, but there's no reason why you should not succeed.

 

I really like that sentiment. I think that put it all in perspective.

[lancsman]

I was suprised aiden when i read your story it mirrors what nationwide did to me.reducing overdraft then charge after charge when it gets too low.none of us wanted to be in financial dire straights. I think lots like you try to cut down spending,but others put the costs up!taxes council and fuel,food etc.otherwise.

 

Its not like you can approach your employer and demand more money EVERYTIME COSTS GO UP.it all eventually catches up and the Bank shareholders sit like vultures waiting.now,s the time for us to get our own back.

 

Stick to your guns mate we for once are Legally entitled to unfair charges BACK.

[lee6370]

I had/have the same probelm with Lloyds, and what really gets me is they expect you to eat less, your kids to go without, put all other bills to one side, just so you can pay them, and if you don't it's all your own fault.

 

And the sad fact is we do these things because we know and fear that if we don't they will add another £150-£300 to our accounts, and it will just be that much harder next month.

[Kingstuee]

Aiden I think most of us feel out of our league, that's what is so nice about this site, to be able to relate to people in the same boat.

 

I have just sent my DPA letter and believe me I am really nervous. But they should not be alowed to get away with what they do. If we all stick together we will force a change!

 

Brothers unite!

[Tinkerbelle]

Oh! And I would suggest opening another account and having your wages paid into that. At least you'll have control over your own money!

 

Do it now!!!

[mrposh1]

stick with it i am also trying to get my money back £1287 plus interest i've have gone with everything some months while they rob me of large amounts of money the thing that keeps me going apart from this site is the fact that lloyds tsb group made 3 BILLION POUNDS PROFIT! thats profit how much of that is our money they have made from charges

[aidenr]

This topic was closed on 03/07/19.

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