The loan center-can anyone help?

[ratbag1970]

I have an 18 year old son who receives £30 a week EMA. Recently he had a £65 payment removed from his Lloyds TSB account by The Loan Company. After spending ages on the phone to his bank they gave him a phone number for TLC's call center. We have had no joy getting any reponse from the company by phone, and having "googled" the company it would seem they are one of those unscrupulous companies that just take funds as they like.

Long and the short of it is, he's now OD at the bank. I am not in a position to aid him financially (which is why he gets EMA). Lloyds are being particularly unhelpful and just insist that we need to call TLC. The bank are just gonna keep piling charges onto the account. He finishes his course in July and obviously his EMA payments will stop. He has dyslexia and slight learning difficulties. I have no idea what to do? Can someone please offer some advice. Thanks in advance.

[MARTIN3030]

Hi,

Can you say whether he has any loans with TLC ?

If so what repayment amounts were agreed ?

Has the money been taken by standing order or DD ?

Have you got online banking for the account ?

[ratbag1970]

Can you say whether he has any loans with TLC ?

If so what repayment amounts were agreed ?

Has the money been taken by standing order or DD ?

Have you got online banking for the account ?

 

As far as he's telling us he's not applied for any loan, he hasn't signed for or agreed to anything and they took the payment from his Debit Card. He does have online banking, but can't remember how to get into his account online or find any of the paperwork relevant.

[MARTIN3030]

Ok.

Then I think he needs to put something in writing to both the Bank and also TLC.

 

The bank needs to be informed that there has no authorisation been given for TLC to be taking any funds from his account.

Demand that they remove any authorisation immediately,as if they continue to allow it,you will be reporting them to the FOS for breaches under the Lending Code.

He can take the letter into his own branch,make sure he gets a receipt signed for it-and keep a copy of the letter.

 

Secondly,a letter needs to be sent to TLC demanding the refund of the £65 and also the £xxx which was taken by the bank in charges as a result of them taking the £65.

 

In any event you should report these to Consumer Direct online.

 

Make it clear that if they fail to refund this,you will be issuing a small claims for it which will incur them costs.

 

Keep a copy of the letter and send it recorded to;

 

Samuel Williams

Veritable Finance Limited

46, Alexandra Street

Southend on Sea Essex SS1 1BJ