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Lloyds tsb "hardcore interest" charges on business account


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Im new to the forum, so a big hello to everyone here.

 

I was wondering if anyone would be able to give me some advice please:

 

I have been a sole trader for the last 15 years, for the last 7 years I have had a overdraft facility. I have been lucky enough to clear the overdraft now. I am in the process of reclaiming mis-sold business loan insurance that I had on my business loan, however I am now looking into claiming back charges on my business account.

 

Mainly the advice I am looking for is "Can you claim back HARDCORE INTEREST charges". These are on my monthly bank statements and as I was up to my max on my overdraft the charges range from £10-15 a month for about 6 years. I paid hardcore charges in addition to overdraft interest, though I dont even know what it means.

 

Any advice would be great and does anyone know how many years back you can claim?

 

Thanks guys

 

Margaret

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  • 2 months later...

Hi Margaret,

I also have a Lloyds TSB business account and agreed overdraft limit of which I use continually due to the nature of my business. I have queried my "hardcore interest" charges and they explained to me that this interest is charged (in addition to the "authorised debt" interest) when the account had been in overdraft for 6 weeks or more.

 

I would also like to know if this can be claimed back.

Kay

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