Lloyds TSB spiralling charges increasing overdraft advice please

[purple25]

Hi there, am a newbie so please forgive if I have posted incorrectly

 

I would really appreciate some advice regarding my situation, which I will explain below

 

My husband lost my job in May and immediately contacted Lloyds TSB to see if they could increase the overdraft at all as we were due to incur bank charges for going over the overdraft the previous month. They agreed to increase to around £600. We were told by the bank, this was not to help us out out, but was to cover the imminent charges and also to cover more charges that were due the following month! We felt we had no choice but to agree and the condition was the overdraft was to be reduced by £24 a month until it was back to the original £200 overdraft.

 

Unfortunately we had trouble with JSA (another story), Husband got a new job, then was laid off again! He now have a new job as of two weeks ago but the account has not had regular income payments since May and with their reductions of the overdraft the account has incurred charges which have been unpaid, plus another reduction and more charges. It now stands that the agreed overdraft is showing as £526.00, but the account is £832.97 overdrawn. It is due to continue to be reduced, but as it is now £306.97 over the overdraft, we are incurring more charges daily.

 

We are having his new wages paid into another account, so Lloyds don't swallow it all up. But I really would like to stop the charges to stop it spiralling out of control and we could begin paying it off.

 

I really don't know where to start with this and any advice would be really appreciated. Can I ask for the account to be frozen and no more charges applied? Can I refuse to pay some of the amount that is their charges?

 

Thank you in advance

[stormski]

Hi,

 

Seems they're doing exactly what Halifax did to my girlfriend to you...So they can impose the £5 a day charges..knowing the overdraft charges can't be claimed back.

 

You have another account...( make sure it is not linked to Lloyds in any way ) so they can't offset...

 

Send an official complaint...recorded delivery.

 

I'm sure others here will have other things to add.

 

Regards,

Stormski

[Bazooka Boo]

Any charges placed on your account CAN be reclaimed, the reason why people don't try is because they believe they have to pay these charges.

 

It is all computer generated, but once you send in a letter demanding the charges be reclaimed then they will manually override the system and rebate the charges to your account.

 

If they fail to give you a rebate, then vote with your feet and take your custom elsewhere.