Caro's Hubby v Lloyds

[mikeymack2002]

Caro:

 

 

I have been very busy with 3 Lloyds accounts over the past year - 15 months all accounts were laced with late fees over limit fees paid for extras just like yours. To date there has been over 47 hours of calls and no end of letters. Out of the 3 my friend got a nice package of over £5k... The accounts were opened in '94 and were one heck of a challenge going through the SAR...

 

 

We finally got a settlement after all this time and eventually they did give in. All arrears were cleared plus a cheque in the post for just over the 5k, total debts with Lloyds were nearly 28k.... I used as much case law as I could find to benefit my friend then simply they paid out. One of the main arguments was that I record everything I can with creditors. this worked for me, in as much every department had a different "thing" to say. once I had compiled my total list of my calls and made it in to a usable MP3 file, I then sent that in....

 

 

Lloyds do keep records of call and make sure that you get your copies from them. Use as much of the complaints system as you can then make sure that you do record all of your calls and I always use RD for sending in any letters I photograph everything stamp receipts letters even the envelope once it has the stamps and RD barcode. Good luck with your fight.

 

 

 

 

Don't forget the CAG magazine round 2 of the PPI is now stewing....

 

 

I guess you have read this then? http://www.bankaccountadvice.co.uk/unfair-and-fair-bank-charges.html

[caro]

Thanks for the input both. The only thing that I can really remember is that we went into Lloyds one Saturday morning and they were very insistent that this was the best package. I think there was already an OD, according to the statements, but poss they'd only allow it to continue with this type of account.

 

 

After about £250 worth of package fees, there was a £1200 loan to clear the OD. I think it could be argued the OD was package charges and other bank charges combined. Something else that I remember is that OH wanted a cheque book, and although it was a facility for this type of 'Select' account, they wouldn't actually let him have one.

 

 

We made it very clear that we didn't want it, and I have a letter from them where they agreed a few months at half price when we complained about it, although I can't see that this actually happened according to the statements.

[mikeymack2002]

A lot of reading for a successful claim I used this site to pull relevant case law the banks struggled to keep up, especially when they know you know what they are up to you may want to read many of the case laws re banking and others from here http://casefinder.co.uk/category/banking/

[caro]

Thanks MM.

[mikeymack2002]

One of the main questions you may be wanting to ask if when the hubby took out the accounts and loans was he advised to seek INDEPENDANT financial advice? Most banks don't actually state this but it is a requirement for them to do so, this needs to be said and done before someone signs on the dotted line. The banks are supposed to get you to sign a document stating that you have been told to seek other advice is there anything like this in your SAR pack?

 

 

This is covered in a link I gave you earlier so you may have added ammunition to fight your corner...

[caro]

As I recall, all they sent in the sar was 6 years statements. I'm sure he wasn't advised to get independent advice. I was with him at the time and remember we were annoyed at having to pay for an account unnecessarily, especially as he didn't want the extras. It must have been to keep the overdraft.

[mikeymack2002]

If it was a conditional loan/account then they did not do their job right. I have a SAR pack from Lloyds and all statements from day one, they have not given you all the information you requested...

 

 

If the person signing him up for the loan/account did so with the intention of making it a conditional sign up this could be to your advantage. You just need to find the proof....

[caro]

How far back was day 1?

 

I guess I should really send another sar but I just happen to have a bit of time at the moment and as I have figures want to crack on.

 

I suppose I could put in a sar and the claim too.

[mikeymack2002]

Good luck caro

[caro]

Caro:

 

 

I have been very busy with 3 Lloyds accounts over the past year - 15 months all accounts were laced with late fees over limit fees paid for extras just like yours. To date there has been over 47 hours of calls and no end of letters. Out of the 3 my friend got a nice package of over £5k... The accounts were opened in '94 and were one heck of a challenge going through the SAR...

 

 

We finally got a settlement after all this time and eventually they did give in. All arrears were cleared plus a cheque in the post for just over the 5k, total debts with Lloyds were nearly 28k.... I used as much case law as I could find to benefit my friend then simply they paid out. One of the main arguments was that I record everything I can with creditors. this worked for me, in as much every department had a different "thing" to say. once I had compiled my total list of my calls and made it in to a usable MP3 file, I then sent that in....

 

 

Lloyds do keep records of call and make sure that you get your copies from them. Use as much of the complaints system as you can then make sure that you do record all of your calls and I always use RD for sending in any letters I photograph everything stamp receipts letters even the envelope once it has the stamps and RD barcode. Good luck with your fight.

 

 

 

 

Don't forget the CAG magazine round 2 of the PPI is now stewing....

 

 

I guess you have read this then? http://www.bankaccountadvice.co.uk/unfair-and-fair-bank-charges.html

 

Revisiting this - again!!

 

MM, do you mean that you managed to claim £33k in total of package fees and associated charges? ie cleared £28k debts and cheque for £5k?

 

How much was packaged fees, and how much charges?

 

What interest rate did you use and was it compounded?

[caro]

Using 29.8% unauthorised overdraft compound interest the calc is shown below. First charge is in 2001 so interest is up to 15 years.

 

 

 

CLAIM CALCULATION

 

Total of Charges £455.00

 

 

Compound Interest £10,066.08

 

 

Total £10,521.08

 

Using the authorised OD rate of 18.8% the total is about £7k less.

 

Is this realistic to get this amount back? I haven't included any bank charges. I realise that it's a higher rate than FOS would allow so it would need to be a court claim, and it would need to be under £10k or it would be outside small claims and subject to costs. I'd use Sempra Metals v HMRC to argue the rate.

 

What do people think?