We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Do you have money worries and a loan or credit card with your bank?
Options
Comments
-
Is it legal for Barclaycard to take from a Barclays account not listed as the DD paying account and withdraw £673. Account in dispute (as of last week) due to fault with them. Money taken with no warning. We are on HBenifit at present so have v little money. Money taken was needed towards paying rent, electrictiy and Council Tax. I borrowed this money from parents and they have taken it before it even cleared into this account.0
-
I had a credit card with Lloyds and they have taken over £1400 by setting-off, sometimes twice in a month leaving me with mortgage arrears as I didn't have enough left to transfer. The account they took the money from was in my name but most of the money belonged to my OH.
I disputed it and the PPI they were taking but they sold the debt on. It's seems like a way of taking the money, causing more charges and ensuring that the debt doesn't become statute barred. Natwest did the same thing and took their loan money despite being informed that we had financial difficulties.
It's appalling that the banks we have a stake in are robbing us blind and going against all the principles of prioritising debts. No wonder they are in trouble and hopefully everyone will move their accounts and vote with their feet to stop them.0 -
Due to our current financial reasons, hubby lost his job before xmas and i care for our son with special needs full time, where benefits are only paid into the account.
Hopefully hubby will be returning to new employment soon, fingers crossed.
We are going with CCCS as from tomorrow our matters are being sorted out, we have 2 unsecured loans with lloyds and now in arrears with the mortgage.
The mortgage is with Chelt and Glos so again within Lloyds TSB.
We explained we needed the money to pay for the mortgage and will be going with CCCS, given them the client ref details, but they did not want to know, and asked if they could cancel both DD on the bank account to stop the loan repayments coming out, so we can arrange to make a token payment, where we would have the money, which was left of the overdraft to pay for the mortgage, but they would not have it, so again a less payment for the mortgage !!!!!!!!!!!!!!!!!!
They were stating the "unsecured loans" were just as important as the mortgage.........:eek:
A new account is a must !!!The one and only "Dizzy Di"
0 -
Move banks now before they know you are going on a DMP. This way you keep control of YOUR moneyhi there
i have just been reading your messages on here and im new to the forum really all i wanted to know is me and my husband are looking into a dmp we have two seperate accounts at lloyds tsb his a current account mine just a basic account most of our debt is with lloyds but in my husbands name would the bank offset any money from my account to pay my husbands debts im really concerned as my wages go into this account and we were thinking now as to having his paid in to once the dmp is set up any advice greatly appreciated thanksWow, I got 3 *, when did that happen :j:T:p
It is not illegal to open another persons mail unless you intend to commit fraud - this is frequently incorrectly posted
I live in my head - I find it's safer there:p
0 -
I have a current account with HSBC and a business account. I always kept my business account in good order but occasionally went overdrawn in my current account. Then they started transferring money from business to current - my budget went all to pot, I am currently running at about £200 per month bank charges for both accounts. Things are getting worse by the minute. I have today written to them to close the business account and will have to run everything through one account.0
-
Further update of my earlier posting.... having argued on a daily basis with both the bank and BC and having quoted from the banking code (found on this site) and also using the advice from other members on this forum I am please to report that BC are paying back (in next 24 hours) 1/2 the amount and the bank are paying the other half. All charges placed on both accounts since the setting off occured are being refunded. So thank you everyone for all your advice.....:rotfl::T:j0
-
Just in case this is helpful to others in my situation. I was worried because I had put £3500 into a birmingham midshires account, but owed Halifax £4000. Fortunately I was able to withdraw the cash before they spotted it and used it to offset the Halifax debt. When I called anonymously to enquire about their setting off policy, I was informed that it is their policy to take money from any HBOS account (i.e. an account with any bank in the HBOS group) to offset a debt in any other HBOS account. So be warned. The good news is she also explained that as most of the banks in the group still have separate computer systems, they will not usually have direct access to your details if you are not with their bank. But clearly the overall message is do not risk it, because if they do make the connection, it could (and probably will) prove costly.0
-
Regarding the article and the memo from the BSCB in March 2009 - Patricia Hewit raised this a while back in October 2006 with this letter to Ian Mullen, Chief Exec of the BBA - www.legalbeagles.info/Patricia_Hewitt_letter_direct_payments.pdf
to which she received this response www.legalbeagles.info/BBA_letter_to_Patricia_Hewitt.pdf
Additionally the banks have responsed, March 09, to a query regarding First right of appropriation and offsetting in a non too positive light. Lloyds declined to answer at all.
www.legalbeagles.info/Letters_from_banks.docx
Work in Progress
LegalBeagles0 -
I read your reply in "setting off" charges and wonder if you could give me anymore info. I have never used a forum before so do not know if I am doing this right. Despite agreeing to pay a nominal amount towards my credit card and writing to my bank 5 times without a response, they did the set off thing and took all the money in my account leaving me too without being able to pay my rent or eat!!! However, the bank account is in joint names and my credit card is in my name only, can they still take the money legally, even though my husband;s money is there also?!!!!!
Ellimay0 -
Hi
My husband has a business account in his name only,and we have a joint personal account into which only my salary is paid. The bank have transferred my money into his business account and I now cannot pay the mortgage this month. Is this legal? I thought I had to be a joint holder of the business account for this to happen.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards