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  • FIRST POST
    • Johan Kellar
    • By Johan Kellar 3rd Dec 17, 12:13 AM
    • 4Posts
    • 0Thanks
    Johan Kellar
    Asking bank to freeze account?
    • #1
    • 3rd Dec 17, 12:13 AM
    Asking bank to freeze account? 3rd Dec 17 at 12:13 AM
    I donít know if this is possible (someone mentioned it in a comment on Facebook) but can you ask your bank to freeze your account & arrange repayment of your overdraft?

    Iím with BoS just now and have had a overdraft for years but after having to give up work due to illness, Iím constantly living in it. Now, with their new charges, Iím paying almost double in fees each month and itís not sustainable.

    I saw someone write that if I open a new account, transfer my benefits & direct debits to it, I can ask BoS to freeze my account & let me pay the overdraft with no more interest/fee.

    Is this true? If so, how do I go about this?

    Thanks
Page 1
    • worried jim
    • By worried jim 3rd Dec 17, 12:17 AM
    • 8,758 Posts
    • 13,372 Thanks
    worried jim
    • #2
    • 3rd Dec 17, 12:17 AM
    • #2
    • 3rd Dec 17, 12:17 AM
    Yes it’s true. Open another account that isn’t connected to Lloyds banking group and get everything transfered over. Contact BoS and explain your issue and affordability and see if they can help you. Best of luck!
    "Only two things are infinite-the universe and human stupidity, and I'm not so sure about the universe"
    Albert Einstein
    • jonesMUFCforever
    • By jonesMUFCforever 3rd Dec 17, 1:47 PM
    • 24,251 Posts
    • 11,536 Thanks
    jonesMUFCforever
    • #3
    • 3rd Dec 17, 1:47 PM
    • #3
    • 3rd Dec 17, 1:47 PM
    I would go through one of the debt charities to do this.
    CAB or stepchange can arrange this for you.

    Do you have any other debts?
    What goes around - comes around
    give lots and you will always receive lots
    • fatbelly
    • By fatbelly 3rd Dec 17, 1:56 PM
    • 11,638 Posts
    • 8,774 Thanks
    fatbelly
    • #4
    • 3rd Dec 17, 1:56 PM
    • #4
    • 3rd Dec 17, 1:56 PM
    There's an initial holdingletter here

    https://www.nationaldebtline.org/EW/sampleletters/Pages/Hold-action-on-your-account-%28sole-name%29.aspx
    • JuicyJesus
    • By JuicyJesus 3rd Dec 17, 4:42 PM
    • 3,052 Posts
    • 3,165 Thanks
    JuicyJesus
    • #5
    • 3rd Dec 17, 4:42 PM
    • #5
    • 3rd Dec 17, 4:42 PM
    Yes itís true. Open another account that isnít connected to Lloyds banking group and get everything transfered over. Contact BoS and explain your issue and affordability and see if they can help you. Best of luck!
    Originally posted by worried jim
    I don't think it's true that you can send them a letter to get them to suspend fees and interest with no questions asked.
    urs sinserly,
    ~~joosy jeezus~~
    • fatbelly
    • By fatbelly 3rd Dec 17, 5:21 PM
    • 11,638 Posts
    • 8,774 Thanks
    fatbelly
    • #6
    • 3rd Dec 17, 5:21 PM
    • #6
    • 3rd Dec 17, 5:21 PM
    A requirement to offer breathing space and 'consider' stopping interest an charges for those in financial difficulty is included in the industry codes of practice that cover almost all of the major UK lenders and debt collectors. These include:

    •Credit Services Association code of practice
    •Lending Standard Board lending code
    •FCA rules (CONC 7.3.5)

    The requirements apply mainly to consumer credit debt, such as bank accounts, credit and store cards, personal loans, catalogues and car finance.
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