Interest Charges And Lloyds Tsb

elsie52

Hi,

I am currently on a DMP and have been paying £333.31 every month to Lloyds Tsb credit card. Sounds good.....but not really as Ltsb are still charging me interest of around £250 per month.....Over the last 9 months I have paid around £3000 off, but in real terms still owe £14,408. Payplan have contacted them several times asking them to freeze or reduce interest, but with no success. I have just rung them myself, and because my account is not overdrawn now, they don't think they will stop interest. Has anyone been successful in getting interest reduced or frozen with Ltsb.?

Leixlip1

Yes, they were one of my first creditors to do so 18 months ago and, touch wood, they have been fine ever since.
I'm doing a self-managed dmp so thought I might run into trouble with them but haven't. Maybe I'm just lucky.

Shoe_Gal

Hi

I had no success freezing interest on a DMP through CCCS and they would only accept reduced payments for 6 months thru CCCS

However, when I started dealing with them directly they were much more helpful - cancelled my DMP with CCCS and am now doing it myself

No problems so far

c7sdus

elsie52 wrote: »

Hi,

I am currently on a DMP and have been paying £333.31 every month to Lloyds Tsb credit card. Sounds good.....but not really as Ltsb are still charging me interest of around £250 per month.....Over the last 9 months I have paid around £3000 off, but in real terms still owe £14,408. Payplan have contacted them several times asking them to freeze or reduce interest, but with no success. I have just rung them myself, and because my account is not overdrawn now, they don't think they will stop interest. Has anyone been successful in getting interest reduced or frozen with Ltsb.?

I am also paying Lloyds TSB credit cards & loans through DMP with Payplan. They had stopped interest on both credit cards but not on loans. Once my credit card monthly payment to them was more than minimum payment due they started charging interest again. Seems like if you pay too much they start charging interest.
Just from my experiance Lloyds are very very difficult to deal with.