Lloyds TSB V Me

TakingControl2009

Hi MSE's,

I have never really taken full control of my finances and looked into all the details until reading through this site and wanting to live debt free. In the past as long as I could eat and pay the rent where the money went didnt really bother me.

I approached my bank Lloyds tsb in November as I was out of work and they put me in touch with their new "department for dealing with those in financial difficulty" AT the time I had an old loan balance £1500 apr 19.9% and a credit card balance £2000. I then found out I had PPI on the card which I didnt even know about I took out the card at 18 some 12 years ago and never understood the terms fully.

The helpfull finincial difficulty dept arranged me a loan of £5200 @7.1%... not quite sure how I thought this was actually a good idea taking on more debt??..this was to cover loan payments and credit card payments whilst the loan was being sorted out. Very stupid I know as I am taking a loan to pay interest on another loan and I had PPI!!

I got a letter yesterday telling me my account charge would go up to £9 I didnt really take notice of this before. I dont need any of the extra services. But what anoys me is that the supposed "finincial difficulty" team who went through my entire finances "do you drive"? answer no so AA cover i had i didnt need. Why when they suggested i give up smoking didnt they suggest downgrading my account?? silly question to which we know the answer making less money isnt the answer to greedy banks.

I have also just gone through all my statements for the last 6 years and added all the charges £4k.... and i had been paying that useless account charge for years too! what a fool..

Well no more Lloyds TSB from now on not a penny more than you are due will you have. Hoping to reclaim charges and get back the mystery PPI on the card.

If not however from now on I vow to take control of my finances and be debt free within two years!!

And as soon as another bank will have me im off! Plus my local Nat west have a coffee machine not sure how finincially savvy that is to base choosing a bank account..