Do you have money worries and a loan or credit card with your bank?

jolly2spurs

I recently moved my working tax credit/housing benefit money out of my lloyds tsb account as they are now charging me every month nearly a weeks wages in bank charges.

so i moved it to the bank that a had a credit card with that i had fallen behind on payments due to lloyds tsb charging there mad fees.Thinking this money would be safe to use for the rent,but they have noticed this and started taking it putting me behind on my rent.

I thought there was law that says they shouldnt take benefit money.I work fulltime and because of lloyds tsb i could be kicked out of my property as we are now on our second warning for late payment.

barclays started an arangement of £50 a month and stopped all interest on my credit card.which i continue to pay every month and all of a suddden they stopped taking it and stated charging me interest again so all the money i paid off was just put back on in interest.Im so annoyed as there attitude was didnt you think to phone us.when they were taking it by direct debit.

i have spoken to my bank who advised me to take my money out of there bank and offer re-payments,however i do this they can sting :money:me for more daily charges for going overdrawn.every month its there charges that are taking me over and causing further charges.

they also said leave money in to cover the charges,this would be most of my wages,so this is just total madness,but they dont listen

Sorry to detour from the subject but all sort of ties in.

i will be moving my benefits,but these banks are low

comments please,help please...

BeenieCat

This happened to my sister, she received a £650 community care grant to help her move house due to abuse, and Barclaycard swiped the full amount from her Barclays bank account.

When she called them she was told it's not their problem that the money was given to her by the social, and the only way they'd give her it back was if she could prove the the money was for her rent/mortagage only.
She had to fax them a copy of a tenency agreement to prove it was for her rent, although the money was actually for carpets/beds etc.

It's disgraceful.

I_know_my_ABC_and_my_CMYK

LloydsTSB did this to me. i was on a DMP with CCCS for my credit card and my washing machine had broken down so they suggested I send in £200 less that month.. They sent a letter with all the payments explaining why they were receiving less that month but LTSB took the rest of their payment out of my account and then had the nerve to phone me up to ask me why they had taken the money. I put the phone down on him and to this day i haven't given them an explanation. I couldn't actually think of a clean word to say to the guy in the Indian call centre, my language would have been vile had I spoken and as a rule I never swear, but his attitude was very condescending.

rih09

lloyds did this to me they took out £564 from my currrent account and put my account into a £500 overdraft! but when i phoned them the repayed the funds back in to my account.we now have moved to natwest .

Pez2

MSE_Martin wrote: »

To answer some of the questions.

2. Halifax/lloyds. This is still unconfirmed and we're researching it. The key is what is a "legal entity" our assumption is not this couldn't happen, but we're awaiting confirmation on it.

Martin

In a similar vein, I have a Tesco credit card and an RBS current account. As Tesco financial services are run by RBS as far as I'm aware, could my Tesco debt be offset against my RBS account?

Human_remains

:mad: Are you aware that if you work for an instition ie Lloyds for example, You have to have an account with them or you dont get payed, is this not another way of stopping you moving funds to another bank ?? is this legal?

Thornfield

I would have thought it would be very difficult for a credit card company with a card held in one name,to ''set off'' the defaulted payment against a joint bank account with the same provider.
I am not clear about the situation if a direct debit was in place.

notomonkeys

I am with the Clydesdale bank.
After a recent ' review' of my current account they decided to withdraw my overdraft facility. Effectively leaving me with a static debt. I went into the branch and made a verbal agreement to make a reasonable payment each month to clear this debt, unfortunately last month was full of money woes and i couldn't make a payment. i then went in and explained what had happened and that i'd make a larger payment this month. last week they sent me a later saying they would take money from my other account which is regularly in credit to clear off the whole overdraft, if i did not contact them. I found this attitude appalling especially considering the way my overdraft was withdrawn previously with virtually no warning. and that i had only missed 1 payment.
Is this a normal response from this bank?:mad:

Sunnie2812

Newbie06 wrote: »

This happened to me last week as well.. I then tried to open a bank account with coop, but when talking to them on the telephone it has gone to "referrred" status and they said they would let me know if my application was succesfull - so far have heard nothing.... I have lots of missed payments so my credit file isn't looking too good..

What would be a good bank/b.society to apply to to avoid this happening again next month? does anyone know?

Try Barclays Cash Card Account.

My application was processed and Debit card received all within 10 days

bluedawng

The 1st Right of Apropriation

The above is a right whereby if the bank takes money from an account using the Offset Law that is for your basic living needs i.e Mortgage, Rent, Amenity bills and Food you can demand they return this otherwise you will be in dire financial difficulties.

Beware - it is still at the banks discretion whether they agree to refund the monies, however 9 times out of 10 they will.

I would suggest you set up a new bank account in the 1st instance of a potential issue and get all your wages and bils/direct debits transfered across, this is the simplest fix. If you have a debt with a bank my advice would be to try and set a reasonable and affordable payment arrangement with the bank in question and stick to it!! Do not let them try and get you onto a consolidation or managed loan though as this will cost you more in the long run!

I am an account manager for a debt management company and deal with banks, bailiff's and an aray of creditors on a daily basis, there are many rules and laws that these companies(for want of a better word!!) do not want you the consumer to know about. The 1st Right of Apropriation is one of them.

Banks also cannot charge you for an overdraft if it was a charge from them that put you in it in the first place, if this happens please write a formal letter of complaint to: The Bank Manager, The Office of Fair Trading and also the Banking Ombudman.

Let us not let the banks or other creditors get away with stealing our money any longer, they have gotten themselves and the country in a big mess and are trying to get money back (even though we've already bailed them out!) by pulling this stunt too many times and blatantly overcharging their clients. We cannot let this continue so hit them back with your rights.

Good Luck to all and Power to the Little People xx:A