Letter from Lloyds re Credit Card

c7sdus

Hi,

hope someone can help. wife received a letter from Lloyds saying ''you have missed payments and your account is in arrears but in order to give you a fresh start we want to bring your account up to date and clear your arrears''

In order to clear the arrears we need to make a change to condition 18.5 of your agreement. It will now read '' We may choose not to enforce our contractual rights against you and make this contractually binding against us by giving you a notice which expressly states that we have chosen to do so under this term of the agreement. In all other cases, if we choose not to exercise rights against you we can still do so later. ''

It goes on to say that if you make your next minimum payment by the your next payment date we will clear the arrears standing on your account.

The payment we are making through our DMP is more than the minimum payment so we will make next minimum payment by next payment date.

I have only recently written them a letter asking for the iterset to be frozen, could this be anything to do with that ?

It does not mention letter requesting interest freeze anywhere in their letter !!

Any advice greatly appreciated

C7

elsie52

Hi,

I am just giving this a bump up so hopefully you will get some replies. I will be watching with interest as Lloyds are our biggest creditor, and we have been on a DMP for over a year now, and are paying them £331 per month, but they are still charging us interest, and do not appear to be willing to stop. I will check back later.

CLAPTON

If you are paying more than the minimum monthly payment then they probably won't freeze interest.

debrag

elsie52 wrote: »

Hi,

I am just giving this a bump up so hopefully you will get some replies. I will be watching with interest as Lloyds are our biggest creditor, and we have been on a DMP for over a year now, and are paying them £331 per month, but they are still charging us interest, and do not appear to be willing to stop. I will check back later.

I get charged interest and been on a DMP since March 2006, you hav to make sure that you are still on a payment plan with them as they only last 6 months at a time and I've found they don't inform you of the fact you are on longer on it.

c7sdus

We have been paying more than min payment for ages, interest was frozen but they started applying again so trying to get them to stop.