Help getting no where, trying hard

kel1980

Hi
This is my first post so i`ll try and make a long story short. My husband has managed to set up a sort of debt management plan, he went to a council run advice centre who wrote to the credit card companies ect to reduce his payments which has sort of helped us but our main problem is bank charges last week my husband had £75 of bank charges which resulted in payments being returned which again will result in even more bank charges.My husband is with Lloyds tsb and has a loan with them which he missed the payment for because the bank charges came out instead when he contacted them to try and sort the problem out they told him that they no longer had control of his account and it had been passed on to some company(can`t remember the name).My husbands hours at work have been cut due to the credit crunch and he has tried to explain he could meet his payments without any problems if the bank would stop charging over £100 each month in bank charges.I`m getting really stressed out over it all because at the moment i`m giving more than half of each wage to my husband to cover bank charges and make sure that everything is getting paid what should we do?

Waspeze

Just a thought but if bank charges keep eating away at anything he earns could he not open a basic cash account somewhere with no ties to his creditors and have any money he earns paid into there. That way he is in control of where his money goes?
I found bank charges a vicious spiral and drove me to cashing pre payday cheques etc which just made things worse and incurred more the next month etc etc.

beanielou

Best advice is to open new basic bank account with bank unconnected to any creditors and transfer your [EMAIL="DD@s"]DD's[/EMAIL] ect & get wages & benefits paid in.
HTH

earplugs

http://www.moneymadeclear.fsa.gov.uk/pdfs/bank_accounts.pdf

this is the link to the Financial Services Authority factsheet on basic bank accounts - will tell you the names of the banks that do them and what the accounts are called.

I would just open the bank account with a financial institution that you/your husband have no connection with at the moment and have your wages/benefits paid into this new basic bank account.