LLoyds Overdraft - HELP

mehrtens

For some reason LLoyds gave me an £1285 overdraft just before Christmas, this was not asked for or applied for. I called them to have it taken away to be told that they could speak with me as my account had been passed to collections - this is despite being in credit. Called the collections department who admitted it was their error and that n 7 working days the overdraft would be gone and my account passed back to branch. This wasn't done so I called again a fortnight later and got the same reply.

Three months on and I'm living in this overdraft now and yesterday Lloyds have taken it away - this basically means I will have no money until the end of May as it wil take till then to get out of Lloyds debt, on top of that I'm accruing charges as they are not classing in as an unauthorised overdraft and it also means I can pay for things like my car, board and food.

I know they can do this but do they have any obligation to put it back and come to a repayment agreement, otherwise I'm in serious financial difficulty.

I have to call them at 8 so if anyone is online that can help I would be very grateful.

Kavanne

How come you've had to use it if you kept asking it to be taken away? (just trying to get some more info before making a proper reply)

mehrtens

Car failed it's MOT big style and I need it as I don't work near home and I can't afford to trade it in yet.

Have spoken to the bank this morning and they've given me it back with a repayment agreement set up on the account.

Panic over.

Cash_Flow

mehrtens wrote: »

Car failed it's MOT big style and I need it as I don't work near home and I can't afford to trade it in yet.

Have spoken to the bank this morning and they've given me it back with a repayment agreement set up on the account.

Panic over.

Panic Over?

Is your O/D listed on your credit file? i

If the answer is yes then it is quite likely Lloyds will update your credit file with an arrangement to pay marker, unfortunatly this adverse informaton is somewhat frowned upon by lenders.

I would advise you to contact your bank for clarifacation on whether they intend on sharing your account status with credit reference agencies.

mehrtens

I think it is on my credit file, reason being is that I have never ever had a credit card - I use my Mothers so to start building a 'credit history' for myself I applied and got one of those Capital One cards with a 35% APR, it only gets used to the tune of £40 at the very most per month and is always paid off each time. Recently they put my limit up from £200 to £500, I took this as a sign that my credit rating is going up, however, last night I applied for a normal rate visa and was rejected!!!!! It must be that because everything else is paid as it should be and always in full.

love_the_messenger

mehrtens wrote: »

I think it is on my credit file, reason being is that I have never ever had a credit card - I use my Mothers so to start building a 'credit history' for myself I applied and got one of those Capital One cards with a 35% APR, it only gets used to the tune of £40 at the very most per month and is always paid off each time. Recently they put my limit up from £200 to £500, I took this as a sign that my credit rating is going up, however, last night I applied for a normal rate visa and was rejected!!!!! It must be that because everything else is paid as it should be and always in full.

just order copies of your credit file.