Lloyds TSB - can they do this

BorassicLint

I have entered into a reduced payment plan with the nightmare that calls itself Lloyds TSB and they sent me a letter to confirm that they accepted my offer of £63.50 per month until November, when it will revert back to normal unless I re-apply. The letter also stated that during this time no interest would be added, also no charges would be applied as long as payments were made on time. However, they have charged interest on the last 2 statements and when I rang them to ask about it they just said that the letter was incorrect and it was a mistake. Can they do this when I have it in writing that they will not charge interest? Where do I stand.

Basically it's obvious that their word means nothing so I wonder how they would react if I said the letter I sent them with the offer of payment was also a mistake and was incorrect and I would now only be able to offer £10 per month!

debtman2007

I'm having a similar problem with Aqua. They have put me on a repayment program but every so often start charging me interest and charges. Then call relentessly to chase payment. To which i explain teh situation and they credit all charges back. They do not dispute that im on a program i think they are just incompetent morons

fatbelly

If you have it in writing that no interest or charges would be applied then they should honour that, even if the lettter was sent in error.

I have had a similar case at the CAB and wrote to their third-party contact person, who got the interest removed.

Would it be possible for you to see the CAB (or CCCS or National Debtline)?

BorassicLint

Thanks for the replies, I might first try writing to them although as far as Lloyds are concerned I think they are a law unto themselves. If they still insist the letter was a mistake then I will just deduct the interest they have added from my final balance, out of all my creditors Lloyds are definately the worst to deal with. I might in fact go down the CCA route as my original account was opened with Accucard and Lloyds took them over a few years ago so the chances of them having my CCA are probably nil, that'll teach 'em!

lovelybirchtrees

I have been paying Lloyds £148 per month on a £10,000 loan through a PayPlan DMP. LloydsTSB are adding £85 interest per month to what I owe. When I queried this with them they said because I was paying more than £85 per month they could charge interest. That £85 was their minimum payment. If I was only paying £85 the interest would be nil. Somehow this doesn't make common sense to me. I agree that Lloyds are the most difficult to deal with. And no I can't reduce the payments as PayPlan has told them that the £148 is what I can afford.

BorassicLint

I don't think I have read a positive thing on here about Lloyds, don't they realise how much more difficult they make it for people to deal with when they constantly refuse to accept what you can offer, always trying to get people to pay more and yet when they do accept it it's not worth the paper it's written on because they say it's a mistake. Most of my other debts have now been passed to DCA's I wonder why Lloyds are so reluctant to do the same, instead they just make your life hell with constant phone calls and solicitors (?) letters. There must be a reason why they won't sign them over, apart from the obvious one that they want their money back themselves instead of selling on to a DCA for peanuts