Lloyds idiots

poppy52

I have been on a DMP with Payplan since last October. I have a huge total debt but luckily I managed to get a really good job in September and so I have a good chunk of income to chuck at creditors. All has been going fine mostly. My biggest creditor is Lloyds - they have written to me twice and phoned several times offering to let me 'refinance' some of my debt to them. They would then let me have back my debit card, cheque books etc (I changed to a basic bank account with the Co-op as soon as I started the plan). The loan period would be over 12 years and would be the same payment as I make Lloyds via Payplan now - my DFD is estimated to be 6 years from now. What do you think? I am very reluctant - you are not supposed to obtain extra credit on a DMP (Lloyds claim it is not a new loan, just refinance) and it would mean having to come off the plan. I then could not afford to pay my other creditors at the minimum repayments and would be back to square 1. I also don't care if I get back my Lloyds accounts anyway - they kept chucking money at me when I was self employed and refused to even answer phone messages as soon as I was struggling. They are being quite threatening about what they will do if I refuse to accept the loan - they say they will attempt to get the debt via 'normal collection' procedures - whatever they mean. Should I be firm with them - when I phone I was get some moron in a call centre who keeps saying the same thing over and over again.

Emmzi

I think you have answered your own question and know what to do :-)

Stick with what you agreed under DMP and don't show preferential treatment to any one creditor.

OberonSH

Have you told Payplan all this? They might have some advice. I would not refinance, as it's spreading the debt again over a longer period. They agreed to your current payments, surely they should be happy with that?!

I think it's wrong that they try and get people into more debt by offering them more finance when they're in a sticky situation. Well done on the job, and keep going!

MCBIRNIE25

Bloody leeching scum bags they are. Please don't refinance, if you do, and your other creditors find out, your DMP can then be cancelled.
Have a word with Oberon and see if there's any room for your Bank Manager under her patio.
MCBIRNIE25

bargainbetty

Definitely don't refinance, and tell playpan that Lloyds are harrassing you. Get them warned off doing it in writing, and point out they accepted the DMP in the first place.

I really hate Lloyds, they are just abysmal.