dealing with lloyds

funkyfish586

hi all, i have read a few threads on here about lloyds and i know they are hard to deal with so just need some advice. Lloyds have accepted our DMP how ever we are paying them £23.79 a month & they are charging £43.36 in interest & for some reason another £12 late payment charge :mad:

Is there anything i can do about this? as our debt is just going up

DarkConvict

A DMP does not mean they stop charging interest and charges. It is an informal arrangement to pay.
As the payment is below the minimum contractual amount they are allowed to make a £12 late payment charge (because the min payment was made on time) and carry on charging interest.

You will need to ask lloyds to freeze interest and stop charging for a period of time to give you a chance to reduce your level of debt.

funkyfish586

ok i will find a letter on here & write to them. Do i ever sign these letters? or does it not matter now

Thanks for your help x

dancingfairy

All you can really do is write to them and state your case you could also write to their complaints department - they might be a different department and have different rules, keep paying them and hope for the best I think.
Maybe you will eventually have enough to offer a full and final settlement? or maybe they will get bored and pass you to a dca who may be more helpful?
Fingers crossed
df

funkyfish586

Hi again sorry does anyone know where i can get a letter asking them to freeze interest ? i have looked on the search but i cant find it & i know i have seen it thanks
x

katkins2

Hi,

The letters I've sent are from a template on the National Debtline website.

Good Luck;)

thechippy

I've never understood these idiot lenders who won't stop the interest and charges when you are plainly trying to sort yourself out and pay them something.

If the debt is just increasing every month, you might just as well pay them nothing, let it go to court - where the interest then stops....