Refunds

chris.jones43

This may not be in the right thread...
After completing my loan of 2 years to Lloyds TSB in August/September I was suprised to receive a phone call from them in October to inform me that I had overpaid and that a cheque would be in the post. Upon receipt I gratefully deposited the cheque in to my account (daughters 6th Birthday Present paid for). I have since received a letter claiming that this was a mistake and could I return the money as it should have ben paid to someone else. Can anyone let me know where I stand with this, am I legally obliged to return the money?

zppp

chris.jones43 wrote: »

This may not be in the right thread...
After completing my loan of 2 years to Lloyds TSB in August/September I was suprised to receive a phone call from them in October to inform me that I had overpaid and that a cheque would be in the post. Upon receipt I gratefully deposited the cheque in to my account (daughters 6th Birthday Present paid for). I have since received a letter claiming that this was a mistake and could I return the money as it should have ben paid to someone else. Can anyone let me know where I stand with this, am I legally obliged to return the money?

Yes you are legally obliged to return the funds if they have been paid to you incorrectly.

Apples2

If you HAD overpaid, would you be happy if they told you they weren't obliged to return it to you??

fozmcfc

Depending on the amount they may give you time to pay it back, but I'd be very suprised if you didn't have to pay it back.

If you get awkward they will probably get very heavy and if you bank with them they will probably just take it anyway and if it puts you overdrawn they will start charging you fees.