Changes to my ltsb credit card account?

garyv8

I am on a DMP and have been paying an agreed sum to LTSB credit card for 3 years with the interest frozen. Now and without any notice they have changed the agreement by charging interest again, I understand they can do this. My concern is there has been NO written correspondence to date from LTSB this was going to happen. I called customer service to ask why there was no letter to tell me this was happening and was told it must of been lost in the post due to the postal problems!! What postal problems? After pushing some more I was then told they had only sent a letter to the DMP company and to call them. Well the DMP company hadn’t been told or written to either! Is this legal/lawful? What exactly should LTSB have done prior to changing the agreement?

pqrdef

They're just trying it on. With luck, you won't notice, or you'll let it go, or they'll get a review of your circumstances, in their favour.

If your circumstances haven't changed, then they've already agreed that you can't be expected to pay any more. The DMP company should hold them to it.

If you've got other creditors, then by participating in debt management Lloyds have made an implicit gentlemen's agreement with the other creditors not to try to grab more than their share of what you can afford, and they're trying to welsh on that. This can only lead to other creditors making sure they don't lose out, which just defeats the whole process.

garyv8

Thanks for your reply, LTSB havn't changed or asked for more money per month. They have just started charging interest again without telling us. On my wifes the problem is the interest is now more than the payment so the debt will now increase and will never be paid off. We have been in contact with the DMP company and they have sent yet another statement of income/expenditure, just got to wait and see what happens next.
The main thing I want to know is what LTSB should by law have done to inform us of the change?