LLoyds tsb loan

susieanne

I have been doing my own DMP for 2 years now everything going fine all interest stopped . The only problem i had was with Lloyds TSB loans right at the beginning on DMP ,I owe them the most money around £12,000 ,they kept threatening me with court action which was scary . I havent heard from them for 2 years then i get a letter today saying from next month i have to start paying them an extra £40 per month . I think at a push i could afford to pay them an extra £40 but the problem is if i do pay the extra in say another 6 months would they push for more . I do own them alot of money so it is in the back of my mind what if they do take me to court should i simply just pay the extra .

saltnvinegar

Hi SusieAnn

The question really is have your circumstances changed sufficiently for you to pay them back an extra £40/month. If your circumstances haven't then you simply write to them explaining that nothings changed in the last 2 years and therefore you will continue to pay them what you can afford which is the current rate.

They would be very foolish to try to take you to court now after accepting your payments for the last 2 years as that would be deemed unreasonable.

It sounds like they have reviewed your account and are chancing their arm and demanding more money. You are absolutely right that in 6 months time they could demand more.

So the question comes back to what you can afford? Never pay more than this.

Best

SnV

susieanne

thankyou for your advice i am going to write them a letter and tell that my circumstances havent changed which they havent ,it would be pushing my budget by paying an extra £40 .thanks again

happyhaddock_2

Another thought, wouldn't you be favouring Lloyds over your other creditors which is not allowed. hope you get it sorted