help to stop interest being added by Lloyds TSB

brit-dub

hello

We found ourselves in financial hardship some 24 months ago, due mainly to a large drop in our incomes.

Through using advice on this website and Consumer Credit Counselling Service, we contacted all our debtors, supplied them with income and expenditure sheets to show we had problems, all of our debtors excepted our position and froze any interest and allowed us to make reduced payments.

The only problem was with Lloyds TSB, first of all Lloyds TSB accepted our problem and froze interest for 6 months but after 6 months they started charging interest, we wrote to them many times all of which were sent recorded delivery, they say they never received the letters, even though we have proof they did, I have written again to complain about our treatment and they still won't reply, now our debt is higher than when we started due to interest and costs, we have made a payment every month as per the income & expenditure sheet, they are now selling our debt on to another company.

Now call me cynical but what I think Lloyds TSB are doing is making money out of bad debts, 1st run up enough interest on the debt while taking payment, then once they have made enough through charging interest, they sell that debt so you can't argue any more with the bank.

I believe this to be a common practice in Lloyds TSB and would love to try and prove it to the banking ombudsman, but to do this I need to hear from anyone else who have had any experience of this practice, together we can make a difference.

please please please let's get this practice stamped out.

regards

Steve & Sue