Anyone with experience of freezing interest with LLoyds?

thechippy

Lloyds are the most inept idiots to deal with of all time. Ask yourselves why they nearly went bust?

They even manage to put obstacles in your way which "prevents" you from paying them!

As PDD, a strong complaint is required and make sure you formally threaten them with the FOS. I did this and actually got a written apology and compensation.

With regard to freezing interest.
If you are making payments every month for the debt to either remain the same or even increase, then what's the point of making any payment at all? - you'll be paying forever!!

Quite frankly, there are circumstances where you may as well let them litigate and gain a ccj - at least interest stops at that point, bearing in mind your credit file will already be shot.

If it were me, I'd write asking them to freeze all interest and charges and agree a fixed sum to be paid down. Either that, or you'll make no payment at all....:mad:

PixieNOTalot

Hi folks sorry dont post very often but couldnt read and run on this one!

Persistence, persistence, persistence. It took me around a year to get them to listen and stop interest on my loan, overdraft and credit card - all being the largest part of my debt, totalling around 20k :eek:

Lots of letters quoting the banks lending code and threatening OFT and always putting "cc" to CCCS on the bottom of my letters writing how unfair the whole situation was when I was trying to sort my mess out and they werent listening or helping by keep adding interest and charges more than the payments I was making!:mad:

Anyway, a year later they finally stopped interest and refunded all fees and interest since my DMP began....... you could have knocked me down with a feather (I do actually remember crying reading the letter).

It is exhausting when you are feeling at your lowest trying to sort this whole mess out and keep fighting on - but fight you must and you will be rewarded longterm - just never give up. Make a nuisance of yourself. Each time you write you will get a letter in return - make sure you note that persons name on that letter and keep firing them off to them.

I cant promise it will work for you, but persistence definately paid off for me. Also if you are with CCCS talk to them and they may help back you up - they gave me the incentive to write in the first place. Good luck. PN XX

pure_dead_dopey

You can write letters until you're purple, and they can and do ignore you.
They CAN'T ignore the FOS
seemples

Allypops

Response to telephone complaint started the same as previous call i.e because you are paying above the level at which we stop interest we will continue applying it. I said in that case it may be better if I stop paying, they begin litigation and i'll put my offer to the court and in the meantime make a formal written complaint, followed by complaint to FOS. I was warned that stopping interest would have a serious effect on my credit record and will result in the account goint to recovery much earlier. I thought that my invitation to litigate against me might have given a clue that I am beyond the point of worrying about that. I said I shall worry about rebuilding my credit file in the distant future - for now I will settle for reducing my debts!! Anyway, long story short. That particular account is no longer in my DMP and we have come to an interim agreement for a low enough payment for them to freeze interest. My priority for now is to stop the debt increasing any further but the whole situation still seems crazy to me. This episode has also really shaken my confidence in the whole DMP process and I am left feeling really vulnerable in case any of the other creditors start misbehaving or having silly rules! I really hope we can get there in the end but the bulb in the light at the end of the tunnel seems a little dim.

Hey ho, onwards and upwards (well, downwards debt-wise)!

pure_dead_dopey

its a ridiculous situation, get on to the FOS.

beingpositive

having the same problems with Argos card services. Much appreciated if someone let me have an example of the letter they have written to the complaints dept.

many thanks

beingpositive

having same problems with argos. can any one help with letters

Allypops

I still haven't put my complaint in writing after making the potty informal arrangement with Lloyds. However, I believe the national debtline website has a template letter to use when a creditor refuses to freeze interest which may be of use. I think a lot of people make use of their templates even when on a DMP with other advisers. If not whay you're after I'm sure someone else will be along shortly with a draft letter for you - they are a rather helpful bunch on here

give_them_FA

Lloyds used to be a good bank. But in recent years, they have gone from bad to worse. I owed them almost £40,000 between loans, overdraft, and credit card. When my business went under, I never paid them a penny, they sold the debts on, and I have simply ignored all correspondence from a series of DCA's. Nothing paid, no court claims. Way to go? Just a thought.

beingpositive

hi having same problem with argos! can you let me have a copy of your letter without all the personal bits?