Lloyds won't freeze interest - has the FOS helped you?

expert_forum_post

LloydsTSB are possibly the worst creditor I have ever come across.

Looking to negotiate directly with LloydsTSB as one of my creditors for credit card debt; a policy not to assist with reducing interest rate.

After almost 30 minutes on a call running through a financial statement of income and outgoings, I was told to speak to CCCS or Payplan.

Be warned, the member of staff I spoke to the usual call centre robot.

Made it clear that I had negotiated with other creditors based upon my debt management plan. All of them, agreed to work on interest rates.

Their policy is clear; will not, as a matter of bank policy reduce interest rates or enter any negotiation for unsecured debt.

A LloydsTSB for 20 plus years, the customer support unit has no intention of assisting its customers. I was passed to them directly by the credit card department.

After being cut off and having to go through part of the process again, just try and find their direct telephone number!

No where to be seen on the LloydsTSB website. Why?

LloydsTSB Customer Support Unit telephone number: 0800 389 8766

Time_to_face_the_music

expert_forum_post wrote: »

LloydsTSB are possibly the worst creditor I have ever come across.

Their policy is clear; will not, as a matter of bank policy reduce interest rates or enter any negotiation for unsecured debt.

Hi expert_forum_post

Lloyds TSB have actually reduced the interest on my CC, it's my OD that I am having the issues with. They seem to have different rules for different people ... or perhaps just make them up as they go along :mad:

Good luck with getting your issues sorted

pure_dead_dopey

go to the FOS

see above

Time_to_face_the_music

The FOS sent out the letters to Lloyds TSB and M&S on 16th May, I set my calendar for 8 weeks to check when I needed to write back to them. Have had no communication from Lloyds TSB but have checked my account today to see if CCCS payment has gone through yet and am delighted to see an interest refund of £175.73!

Oh happy day! :j

Now I am waiting for M&S to respond .....

Oh and for OH to contact FOS about NatWest.

Thank you so much for all the help and advice :T

paulmapp8306

Natwest refused to freeze interest on my DMP as well.

They added full interest for 12 months - then reduced it to 2% for another 24 months. At that point they sold the debt on and interest was frozen.

12 months is not uncommon, and while they could bow to the pressure - they have no legal requirement to do so

pure_dead_dopey

go to the FOS, they are meant to help you

this scenario is not helpful

see above

phone them

Bosniavet96

Just revisited this thread. Really pleased to hear that things are progressing with Lloyds-TSB, but not surprised at their intransigence, based my personal experience.
I have a similar issue with Barclaycard, they are charging interest on 2 credit card debts, virtually negating 3 months or more a year of payments from my DMP. I did write some months ago, & basically received a letter saying "Yah Boo Sucks To You" we want to charge you interest & will continue to do so. Do you think I should phone FOS on Monday, or should I write one last time, making the same points as previously, but dropping in mention of the FOS just to see what their reaction is?
Strange how all these financial institutions (some of which received a lot of taxpayer's money to keep afloat, & all of whom have benefitted from a low BoE base rate not passed on to creditors) are willing & able to not only suspend interest but write off huge chunks of the debts of governments such as Greece, but won't give any such concessions to individuals....

Time_to_face_the_music

Bosniavet96 wrote: »

Do you think I should phone FOS on Monday, or should I write one last time, making the same points as previously, but dropping in mention of the FOS just to see what their reaction is?

I think you should phone the FOS first thing Monday morning. Good luck and please let us know how you get on

pure_dead_dopey

I keep saying go to the FOS, it works, its what they are there for, to protect you the consumer from dumpling banks.

Why on earth would anyone not try to get their DMP paid earlier?
Why on Earth would anyone let banks bully you and make your life worse and more difficult?

Phone the FOS!!!!

Bosniavet96

Well, I've just contacted the FOS reference Barclaycard applying interest to my debts, & refusing to suspend it. So, just have to sit back & see what, if anything, happens within the next 8 weeks.......

Oh, on a different note, managed to get a £650.00 debt with Capital One reduced to £425.00 if repaid withing nxt 30 days (I told them I'd send payment once I had their written confirmation).

Now, as I've been up since 4.00pm yesterday, I think I'll head to bed...........