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Lloyds TSB help please
Evening all,
Firstly, I apologise if this is in the wrong place - feel free to move if necessary.
My OH has 2 joint accounts with his ex which has been within it's agreed overdraft limits for the past 2 years. OH and his ex had an agreement that this account would not be used, instead they would both pay off a little a month until the overdrafts were cleared and the accounts could be closed.
Today OH received a letter from the collection department stating that BOTH accounts were outside of their authorised limits and that this money needs repaying else it will be handed to an outside agency.
This is the first he knew about the accounts being outside of their authorised limits. My questions are this:
1) Would a letter have gone out to state that the accounts could be passed to collections prior to them being handed over to collections?
2) Should letters regarding joint accounts be sent to both account holders even if they reside at different addresses?
My concern is that Lloyds have only been sending letters to the ex meaning that we have had no chance to rectify the situation prior to it being passed to collections.
Thank you in advance
Firstly, I apologise if this is in the wrong place - feel free to move if necessary.
My OH has 2 joint accounts with his ex which has been within it's agreed overdraft limits for the past 2 years. OH and his ex had an agreement that this account would not be used, instead they would both pay off a little a month until the overdrafts were cleared and the accounts could be closed.
Today OH received a letter from the collection department stating that BOTH accounts were outside of their authorised limits and that this money needs repaying else it will be handed to an outside agency.
This is the first he knew about the accounts being outside of their authorised limits. My questions are this:
1) Would a letter have gone out to state that the accounts could be passed to collections prior to them being handed over to collections?
2) Should letters regarding joint accounts be sent to both account holders even if they reside at different addresses?
My concern is that Lloyds have only been sending letters to the ex meaning that we have had no chance to rectify the situation prior to it being passed to collections.
Thank you in advance
0
Comments
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Generally, letters wouldn't be sent before getting a call from collections, though banks may vary.0
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I think they would - which address is correspondence going to?
Either someone has been withdrawing funds from the account or not paying in.0 -
Or have the overdraft limits been reviewed since neither of them have salaries being paid into them?
As far as I know, banks will write to both parties (they certainly did in my case).
Has he contacted his ex? Was this arrangement part of a formal separation agreement? Has he spoken to the bank to explain? Has he kept to his side of the bargain?
Whatever else happens, get the bank to "freeze" the accounts so that nothing else can be paid out, only paid in!....Practically Perfect in Every Way......:grinheart0 -
IMO a letter would have been sent to Mr and Mrs at the address the bank had for correspondence.
This would also apply to statements.0
This discussion has been closed.
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