O/d Freezing Interest

danielleindebt

hi im new here and i want to sort my debts out. i have a question

i have an overdraft of 6k that is at its limit. i use this account for everything i also have a joint account at lloyds too.

if i set up a new account (elsewhere) and used that and asked lloyds to freeze the interest on the overdraft and started paying that off. would they seize my joint account too?

i have a 6k overdraft with lloyds
i have a 10k loan with n/rock
i have a 1k loan with a/l

i earn 1k a month

artic_fox_2

hiya and welcome to this site

i do believe that they would certainly take the money they wanted from your joint account if its not in your single account i think its in the terms and conditions that they can do that

if you have a read of southerscousers stickt thread at the top and put up an SOA we might be able to help you 'find' some money to help put towards your debts

hope it all works out for you and that you get the advise you need from here

Crown

Hi and Welcome,

I was in the same type of situation last August with the Halifax. The Halifax "raided" all of my accounts I had with them and left me with nothing.

I would say that the best thing to do would be to open a new Account with a bank that is unrelated to anyone you have a current debts with and transfer ALL your transactions to it ASAP.

The Bank do not need you to inform them that you are in trouble as they can and will just take you overdraft facility away. I was given 1 week to repay my overdraft of 6k what of course was impossible.

As already mentioned please post upa a Full SOA with the interest rates and your outgoings. I presume you pay rent, eat and clothe yourself so the 1k a month you earn isnt coming all of the debt.

Look forward to your reply,

danielleindebt

i earn 1k a month
i get 100 a month child benifit in total

i pay 550 into the joint account to cover mortgage c.tax etc
i pay 40 petrol
i pay 150 on food


then debts
£176 - on the 10k loan 5years (8.7%)
£111 - on the 2k loan (now 1k left and 1yr) 17.9%
then whatever they charge me for the 6 k o.draft £130 this month