please help !

darryl.basham

Hi,
I am a student who opened a 2nd account specifically to use as a student account last year. I opened my account with lloyds and agreed a planned overdraft of £1500. 6 months ago I changed address and today I was passing my old house and thought I would check if I had received any mail.
To my dismay I opened a letter saying that there has been insufficient activity on my account and that I should contact my branch. I then continued to open my letters to find over 20 from lloyds all progressive warnings until one saying that my account is now closed and I owe £1500 and that I am to settle it before it is passed on to a collection agency Of course I didn't receive this last letter and have gone on to receive a letter from a collection agency informing me I have 28 days to pay this or face legal proceedings this letter was dated 23rd January 2013.
What can I do ? I have called lloyds and they just passed me onto the collection agency who just want me to make a payment :S.

Tixy

Hi

I would work out how much you can afford to repay a month - and then write to the debt collection agency to set out your circumstances and how much you can afford to repay. I'd ask them for their bank details so you can set up a standing order to repay it.

Unfortunately there will almost certainly be a default on your credit file - which will make it difficult for you to get further credit for a number of years.

Have you told all your other creditors your new address now?

darryl.basham

I have told everyone now yes, I am so angry because lloyds have my email address and my telephone number yet they made no effort to contact me and just assumed I was ignoring them!

Ilona

The responsibility is yours to tell them your new address, not for them to go looking for you if you haven't answered their letters. Imagine how many people do a disappearing act, they do not have the time to chase them up. You could have had your mail diverted to your new address. I suggest you do as Tixy says.
Ilona