Help with Lloyds loan and DMP

debtdawg

One of my creditors on my DMP is Lloyds, who I have a loan and credit card with. The original loan amount was £3000 and was taken out in May 2012 to consolidate other cards, before we realised this was fruitless and ended up on a DMP in November 2012. Since May 2012 I have made over £1000 of payments to them, but the balance today stands at £2630. My monthly DMP payments are £47.01 (original payments were £126.90), but they are now adding more than this in interest as the past few months my total owed has risen from £2517 in July to £2630 now, an increase of over £100 despite me paying £282 to them.

I sent a letter a few months ago asking them to reconsider charging interest as I am on a DMP to no avail. As I am now having the money I am paying swallowed up in interest charges plus more, I think that I need to start asking again and also escalate this if need be. Stepchange have not responded to my email asking for help with this matter and the general consensus is that they are rubbish at negotiating with creditors who behave in this manner, although good at managing normal DMPs with creditors who are helpful.

I haven't put this in the DMP support thread as I would like to keep track of this course of action on it's own and also have something to refer back to.

Please could somebody link to the initial letter and also help me with addresses so I can make sure that this gets to the right department? I've had a letter at the end of December from SCM regarding the loan and threatening legal action, although I understand that they are part of Lloyds and also unlikely to be able to do anything if I am making regular payments to them, which I am.

Growurown

Hi DD
Post 2285 from TTFTM on this page has a letter asking to stop charges/interest.

https://forums.moneysavingexpert.com/discussion/4437925

You can call the Financial Ombudsman as well to put in a complaint. Their telephone no. is 0800 023 4567

debtdawg

I will get the letter sent off again ASAP, any ideas which is the best address to send it to?

Growurown

debtdawg wrote: »

I will get the letter sent off again ASAP, any ideas which is the best address to send it to?

Sorry no I haven't as I haven't any debts with LLoyds. Could you call them or SCM to find out? I think I just used the address on the back of the bills in the past in the hopes it would get to the right place.

debtdawg

I'll dig out my file and see what addresses they've been writing from, I was just being lazy and not wanting to go through that mountain