We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
I "owe" Lloyds £270 after going 4p overdrawn... help!
alannadrama
Posts: 53 Forumite
Hello,
I had a Lloyds bank account when I was a student (it wasn't a student overdraft account though, just normal current account) and I stopped using it once I finished university.
Foolishly, I didn't close it down, but I always thought it was best to have it there, "just in case". Anyway, it was registered at my mums address and I moved out in 2009, the same year I finished using this bank account.
Fast forward 5 years and I started receiving debt collection letters at my new home up North from a company saying I owe Lloyds £270. I asked for proof and Lloyds came up with old bank statements which shows they repeatedly stuck bank charges on my account because I went 4p overdrawn. I had no idea!
I don't want this hanging over my head but similarly, I think it's really out of order that i have to pay £270 over 4p. Have you any advice?
Thanks
I had a Lloyds bank account when I was a student (it wasn't a student overdraft account though, just normal current account) and I stopped using it once I finished university.
Foolishly, I didn't close it down, but I always thought it was best to have it there, "just in case". Anyway, it was registered at my mums address and I moved out in 2009, the same year I finished using this bank account.
Fast forward 5 years and I started receiving debt collection letters at my new home up North from a company saying I owe Lloyds £270. I asked for proof and Lloyds came up with old bank statements which shows they repeatedly stuck bank charges on my account because I went 4p overdrawn. I had no idea!
I don't want this hanging over my head but similarly, I think it's really out of order that i have to pay £270 over 4p. Have you any advice?
Thanks
0
Comments
-
I had no idea!
What did your mum do with your bank statements?
Ask Lloyds nicely via their complaints department and put your case to them by showing them that it was just 4p at the start and the rest is charges and interest. Maybe make them an offer to see if they will accept it.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
If you are confident about your facts then contact the press (just up Mail on Line's street) and name and shame.
Alternatively send an email to the CEO of the bank and copy in 2 or 3 newspapers.
Don't give in to this extortion0 -
This happened to my partner over a £1 or something, - get it sorted call them, it nearly cost us our mortgage! (Infact it cost us a low interest mortgage -.-)People don't know what they want until you show them.0
-
You are joking, dunstonh?Ask Lloyds nicely via their complaints department and put your case to them by showing them that it was just 4p at the start and the rest is charges and interest. Maybe make them an offer to see if they will accept it.
If this was just 4p and the rest is charges then the OP can forget the asking nicely bit, can't he/she ?From the late great Tommy Cooper: "He said 'I'm going to chop off the bottom of one of your trouser legs and put it in a library.' I thought 'That's a turn-up for the books.' "0 -
TurnUpForTheBooks wrote: »You are joking, dunstonh?
If this was just 4p and the rest is charges then the OP can forget the asking nicely bit, can't he/she ?
The OP was at fault here, not the bank. They failed to let Lloyds know that they had moved. Their Mum, for some unknown reason, failed to pass on letters from Lloyds. There would have been letters about the charges long before it got to the £270 stage.
What are they supposed to do when people don't respond to letters ? Just forget about them ?0 -
TurnUpForTheBooks wrote: »You are joking, dunstonh?
If this was just 4p and the rest is charges then the OP can forget the asking nicely bit, can't he/she ?
You'd think so.
Nationwide halved what my partner owned he ended up paying around £90 for a £1 debt, personally I would of argued but end day you should always open your statements as tempting as it is to chuck them in the bin.People don't know what they want until you show them.0 -
You mention overdrawn accounts in another post, is this in addition to those? The bank may be helpful if this is a one off event - is that the case?0
-
I'd be looking at my Credit File before settling anything - the Credit File destruction may already have taken place.0
-
I would query the amount charged. You have to be charged fairly. Clearly you have not been.Paid off the last of my unsecured debts in 2016. Then saved up and bought a property. Current aim is to pay off my mortgage as early as possible. Currently over paying every month. Mortgage due to be paid off in 2036 hoping to get it paid off much earlier. Set up my own bespoke spreadsheet to manage my money.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards