I "owe" Lloyds £270 after going 4p overdrawn... help!

alannadrama

Hello,

Thank you for all your replies! With regards to the unopened bank statements, my mum received a phone call a couple of months after the "overdrawn incident" from Lloyds saying they needed to speak to me urgently. At the time, me and my mum weren't speaking and she didn't know where I was living - she told them this.

They then stopped sending letters to her.

It's taken 2.5 years or more for them to find me (and when I say them, I mean the debt company, not Lloyds) and draw my attention to the "debt".

My concern is now this debt is owed to a debt company. They won't be interested in this story, right? Or can I still phone Lloyds direct and ask them to negotiate?

I'm happy to pay for one bank charge (£25) because I did go overdrawn but to be honest, I don't think I should have to pay any more!

TurnUpForTheBooks_2

meer53 wrote: »

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 ?

For 4p YES. Bloody banks and insurance companies soon enough conveniently forget about dormant deposits and start procedures in motion to get their greedy mits on those, sending as few letters as possible for fear of waking the premature dead or missing.

Slapping charges on such inconsequential amounts as the OP has discovered and manufacturing them into odious debt mountains from miniscule molehills might be a daily feature of casino banking but leave it out of retail please.

[Deleted User]

TurnUpForTheBooks wrote: »

For 4p YES. Bloody banks and insurance companies soon enough conveniently forget about dormant deposits and start procedures in motion to get their greedy mits on those, sending as few letters as possible for fear of waking the premature dead or missing.

Slapping charges on such inconsequential amounts as the OP has discovered and manufacturing them into odious debt mountains from miniscule molehills might be a daily feature of casino banking but leave it out of retail please.

Excellent post, as long as the OP has been charged only on the basis of the 4p-not also on other borrowing- I agree it should be written off entirely.

But;
https://forums.moneysavingexpert.com/discussion/comment/62310881#Comment_62310881

TurnUpForTheBooks_2

But;
http://forums.moneysavingexpert.com/...=#post62310881

There's always a But;

Must've been the £270 that helped push alanadrama over the edge I reckon :think:

I am sure she'll confirm soon enough

Aquamania

alannadrama wrote: »

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

Let's rewind 5 years and ask whatever happened to the 5 years worth of statements over that period?

That's before we get to mention that Lloyds offer a £10 buffer. (Not sure when this started, but I'm sure the bank will help you on this fact)

As the bank have now provided you with duplicate statements for this period, perhaps you could post them here so we can take a look to see if there is anything else you may have overlooked that caused the charges?

alannadrama

For those of you referring to my previous posts, I've started paying off all my debts.

I only have one debt with Lloyds, all other debt relates to other things.

The reason I am questioning this debt is because I'm paying them all off now in instalments but the Lloyds one I think is genuinely unfair.

With regards to seeing my bank statements etc, it's not necessary. Lloyds have confirmed they charged me £25 each month over a period of a few months (and added interest) because I went overdrawn on 4p.

Aquamania

alannadrama wrote: »

...With regards to seeing my bank statements etc, it's not necessary. Lloyds have confirmed they charged me £25 each month over a period of a few months (and added interest) because I went overdrawn on 4p.

It would still be nice to see for ourselves though.

But if you can't post images of the statements, we'll fully understand why

If you have the confirmation from Lloyds in writing, perhaps you could post an image of this letter?
If the confirmation wasn't given in writing, then what's to stop them denying the conversation ever took place?

roonaldo

i was under the impression that 4 pence would be ignored and wouldnt even trigger any charges. but this is lloyds.

TurnUpForTheBooks_2

Aquamania wrote: »

It would still be nice to see for ourselves though.

No it wouldn't. "We're" just the man on the internet, not FOS or legal advisers. It would be nice if lay commentators on this thread were able to interpret plain English clarification without bulldozing a bit further and questioning the OP's motives to the nth degree (please!).

alannadrama

Thank you to all those who offered me constructive feedback and advice

I've decided to write to Lloyds, offering them £25.04 (the initial bank charge and overdrawn amount). I'll see what they say after that, no harm in asking!