credit card debt

urinalfresh

Since october 2009 when i thought i was paying off £50 a month on my credit card with the intrest frozen which would almost be clearnow ,but stupidly not looking at the statements when they were sent.I find out today after receiving a letter saying why was i only paying minimum payments that i looked and found out that i only was on this agreement for short term and had then returned to the normal intrest which has risen a lot over the years and still owe £4000.
I have spoken to someone at Lloyds who after a while gave in and passed me to someone who will look into it.
Is it just my fault for not checking my statements or should they have tried to contact me as the card has not been used since 2009.

[Deleted User]

It's your fault. This is why they send statements.

PeacefulWaters

Why would they contact you if they're receiving the minimum payments?

You have been negligent in managing your own affairs. Change this.

CKhalvashi

You've made payments on time, they have no reason to chase this.

CK

chattychappy

I think it depends on what the original agreement was. If it was freezing interest without an end date, then you can argue for the interest to be refunded. Whilst you should have checked statements, that doesn't let them off the hook in respect of interest wrongly applied.

More likely, I suppose, it wasn't an open ended agreement. The suspension was for a limited time or until certain criteria were met and you just didn't notice. You need to check the basis on which they started to apply interest again, though perhaps that's been lost in history.

CKhalvashi

chattychappy wrote: »

I think it depends on what the original agreement was. If it was freezing interest without an end date, then you can argue for the interest to be refunded. Whilst you should have checked statements, that doesn't let them off the hook in respect of interest wrongly applied.

More likely, I suppose, it wasn't an open ended agreement. The suspension was for a limited time or until certain criteria were met and you just didn't notice. You need to check the basis on which they started to apply interest again, though perhaps that's been lost in history.

It would, however, be a limited time agreement.

It may have no fixed end date, but as long as you can meet contractual payments, they're allowed to end the arrangement.

Do you have in writing that this is permenant agreement?