lloyds tsb credit cards etc

georgieb_2

hi me again!

I have a lloyds tsb card with 10k on it, i am just about to start writing to say i cant make the minimum payments on it for the forseable future and wondered if anyone has any experience of them.
I havent missed payments yet with them but i do have a bank account with 2500 overdraft.
Before i write to them should i open another bank account and transfer all outgoings to it and do as others have said and treat od as another debt ?
basically will lloyds look at my current account and take money out of that is any is in there even if i havent got the funds to pay the min payment to them and other creditors?

sorry for rambling post but need some advise! thanks in advance!

georgie

mcweasel05

I've personally had bad dealings with my Lloyds Credit Card (see where do I go from here thread). I was advised by the charity I use to switch banks as they'll more than likely freeze your outgoings & take what they believe they're owed.
It took them 16 months to acknowledge my financial statement, so I'd advise you send any correspondence by recorded delivery.

Hope this is of some help

waddy80

Ok, don't shout at me but I workfor Lloyds Tsb (this is personal advice not that of a bank employee)
Yes they will take what they want from your current account as long as it is credit. Normally this is after you have missed at least 2 payments.
Try contacting the customer support unit (LTSB). They may be able to freeze the intrest /payments on your card.

rayday2

I have had a lot of dealings with Lloyds they eventually froze interest.

You must before you send the letter set another bank account up that is not connected to Lloyds at all. I have a converted overdraft that is now a debt that i pay monthly on to reduce. They took 7 months to sort this out and I had to make an official complaint.

I would do with what you are intending the letter, have to warn you they send millions of letters that bare no resemblance to anything you have written to them!

Are you doing this letter on your own back, if so hold back and spend a little time on the national debthelpline website they have payment calculators work out budgets and have template letters. Also if Lloyds get awkward you can throw it back in there face that they actually sponsor national debthelpline so why aren't they following there plan?

If you want further help just shout in this topic will keep an eye out for you or PM me also there is a long running DMP support topic and loads of us in there have had dealings with Lloyds!

Arthur_Dent_3

Hi I also work for Black Beauty.

The Bank Has a split identity Credit and debit and they dont talk to each other much and what one does is a mystery to the other.

Any way the credit side have an department called collections whos main job as you can imagine by the title is to collect debt. This is probably the same as with most other lenders. What you need to do is talk to them :eek:. The worst thing you can do is do an ostrich and stick your head in the ground and hope it will all go away.

The collections department can set you up a payment plan to get you out of debt. However this will probably mean that your card will be closed and i wouldnt imagine it will look very good on experian....... but is better than the alternative.

Hope Everything goes well and you manage to get out of debt