Aaaaaargh!!!!

Just_trying_to_get_sorted

Six years ago I went to Lloyds bank three times, explained my worsening financial situation and that I had a DMP so my budget was very tight and their charges weren't helping. The response I got was that they couldn't give me a overdraft until my account was in credit for six months and perhaps Ishould think about reducing my expenditure. I was a single mother of two boys just trying to keep a roof over our heads! Over time and owing in no small part to Lloyds lack of understanding and my desperation I started taking out payday loans which of course only made things worse!

In November last year I was convicted of Fraud! At my hearing when presented with detailed spreadsheets of my finances concluded that while there was no excuse for my crime he could see no evidence of frivolous expenditure, my situation had not been helped by the organisations I had turned to for help ie my debt management company and my bank which led me to turn to loan companies!

Why am I writing this - so people have a bit of info about my background - not for sympathy or (criticism please).

Two weeks ago using MSE's template and figuring I fitted all the criteria I made a claim to Lloyds bank for just under £4000 of bank charges over six years. They have today made me an offer of £210 and informed me that for £10 month they can assist me in monitoring my account, letting me know when I'm going overdrawn and possibly working towards reducing the costs to me!!!!!!

Footnote - my bank balance this morning is minus £33.75. £28.06 of which is unauthorised overdraft fees. This means that my DD of £43 will not be paid which I'll be charged for next month!!!!

But for £10 a month they can help this not happen!!!!!

It beggars belief it really does :mad:

antrobus

The simple answer would be that your bank is not under any obligation, moral or otherwise, to lend you money just because you need or want it.

dunstonh

Over time and owing in no small part to Lloyds lack of understanding and my desperation I started taking out payday loans which of course only made things worse!

Lloyds did not make the situation worse. You borrowing further money made it worse. Lloyds didnt want to lend you more as they did not think you were a safe bet. That appears to be the correct decision.

Two weeks ago using MSE's template and figuring I fitted all the criteria I made a claim to Lloyds bank for just under £4000 of bank charges over six years. They have today made me an offer of £210 and informed me that for £10 month they can assist me in monitoring my account, letting me know when I'm going overdrawn and possibly working towards reducing the costs to me!!!!!!

There is no requirement for the bank to repay a penny. They look at your request and consider it on the merits of the case and make a decision from there. The only requirement on the bank is that they consider your case fairly.

But for £10 a month they can help this not happen!!!!!

It is normal to pay for services you employ someone to do for you. If I dont want to paint my walls, I pay a decorator. You are asking the bank to do something that you can do yourself. So, it should charge you. If it doesnt charge you, then it would have to charge others.

I know this isnt what you want to hear and its not judgemental. Its just a short response to what you have said.

zxspeccy

The reasons that banks got into trouble in the first place is because they lent irresponsibly, so now it is much harder to get credit from them. Of course it mustn't be forgotten that people also borrowed irresponsibly which didn't help the matter. Banks do not have any obligation to lend to anyone that needs it, only to those people that they believe have the capacity to pay it back. They do however have an obligation to protect the credits funds of their customer, something that is now hopefully happening.

This is why we have the pay day loan companies, which now bridge that lending gap. Of course it could also be argued that pay day loan companies also lend irresponsibly. However the individual loan amounts they deal with are usually a lot smaller and the interest is massively higher, therefore they can absorbed any bad debts.

I am not entirely sure in what way you have committed fraud though.

-taff

I would go over to the debt free wannabe board and ask for help there.