Lloyds TSB Historical bank charges

scoey1001

Hi all,

I had a Lloyds tsb current account which i defaulted on in 2012 when i lost my job. It all started when i used a payday loan which sent me £300 in arrears. This then spiralled and the bank charges etc. that were added left the total debt at £1100.

I have spoken to Lloyds recently after trying to get my finances in order with a view to getting a mortgage. They say they will ring the debt recovery company who bought the debt and ask them to reduce it by £100.

What are the chances of me trying to reclaim anything through the financial ombudsman route now (almost 5 years later).

I am not in financial hardship now but was at the time and this has caused me problems down the line. I admit it was my fault using payday lenders etc. feel the charges applied were way excessive.

Any advice much appreciated.

dunstonh

What are the chances of me trying to reclaim anything through the financial ombudsman route now (almost 5 years later).

Close to zero.

The FOS no longer takes on complaints about unfair bank charges. It only looks at incorrect charges or current hardship cases. Even with current hardship cases, it cant force the bank to refund anything. It just has to make sure they have considered your situation fairly. Historical cases are at total discretion of the bank.

I am not in financial hardship now

And that is the block for it. £100 is not a bad result.

I admit it was my fault using payday lenders etc. feel the charges applied were way excessive.

As you defaulted, the charges were probably about right given the risk.