Lloyds Overdraft change to charges
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I thought Lloyds were going to contact those who were going to lose out as a result of these changes, to see if alternatives were available.
Maybe worth going into your local branch and talking to them.
Actually they are being rather sneaky, you have to tell them you are in financial difficulty first, they say they will then implement the new charges in stages.
But the bottom line from them, and the Halifax (whose charges will be the same) is, and i quote :
"keeping the account open and not paying the new charges, is not an option".I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates wrote: »Actually they are being rather sneaky, you have to tell them you are in financial difficulty first, they say they will then implement the new charges in stages.
But the bottom line from them, and the Halifax (whose charges will be the same) is, and i quote :
"keeping the account open and not paying the new charges, is not an option".
That is a bit low, considering it is a change of T&Cs that if CCA regulated, could be refused. Of course they are not regulated, thus, they can do this, boo.
Considering the comparatively small debt the OP has, I'd suggest trying to find ways to make a few extra £, be it surveys (Look at the 2nd income board here on MSE), or selling items to make a debt in the overdraft.
In debt and looking for help? Look here for the MSE Debt Help Guide.
Also, If you need any free and impartial debt advice, the National Debtline, Stepchange, and the CAB can help.0 -
Another option would be to open a new basic bank accout for everyday use & pay the amount left on the OD back to the bank based on what is left in your SOA.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
I'd personally sell the car and pay off the overdraft, that would give you over £70 a month back in your budget even after bus fares.0
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