Overdraft removed!

Antmanbrooks

I have a current account with Lloyds TSB. I was in the process of taking them to court over the bank charges and had reached the stage where all I need to do is actually file a small claim. Everything was then put on hold and I still haven't taken them to court but I have sent all the letters to the bank etc...

I know the next step is to actually file the claim, but they have suddenly removed my authorised overdraft. I owe just over £1900 (£1944 to be precise). I've changed bank and opened a Yorkshire Bank account so no longer pay anything into the Lloyds account. This is when their charges took me over my O/D limit and it's then that they removed my authorised O/D.

They claim to have sent me letters, which I haven't received, and now are charging me £20 a day (max 10 charges a month) so effectively £200 a month on top of the normal charges and interest?

What can I do at this point? Can I reclaim these charges too? How am I ever supposed to clear this debt? They have however asked me to speak to a specialised department who can sort out a loan for me and combine my O/D and C/C though I wouldn't pass for the credit unless it's an internal bank thing? Is there any trick they can pull to make the current claim for charges void by accepting their loan suggestion? Any help or advice would be much appreciated.

Thanks.

COOKIEWILLOW

Be careful, I did this last Feb and i am really struggling with repayments. Hopefully someone will come along and advise you.

Antmanbrooks

Bump - anyone have any advice?

lloydstsb123

Check this out and take action!...

To benefit from the waiver in dealing with complaints about bank charges, the banks that are party to the test case must comply with certain conditions to benefit from the waiver.

The conditions can be seen on the FSA web site here

I believe LloydsTSB are not complying with at least one of the conditions and so we should all complain to the FSA and get LloydsTSB to sort themselves out or lose the benefit of the waiver.

On 2/11/07 LloydsTSB increased there unauthorised o/d charge from £30 per incident plus £30 each day the o/d increases to £20 per day to a maximum of 10 charges per month. So if you have an unauthorised o/d that didn't increase Lloyds would have charged £30 wheras since 2/11 that has increased to £200 per month!!!!

This is in breach of condition 13(2) that states:

"Whilst this direction is in force, the firm has agreed with the FSA to have regard to its obligations under the general law and the Banking Code relating to relevant charges complaints. In particular, the firm has agreed with the FSA that it will not:
(a) make materially adverse changes in the level of its unauthorised overdraft charges (or in the ways that it applies such charges to its customers' accounts) which could amount to customer abuse; or..."

Complain to FSA via their consumer helpline 0845 606 1234