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Help with dormant Lloyds account

mistahbenn
mistahbenn Posts: 6 Forumite
in Budgeting & bank accounts
Hi, new member here. Ive been living abroad for 10 years, and have had a Lloyds account for 35 years... I have an overdraft of 3000 pounds,...I have used the account on and off but not for a while, I tried to use it and had to call them because my CC wouldnt work. They told me the account is in collections and is dormant. Its 2000 in the red, and their stupid new daily overdraft fee is making it redder.

What will happen if I just leave it. Will they come after me? Is it better to just pay it off and close the account? I hate Lloyds bank, they overdraft fees are ridiculous!

Thanks :)
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Comments

  • littleredhen
    littleredhen Posts: 3,357 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    yes I would think they will want their money
    The mind is like a parachute. It doesn’t work unless it’s open.:o

    A winner listens, a loser just waits until it is their turn to talk:)
  • eskbanker
    eskbanker Posts: 40,739 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    mistahbenn wrote: »
    Its 2000 in the red, and their stupid new daily overdraft fee is making it redder.
    New, as in the penny per £7 charge that was introduced over two years ago?
    mistahbenn wrote: »
    I hate Lloyds bank, they overdraft fees are ridiculous!
    How dare they expect something in return for lending you so much of their money for so long....?
  • mistahbenn
    mistahbenn Posts: 6 Forumite
    It was fine before they started charging. But I didnt find out they were until the account was 5k in the red, due to their charges.
  • colsten
    colsten Posts: 17,596 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    Apart from paying back what you owe, now might also be an opportune time to check your credit reference agency records.
  • colsten
    colsten Posts: 17,596 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    mistahbenn wrote: »
    .... Its 2000 in the red
    mistahbenn wrote: »
    But I didnt find out they were until the account was 5k in the red

    Is it £2k or £5K or some other amount?
  • mistahbenn
    mistahbenn Posts: 6 Forumite
    I paid that all off a year ago... now its back to 2k because of the overdraft fees
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    mistahbenn wrote: »
    I paid that all off a year ago... now its back to 2k because of the overdraft fees

    Why do you have need of the account if you've been abroad for 10 years?
  • mistahbenn
    mistahbenn Posts: 6 Forumite
    Just in case I ever moved back.
  • Terry_Towelling
    Terry_Towelling Posts: 2,279 Forumite
    1,000 Posts Second Anniversary Name Dropper
    I don't understand the chain of events here; you tried to use the current account but had to call Lloyds because your Credit Card wouldn't work - please explain because that makes no sense whatsoever.

    You have an overdraft (facility) of £3K but you were £5K overdrawn and paid that all off a year ago, but suddenly there are £2K of overdraft fees - how when you'd paid it all off?

    Are you pulling our collective leg?
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I'm more confused - if the account is in Collections then it has been closed and the overdraft charges would not apply from date of closure.
    Again if in Collections it is no longer a dormant account.
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