My first ever claim, for charges dating back 18 years
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mbushatt
Posts: 1 Newbie
Hi everyone,
this may be a rediculous endeavor but I have made a claim nonetheless. Lloyd's have been in touch and have appointed a claim manager. I want to share a few general experiences, to see what you think.
I joined the British Army when I was 17. Whilst in basic training, on the camp, it was common practice to be supported to open a Lloyds TSB bank account. Myself and other recruits filled out our applications on mass. Some time after, whilst withdrawing money from a branch, I was called in for a review. I was offered £40,000 unsecured, a mortgage, credit cards and loans. I took a loan, a credit card and a gold account. Very quickly I was in trouble. I could manage my affairs. I fell hard into debt. I began to struggle with mental health issues. Bank charges for being over drawn made it impossible to get in control. Credit card charges were mounting up. The loan I had with LTSB would be taken from the gold account, whilst over the agreed overdraft and fees upon fees mounted. The army grew concerned. My health declined. LTSB offered a consolidation loan. I accepted but still struggled to cope. High monthly repayments, other commitments such as mobile phone contracts, car insurance, car hpi, meant the charges continued. Another consolidation loan ensued. A breakdown followed, leading to interventions by the Mental Health services. I was discharged and family members negotiated a debt management plan with creditors. I was diagnosed with a Mental Health disorder. It was a difficult period.
That's a very potted history but it'll give you an idea. I've claimed for all charges incurred as a LTSB customer. Very bold, I know, and likely to be unsuccessful. But I am curious as to what other people think. I have learned that this kind of story involving LTSB and armed forces personnel is more common than many may think.
If they reject the claim, I will ask for a list of all charges incurred across products and try to build a case that way.
Please, if you think I'm daft, please at least be polite.
Thanks.
this may be a rediculous endeavor but I have made a claim nonetheless. Lloyd's have been in touch and have appointed a claim manager. I want to share a few general experiences, to see what you think.
I joined the British Army when I was 17. Whilst in basic training, on the camp, it was common practice to be supported to open a Lloyds TSB bank account. Myself and other recruits filled out our applications on mass. Some time after, whilst withdrawing money from a branch, I was called in for a review. I was offered £40,000 unsecured, a mortgage, credit cards and loans. I took a loan, a credit card and a gold account. Very quickly I was in trouble. I could manage my affairs. I fell hard into debt. I began to struggle with mental health issues. Bank charges for being over drawn made it impossible to get in control. Credit card charges were mounting up. The loan I had with LTSB would be taken from the gold account, whilst over the agreed overdraft and fees upon fees mounted. The army grew concerned. My health declined. LTSB offered a consolidation loan. I accepted but still struggled to cope. High monthly repayments, other commitments such as mobile phone contracts, car insurance, car hpi, meant the charges continued. Another consolidation loan ensued. A breakdown followed, leading to interventions by the Mental Health services. I was discharged and family members negotiated a debt management plan with creditors. I was diagnosed with a Mental Health disorder. It was a difficult period.
That's a very potted history but it'll give you an idea. I've claimed for all charges incurred as a LTSB customer. Very bold, I know, and likely to be unsuccessful. But I am curious as to what other people think. I have learned that this kind of story involving LTSB and armed forces personnel is more common than many may think.
If they reject the claim, I will ask for a list of all charges incurred across products and try to build a case that way.
Please, if you think I'm daft, please at least be polite.
Thanks.
0
Comments
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You're not likely to see them back because the banks won a court case in 2009.
You need to be in current financial hardship and that usually results in six months of charges back, or an interest free period or a suspension of charges for a few months.
You can certainly coomain about any PPI on the loans since the armed forces shou;dn't have been paying any, that's if you had it. You can also complain about the account charge for the Gold account.
Dont hold out any hope for the bank charges themselves [ overdraft fees etc] and you may be pleasanty surprised. Again, you may not.Shampoo? No thanks, I'll have real poo...0 -
I’ll be polite. Yes you are daft if you think you are going to get a refund of 18 years worth of bank charges.0
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Or even 18 MONTHS!safestored4 wrote: »you are daft if you think you are going to get a refund of 18 years worth of bank charges.0 -
Since the banks won the court case in 2009, the days of claiming back unfair bank charges ended. Nowadays, they consider current financial hardship issues or incorrect application of fees.
Banks are sensitive towards mental illness and they will probably look at yours more than they would others. However, do remember that a refund of recent charges is just one option open to them. They could also freeze future charges for x number of months or put you on a debt management plan.
Do remember you are reliant on the goodwill of the bank. So, tone it accordingly and remember that you are not entitled to a penny. You want the person dealing with this on your side and sympathetic to your situation.If they reject the claim, I will ask for a list of all charges incurred across products and try to build a case that way.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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