Help with Lloyds overdraft account

[Never-In-Doubt]

Re: Help with lyods overdraft account

Well if they are not going to help and come to an arrangement so this debt can be reduced it would be better to default and deal with a DCA............in my opinion and hopefully Niddy can shed some light on what to do next.

Thank you susie.

Hiya

Sorry just seen this..... I can't offer anything other than what others have said; Lloyds will never back down, well rarely unless you really fight but then again does the kid want a default at this age in life?

I would write in and use our templates as a base for cessation of interest..

See here: ---> Templates - General Debt

[transformer999]

Re: Help with Lloyds overdraft account

Thanks all, strangely enough he had a call yesterday from lloyds and they said that they would agree to freeze charges & interest............bloody hell they have not even received the letter yet lol....

I will update when I find out more and thanks again all

[Bailiffmuncher]

Re: Help with Lloyds overdraft account

I'm pleased you've got a good result. For future refrence the Lending Code has a section on Financial Difficulties (either page 72 or 76 off the top of my head) which can be used effectively against the banks in this sort of situation.

[transformer999]

Re: Help with Lloyds overdraft account

Thanks bailiffmuncher.............if you don't mind me saying your avatar is really nasty........lol

[Never-In-Doubt]

Re: Help with Lloyds overdraft account

I'm pleased you've got a good result. For future refrence the Lending Code has a section on Financial Difficulties (either page 72 or 76 off the top of my head) which can be used effectively against the banks in this sort of situation.

That'll be s.9 - as detailed here: ---> Financial Hardship - s9 Lending Code

[Bailiffmuncher]

Re: Help with Lloyds overdraft account

That's the bit. It nearly always trips banks up as they're all signed up to it, but never follow this particular section.

[transformer999]

Re: Help with Lloyds overdraft account

Ohhhh...just seen how long ago I posted on this thread...anyways little update.

My Friends son has received today a letter from SCM solicitors requesting thyat payment be made in full within 14 days or they may commence legal proceedings.

They also state that if he is unable to pay off the balance in full which currently stands at £1,522.07 then he should contact them and make a proposal so that they can discuss matters.

I have not got a clue what to respond with....and was hoping if anyone knew what to do please? what response should he give?