emlv2000 v lloyds

[emlv2000]

hi any help please?

 

i have 3 lloyds account

 

no1 100 o/d

no2 506 o/d (because of o/d int charge

no 3 106 o/d ("")

 

i pay £5 pwk into the no2 acc to try and keep it below o/d and at the end of mth tfer some into other 2 accs to try and keep them below, however every month the int charges keep taking me back over the limit any help please i can't win. i do not use these accounts other than to pay in off the o/d.

[foolishgirl]

Are the sums due on Nos. 2 & 3 accounts made up solely of interest or do they include charges?

 

If the latter, they can be reclaimed & you should eventually get them refunded although the OFT test case result is still in the pipeline (prob. until later 2009) so everything is stayed until then. However you should put in your claim asap.

[emlv2000]

they are solely o/d interest. they are not bugging me for this to be paid but would like to get the amounts down as not to keep getting int its a circle isnt it oh what fun we have

[foolishgirl]

The only way you're going to get rid of the debt then is by paying a bit more each month - it needs to be more then the interest being charged.

 

If you can't afford any more, I'm afraid you're on the perpetual merry-go-round with the interest racking up your debts unless you communicate with them, give them an I&E & ask them to freeze the interest. There are suitable templates for this here:

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20758-creditors-dcas-letter-templates.html