Lloyds TSB £3000 Overdraft

[a5hl3y2k6]

Hi All

Just signed up after watching a documentry on the system and how it has become, and this website amazing was mentioned (well done all!) . im hoping this is going to be interesting

Ok Firstly

I have a 2 x Current Account with Lloyds TSB and One Online Savers Account.

One is in good Standing (i use it for bills which i can transfer over to another bank if required)

The other has a £3000 Overdraft which i am in, i get my salary paid into this account but does not cover the full amount, which incures overdraft charges and a Overdraft Fee of £5.00 its is a planned overdraft.

Im looking on advise on how to get rid of the overdraft i have had it for around 15 months and have paid roughly £1000 in charges so far.

Do i have to just pay it off, and grit my teeth or can i wipe it out and give them the middle finger by using the letter process, can you recommend what i should do and also can i use this thread to keep you updated and hopefully receive some additional support as and when?..

Also the copyright thing sounds interesting, has anyone actually successfully received payment from the bank after receiving more letters after being served with a fee schedule? for use of their copyrighted name? - or does this just frighten them into loosing more than they bargained for?


Cheers for reading, hopefully i will be able to document this experience for other users on the forum.

a5h.

[a5hl3y2k6]

sorry details were not added about my salary. basically if i was to try and pay it off i could afford £60 a month maximum while incurring the £5 fee and roughly £20 in interest which they take monthly. they are telling me would have to save the money in a separate account and then pay it in one big sum and not have the amount reduced monthly.

[zarkie]

i am in the process of ditching an overdraft account.

my reasoning is - how can i owe less than nothing? surely -£1800 doesnt exist just as £0 doesnt exist
while i find theorectical mathematics by banks amusing i dont understand how i can owe something that doesnt exist.

and i will stand in front of a jury and repeat these statements and questions.



i am not playing the silly game now that i have the whole system weighed up.

[a5hl3y2k6]

hi there. thanks for the reply.

i now have access and have printed the documents required in preparation. i am going to get a new bank account can point me in the right direction on this.

And a couple of questions.

. When i open my new account and transfer my bills and income into these accounts do i contact loyyds and tell them i want to close the accounts? or leave them running up overdraft charges untill they contact me.

im asuming if they call me it would be recommended to record this information although i will state i want to comunicate in writing.

Thanks - here goes...

[zarkie]

i have told them the account is no longer required.

returned a cheque book and [cut up] card with the letter.
oh yeah and i also put all rights reserved at top and without prejudice at bottom both in middle of page, signed on right side.


but i each ot his /her technique. If someone had complete disdain for the company they could write asking for all monies owed to be sent immediately by cheque otherwise our business is at an end

then you are stepping out of the society and better put on an iron shirt [dreadzone]

[a5hl3y2k6]

ok. i have opened two new accounts with another bank how should i word my letters to lloyds to cancel the two bank accounts and credit card. should i include the cards cut up and any other cheque books. im starting to get abit worried now. will they refuse to close my account with an outstanding ammount?

does anyone have a template on how to word it,?
thanks

[zarkie]

if you are getting worried, maybe you are moving too quick.

of course it will refuse to close the account.
they will say 'pay the money i lent to you'. 'you owe me x amount'

you had the money, you spent it, you received statements and continued to borrow my money upto the limit.

pay the money back or i will have to take you to court in order to bear the full weight of the law on you/



if you read that and think 'oh yes, i did, i do, mr bank i owe you'
better read up some more about whats going on

[a5hl3y2k6]

Hi cheers for the reply. my only worry is my approach with trying to close the accounts may effect the letter process. i was going to send the cards all choped up with a letter stating i do not require the accounts anymore. and then start the letter process after they have confirmed the two account closures and one with outstanding £3000. thanks

[zarkie]

do what you feel is best. The only thing to hinder the letters can be your own self in posting them.