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Posted: Wed Sep 17, 2008 1:02 pm
by kal
Hi,
With the rumours rife about HBOS merging with Lloyds - where does that leave say someone like me who has an Account with Lloyds......but Halifax is one of my creditors.
Will this be a problem, or do I need not worry.
k.
Posted: Wed Sep 17, 2008 1:06 pm
by rayb
I do not think you have to worry at all
Posted: Wed Sep 17, 2008 1:13 pm
by Adders
I was jusgt about to post the same I bank with Bank of Scotland and Lloyds is one of my creditors. Can they just close or freeze my account?
Posted: Wed Sep 17, 2008 1:33 pm
by plasticdaft
I dont think the merger would result in them being able to offset funds from one account to the other. May well mean job losses and more people coming on here to talk about debt worries though.
Posted: Wed Sep 17, 2008 2:00 pm
by Adam Davies
Hi
Once in an IVA banks can't offset money owed from between accounts
Regards
Posted: Wed Sep 17, 2008 2:49 pm
by NBNA
Halifax and its cheesy ads with Howard etc, I guess all that chessiness hid something ...and unravelling like a car crash in slow motion...
Posted: Wed Sep 17, 2008 2:55 pm
by kal
Well that's good news - I mean about not losing our money.....not the poor people that may lose their jobs.
Somehow being in an IVA becomes more attractive as this credit crunch continues (as long as we can keep our jobs!).
k.
Posted: Wed Sep 17, 2008 3:03 pm
by Endsmeet
Hi Andy,
Just to confirm that Lloyds TSB can-not 'dip' into my Halifax web saver account then now that I am in an IVA?
Is it true that they can still have the option of closing my account down thou?
I pay my contingency funds into my Halifax account once a month in case of emergencies etc and I would hate it if they could grab it using the right to offset ruling.
Posted: Wed Sep 17, 2008 6:57 pm
by Kazzy E
Andy, recently we have received a bank statement from our pre IVA Lloyds account which had a nil balance. Because hubby didn't pay his loan and it is now in the IVA, they have charged £25.00 for the missed payment, but applied the charge to our old bank account, thus now making us £25.00 overdrawn. This charge was applied in September, the IVA was approved 25/7.
I have sent the details to our case worker and hopefully it is now being dealt with, but is this allowed?
Kazzy x
Posted: Wed Sep 17, 2008 7:11 pm
by MelanieGiles
It will be adjusted Kazzy when your IP comes to declare and pay a first dividend, so nothing to worry about from your end.
Posted: Wed Sep 17, 2008 9:31 pm
by Kazzy E
Thanks Melanie. What can I do about the Lloyds bank account. Will they let me close it? I don't want it, and it is still showing a £250 overdraft. Could Liz write to them to get it closed for us?
Thx
Kazzy x
Posted: Wed Sep 17, 2008 9:53 pm
by MelanieGiles
Liz will deal with this for you - and it will just go away in time.
Posted: Wed Sep 17, 2008 10:00 pm
by Adam Davies
Hi endsmeet
Yes no one can dip into your account,however all banks have the right to close accounts at anytime,although i think they have to give you notice
Regards
Posted: Thu Sep 18, 2008 1:33 am
by Endsmeet
Thanks for confirming that Andy, may change saving accounts anyway just to be on the safe side
Posted: Thu Sep 18, 2008 7:53 am
by janderson
Hi All
My major concern about this merger is around our debts with different companies. If we now find that through this merger LTSB and HBOS are the new owner of the debt where are we with the possible outcome. I foresee the chancce for either a more aggressive approach or unlikely but possible a write off. What are your views.
Thanks
John