Lloyds TSB - First bank to win Court Case (Overdraft Charges)

[Gamah]

You're an accountant marc? Fuck off.

 

[Marc]

You're an accountant marc? Fuck off.

lol tis true.

 

[tris-]

Even if you arent unemployed and have a low paid job, its still sometimes difficult to organise your finances to make sure you dont go overdrawn

but it shouldnt be upto the bank to just give money left and right to help people.

 

[Chronictank]

Bully for you! What about people who dont have the luxury of being able to put enough away to live off, should they lose their job?

Find cheaper accomodation or reduce they out-goings. For example dont was money on drink/smoking ec etc..

Ahh yes, these insurance policies. Aye, £30 a month (which is what a few people i know got) is really going to make a difference isnt it! Im talking about people working on the bread line here.

There are cheaper ones available, and you can get them adjusted to suite your circumstances. I.e. lower cost, less cover etc etc.
It was just an example of doing something instead of whining and blaming everyone but the real person to blame. And they DO make the difference if you unexpectably or otherwise find yourself unemployed because thats what they are there for if you are for example a contractor.

Neither are the people who go into their overdraft and end up paying £100's in charges. Again, im talking about the people in the bread line, who struggle to make ends meet. These are the people who the banks are ripping off.

Why do they stuggle? because they live beyond their means.

Im sorry, but in my 10 years as a chartered accountant, ive never heard of anyone reclaiming tax back because they are on a lower wage. If they earn less than the personal threshold for tax, they just dont pay tax.

I stand corrected,
I was refering to
How to claim back overpaid National Insurance contributions : Directgov - Money, tax and benefits
but i misread something on there

Im not just talking about the prices of renting etc. Its getting dearer and dearer to live. Most low paid jobs, the payrises reflect the inflation rate, which is BS, meaning people struggle year on year. There are a lot of fixed costs, you have to meet each month, but there are also a hell of a lot of variable costs too, meaning sometimes, its difficult to budget month on month. What about self employed people? Who cannot guarantee their income each year, but still have to meet the same costs. I suppose its their own fault for being self employed eh?

Are you seriously incinuating that you cant predict what you are roughly going to spend and budget accordingly? You got to be pretty dim not too be able to tell roughly how much you spend per year As for self employed, again Insurance to cover for dry periods

Nothing you have mentioned so far is a reason to be in debt to be frank, ti sjust bad management of your finances if you are persistently going into the red

 

[Marc]

but it shouldnt be upto the bank to just give money left and right to help people.

Well why dont they just stop the payment, so the person doesnt go overdrawn?

 

[Chronictank]

Well why dont they just stop the payment, so the person doesnt go overdrawn?

you can choose to have that afaik by aking your overdraft limit 0 or something

 

[Marc]

Chronic, I cba to quote you so bare with me.

With regards to putting money away, how are people already living in the cheapest accomodation they can afford, supposed to get something even cheaper? Please tell me?

As for the insurance policy, the £30 wasnt the price of the policy, it was what they received from the policy when they were out of work (Was with CICA, and after hearing the paltry amount they got, I stopped mine). And anyway, these insurance polices were only for those unable to work due to injury. As for insurance policies for being unemployed, these only cover mortgage payments. Id love to see an insurance policy, that will cover you for the wage you were earning before you came unemployed, for £10 a month!! Even so, how are those on the breadline supposed to be able to pay into these when they struggle as it is.

As for people struggling to make ends meet because they live outside their means. As I said, live in the real world. I know plenty of people who dont spend a penny on any luxuries, yet still struggle.

Yes I am insinuating that sometimes its difficult to predict what you are going to spend. Until you get out from under Mummy and Daddys feet you wont have a clue. Insurance for self employed?? Im talking about shop owners etc, not contractors. If I had a £10 for every self employed person I have dealt with, whos business went from making lots of profit, to making next to nothing, through no fault of their own, I would be a very rich man.

Now chronic, feel free to reply to the other posters saying you havent got a clue.

 

[Marc]

you can choose to have that afaik by aking your overdraft limit 0 or something

My overdraft limit has always been 0. Yet I managed to go overdrawn a few years ago when T-Mobile took my monthly payment out 6 times, which made 4 of them bounce, £120 in charges.

 

[Marc]

Tell you what Chronic, lets just agree to disagree ok? Ive dealt with that many people, who have come to me, asking me to help them sort out their finances and its not always that easy as you think. Im not going to convince you otherwise, so lets not argue ok?

 

[Chronictank]

Tell you what Chronic, lets just agree to disagree ok? Ive dealt with that many people, who have come to me, asking me to help them sort out their finances and its not always that easy as you think. Im not going to convince you otherwise, so lets not argue ok?

deal, i would rep you for the discussion but seems to had too much loving already

 

[Marc]

Although I will say a lot of the time, yet, its down to the individual, take my mate for instance, hes just got back £4,600 including interest, but this WAS because he lived beyond his means.

 

[Case]

Find cheaper accomodation or reduce they out-goings. For example dont was money on drink/smoking ec etc..

You really are so clueless you really beleive this stuff don`t you? Wow the ignorance of some people, still even after 30 years of life astounds me. Not everyone has a disposable income nor are a huge percentage of people going to be eligable for any payout on such insurance regardless of whether you pay into it or not. You need to wake up and realise not everyone is earning plenty of money and just pissing it away cos they cant be bothered to save ^^

 

[Chronictank]

You really are so clueless you really beleive this stuff don`t you? Wow the ignorance of some people, still even after 30 years of life astounds me. Not everyone has a disposable income nor are a huge percentage of people going to be eligable for any payout on such insurance regardless of whether you pay into it or not. You need to wake up and realise not everyone is earning plenty of money and just pissing it away cos they cant be bothered to save ^^

I suggest you go back and read the whole conversation over rather than throwing empty insults like a moron because i cba to re-itterate all of it
Edit:
I didnt at any point say i was talking about people who are "wasting" money, however it is a fact that living with more outgoing than income is not sustainable so certain concessions need to be made to keep in the black.
Single mums living on welfare can survive and stay in the black then i cant see any reason why someone earning (which is inevitably what a single mother gets due to minimum wage, unless Marc or other financy people know otherwise) cant do it as well

 

[Case]

Given that you know very little about anything you might be surpised to hear that with all benefits a single unemployed single mother on full benefits gets just over £17300 per year. Also I'm not throwing insults willy nilly I'm pointing out how clueless you are with your "people with no money are obviously stupid losers who can`t manage their money" arguements.

 

[Marc]

I suggest you go back and read the whole conversation over rather than throwing empty insults like a moron because i cba to re-itterate all of it
Edit:
I didnt at any point say i was talking about people who are "wasting" money, however it is a fact that living with more outgoing than income is not sustainable so certain concessions need to be made to keep in the black.
Single mums living on welfare can survive and stay in the black then i cant see any reason why someone earning (which is inevitably what a single mother gets due to minimum wage, unless Marc or other financy people know otherwise) cant do it as well

Single mums get a hell of a lot to live off and their rent is either paid, or they pay something silly like £40 a week for a 3 bedroomed house. DOnt forget, their benefits arent paid into a bank account, they have to collect it at the post office afaik. Its funny, but a lot of young girls, do actually become sperm buckets in the hope they can get pregnant and not have to work for the next 16 years. When I was at college I used to work at an offy, smack bang in the middle of an extremely rough council estate, and I overheard plenty of conversations between young girls confirming this.

 

[Chronictank]

I'm pointing out how clueless you are with your "people with no money are obviously stupid losers who can`t manage their money" arguements.

I didnt say nor insinuate that people were, in your words, "stupid losers".
However i am saying they cant manage their money (read this bit carefully as you obviously havent previously), if they are regularly in debt for he reasons explained previously

As for the single mum comment, i cant really comment on a consensus as i havent bothered to find out in particularly, but i am basing it on a friend who happens to be a single mum (through a bad divorce) and her quality of living almost certainly doesnt reflect £17300 p yr. Which is what i based my opinion on

But as Marc said we will have to agree to disagree unless you can definiteively proove otherwise.

 

[Mey]

Fuck me i'd love to get 17k a year to sit on my arse and bring up a child..

 

[BloodOmen]

I have this problem.. originally I had a £50 over draft limit I never once authorised anything above that yet I went -£169 over drawn a few months back... I went to lloyds and asked them how that was even possible and why so did they let it go that far down if my original over draft limit was £50 and could not exceed that amount.. anyway they charged me fuck loads for having that over draft and in short gave me this answer


something along the lines of


"we're your bank and we can do pretty much what we want."

 

[Corran]

As for the single mum comment, i cant really comment on a consensus as i havent bothered to find out in particularly, but i am basing it on a friend who happens to be a single mum (through a bad divorce) and her quality of living almost certainly doesnt reflect £17300 p yr. Which is what i based my opinion on

What does your friend do for a living? Single mum is so open it could mean woman that unemployed with a 2yr old, woman unemployed with a 14yr old, woman in full time/part time employment etc...

In general, the state cater for single parents more then any other person. As a rough estimate, a single parent would get roughly £3 a week less then what a couple with a child would. This means that for just £3 a week you got to feed 1 extra adult.

Single parent unemployed should get at least the following: Maintainance from father(not as easy as some may think). Income support, Housing benefit, council tax benefit, child tax credit (if working then working tax credit) and a couple of other bits. In general though you will find that a single parent makes more then someone in full time work on minimum wage. Quite comical.

Council tax benefit, if getting on full amount will equate to say 800 a year. Housing benefit will be between £100 and £250 a week (depends on where you live area wise etc), income support if not working/getting maintance be £150 week approx most likely etc etc. Situations affect this figures but they are actually pretty well off compared to some people.

I would comment on backhanders etc they get and dont declare though, or the partner that they then have move in and still get all their benefits paid followed by a "I didnt know i had to tell you" excuse (Dont take that as an accusation against your friend - just the amount of chancers out there are unbelievable, but least they keep me in a job )



But oops. this aint what the thread is about.

I like my bank. Im with NatWest and they provide me with an overdraft at no cost. Infact they keep giving me a larger overdraft. Think it 1500 they recently increased it to. Not that I go more then a little into it, but it shows the difference between some banks. However I bet if you had a break down of accounts the major part of their profits come from these rediculous fees.