Claim your Lloyds overdraft  refund

What are Lloyds Unaffordable Overdraft Claims?

If you have held an account with the Lloyds Bank  and used an overdraft facility, then you might be eligible to make an unaffordable overdraft claim.

In recent years, banks like Lloyds have received significant criticism over how they handle overdrafts in a way that causes financial hardship to customers. This included things like charging unaffordable overdraft fees or not performing due diligence when offering this financial product. So if you believe you’ve been negatively impacted by an overdraft from Lloyds, you can claim compensation to recover some of the money you have lost.

How to Check Eligibility for Unaffordable Overdraft Claims

If you’d like to check your eligibility for an unaffordable overdraft claim against Lloyds, then you’ll need to look at your financial history and any charges you’ve received. At Claims Bible, we can take all of the legwork out of this for you by going over your bank statements and reviewing overdraft fees or charges. If we find these fees were unreasonable, or contributed to your financial hardship in some way, then you may be eligible to claim.

If you’re not sure about your ability to make a claim, then get in touch with one of our specialists at Claims Bible today for information and guidance.

How to Make an Unaffordable Overdraft Claim Against Lloyds

If you’re looking to make an unaffordable overdraft claim against Lloyds, our team at Claims Bible can walk you through the steps. We’ve got extensive experience in handling these claims, so you can rest assured that our process is effective and simple. Here’s how we do it:

• The first part of the process is gathering all of the right information and documentation that will support your unaffordable overdraft claim. We’ll require bank statements, account information and any other evidence that shows financial hardship suffered due to the overdraft.
• From here, we’ll begin the claim process itself. We’ll work with you to prepare a strong case for your claim, file it properly and ensure it’s presented in an accurate and timely way to Lloyds.
• When we’re ready to progress the claim, we’ll make a formal submission to Lloyds for your case. This involves creating a clear, concise and accurate account of your circumstances and how your unaffordable overdraft has impacted your financial situation.

What is the Deadline to Make an Unaffordable Overdraft Claim Against Lloyds?

Unfortunately, there is a time limit for making unaffordable overdraft claims against Lloyds and other financial institutions. According to the Financial Conduct Authority (FCA)  you can only make claims up to 6 years from the date that you knew that the overdraft fees were causing you financial troubles. So, anything older than 6 years won’t be able to be claimed.

How Much is a Lloyds Unaffordable Overdraft Claim Worth?

How much you receive from an unaffordable overdraft claim against Lloyds Bank will vary depending on your situation. Some of the main factors that influence compensation include the total amount of fees you were charged, how long you’ve been using the overdraft and how severely it’s impacted your finances. At Claims Bible, we look at each case individually, ensuring that we can tailor the claim to your circumstances and available evidence.

If your claim is a success, then you can expect to receive a refund on any of the excessive fees you had to pay, as well as potential compensation to help with the financial duress you’ve experienced due to the unaffordable overdraft.

How to Start Your Unaffordable Overdraft Claim Against Lloyds

If you’re looking to get your unaffordable overdraft claim against Lloyds Bank started quickly, then speaking to our team at Claims Bible is the best place to start. We have lots of experience in handling these cases to a successful conclusion, and our established process makes it all easy. Here’s how we do it:

Determining Your Eligibility

The beginning stages of this process involve looking at your financial situation and how your Lloyds overdraft has impacted things. We’ll also ask you some additional questions to find out about your financial circumstances to find other evidence to support your claim.

Case Assessment

After collecting the information needed to progress your case, we can begin the assessment stage. This is where we go over all aspects of your claim to make sure it’s valid before handing it over to a suitable solicitor.

Starting Proceedings

With your solicitor on board, we can progress towards gathering evidence for the claim. At this stage, the solicitor will contact the negligent party to inform them that the claim is underway, which starts the negotiation process and potential settlements.

Claiming Settlements

Once your solicitor has reached an amicable agreement with the negligent party, you’ll be on your way to receiving compensation for your claim. This can take a few weeks if the settlement goes ahead, but if the arrangement isn’t suitable for you we can advance the claim to the Financial Ombudsman.

Let Claims Bible Help You Win Your Lloyds Unaffordable Overdraft Claim

At Claims Bible, we understand how daunting it may seem to make a claim against a big bank like Lloyds. However, we’re experienced in this very thing and understand how to get the results we want for our clients. We make it a simple process for you and greatly increase your chances of success through our proven process for making these claims. If you’d like to get started with your case, fill out our online form and we’ll reach out to you shortly.