Help! I don't have an Overdraft but gone Overdrawn a lot!! (Gambling)

Anonymous1990 · 9 May 2013 at 12:21PM

I have read the advice and appreciate it, but I don't know what use it would do if I go into my bank, I have no income so I don't know how I would be able to arrange repayments? I'm unemployed but been constantly applying for jobs since I left college but everything has been unsuccessful?

MissAT · 9 May 2013 at 12:33PM

Firstly, you don't have a job and you are spending £600 gambling - this seems incredibly irresponsible even if you did have a job.

Secondly, go into the bank the worst thing you can do is ignore an unauthorised overdraft. Also, speak to family members and see if you can borrow the money and pay them back in instalments.

Sensory · 9 May 2013 at 1:00PM

Anonymous1990 wrote: »

I have read the advice and appreciate it, but I don't know what use it would do if I go into my bank, I have no income so I don't know how I would be able to arrange repayments?

You won't know unless you try. They could agree to freeze the charges.

AlwaysLearnin · 9 May 2013 at 1:06PM

Anonymous1990 wrote: »

I think my only option is to ignore my bank account and let it get into more debt. My account is registered at an old address anyway so debt collectors/bailiffs would go to the wrong house anyway?

What possibly makes you think people on a budgeting board (or anywhere...) would endorse that?!

You've spent money you haven't got and you don't seem to be able to pay it back at the moment. The only way forward that I can see is that it's time to grow up and face the music. Yes you've got yourself in a bit of a pickle, but burying your head in the sand is only going to make things worse. There's also the longer term impact on your credit rating to consider too.

Speak to your bank. The money has gone and so it's got to be in their best interests to work with you to get it back as best as possible.

fevlo · 9 May 2013 at 1:17PM

Sounds to me like you were funding the betting account using paypal and they were taking the funds as a direct debit hence why it doesnt come out your bank for a few days.
If the direct debit hasnt already been taken then it is likely that Natwest will bounce them back and your paypal account will go into a negative. You will simply owe Natwest a few unpaid item fees and the bulk of the money will be owed to paypal

Make sure you cancel the direct debit for paypal from your bank account otherwise they will try to debit again and you will get unpaid item fees on top of the previous fees and then unautorised overdraft fees.

Its so easy to spiral out of controll, (I have first hand experance of bad bank account management)

This is not an impossiable situaion to sort but do something now, dont just burry you head in the sand (Again, I used to be a first class head in sand burrier and it doesnt solve anything)

BTW, if the debt gets passed for collection, debt collectors will find you, gaurenteed.
Talk to those people you owe money too, its in their intrest to help you, just remember they cant have what you havnt got so they will do their best to help you just as long as you help them

innovate · 9 May 2013 at 1:45PM

Anonymous1990 wrote: »

....would it be bad if I just left it and forgot about it and then set up a repayment plan when I'm in full time employment?

It would be the worst option you could possibly choose. Firstly, your debt will rocket because of the charges that pile on every day.

Secondly, your credit record will be shot to pieces for possibly decades to come.

You must get an arrangement with the bank, and you must find a job to pay the money back.

Check out the debt-free wannabe board for some more help - there are organisations that you can contact, contact information is over there.

pqrdef · 9 May 2013 at 2:07PM

First thing to do is get a current account with another bank before anything hits the fan. Like immediately. Then you'll still be able to bank and you'll have somewhere to get benefits etc paid into without them disappearing straight into a black hole.

Moneysaverchris · 9 May 2013 at 2:40PM

Wow What a stupid situation to get yourself in.

Anonymous1990 · 9 May 2013 at 2:54PM

pqrdef wrote: »

First thing to do is get a current account with another bank before anything hits the fan. Like immediately. Then you'll still be able to bank and you'll have somewhere to get benefits etc paid into without them disappearing straight into a black hole.

Thanks that sounds like a good idea.

Anonymous1990 · 9 May 2013 at 2:55PM

fevlo wrote: »

Sounds to me like you were funding the betting account using paypal and they were taking the funds as a direct debit hence why it doesnt come out your bank for a few days.
If the direct debit hasnt already been taken then it is likely that Natwest will bounce them back and your paypal account will go into a negative. You will simply owe Natwest a few unpaid item fees and the bulk of the money will be owed to paypal

Make sure you cancel the direct debit for paypal from your bank account otherwise they will try to debit again and you will get unpaid item fees on top of the previous fees and then unautorised overdraft fees.

Its so easy to spiral out of controll, (I have first hand experance of bad bank account management)

This is not an impossiable situaion to sort but do something now, dont just burry you head in the sand (Again, I used to be a first class head in sand burrier and it doesnt solve anything)

BTW, if the debt gets passed for collection, debt collectors will find you, gaurenteed.
Talk to those people you owe money too, its in their intrest to help you, just remember they cant have what you havnt got so they will do their best to help you just as long as you help them

Yes that is exactly right.

Help! I don't have an Overdraft but gone Overdrawn a lot!! (Gambling)

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