halifax Student Account change over

[treenie01]

I've had a letter from Halifax today to say that my Student Account is changing to a current account. Although it tries to make this look like a good thing as I'll still get my £5 everytime I pay £1000 a month in, it also means I'll be paying £3 a day on my overdraft until I pay it back.

What would be the best thing for me to do as I can't pay it back in one go and I think I have a poor credit rating.

[spadoosh]

Consider changing banks, probably best looking at banks that charge a set fee for going overdrawn as opposed to a daily one youll currently be paying £90ish for using the overdraft think this can be had for around £25-30 Though might be difficult to be accepted for the same amount of overdraft you have currently.

Spend as little as possible and pay it off as quick as possible. A few super scrimping months is better than paying £90 a month for ages!

[spadoosh]

could be worth doing a statement of affairs (budget) and posting on here, the guys and gals are pretty good at helping you make cut backs if possible!

Your spending habits will be scrutinised and judged so be prepared to fight for anything you feel is a 'need'

[treenie01]

I have to scrimp anyway at the moment as I only work during gene time so don't get paid for the summer months. I think this is where the blind panic has come from because November will only be my second full wage. I have a nationwide account from before I was a student which currently isn't used so I can go back to using that.