Made appointment with bank manager

In_a_Mess_3

I hope it is the right thing to do in the long line of things I have to do to get sorted out!!

I am starting with the bank because I have told them time and time again I have problems, and they have ignored me.

They have been putting charges of £35.00 on my account at least twice a week, and sometimes £170 in one day :eek:

My hubby has managed to put around £100 in each month to try and help but all that happens is it just about gets my account into it's overdraft limit then the bank charge another £35.00 putting me over the limit and off we go again!!

It is a vicious circle, when the bank phoned me for the umpteenth time on Friday, despite a promise from an advisor that they wouldn't I just lost it with the guy and told him how depressed I was and that I was almost suicidal he apologised and got off the phone pretty quickly.

Anyhow, I am hoping that the manager will at least be able to freeze the account and prevent any further charges going on it so it stays the same and stops the constant phone calls, I am getting up to 5 a day from them.

I will then go and see the CAB and see what they suggest and take it from there.

Thanks for reading and any advice anyone can give will be greatly appreciated.

GeorgeUK

To stop the calls there is a letter you can send that will hopefully do the trick. If they still call, tell tham that all communication must be in writing and refuse to speak to them.

http://forums.moneysavingexpert.com/showthread.html?p=11571485#post11571485

In_a_Mess_3

Thanks for that!!

I like it!!

I can use it for Beneficial bank as well, whilst I don't deny I owe them money I have always been honest and upfront about my situation and the calls depress me so much I get all tied up in knots and don't know what to do next!

rog2

Hi, In a Mess

Yes, you are doing the right thing, by facing up to your debts, and I hope that your meeting with the Bank Manager is helpful.

I would just like to urge caution on a couple of points:

Please do not commit yourself to any proposed solution, by your Bank Manager, that involves borrowing money, at least until you have had a chance to discuss all of the options that are open to you, in 'tackling this problem'.
Your Bank Manager will, quite understandably, put forward the options which are likely to be of most benefit to the Bank, rather than those which might be of most benefit to you.
I am pleased to see that you also have a meeting arranged with CAB (you could also speak with NDL - 0808 808 4000 or CCCS - 0800 138 1111). They are much more likely to put forward ideas which, although helpful to you, may not be the Bank's preferred option, such as closing the account and treating the overdraft as a debt.
And please, please if your Bank Manager as much as mentions the words 'Managed Loan' - walk out of the meeting.

Good luck.

Merlot

I totally agree with Rog2 (excellent advice as always), please please bear in mind the bank will probably want to "sell" you something and then they may agree to freeze the interest, do not under any circumstances take out a secured loan or anything for that matter until you have spoken to one of the debt charities, the bank is there is make a profit, and unfortunately are unlikely to help you out unless you agree to a "purchase". Call one of the debt charities for general advice before going to see the bank manager, there is no magic wand to wave over your debts, it will be a long hard road to debt free status and don't make it harder than it needs to be by getting a secured loan.

Merlot.x.

lindens

To echo those posting above, your bank will only help you if it involves making a profit from you.
I would not even bother going to see the bank manager. I would open a basic bank account, one that is not linked to your current bank or any of your other creditors. One that only has a cashpoint card. Then transfer all your income and DD's over to the new bank account. That way you are not making your overdraft worse. Then speak to one of the debt charities or if you go to CCCS website you can fill in a survey and it will advise you what your next steps should be.

Bargainfinder_3

I saw my bank manager, and he talked me into paying £10 a month for an account; on which condition he would wipe my charges and give me £50 interest free.. of course, then I maxed the overdraft to £200 and still ended up being charged plus the £10 a month... my tips??

1) stay strong and don't let them talk you into anything
2) Ask them to show you onscreen ALL pending charges
3) Beg, weep and cry to ask him to get rid of the pending charges, tell him you are planning on closing the account/ etc
4) If they get rid of them - well done! If they refuse, you will have to put enough money in to cover all of these pending charges, otherwise it will carry on in a vicious circle. (I know, I've been there)

I really hope this helps, as I have been where you are now, but I know now that it was my fault for not checking exactly how much money I had left in my account to spend... if you have an overdraft, don't forget to allow that they charge you interest on it, so if your interest is £2, and then that takes you over your overdraft, they can charge you £40 for it... terrible, but true.

I hope that your meeting with the bank manager goes ok; I remember the sick feeling I had when I saw mine, and it still took me another few months to have a lbm and get my spending in control / stop ignoring the tally up of my paycheque and my bank statement!

Take care,
BF x

sparkle1_2

Thank you all....... was just considering getting a loan to buy a car I Have just past my test at 33 years old yippeeee but have split with my husband in March and shouldnt commit myself financially to any thing (no savings at all), reading your posts has made me focus on the most important thing a roof over mine and my childrens head! Thank you thank you thank you!!!!!!!!!!!!!!!! Good luck to you all

In_a_Mess_3

Thanks all, it went ok actually.

She has cancelled the pending charges which was fine as I was paying in a cheque which took me under the overdraft limit and the charges would have put me over again, and so on.

She was very cross with the way the retail bank collections people have been hassling me and piling the charges on and has advised me to complain as she feels I should have a good case. We'll see, it won't hurt to complain anyway.

Apart from that there wasn't a lot she could do because the account is under the retail collections people at the moment, won't be in a couple of days though so that will help.

the other issue I had was that they had threatened to remove my overdraft facility if I didn't put in a regular amount, she advised me to ask them what the minimum was they would accept per month to keep the account going, which I did and it's only £20.00!! so that helps! :j

Will ring the CAB tomorrow, limited hours up here and see what they can suggest.

But don't worry there is no way I will take any credit, learnt my lesson the hard way there!!

This is a small small step, but it is a start. :T

RAS

Every journey starts with a single step. Now just keep the momentum going. Well done.

rog2

In_a_Mess wrote: »

This is a small small step, but it is a start. :T

Probably one of the most important steps you will ever take, IaM, and well worth it. :T

The meeting sounded really positive - good luck with CAB. :beer: