Any advice on Abbey debt appreciated.

jason.lawrie

Hi all, hope someone can shed any light to see if this is possible. Basically I got into trouble with an Abbey overdraft, stands at just over £2k. Payplan are making payments to it and they are happy. I want to clear down my debts asap. I used to work for Abbey and have still got a small deferred pension, at the moment its worth about £500 year but cant draw till my later years. Now here is the big question - can I offer to surrender my pension as payment against my debt?? Any help gratefully appreciated.

johannamse

I am 99.9% sure that nobody is allowed to surrender a pension. Why don't you post that specific question on pensions board.

If you are unable to surrender, try to post al your outgoings/income here and we will try to help you.

bluezone

my hubby is in the same boat as yourself. His overdraft facility was £3,500 with abbey until he was very silly with it. It has now been taken away and we have to pay them £400 a month to pay it back. He too has a pension which he tried to surrender to cover the overdraft but abbey said NO. You should phone them and come to an agreement on how much to pay back a month.

I hope this helps