can anyone help me out here please?

tunafish1

Posted a little earlier but have had no replys, So asking again as I dont know if I can do what I want.

Situation is this - barclays current account with an agreed overdraft limit of £1500
Got a letter just before I got paid to say I was £2230 overdrawn.
Even when I was paid I was still in my overdraft
I had approx £600 to last me the month.

Now I was thinking I might be better to apply for a current account with say A&L (free£100) If accepted. I havnt got bad credit, well at least I didnt have until last week I had a few DD returned and Im living in my overdraft at the moment.

Im thinking this is a better idea as all of my salary is being eaten up by my overdraft and I feel Im going to keep going over it and getting charged. - if I had my wages to myself I know this wouldnt happen ... It makes sense to me even if it doesnt anyone else

What would happen if I switched current accounts? Would Barclays allow me to pay off my overdraft monthly? Or would I end up with a CCJ or something?
Im thinking it could take me upto a year to pay off...

Anyone with any answers I would be really grateful for your help!

PROLIANT

Open another account but make sure you make regular repayments to the overdraft on the other account, when paid off close it.

badgerbread

I agree with the posting above open a new account first then transfer to the new account just make sure you pay the overdraft off regulary and as quick as possible to avoid future charges

mum2one

If you go through Quidco they are giving £50 cashback for opening a current account, and earn another £20.00 by opening an A+L saveings account.

Personally I had major probs with Barclays, as they may try to get you to agree to a consolidation account, you get collared with interest.

The Alliance and Leicester account, mine got agreed with 48hrs and within a week had the cheque book.

Just make sure you keep paying the OD off at Barclays, as once they see your wages not going in they might reduce your OD and try to charge you for going over ur od etc.

CLAPTON

well no, it makes no sense at all

if when paying your salary into barclays you are going over your agreed OD and getting charges, then if you have a new a/c elsewhere you will still be over your barclays OD and will still be being charged ... in fact even worse as your salary won't even bring in back down temporally.


So you need to address the reasons you are over your OD and are overspending...why is this ...

best go over to the debt free wannabe board... read the stickies for new members and post up a SOA