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The Diary of a reformed Ostrich! (no more head in the sand!)

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Comments

  • Hi I've just found your diary and I wanted to wish you all the best.

    You've clearly come such a long way aready. We've all been there at one time or another...you seem to be taking a really positive approach and taking one hurdle at a time.

    Keep posting and best of luck :cool:
    Working Hard to be Debt Free - one day :A soon
    DFW Long Hauler 74; Mortgage overpayments MFiT-2 challenger 100
    Total Nov07 £36000, Sep10 £1623:o:)
  • Thank you :o)
    No chocolate, cosmetics or clothes to be bought before xmas day 14! ~ NPower eBay target £541.67
  • petrafyde
    petrafyde Posts: 354 Forumite
    Hi all,

    I've just been onto Natwest to find out how I would go about decreasing my OD to be told this!

    chatinfo.gifThank you for your interest. An adviser will be with you shortly.
    This chat may be monitored or recorded to ensure quality of service. Please remember not to give any personal information (such as passwords, account numbers etc.) during the web session. Please note if any personal information is given, it will only be used with regards to this specific enquiry and will not be used for any other purpose.
    chatinfo.gifYou are now connected with Tamara
    Tamara: Hello, you're chatting with Tamara. How can I help you today?
    You: Hi, I've a few questions if you don't mind.
    You: Basically I was struggling with my overdraft, but things are starting to improve. I'm wondering if its possible to reduce my overdraft by a marginal amount monthly rather than remove it all at once?
    Tamara: If you wish to reduce your overdraft limit, please contact our Standard Number on 0800 200 400 or visit your local branch. Please keep in mind though that if you choose to reduce your overdraft limit every month you will be credit scored. The other option is to take out a loan to clear your overdraft, however your overdraft limit will be immediately decreased to £100. However, after 12 weeks you can apply to increase it again.
    You: I see, what do you mean by credit scored?
    Tamara: You will be credit checked for any borrowing you apply for.
    You: Well I thought that was the case anyway? I'm just wondering why reducing my overdraft over a monthly period to get it down without having to borrow should mean I'm penalised (if you see what I mean?)
    Tamara: This is our bank's policy.
    You: Yes. I'm saying I dont understand how I can be credit checked when I don't apply for anything?
    You: I would be credit checked when I applied for a loan to pay off the overdraft anyway, right?
    Tamara: You are applying for a overdraft decrease. You would be credit checked for a loan application.
    You: I'm sorry I'm getting really confused
    You: If the money is there in the account, and I want to remove part of a service, ie: £300 of a £2000 overdraft, I get credit checked?
    Tamara: Yes, you would.
    You: But why? I'm giving them money back which they've previously 'loaned' to me?
    You: Hello
    Tamara: Even if you are decreasing the limit, you are still applying.
    You: Okay I think I see what you mean. So because I'm applying I get credit checked. What about if my credit rating is extremely bad (and I wouldn't be given finance anyway) would they refuse to decrease it? Sorry to seem dim but this seems really strange!
    Tamara: Potentially we could ask for you to repay the overdraft facility back if you are declined for the decrease in your overdraft facility. If you have any further queries in relation to your overdraft, for example on how to manage it, please contact our Standard Number on 0800 200 400 or visit your local branch as they will have access to your personal details.
    You: Right, well it's no wonder I've been scared to call Natwest then. Thanks for your advice, I've no other questions.
    Tamara: You're welcome. Have a good evening.
    Tamara: Thank you for chatting with us. Your feedback is valuable to us. Please click the "Close" button on the top right of the chat window to tell us how we did today.

    To be frank, it's no wonder people get scared to call up and be honest about their finances?

    It's obvious what I'm going to have to do and its even scarier! Keeping that money in the bank and not spending it until I can just get rid of the whole entire overdraft seems almost impossible lol
    No chocolate, cosmetics or clothes to be bought before xmas day 14! ~ NPower eBay target £541.67
  • tallyhoh
    tallyhoh Posts: 2,307 Forumite
    Part of the Furniture 1,000 Posts
    Jeeeeeeeezzzzzzzzzz!!!!!:eek:
    Tallyhoh! Stopped Smoking October 2000. Saved £29382.50 so far!
  • petrafyde
    petrafyde Posts: 354 Forumite
    Yep, isn't it marvellous how they bend over backwards to help us.

    Aside from the bank, I've started paying off some of my other debts now so it's looking a bit brighter. Still really struggling organisationally-wise (is that a word?!) but its not so bad. Even DCA's have been extremely pleasant so far.
    No chocolate, cosmetics or clothes to be bought before xmas day 14! ~ NPower eBay target £541.67
  • lucielle
    lucielle Posts: 11,587 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    We have a large OD with Barclays. I have arranged to have it reduced by £10 per week and they have been fine about it.
    L
    Total Debt Dec 07 £59875.83 Overdrafts £2900,New Debt Figure ZERO !!!!!!:j 08/06/2013
    Lucielle's Daring Debt Free Journey
    DFD Before we Die!!!! Long Haul Supporter #124
  • Well this is what I was thinking. I mean, I don't want to make my credit worse if I can help it - the goal is to ultimately improve it.

    I just honestly think that my bank has a mission to make life harder for those trying to get a foothold back onto the ladder! OK, I was only joking, but that rep. was quite firm about 'policy' don't you think?
    No chocolate, cosmetics or clothes to be bought before xmas day 14! ~ NPower eBay target £541.67
  • chevalier
    chevalier Posts: 7,937 Forumite
    Part of the Furniture Combo Breaker
    Ok I have rather a radical idea. You mentioned earlier that your OH was self employed but had not been working due to health issues? Well is he well enough to take the kids to school/look after the eldest one? If he is then how about YOU going out to work and him being the house husband?

    If one of you was bringing in more regular money I am sure you could be paying your debts off faster. Or if he really won't go for it, what about you working a night shift somewhere. If nothing else, Royal Mail will be taking on staff to work over Christmas and there will be night work on offer there.

    If he is too ill to help out in this way, then fair enough. But if he is that ill then do you get DLA and Attendance Allowance, would be worth checking. But I think if he can support you returning to work then that would be ace.

    Well done with what you have done so far
    chev
    I want a job that is less than an hour driving away from my house! Are you listening universe?
  • petrafyde
    petrafyde Posts: 354 Forumite
    Hiya Chev,

    This has been considered and basically I don't think he can cope right now. Zoe is full time in September, so the pressure eases a lot then but at the moment things are awkward (its a lot to go into here) If it improves at all, that will be the first thing I look to doing.. its driving me mad being at home to be honest!

    Thanks for the support :)
    No chocolate, cosmetics or clothes to be bought before xmas day 14! ~ NPower eBay target £541.67
  • petrafyde
    petrafyde Posts: 354 Forumite
    I hadn't thought about DLA...but I'll look into that now too also. Thanks again
    No chocolate, cosmetics or clothes to be bought before xmas day 14! ~ NPower eBay target £541.67
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