Lloyds TSB Overdraft

Joanne266

Wondering if anyone can offer some advice for me please.

I have (and have had) an overdraft with Lloyds for many years. I've never went over the overdraft, but am always in the overdraft every month (my pay leaves me in credit until about the middle of month when bills come out and then i'm in the overdraft). The overdraft is due to expire on December 26th and after a discussion with their phone bank people they have told me they will not be re-newing the overdraft. They've made me an appointment with my bank manager for tomorrow, as they would and could not offer any further explanation.

Can i ask if i can pay the overdraft back in installments? Or will they just decline this? Any advice/thoughts/help would be greatly appreciated. Thanks.

aniel

Why dont you just get a new current accoutn with an interest free overdraft for 12 months like alliance and leicester? Of course you'll have to do a bit of leg work around transferring your DD's to the new account but im sure it'll be worth it.

ShelfStacker_3

aniel wrote: »

Why dont you just get a new current accoutn with an interest free overdraft for 12 months like alliance and leicester? Of course you'll have to do a bit of leg work around transferring your DD's to the new account but im sure it'll be worth it.

What, so he can remain in debt forever and ever, only this time without any interest? Yeah, great solution.

OP; while you're in Lloyds, ask about a repayment plan. Offer them whatever you can afford to pay them each month, and if they agree then great. Otherwise, consider doing a 0% super balance transfer from the Virgin Money credit card - that way you'll pay no interest and your debt will be gone by the end.