Help with an overdraft problem.

anicol914

Hi, never been on this before but im desperate for help.

Its really my boyfriends problem. He finished his masters at the end of September after doing his degree. So in all he's had five years at uni. In this time he had two student overdrafts, one with clydesdale and one with bank of scotland. During the summer he went overdrawn on the bank of scotland account but he paid that back. Now he's just got a letter from them saying that he has to pay the rest of his student overdraft back now due to an insufficient level of activity on his account. He has to pay it back (£1000) before 31st December or he gets a default notice thing that makes his credit score horrible. So we're trying really hard to find the money. I'm still a student doing my fifth year in law so my money is minimal. He has just started working for the council but won't get a full months pay cheque till the end of dec.

I was looking on this website and something came up about Super Balance Trasfers. Do you think this would be a good idea? Or do you think there is a chance he'd even get accepted??

I'm totally clueless about money issues so any help would be appreciated!!!

Thanks.

cifpower

He can either pay the OD off in time, come to an arrangement to pay back £100 or so a month or take out a Virgin CC and do a super balance transfer. Is he on the electoral roll? Has he missed payments or defaulted on any credit agreements? Does he have a lot of credit being used at the moment?

Jacobs87

That's not very nice! Has he spoken to anyone at the Bank about this? They may be happy to settle for £XX amount a month, after all there's no point in them pursuing your boyfriend if he doesn't own anything.

shoe_girl_2

Try phoning the bank or popping in and just explain that he cant pay it all, but hes getting cash soon. There usually pretty good like that.

anicol914

Hi thanks for replying. He's already been into the bank and they said they couldn't help and that it was his problem. He managed to sort out £200 pounds a month payment but we're still not sure if this means the default notice will be stopped?

Any ideas??