Nationwide- Letter to say they are reducing my overdraft

Stubbsy055

Hi All,

Opened up a letter from Nantionwide saying they are reducing my auithorised overdraft limit from £1600 to £1000 on 12th Dec.

I think its because I live in my overdraft and am only out of it a few days after payday. I phoned them up to see if they can stagger the reduction to £1300 on 12th dec and then £1000 on 12th Jan. They said the only thing they can offer is the overdraft reduction plan where its gets reduced by £100 until its cleared and then I have to be in credit for 3 months.

I have found this unresonable and am now effectively £600 short for december! No going out for me!

Stubbsy055

sofa_surfer wrote: »

Sorry to hear that, but maybe the penny should have dropped earlier?
Do you think it possible to try cutting down your expenses by a hundred a month as they suggest? You'll feel free as a bird afterwards!
There is plenty of good advice on the DFW board.

The overdraft reduction plan goes on my credit file as an arrangment and I don't want to be having a negative effect on this.

Going to start paying it off big time now. Like you said will feel great once I have done so :thumbs:

jopwo_87

They did the same to me. One day i had a £500 overdraft, the next i had nothing. Was given something like 28 days to find the money which is difficult whatever month your in!!

sofa_surfer

jopwo_87 wrote: »

Abbey National £240 £0. Littlewoods 1 £390 £0. Littlewoods 2 £190 £0. Nationwide £500 £0. Student debt £790 £600. Mum £2000 £1000

Look how much nicer your signature looks this way

Extant

Wow it's almost like the terms and conditions highlight that overdrafts are repayable on demand and subject to review!

Don't take an over draft for granted, and sure as hell don't live in it. It's for emergencies, not to cover up the fact that you have serious issues managing your money.