Son 18 yrs pressured into Bank overdraft

LINDYDAWN

My son at the present moment is not in a regular job earning regular money and he has unfortunately gone overdrawn on his agreed bank overdraft instead of them contacting him and suggesting he sorts out some payment method they have just agreed to up his overdraft limit therefore encouraging him into further debt, on top of this they have stuck bank charges onto this so as you can imagine the amount he owes is spiralling out of control, the bank has done this same thing on a number of occasions and they are well aware he has no regular income.Can anyone give me advice as to if the bank are in the wrong to pressure him in this way can it be mis representation of what a bank really stands for, are they not suppose to advice on getting money issues under control , and not agreeing to up his overdraft so they can get more charges out of him.. Any advice or experiences of a similar nature would be gratefully read ????????:o :eek:

krisskross

I believe that as it was your son that went overdrawn that it was up to him to make thearrangements to sort it out with the bank rather than the other way round. Quite honestly they are not Social Services.

Perhaps you could lend him the money to pay it this time then ensure he has an account that it is not possible to go overdrawn on, like the Post Office account. He could then start the reclaiming process to see if he is able to recoup some of the charges.

scheming_gypsy

do they charge him for his overdraft?
both me and my lodger recently lost our jobs and ended up overdrawn without an overdraft or over my overdraft. On both occasions the bank offered to up the overdraft limit to cover the excess so we don't get hit with charges.

if they've done it on a number of occasions, is it bank charges from having an overdraft or is he continuing to spend money and have DD's going out that carries on taking him over his limit?

starsinmycrown

LINDYDAWN wrote: »

My son at the present moment is not in a regular job earning regular money and he has unfortunately gone overdrawn on his agreed bank overdraft instead of them contacting him and suggesting he sorts out some payment method they have just agreed to up his overdraft limit therefore encouraging him into further debt, on top of this they have stuck bank charges onto this so as you can imagine the amount he owes is spiralling out of control, the bank has done this same thing on a number of occasions and they are well aware he has no regular income.Can anyone give me advice as to if the bank are in the wrong to pressure him in this way can it be mis representation of what a bank really stands for, are they not suppose to advice on getting money issues under control , and not agreeing to up his overdraft so they can get more charges out of him.. Any advice or experiences of a similar nature would be gratefully read ????????:o :eek:

lloyds did this to me when i was 19, in the exact same way. Is it them? If so, i really don't think theyre going to do anything. As far as i was aware, there is a rule saying you can't get offer credit facilities to people as a first solution to getting them out of financial difficulty, but i can't remember where i saw this! banking code? ombudsman? anybody? i think if you can find something akin to that that must be the only leg you have to stand on.