Help Bank Are Taking Away My £840 Overdraft Next Month

redman7149

Hi,

My bank upped my overdraft from £150 to £840 after i said i had financial hardship as they owe me over £1000 in bank charges ie this is why my overdraft is so high-instead of trying to help me all they said is they will deal with my case once the bank charge court case is over and then they said "We will be taking away all of your overdraft in March" how does this help me?? i only earn just over £1000 and my rent alone is £250 a month and if they take my overdraft away this will leave me with just under £200 to live on and pay my bills for March-this wont even pay my rent=how am i going to survive? i cant sleep im so worried and i have no idea what to do-someone please help me

Thanks,

Vicky

boredofbeingathome

redman7149 wrote: »

Hi,

My bank upped my overdraft from £150 to £840 after i said i had financial hardship as they owe me over £1000 in bank charges ie this is why my overdraft is so high-instead of trying to help me all they said is they will deal with my case once the bank charge court case is over and then they said "We will be taking away all of your overdraft in March" how does this help me?? i only earn just over £1000 and my rent alone is £250 a month and if they take my overdraft away this will leave me with just under £200 to live on and pay my bills for March-this wont even pay my rent=how am i going to survive? i cant sleep im so worried and i have no idea what to do-someone please help me

Thanks,

Vicky

Hi, sorry you are in this situation. It has happened to a lot of folk and is not pleasant.

One of the main things you can do is set up a new account at another bank, make sure it is not part of the same chain and get your wages paid into there. If necessary draw out any money remaining so you at least have cash to pay your rent.
You need to explain that you are changing banks and will do this.

Also if you have had bank charges are you reclaiming them back now? Hopefully if you are then you will have enough to clear the overdraft if not then you need to set up some kind of payment plan to pay it back with appropriate letter saying you are repaying and would they reduce the overdraft monthly by amounts repaid without further charges..given the current economic climate they may be amenable to this.

That is just a couple of things i can think of, the main thing is to keep a cool head and get sorted ASAP.
Good luck.BoBx

redman7149

Thanks i have a savings account with another a bank which isnt in the same chain so i will try and change it to a current account-thank you so much i might just be able to get some sleep tonight