Really getting into a flap about my overdrafts!!!

Lemon_Tree

it's so frustrating when the two people in the team have different ideas. My OH has no debt but whitters away lots of his wages on nothing. Slowly i'm getting through to him that the more he saves the less he whitters away and the sooner we can start working on our other plans.

lynzpower

TismE wrote: »

Ended up having a row with OH last night and getting quite upset,
he's not quite on board with the dfw ways.
Basically he agrees that we can cut back on shopping, and that we could save quite a bit by doing this, but he still wants to spend, spend, spend!!
on other things, Surrond sound speakers are his latest fancy......
Ive wanted to buy a wii and wii fit , as you can see in my sig, i do think this would be great for the kids, infact we have been kindly borrowed one at the moment and the girls are never off the thing! but im, in my mind questioning if we can REALLY afford it !?
I guess i'll have to weigh up the pro's and con's on that one!

OH owes about 800 on his overdraft last night i was trying to say that if we cleared his overdraft at least we'd have one secure bank account between us, which to me makes sense, but he couldnt see the logic in paying it off.
Before we meet he got himself into a lot of debt and paid them at £5 per week, 'to keep em happy' and i think he's think we could just do that if the worst was to happen!

Anyways im gonna stick to my guns and pay mine off the best that i can, i've just cleared up a NI bill which was £120 so now i can consentrate on the overdrafts.

Both overdrafts are at same bank and at same interest rates, so my question is shall i focus on clearing one and then the other or both at once!?..............Tisme xx

Its my understanding that the bank can force people to pay off the overdrafts, by making them take a loan- does anyone know if this is true?

If so, to be honest, you are going to be looking at a whacking loan on your ODs, AND into the bargain this might be so much that it stuffs up your monthly budget.

IM not sure if this is true, anyone any ideas?

beanielou

Yes, some banks can & do try really hard to make peeps change their OD's into a loan.

Toni_Broke

Hi

Our bank tried to do this last year but we managed to persuade them that we could clear it. It took a bit of persuasion i can tell you!

Luckily we will clear it totally by March and we will be writing to them to reduce it to just a small 'buffer' amount.

OD clear cc's here we come!

Tonixx