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overdrafts
debrag
Posts: 3,426 Forumite
I have 2 ODs
OD1 = £244 with Nationwide
OD2 = £205 with TSB
OD2 is on my DMP but OD1 isn't, both are unplanned.
I have made a payment to OD1 of a few £'s a week or so ago and they are refunding me £30 as good will even though the whole balance is made up of £20 + £2 charges.
My question is how good are Nationwide at arranging a plan to pay an OD off? I can afford £25 a month but don't want them to keep adding charges as the balance will remain the same. I have a basic account.
I aim to have £150-180 available at the end of March which I could use to pay this off if needed.
This is what I got from payplan regarding OD2:
You need to ask them to downgrade the account, write them a letter to ask that, that way the OD should be “closed” although that balance is still owing. After that they will most likely give you an unplanned OD and they will still continue charging fees by that time you need to go down to the branch and ask for the OD limit to be increased that way because you haven’t used all of it in theory it’s like you’re not overdrawn over the limit so they don’t have reasons to continue charging and you should be able to repay the previous amount as it stands now with your current plan, does this make sense? I hope it helps.
Mine is already unplanned so don't think that will help
OD1 = £244 with Nationwide
OD2 = £205 with TSB
OD2 is on my DMP but OD1 isn't, both are unplanned.
I have made a payment to OD1 of a few £'s a week or so ago and they are refunding me £30 as good will even though the whole balance is made up of £20 + £2 charges.
My question is how good are Nationwide at arranging a plan to pay an OD off? I can afford £25 a month but don't want them to keep adding charges as the balance will remain the same. I have a basic account.
I aim to have £150-180 available at the end of March which I could use to pay this off if needed.
This is what I got from payplan regarding OD2:
You need to ask them to downgrade the account, write them a letter to ask that, that way the OD should be “closed” although that balance is still owing. After that they will most likely give you an unplanned OD and they will still continue charging fees by that time you need to go down to the branch and ask for the OD limit to be increased that way because you haven’t used all of it in theory it’s like you’re not overdrawn over the limit so they don’t have reasons to continue charging and you should be able to repay the previous amount as it stands now with your current plan, does this make sense? I hope it helps.
Mine is already unplanned so don't think that will help
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