Where the hell do I start?!!!!!!

lilysgarden

Ok, I'll try to keep this short! I finished uni in July last year and managed to secure my first 'proper' job by the middle of October. Sadly, due to my GP being bit of a muppet in giving me occupational health clearance, I wasn't able to start until the 5th of January this year and I spent the best part of two months over the Christmas period without a job.

Anyway, up until september 2004 when I returned to education as a full time mature student, I'd had absolutely no problems at all with my current bank, HSBC. But since I've been a student, I've found them to be the most unhelpful bank in the world! I've worked hard for nearly the last 5 years to keep on top of my debts and manage them as best as I can in my circumstances. Unfortunately, HSBC have been totally unhelpful in any situation, despite me having banked with them for nearly 25 years.

The worst has been most recently since I graduated uni. When an extremely pushy salesman pretty much pressured me into taking a graduate loan to clear some of my debts. Although this was something I'd planned on doing, I was hoping to be in full time work again. Sadly, this guy didn't take no for an answer, and although I'm clearing the debt, it's a repayment I could do without making at the moment. Sadly, HSBC refuse to allow me a repayment holiday on despite my having paid it for the last 7 or so months. I also have an overdraft of £900 at present, which I know is alot, but until my outstanding bills are cleared, I can't even consider starting to clear this. On top of this, despite knowing my financial situation at present, and me asking them for some help or at least a bit of leeway, they've continued charging me £25 for every time I've gone over my overdraft limit. While I'm now on better money, these extra charges are making it much harder to get my finances back in order.

As a result of how unhappy I've been with the bank for nearly 5 years now, I've decided to take my business elsewhere. But I just have no idea where to start! All the advice of this site seems to be aimed at people with fairly good credit rating or with small overdrafts. I have no worry's about moving all my direct debits etc, I'm just concerned that whichever bank I move to, won't lend me the money to clear the overdraft and move everything over, which is my biggest worry at the moment. Does anyone have any idea which bank would be best to move to? Or which bank might be willing to help me out and understand that I'm trying to clear this debt a bit at a time?!

Any advice would be much appreciated!

Thanks, Nikki

Richard019

This probably isn't the best advice somebody can give you but it's not bad (it certainly looks bettwer than your current position).

Have you checked RBS/NatWest for their graduate account? I think they take new customers at the graduate stage rather than just converting student accounts. I'm not certain as it's been a while but I'm sure they give you at least £1,500 0% od for the first year after graduating, £1k for the 2nd year, £500 for the 3rd and then zero after that. (it might work from account opening)

Assuming they would give you the bigger overdraft that would give you some interest free money to pay off other bills to get them out the way and allow you to focus on the admittedly now bigger overdraft. Although the interest free part comes down the actual limit stays up there, so while the interest is quite hideous on the top end the fees at least would stop.

lilysgarden

Thanks for the advice. I must admit, I've had a Natwest account when I wprked for them years ago and I had so much trouble with the account etc! Was just not worth it, but like you say, anythings got to better than HSBC at the moment. From an email I got from them today, it looks as though their now charging me £50 for going over the overdraft limit instead of £25. And that charge happened after I'd realised I'd gone over the limit and transfered money directly in to clear in! The statement even clear shows the money having been paid in the same day! Just a pity that after over 20 years of banking with them, they've lost a previously VERY HAPPY customer!!!!