struggling student

clairebear33

just need to let off some steam, im in a bit of a panic at the moment.

I am a first year student, with a lot of debt, or what feels like a lot of debt to me - but i also have a job which gets me round about £400 a month.

I have maxed my student overdraft with halifax, infact gone over it by over £100 which in encurring charges, which will get paid by the end of the month when my wage comes in. But still, I understand this is not the point.

My parents dont know about the debt which is making it alot worse as all I want to do is get my mum to tell me it's all going to be ok.

I am really worried that between now and payday, which is friday the 27th March, that the bank demand this money I've gone over by. My wage goes directly into this account so it WILL get paid back then.

At the moment though, I am left with no money, my mum says she'll put £30 in my account to see me through to next friday - payday. The account she is going to put it into is also with halifax, but is not my student account. Will this be accepted ok or will the bank take it straight out of that account and into my student one? if that is the case then I dont cant have her paying it into there.

I do however, have another basic current account with natwest which she could pay the money into, problem being we dont have a natwest anywhere near my hometown. Does anyone know if my mum could go into RBS and pay it into my account there as i understand RBS and Natwest are connected?

I am awful with money and really need someone to help me with money as soon as i get it, its gone.

Merlinexcalibur

Hi, there my name is Eddie your shipboard computer. Just kidding. Anyway, welcome.

One suggestion here is you could approach your Student Union, see what advice they can provide? Others will be along shortly I'd surmise with further advice.

clairebear33

oh and also, i might add my parents are bankrupt, which makes me feel tonnes worse about being in debt, then taking money off them, even if it is £30....

clairebear33

the student union do have a hardship fund, but i dont think they would take pity on someone who is as bad as me with money

Sharon87

Halifax won't demand the money back straight away, they'll wait and soak up the interest you'll be paying. If your mum transfers the money into your other account it shouldn't be transferred to the other account. Halifax don't do this unless you've been over your limit for a long time. But for peace of mind you can withdraw it straight away and it will make you aware at what you are spending.

Are you overspending every month then? How about posting a Statement of Affairs as found at the top of the board.

Merlinexcalibur

I meant for debt advice. Surely, you'd imagine someone like SU to have other connections eg where you can now go for debt advice? I happen to know they do for example being an ex graduate myself.

Or you could try CCCS.

clairebear33

i have been overspending for the past few month.

Im so worred that when my mum goes to pay in the money they'll tell her all about my overdraft!! its a horrible feeling and i know i'm probably being a bit over the top....

Olivia_Jones

The bank will NOT tell your mum about the overdraft.I used to work as a cashier for the Halifax bank and its confidential information,they will not discuss any aspects of your account with your mum.They will take payment from her,credit your account and issue her with a receipt-thats it.
They also will not take this money from your account to put it in the other account-they only do this if the account has been over for months and you are making no effort to pay it,so please do not worry.