We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Hbos Withdrawing Overdraft
Options
Renwick1
Posts: 13 Forumite
Hi all,
Just got back from being at home helping out my parents who had a carcrash (in Ireland). Have had a 3k overdraft with HBOS since they increased it in October 08. Ususally it was 1k. I had not used it over £800.00 ever then with being at home in Ireland and keeping their house running I went up to £2850 overdrawn. My salary goes in to that bank account every month and that £2000 after tax so I do not think it is too bad a picture, with a little budgeting I could have cleared it in a few months.
However.... I received a letter from HBOS saying that they were withdrawing my OD (all of it) with effect from 2 weeks as they need to be a "responsible lender" Clearly I do not have three grand. I went online and tried to open an abbey account with a three grand OD and I have had an email to confirm they have started the switching process. NOt sure yet if they are giving the same OD. If they do not where do I stand with HBOS? Will they agree a payment plan - I have not yet phoned them (I have 6 days until it is withdrawn).
Hopefully Abbey will switch everything including OD and I can stick to plan and pay them off. I am seriously ticked off over it as I have been with HBOS for 9 years and apart from a blip 5 years ago when I had loads of charges when I lost my job, I have been a good customer....
Seems to me though that they increased it only to withdraw it, not sure what is responsible about that and also nothing has changed on my credit rating in that time? Stumped and annoyed...:mad:
Just got back from being at home helping out my parents who had a carcrash (in Ireland). Have had a 3k overdraft with HBOS since they increased it in October 08. Ususally it was 1k. I had not used it over £800.00 ever then with being at home in Ireland and keeping their house running I went up to £2850 overdrawn. My salary goes in to that bank account every month and that £2000 after tax so I do not think it is too bad a picture, with a little budgeting I could have cleared it in a few months.
However.... I received a letter from HBOS saying that they were withdrawing my OD (all of it) with effect from 2 weeks as they need to be a "responsible lender" Clearly I do not have three grand. I went online and tried to open an abbey account with a three grand OD and I have had an email to confirm they have started the switching process. NOt sure yet if they are giving the same OD. If they do not where do I stand with HBOS? Will they agree a payment plan - I have not yet phoned them (I have 6 days until it is withdrawn).
Hopefully Abbey will switch everything including OD and I can stick to plan and pay them off. I am seriously ticked off over it as I have been with HBOS for 9 years and apart from a blip 5 years ago when I had loads of charges when I lost my job, I have been a good customer....
Seems to me though that they increased it only to withdraw it, not sure what is responsible about that and also nothing has changed on my credit rating in that time? Stumped and annoyed...:mad:
Have you had an OD withdrawn? 4 votes
Yes
25%
1 vote
No
75%
3 votes
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.8K Banking & Borrowing
- 253K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.6K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards