Payment Plans

Bec86

Hi this is my first post and just wanted to see what people though about it. I called my bank today to get a statement of my bank charges. I was them passed to another department to talk about my overdraft and they set me up on a payment plan of £10 a month while freezing my account and the interest. But i am unemployed. I am confused now because i spoke to a member of my family and they think that i should call them back and tell them i cannot pay it. I thought i was doing the right thing. but really i cant afford to spend that when i only get basic money.

what are peoples thoughts.

thanks

Lokolo

So you can't afford to pay £10 a month back? Are you being serious?

Would you rather than bank keep adding charges back on? Jeez.

Bec86

as you wil have read i am unemployed and have no income so yes i cant pay £10 a month back. the banks are supposed to be helping us out with this but how is adding more charges going to help me!!

helpme88

hello,
not sure if this is true, but apparently if u r claiming JSA u cannot be charged from the bank. something to look into maybe?

Lokolo

helpme88 wrote: »

hello,
not sure if this is true, but apparently if u r claiming JSA u cannot be charged from the bank. something to look into maybe?

Yes I think the bank cannot take the JSA money for charges etc. its in another thread somewhere, I'll have a looky looky.

Lokolo

http://forums.moneysavingexpert.com/showthread.html?t=1628827

There you go, read that

---

Only problem is, if you start messing them around they will demand the money back straight away and maybe take you to court if need be (but I would suspect this is only in extreeeeemmmmmeeeeee cases).

I am sure you are in difficulty but £10 a month is £2.50 a week, its not a lot is it. You said they are not helping by adding charges, well thats exactly what they're not doing, they've frozen the charges have they not? You really are going to have to think this one through because by not going ahead you could make things worse for yourself.

crispy_chris

I believe what the legislation says is that banks cant hold JSA in order to pay bank charges. You can still accrue them as you still arent running the account as it was designed.

EarthBoy

I would accept their offer while you have a chance, and before the bank changes their mind! Job Seekers Allowance is only temporary, -until you get a job, so eventually you will be working again and receiving a wage not JSA. If you wait till this happens the bank might not make you such a good offer.