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Has your overdraft been cancelled?
Comments
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A few years ago I had a Halifax overdraft that I was struggling to pay back but I did always pay some money into it. I was suddently changed to the £1 per day which gave me massive monthly charges and for a little bit at first made me over my overdraft limit which you then get £5 per day. My account was stopped and I decided to go to debt consumer credit to help me with paying my debts. They organised an agreement with Halifax to pay off monthly. Every month I was getting letter that the money was never on time and every month I was on the phone to Halifax reminding them of the agreement and it takes 3 days from consumer credits payment to reach them ( I paid consumer credit in advance) out of the blue I get a letter from cabot saying I owe them money. I called Halifax and seems that after 6mknths they automatically sell your debt on and Cabot now owns my debt. I came off the consumer credit as I felt it done me more damage and called all my debtors myself and agreed my own terms with them all. I have now paid off Cabot but as a result the Halifax and Cabot are now showing as defaults on my credit file! I'm going to fight these defaults as I have always paid on time from my side, was never informed they will just sell my
Debt and when they did wasn't told by Halifax and worst of all this wouldn't of got this far if my overdraft wasn't changed in the first place! However I do know I shouldn't of used it either so I paid without question!
Similar situation with myself. So glad I found this thread...0 -
Current account provider: Barclays. I had a graduate additions account with a 2500 agreed overdraft limit. My overdraft is usually in around £1000 - £2500 region. I did receive a letter, which I didn't open until yesterday the 25th of .January, which is dated 21.October 2016, explaining they will be switching my account over to a Barclays Bank Account with Tech Pack from 13th of January 2017. I should have opened my mail, but I just assumed it's advertising and I didn't see this coming at all. I only became aware of it when I opened a more recent letter yesterday which mentioned the change had been completed. Now I'm only allowed to have a £200 overdraft for free and I get charged for anything over that up to a £1000, 75 pence a day, and over a £1000, £1.00 a day, and over £2000, £3.00 a day. At present my overdraft is £1300, but I have to move home over the next 2 weeks, which means it can easily go over £2000. I'm not happy! I went into a branch today to ask advice and about a credit card for money transfer purposes but the customer service rep blankly refused me, although I remember having plenty of letters offering me credit cards in the past. Neither did she offer me any other advice.0
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Similar to above. I have a higher OD but could not pay it back within 3 months (the notice that they gave) and so am now paying £9.50 Tech Pack Charge and £90 per month OD fees (£3 per day).0
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Missminimal wrote: »Similar to above. I have a higher OD but could not pay it back within 3 months (the notice that they gave) and so am now paying £9.50 Tech Pack Charge and £90 per month OD fees (£3 per day).
Have you asked to convert the OD into a loan?0 -
Hi, I received another message of a single mother who also was switched like I, but had read the notifying letter she received 2 months ahead of the changes, but she had no means of paying it back; she has a £2300 overdraft and is very close to her limit. I hope she finds the help she needs to save her from further spiraling into depth. I meanwhile have moved home and in the stress that this has caused wasn't able to sort out anything out. On my way home from work yesterday, I dropped into another Barclay branch and now have booked an appointment with a private banker for Monday to discuss options. I'm not too hopeful as I'd tried that at the branch in London Stratford and they weren't helpful at all. But we'll see, the lady that I saw and that booked me the appointment in this other London branch seemed very sympathetic. I will at least get rid of the £9.00 a month insurance cover for phones and gadgets which they charge automatically although you haven't asked for it, even if you have no items that the insurance should cover registered, which I think is outrages as well. The money gets taken automatically until you cancel it.
Regards0 -
I am in the reverse situation
I have a small overdraft (£600) with Lloyds and after receiving a nice little salary rise and am trying to pay off my debts (CC, loan etc) so i don't need the overdraft (or at least that much) so i want to at least lower it
I have tried to apply for a smaller one through internet banking only to be told that i cannot apply for a smaller OD than i already have on IB and that i have to go into the branch
I went into the branch only to be told that the cashier cannot do it and i have to see an account manager for a review
As i work during the week i don't want to ask for time out of the office or book time off just to lower my OD (which i havn't used for 3 months since i got my rise)0 -
Hi. I am currently with Nationwide bank. My overdraft limit was originally £500 but today I noticed it's been reduced to £250. Im sitting at £479 in my overdraft so now I am well and truly over the overdraft. They never notified me at all in any way to let me know they were doing this which means I'm now left with no money for 3 and a half weeks. And then I'll be getting loads of bank charges from now not being able to pay my bills and for now being over my overdraft.0
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Ashleighmxo wrote: »Hi. I am currently with Nationwide bank. My overdraft limit was originally £500 but today I noticed it's been reduced to £250. Im sitting at £479 in my overdraft so now I am well and truly over the overdraft. They never notified me at all in any way to let me know they were doing this which means I'm now left with no money for 3 and a half weeks. And then I'll be getting loads of bank charges from now not being able to pay my bills and for now being over my overdraft.
If they really haven't notified you then it's unreasonable for them to withdraw a facility which you were using at the time.
Ring them up and say you want to make a formal complaint, and they will hopefully come to an agreement with you. It's not actually illegal in that overdrafts are generally repayable on demand but they should come to a better solution.
Has anything changed in your circumstances to provoke this?0 -
CatWantsToKnow wrote: »I will at least get rid of the £9.00 a month insurance cover for phones and gadgets which they charge automatically although you haven't asked for it, even if you have no items that the insurance should cover registered, which I think is outrages as well. The money gets taken automatically until you cancel it.
If you never asked for it then you should ask for it to be refunded. My guess is they asked you if you wanted it in a vague way that you didn't pick up on and agreed.0 -
We have a £1000 overdraft with Halifax. It has been removed without any correspondence to us. I paid £200 in the other day to cover some direct debts and couldn’t understand why they were returned. I’m supposed to be going on holiday in 29 days and have paid for my holiday but won’t be able to go if this is not sorted. We have 2 wages going in every month and I can’t understand why they have done this to without discussing it with us. I am absolutely distraught. Does anyone have any advice. My husband has to go into work late as he has been on the phone to them for 2 hours, no result so far. I’ve been waiting for an hour and they haven’t called back. I cannot believe that they have done this to us and that it is actually allowed.0
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