Overdraft

Apologizes in advance if I have posted in wrong page.
I have recently took out an overdraft with Abbey for £400 and with just around less that £1000 pound being payed into my bank on a monthly basis i will have to pay intersest of 19.9% which to be honest I can't afford and I can't see myself being able to clear the £400 in a hurry. My plan was to mayby borrow this money and clear my overdraft with abbey and switch to Alliance&Leicster who offer 0% for 12 twelve months but you have to be 21 this is so frustrating as im 20. If anyone could give me some advice on how to get out of this mess and a something that will able me too pay back a longer time span like A&L were offering.:wall:

Comments

  • DanDan123
    DanDan123 Posts: 378 Forumite
    edited 30 July 2009 at 3:40PM
    Why dont you just open the A&L account, ask them to match your overdraft and then pay off the other £400

    Am sure you dont have to be 21 for their normal current account offering a 0% overdraft?!

    I take that back - you do need to be 21 - sorry.
  • Micklfc9
    Micklfc9 Posts: 20 Forumite
    Does anyone actually know why you have to be 21 this is so frustrating and also if anyone has got any ideas on how I can get to 0% apr for around 12 months that would be appraciated.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898
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    To be honest £400 is not a great amount to owe - forget about mucking about trying to move it around and prepare a statement of affairs - post it on the debt free wanabee board - take the advice you will be given there with ideas to pay down the debt.
    Interest on £400 at 19.9% is only around £8 per month!
  • Micklfc9
    Micklfc9 Posts: 20 Forumite
    To be honest £400 is not a great amount to owe - forget about mucking about trying to move it around and prepare a statement of affairs - post it on the debt free wanabee board - take the advice you will be given there with ideas to pay down the debt.
    Interest on £400 at 19.9% is only around £8 per month!

    Thanks Mate will do;) I don't think I realised how little the interest would actually be I was just talked into believing I would have had 0% for 12 months.
    A little off topic but how do you see your team shaping up without ronaldo and Tevez?
  • In the top 2 - no team has ever won the league 4 seasons in a row - we could come close!
  • gfplux
    gfplux Posts: 4,985
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    Micklfc9 wrote: »
    Thanks Mate will do;) I don't think I realised how little the interest would actually be I was just talked into believing I would have had 0% for 12 months.
    A little off topic but how do you see your team shaping up without ronaldo and Tevez?

    If you think £8 a month is so little then you may have bigger problems in the future.

    Good Luck
    Please forgive me but:-
    Perhaps the reason some banks will only open certain accounts for over 21's is illustrated by this thread.
    There will be no Brexit dividend for Britain.
  • never-in-doubt
    never-in-doubt Posts: 20,613 Forumite
    In the top 2 - no team has ever won the league 4 seasons in a row - we could come close!

    Ermmm team have - maybe not EPL ones because they aren't that great lol!

    A few that spring to mind!

    Barcelona - 91 to 94
    Real Madrid - 74 to 80 & 85 to 90
    Inter Milan - 05 to 09
    Rangers - 89 to 97

    Now these are what I call classy teams..... unlike the scum of the north (no offence)....
    :o 2010 - year of the troll :o

    Niddy - Over & Out :wave:
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898
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    Ermmm team have - maybe not EPL ones because they aren't that great lol!

    A few that spring to mind!

    Barcelona - 91 to 94
    Real Madrid - 74 to 80 & 85 to 90
    Inter Milan - 05 to 09
    Rangers - 89 to 97

    Now these are what I call classy teams..... unlike the scum of the north (no offence)....
    They would not have done if they were playing in the same league as Utd. Indeed Rangers would not be in the top half of the table :rotfl::rotfl:
  • LydiaJ
    LydiaJ Posts: 8,083
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    Why do they say you have to be 21? Because they can. See Martin's blog for Wednesday 29 July (2009). Sorry it's being frustrating for you, but the suggestion to head over to DFW and get things sorted is good advice.
    Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
    Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
    Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
    :)
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