Student Overdraft Interest ..Please help me!!

FizzyYoung

Omg, I'm on £250 a month and have just been turned down for a loan to repay my student overdraft which THEY offered me!

They asked me a series of humiliating, probing questions, kept me on the phone for half an hour at MY expense, only to turn me down!!! ....AND they had the cheek to say that they are responsible lenders!!!
It stands at 1,406 currently and I am paying £30 a month of which £27 is interest ..what can I do??
I worked out it will take me 40 years to pay it at this rate and in that time the bank will make over £56,000 out of me _pale_ Please help me!!

JanineB

That's SHOCKING!!! Who are you with?

Lokolo

They are responsible lenders, hence why they're not giving you the money.

There are many bank accounts which offer lower rates and so fourth, have you tried looking at other bank accounts?

FizzyYoung

JanineB wrote: »

That's SHOCKING!!! Who are you with?

Lloyds TSB

FizzyYoung

Lokolo wrote: »

They are responsible lenders, hence why they're not giving you the money.

There are many bank accounts which offer lower rates and so fourth, have you tried looking at other bank accounts?

Honestly, do you think it's responsible to keep 27 pounds of 30 paid ? Cos i most certainly don't and note, they are quite happy to take my 30 pounds and not say anything about that!

JanineB

My other half used to work for Lloyds TSB call centre in Glasgow. Ill see what he makes of this when i get in.

I do know however that he moved job and house this month and as a result defaulted on one loan payment. They then tried to say they were taking his £2800 overdratft off him due to that. He was terrified. I think its still active thankfully so far......

Like I said I'll have a word and see if this is normal. It sounds pretrty hefty though!

Can you not move to another bank? That's what I'd try and do firstly. Im with RBS and they give you 3 years interest free as a graduate and gradualy reduce your O/D by something like £300 a year.