Halifax have put me in an awkward position

Paul_Herring

peachyprice wrote: »

So which is it

As I understand it:

(Halifax1) 2,000 OD limit, 1,900 used, 30/month
(Halifax2) 2,000 OD limit, 1,900 used, 30/month
(Halifax3) +1,500
(Barclays) 2,300 OD limit, 15/month
(Mum's loan) +500

Gross 'debt' (assuming OD fully used): 2,000+2,000+2,300 = 6,300
Net debt with Halifax including mum: 1,900 + 1,900 - 1,500 - 500 = 1,800

The theory (I think) being that the above list becomes:

(Halifax1) 2,500 OD limit, 1,800 used, 30/month
(Halifax2) 2,000 OD limit, 0 used
(Halifax3) 0
(Barclays) 2,300 OD limit, 15/month
(Mum's loan) -500

I hope I got that right. I'll edit if clarifications come out later.

Dan0956

thank you Paul, thats exactly what im saying. My total debt WILL NOT increase/decrease (the 500 from mum is actually a gift)

but my charges will go from £75 to £45 which will save me £30 a month in charges and will help me pay of debt quicker,

ive probably not been clear enough in my explanations

Dan0956

and just to add, my barclays which is 2300od limit hovers around the 2k mark each month and the halifax which are 2000 od lit goes from about 2k total (start of month) to 3900 total by end of the month. But i always have that 300 spare in barclays should i ever need desperation money

onlypaddy

i cant wait to see the thread when halifax decide they are lending you too much and reduce/withdraw the overdrafts.....

i stand by my original advice of cutting back and living within your means. post an SOA on the debt free wannabe board and you will get some more expert and practical advice

Dan0956

paddy, why dont you !!!! off with your negativatey and sarcasm, ive come here for advice not to be picked on by idiots like you

Paul_Herring

onlypaddy wrote: »

i cant wait to see the thread when halifax decide they are lending you too much and reduce/withdraw the overdrafts.....

Well to be honest, I'd suggest increasing the OD on only one account, and cancel the other account completely.

VanCrack

Obe Gold won the 3.15 at Southwell at odds of 5/6, i hope you took my advice.

onlypaddy

Dan0956 wrote: »

paddy, why dont you !!!! off with your negativatey and sarcasm, ive come here for advice not to be picked on by idiots like you

im not trying to insult you and quite frankly this post smacks of defensiveness

i think you know you overspend, you know you have to cut back and you just dont want to face it.

as seen time and time again, and quoting Martin Lewis:

onlypaddy

also....go to www.budgetbrain.com and follow that, its the new budgeting tool that MSE has released. should show you by how much you overspend

Siouxsie32

VanCrack wrote: »

Obe Gold won the 3.15 at Southwell at odds of 5/6, i hope you took my advice.

Nice one VanCrack - any other tips lurking in there?