reclaiming overdraft.

ath_2

hello, i am a student and i have a student account which has an overdraft limit of £1500 this is set for 3 years while i am a student. The other day i had my student loan in of £2500. i took £1000 out as i had to pay bills and rent and pay for tution. This left me only my overdraft allowance left in the account. I went up town to day and i realised that lloyds had taken my overdraft away from me leaving me with £0.00 in my account are they allowed to do this and if not is there anyway of reclaiming it? I have rung them and they have said they sent a letter to my home address but i am living in a student house so didnt recieve it.

I now have no money for 2 months until my next lot of loan comes in so i can't pay my rent, tution or buy food if anyone could help it would be much appreciated.

Thank you.

beambeam

My brother had a similar problem but for a smaller yet still significant amount with RBS in Sept/Oct just past - he called his branch and asked for an explanation and was met with complete confusion as to why this would happen since he is still a student. I used to find Lloyds quite difficult to deal with over the phone on their student helpline/services number so I'd definitely try and speak to the people at the branch you opened the account with and endeavour to sort it out there rather than get fobbed off and told to make a phone call.

ath_2

cheers for the reply i called them yesterday and they didnt help one bit. I was ont the phone for easily 1 hour and got no where so i think i may have to go in today if it ever stops snowing.

lincroft1710

If I misunderstand the way overdrafts work and also your post I apologise (I'm old).

As I understand your post, you owed LTSB £1,500 (you had spent up to your overdraft limit) and paid in £2,500. This would leave your account £1,000 in credit. But you in fact spend this £1,000 so your balance would be nil. Any further spending would be on your overdraft.

ath_2

You are correct this is how overdrafts work lol. Howerver i signed a contract saying that i would have a £1500 overdraft for 3 years and its only been 2 and abit. I havent finished uni yet and i kinda need that money to pay for rent and food. I wouldnt mind but my only source of income comes in 3 times a year and equates to £6000 so losing £1500 is kinda a lot.