Unauthorised Overdraft

C4SH

Hiya,

Well quite some time back I did the silly thing of taking money out of my bank machine using an unauthorised overdraft, initially I think I took out £300. As time grew on, the bank charges started to add up and I have recently recieved another letter from HSBC asking for a proposed plan of repayment for my now £550 unauthorised overdraft.

I am just after some advice really, would it be advised to send them a letter explaining that I wish to pay £30 per month? If I was to do this, could they still keep sticking the massive bank charges ontop of me? I know £30 a month isn't alot, but my current situation does not allow for much more.

Thanks.

savingmummy

Yes you need to arrange repayment, only offer what you can afford though so ensure your leaving enough for priorities. charges will still be put on until its cleared unfortunately.
Have you income going into the bank account? or are you no longer using it?

C4SH

savingmummy wrote: »

Yes you need to arrange repayment, only offer what you can afford though so ensure your leaving enough for priorities. charges will still be put on until its cleared unfortunately.
Have you income going into the bank account? or are you no longer using it?

I stopped using it, for that very reason. Thanks for the reply by the way.