Overdraft!

Tayus

Is it just me or does everyone else seem to be constantly in their overdraft? No matter how hard i try i can NEVER get out of it!

kevin_M

the temptation is allways there... i can say from hitting my lightbulb i have never touched my overdraft again.. i still have it tho just incase

oops_a_daisy

I used to be always in overdraft till I came on here and paid it off

elantan

unfortuantley i live in my overdraft..it have now classed it as debt since my l.b.m ..but it's gonna be a hard one to pay off ..as soon as i have a spare £50 i will need to make sure i bring it down ..but i also know i can up it again when ever i want to ...so i'm thinking just save the full £2600 and pay it off then shut down the facility to use it

lynsayjane

i can't say i remember the last time either of my current accounts were in the black. hoping by this time next year though they and my cc will be dealt with!

tesuhoha

I managed to pay mine off after a lot of effort but just today I had a bit of a setback where I was near my 0verdraft limit so tried to transfer money between accounts to avoid charges. Result: got charged £30 on one account and £35 unpaid on the other. They did not pay an important credit card bill and it was only cos I checked on internet banking just now that I transferred some funds over and made the payment again. Am going to write them a stinking letter tomorrow.:mad: F......ing b.........s. I hate them so much.

Imelda

Hi Tayus,

I don't know about you but I didn't really see my overdraft as a debt in the same way as a credit card, coming on here changed that! Also, I used to think, oh well I'm £1000 overdrawn another £10 won't hurt. Whereas now if there's not £10 on my account I can't have it (and always seem to make do). I do still have an overdraft facility on my bills account just in case my standing order fails so that all my dds can be paid but I haven't had to use it for 3 months now. The method I used to pay it back was to reduce the limit each month by £50 (so that I couldn't run up an overdraft more than the month before) and also tried to save some money in a savings account. Then when the od limit and my savings account were equal I paid off the od and closed the facility. All my other debts were on 0%.

Good luck paying it off!

FatJock

Hi Tayus,

Just a quick note to wish you good luck with this.

I lived in my overdraft for 10 years building it up to 3k. I got rid of it last December and have not touched it since (touch wood). I think Imelda's approach is a good one to take if you can do it. Try and build up a small pot of cash and reduce it on a regular basis. Sounds simple but I know how hard this can be to achieve.

Keep chipping away and good luck.

Regards,
FatJock

Macduff_3

Overdrafts are a nightmare. My student o/d was £2400 and in the end Natwest took my card etc off me and gave me a loan to pay it off. I used a building society account while I was doing this and got the hang of living in the black. I now have a £50 o/d to guard against bank charges if a DD goes wrong.

mintymoneysaver

They are dangerous things!I am trying to cut mine down each month, although I haven't actually cut it down with the bank, just in my head.I am getting there, but you really do need to say that's not my money, I can't spend it!

yeslek

i went to uni last year and purposely havnt applied for a student account for the ridiculos overdraft's.

i have an OD of £100 due to a short fall at xmas but never let myself go over £50 (which is free) but i hate the idea of being in the minus as it doesnt feel like its my money, its the bank's.

basically i'd rather bounce around the -50 mark and back up again every month than every consider a larger OD (they tried increasing to £300 but i soon put that back down)