Some urgent advice

nafta_2

Hi all again after a long time....
I am afraid I need some of your wise advice again.
My situation is as follows


Salary monthly in my pocket...aprox £1200
overdraft £1670

now you can imagine i get overdraft charges etc every month!

I am currently trying to get back my penalty charges with the also very wise advice from consumer group....

My dilema is...
Can I open a new account somewhere else and get my money to be paid there plus all direct debits etc and bit by bit pay my overdraft...? can I do this?
My credit record is not great so I do not even know if any other bank will open an account for me.

Also...with all this bank charges I am claiming ...barckays may want to close my account anyway...waht happens then and even if they did not want to close my account can i do it with my overdrafts till to pay...can they freeze interest so I can repay? can I do this?

I am very comfuse and I need a lot of help!!!!!!!


PLease somebody come to my rescue...i am desperatly to start putting my finances in order!!

Nafta

Tallymanjohn

I think you'll find that if you have an overdraft with one bank, they will insist on you having your salary paid in to cover it, or that you clear it completely - the alternative, & what they would probably insist on/suggest is to convert it to a personal loan if you're eligible.

nafta_2

thanks for you advice!!

md_14uk

I would think that a 0% card is the way forward for you. Going interest free would mean you can pay off the debt sooner...

A BT of £1670 would clear your overdraft and mean you have more flexibility interms of where you hold you're account. Alternatively see Martin's page on Bank accounts and take a look at the A&L account which has a 0% overdraft for the first year... (and they guarantee to match you're current overdraft level i think)!

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1109610116,88950,