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0% overdraft expiring,,,what to do??
kcirtap9876
Posts: 3 Newbie
i have a 0% student overdraft with halifax but did not graduate so i am unable to get a post graduate loan to repay the amount owed. It was maxed out at £3000 but i managed to save £1800 as i am in the forces now and was away for a couple of months. i also have a house and car (which i need as i work all over the place) and am really struggling to clear the last £1200. what is going to be the best way to clear this debt without getting charged any penalties and the least amount of interest? Thanks in advance for your help
paddy
paddy
0
Comments
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Hi there, not sure what your credit rating is like as it would affect what you could get, but have you considered a balance transfer to another provider? It does mean the dreaded credit card, but if you could get say 15 months interest free with a new card/bank, and were committed to paying it all off before the zero percent ended, that might be an option to consider?
Az0 -
thanks but can you do a balance transfer from a debit card to a credit card i thought it was only credit card to credit card??0
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You want to look at a super balance transfer - http://www.moneysavingexpert.com/loans/cut-loan-overdraft-costs
Also, see if they will reduce the OD in stages. My friend did graduate but are letting him keep the 0% OD yet are lowering it by £500 every 6 months.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
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