Graduate overdraft - What to do?

Fay_elizabeth

Hi All,
I could do with some advice, I've done several searches and I'm still not sure about what to do about my overdraft.
I'm overdrawn £3000 with Barclays and currently hold a graduate account, luckily it is interest free up to £3000 for the first year after graduating but my first year comes to an end on 26th June 2010 and then only £2000 of my overdraft will be interest free.
I work three jobs to try and repay the overdraft but I fear I won't be under £2000 overdrawn by June. What would you suggest I do?
I was wondering if I could perhaps split the overdraft between banks, but I'm not sure whether you can do that, or if its the best option?

What would you do in my position?

Lokolo

You won't likely get a big enough overdraft to split it across numerous banks.

And being in your overdraft and not paying off (if you moved part of it to another bank) will likely mean the bank will withdraw the overdraft and demand immediate repayment.

I would just be ploughing money into it as much as you can. Budget excessively over the next 6 months to pay it off.

mumtoj_2

Hi, you need to find out what the interest would be on the non interest free part of overdraft after june you then need to work out how much you think you will miss the £2,000 by and how long it will take you to get under £2000 you can then start to work out if there are better options for you.
My first action once you have worked that out would be to approach the bank and see what they can offer if some or all of your wages have been going in to this accountand they can see you are now working they maybe willing to offer you options.

jonesMUFCforever

Will they offer you a Graduate loan for the £1000 that will soon be charged?