Can I close bank account with an overdraft?

Grapefruit_2

Does anyone know if I am able to close my bank account with a high overdraft?...I am getting charges that I am not able to now keep up with. If I stopped paying them would I then be taken to court where the bank would have to accept a payment that I am able to afford?

zppp

Grapefruit wrote: »

Does anyone know if I am able to close my bank account with a high overdraft?...I am getting charges that I am not able to now keep up with. If I stopped paying them would I then be taken to court where the bank would have to accept a payment that I am able to afford?

You cannot close an account until you pay the balance. I would reccomend sending in a statment of affairs and make an offer to make a monthly repayment, to stop the account from getting worse from snowballing charges.

samjef11_2

zppp wrote: »

You cannot close an account until you pay the balance. I would reccomend sending in a statment of affairs and make an offer to make a monthly repayment, to stop the account from getting worse from snowballing charges.

Lol i have learnt somthing too also nicely put it snowballing charges can just see the mangers makeing money snoweballs lol.

Mark_In_Hampshire

Depending on your conduct and persuasiveness (!) and how friendly the bank is, and how long you've been with them - is going in and asking them to downgrade the account to a basic one with no overdraft and at the same time converting the overdraft to a loan an option?

paulmcerlean

Other than the above advice, the bank will not allow you to close without paying the overdraft - other than defaulting, which would be bad news.