Reduction in overdraft - unable to pay back - advice please

oneproudmomma

Hi,

I'm new to the forum but was hoping that somebody would be able to answer a couple of questions.

My husband has no income and Nationwide have just reduced his overdraft by £120 effective from the end of this month. The account is in his name only. Can anybody advise me on what course of action Nationwide may take against him if he is unable to raise the funds to cover the £120?

We also have children's accounts with Nationwide which we are both signatories on. Would they be able to take that money to clear his debt?

Thanks.

pjjafc

oneproudmomma wrote: »

Hi,

I'm new to the forum but was hoping that somebody would be able to answer a couple of questions.

My husband has no income and Nationwide have just reduced his overdraft by £120 effective from the end of this month. The account is in his name only. Can anybody advise me on what course of action Nationwide may take against him if he is unable to raise the funds to cover the £120?

We also have children's accounts with Nationwide which we are both signatories on. Would they be able to take that money to clear his debt?

Thanks.

Hi,

I worked for HSBC a few years back and eg.. If someone was overdrawn and they were on the brink of returning a direct debit as no funds available they would take it from a childs savings account if it meant the direct debit would be paid.

I know its HSBC and not Nationwide but they might well do it. I personally would pop down to my local branch to have a word with someone before you even get to that stage

oneproudmomma

Thanks for that. They won't talk to me as the account with the overdraft is not in my name.

The children's accounts are however, and I don't really want the bank taking the kids money to pay my OH's debt. I'll see what I can do to protect their accounts.

CLAPTON

pjjafc wrote: »

Hi,

I worked for HSBC a few years back and eg.. If someone was overdrawn and they were on the brink of returning a direct debit as no funds available they would take it from a childs savings account if it meant the direct debit would be paid.

I know its HSBC and not Nationwide but they might well do it. I personally would pop down to my local branch to have a word with someone before you even get to that stage

this is amazing and illegal