Have Gone £1500 Over My Overdraft With Guaranteed Cheques What Will The Bank Do?

the_taws_family_of_7

Have Totally Overspent At The Bank Have Opened A New Account For Our Funds To Go In And Direct Debits To Come Out And Am Organising My Debt With Cab But What Will Happen With The Bank As Have Guaranteed £1500's Worth Of Cheques Over My £4000 Limit And Each Cheque Is Receivinf A £38 Misuse Fee Which Ive Done Letters To The Bank To To Try And Reclaim But What Will The Bank Do?do I Approach Them Or Wait 4 The Letters?im Really Not Sure Help!!i Really Thought The Bank Would Stop The Card But They Havent,have Torn Up The Cheque Book So Cant Do Anymore If This Helps.

cattie1

i don't think will do much except charge you and possibly freeze the account, they will probably ask for some kind of payment from you to cover the o/d though

the_taws_family_of_7

you really are helpful would u suggest i ring them or wait for the letters to roll in im at a loss

Mrs_Sparkle

Do you mean you're £5500 overdrawn? I'd have thought they'll probably try to contact you asap but if I were you I'd probably ring them. Cattie1 is right- I'd expect them to ask for some sort of payment from you.

the_taws_family_of_7

Mrs_Sparkle wrote:

Do you mean you're £5500 overdrawn? I'd have thought they'll probably try to contact you asap but if I were you I'd probably ring them. Cattie1 is right- I'd expect them to ask for some sort of payment from you.

yes thats right £5500 about that that does include all the fees theyve added i think havent heard from them yet am expecting something monday/tuesday am hoping cab can freeze it then charges will stop and we can start paying the balance instead of interest worked out that have had a £4000 overdraft for 4 year and have been paying £50 a month interest not to mention charges left right and centre.cant believe ive been throwing all this money away should have gone to get help earlier i realise that now!

cattie1

the_taws_family_of_7 wrote:

you really are helpful would u suggest i ring them or wait for the letters to roll in im at a loss

aww thankyou:o
I think you are probably better off writing to them to explain your situation-that circumstances have changed and you realise you are in a bit of a situation, keep a copy of the letter for yourself and if possible post it recorded delivery so you have proof that you have contacted them, also ask them to freeze the account and charges etc and state you are willing to make a payment when you can afford it and will tell them in due course-also explain you are seeking help for your financial difficulties, I have to be honest though and they might be a bit nasty and unhelpful at first but just persevere (sp?)

Red_Fraggle_3

I would not use the cheque book again - all these shops with computerised tills - are linked and they will stop the cheque and take your card and book (this happened to me once - best thing that happended for me was with my friend that paid ofr the £7 tesco shop i was doing :-)

Your kids need you for Xmas not a load of stuff which they don't end up playing with - you say they are little well - little kids dont need alot
It's you ans your husband that want them to have a great day - My ex was like that with my DD now shes knows what I get her is for love not to show a great Xmas

cattie1

[QUOTE=£50_a_month_interest_not_to_mention_charges_left_right_and_centre.cant_believe_ive_been_throwing_all_this_money_away_should_have_gone_to_get_help_earlier_i_realise_that_now![/QUOTE]
I think you have done the right thing coming in here:money: -at least you are trying to do something about it, we have all been guilty of throwing money away at some point!;)

Mrs_Sparkle

the_taws_family_of_7 wrote:

yes thats right £5500 about that that does include all the fees theyve added i think havent heard from them yet am expecting something monday/tuesday am hoping cab can freeze it then charges will stop and we can start paying the balance instead of interest worked out that have had a £4000 overdraft for 4 year and have been paying £50 a month interest not to mention charges left right and centre.cant believe ive been throwing all this money away should have gone to get help earlier i realise that now!

Don't worry, there are plenty of us here who could say the same thing- we should have come to our senses a long time ago and stopped throwing money away on credit card interest etc. The important thing is that you're trying to sort it out now. Good luck.

the_taws_family_of_7

What Lovely People Im Really Grateful For Your Advice Atleast This Forum Might Keep Me Out Of The Shops And Off Ebay(buying)i Can Still Sell Cant I?

cattie1

the_taws_family_of_7 wrote:

What Lovely People Im Really Grateful For Your Advice Atleast This Forum Might Keep Me Out Of The Shops And Off Ebay(buying)i Can Still Sell Cant I?

see your already on your way to be debt free!!!