Can I close account if in arrears

more777

Hi all, looking for some advice on the best way to go.

While at Uni I had a student account with Natwest, when I graduated this then became a Graduate account and then a normal account when I got my first job. I had a graduate overdraft on the account which i never took off and so continued to use years later. I then got a job with another bank and had an account with them to pay my wages and so over the last couple of years have left the natwest account and just paid money in monthly to bring down the overdraft. Up until recently i was still using the account when short on money so not really clearing anything but the account charges about £40.00 a month in interest and i wanted to know , if i speak to the bank am I able to close the account while its in arrears and just continue to clear the outstanding amount. I cant afford to clear the remaining balance in full (about £1300) in one amount and pay about £80.00 into it each month.

Any advice please.

irishjohn

You have asked the wrong question - you cannot close an account which has a negative balance without paying that debt off. If your problem is not being able to avoid using the account then you should consider cutting up the card and destroying the cheque book if you still have one and letting the account stabilise until it has a zero balance then close it.

CHR15

I can't see what you are trying to achieve either.

Just stop using the account and drip feed it until the balance is zero.

It sounds like you simply cannot trust yourself to stop using it so are looking for some help. Just do as irishjohn said and cut the cards up.

onlypaddy

In short, no you cant

KingElvis

CHR15 wrote: »

I can't see what you are trying to achieve either.

Just stop using the account and drip feed it until the balance is zero.

It sounds like you simply cannot trust yourself to stop using it so are looking for some help. Just do as irishjohn said and cut the cards up.

That's the best advice in a "nutshell"