Beyond overdraft limit.....if anyone can help me i'd be truly grateful!

mangoo

hi, i hope i've posted this in the right section.

i'm a med student and half way through my degree. but this year i decided to take a year out because of health issues. i completed my exams and am on pass and progress. my year out covers from sept 2010-sept 2011 when i hopefully will be ready to return.

however, my current situation is that i'm not fit to work (as assessed by my gp) and am currently going through the process of applying for ESA. whilst going through this process i have no income comming in, but still have direct debits to pay such as insurance and my PPC etc

In the summer of 2009, due to being unable to find a summer job i had to go to barclays to request my overdraft being extended to 1,500. In the academic year 2009-2010 ive stayed within these limits with my student loans. however by the end of the summer i went over my overdraft limit initally by 8p due to direct debits. So a combination of direct debits and increasing bank charges means im also at the end of my personal reserve. Im panicking because i still have outgoings and about to get more bank charges applied to my account. I just don’t no what to do for the best.

Please help!!!!!

ThinkingOfLinking

You can apply for a Crisis Loan from the jobcentre; if you have a landline phone it's a free 0800 number. The repayments will be taken back from your eventual ESA payments.

mangoo

Flickering_Ember wrote: »

You can apply for a Crisis Loan from the jobcentre; if you have a landline phone it's a free 0800 number. The repayments will be taken back from your eventual ESA payments.

thank you. i'm now getting support with the financial side of things.

brownsauce

dont know if this would help you at all but natwest do a professional development loan for students studying certain degrees.

medicine is on their list. they offer a loan of up to 20k which you dont start repaying until six month after your degree ends, but its at 8 or 9% interest.

might be worth looking into if you are really stuck

Oldernotwiser

brownsauce wrote: »

dont know if this would help you at all but natwest do a professional development loan for students studying certain degrees.

medicine is on their list. they offer a loan of up to 20k which you dont start repaying until six month after your degree ends, but its at 8 or 9% interest.

might be worth looking into if you are really stuck

You can't get a PCDL for a course where you already receive funding.

lordFSA

Oldernotwiser wrote: »

You can't get a PCDL for a course where you already receive funding.

"Is it the same as a Professional and Career Development Loan (PCDL)?

No. Professional and Career Development Loans aren't usually available to medical students, as they are only supposed to be available where other sources of public funding, like students loans aren't available. If you can get Student Loans you can’t get a PCDL but you may be able to get a Professional Studies/Training Loan. "

http://www.money4medstudents.org/content.asp?id=73

southoftheriver

Oldernotwiser wrote: »

You can't get a PCDL for a course where you already receive funding.

The Natwest loan is available to medical students as it is different to a CDL, I am considering one myself so have been researching.