Repay Overdraft

RedPoppy_3

Hello,
Please could I ask for some advice. We went to our bank about a year ago and asked them if we could set up a plan to pay off our overdraft. They were upping it all the time, sending us letters saying that we have qualafied for a bigger overdraft and then they tried CC (which I sent back as we did not order them) and things were getting out of control. We have payed up on time every month. Now things have changed and we went to the bank to ask them to lower the payments for a couple of months as it is leaving us too tight and making us fall behind on other payments. They have said that because we went to them to pay it off they will not change it. They decided how much we have to pay each month and we have signed no aggrements or had anything in writing. It has got so bad that family are buying me bread and milk and I have never been so ashamed in all my life. But the bank are not willing to budge to help us over the next couple of months (we have explained it is only untill Feb, when I will be starting paid work once I am qualified!)
Anyway, does anyone have any suggestions please as to what i can do, I do not want to ignor the payments as we will get ourselves in more of a mess.
Thank you for taking the time to read, and I hope it makes sence!

chesky369

What sort of numbers are we talking here? Bit more information needed - i.e. how long is it taking you to pay off the overdraft - how exactly are you doing it? Through savings?

RedPoppy_3

I have £850 left to pay out of the £3000 i owed them. The money then comes direct out of the wages on the day they go in and comes off the total. We only have the one joint account that all the money goes in/out. They have told my husband on the phone that we have to have it paid up now within 5 months, OR we can get a loan to do it! When we went to them we handed all our cards and cheque books back as they reqired us to do this before we could pay it off and in return they said they would not charge us anything, but they have and we are still arguing that one to this day.

chesky369

I must say the sums don't seem inordinately huge to me, except of course if you went overdrawn in the first place without permission. (If that were the case, I'm surprised they let it get that much.) You don't say how long it's taken you to get to the £850 stage but good for you. It must have been hard going. If you have to pay it back in five months that's getting on for £200 per month, so I wonder whether getting a loan from them might not be a good idea if it's the only solution left to you.