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Can the bank just take my overdraft away?
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Thanks again.... bump!!0
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As others may have said already, the terms of most overdrafts are such that the bank can withdraw them at any time and ask you to pay up.
I would be very wary of using your overdraft as an 0% loan unless you have the money to pay it off sitting in a savings account or similar.
The best plan is probably to scrimp next term. If you're in lowest band you get £2100. Take advantage of the fact you get student loans as a lump sum and stock up on food - if there's an offer on tinned stuff or pasta at the supermarket I just buy a term's worth there and then. Sorted. Can get 3 months food for £300 without too much effort. £1200 for accommodation and utilities (if yours is much higher than mine, I feel sorry for you) and you're sorted. Save the rest.
A pound spent is one you'll never see again.Said Aristippus, “If you would learn to be subservient to the king you would not have to live on lentils.”
Said Diogenes, “Learn to live on lentils and you will not have to be subservient to the king.”[FONT=Verdana, Arial, Helvetica][/FONT]0 -
Thanks guys!! The bank actually DIDN'T take my overdraft away! My overdraft showed up online as -£200 (even though I had money in my account). Because of previous dealings with banks, I really hate talking to bank staff, so wouldn't go in lol. But my bank statement came through and it said I had a £200 overdraft.
They really should teach you this kinda stuff in schools or something.... I'm bloody awful at understanding bank statements and stuff! LOL! x0 -
curiousone23 wrote: »They really should teach you this kinda stuff in schools or something.... I'm bloody awful at understanding bank statements and stuff! LOL! x
Schools don't teach a lot in my experience. I'd take it as an opportunity to read up on your own and learn before you're forced to.Said Aristippus, “If you would learn to be subservient to the king you would not have to live on lentils.”
Said Diogenes, “Learn to live on lentils and you will not have to be subservient to the king.”[FONT=Verdana, Arial, Helvetica][/FONT]0 -
curiousone23 wrote: »Thanks guys!! The bank actually DIDN'T take my overdraft away! My overdraft showed up online as -£200 (even though I had money in my account). Because of previous dealings with banks, I really hate talking to bank staff, so wouldn't go in lol. But my bank statement came through and it said I had a £200 overdraft.
They really should teach you this kinda stuff in schools or something.... I'm bloody awful at understanding bank statements and stuff! LOL! x
The country is doomed.0 -
Presumably the OP is not studying accounting and finance then
No free lunch, and no free laptop0 -
Have you looked into Access To Learning? My daughter got financial help from them when she had problems. Might be worth looking into. My daughter recieved £700 from them.
http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/Extrahelp/DG_1716150
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