What's your opinion? Being overdrawn.....

Glitterari

Haven't read whole thread because don't have time.

I don't have an OD anymore but could probably get one if I wanted. I'm a MA student and despite being totally broke up to last week, I didn't go and get one because I knew it would just be another debt.

It's your colleagues look out what they do with their money and they sound terribly naive and misguided. But at the end of the day it's up to them what they do with their cash - if they can't be bothered to sort themselves out and shopping around for the best deals, well they're a bit dinny really.

At least you're not like that. Just bear that in mind xxx

babes21

immoral_angeluk wrote:

We don't have one, full stop. We were offered and refused. Every month our money goes in and is ours, not the banks, and we've never been in the red.

Yep, same here.

Brassic

I do live in it, but it's not something i'm proud of. Once I get my charges refunded (I'm being positive here saying when not if) then I'll use that to pay off all my Overdrafts and then close down 2 accounts, and get rid of the OD on the other one. Your friends will come to their senses one of these days and then be jealous of your Debt Free Status as I am

MABLE

I have an overdraft facility of about £8000 but can be useful for the big purchase but normally never use it. Its quite strange how I ever got this in the first place as according to LLoyds I am a risk 9 which means I am very high risk. Oh well funny old life.

jillie1974

i have OD of £500 and do use it all the time bit am from Jan goign to reduce it every month even ifs by £20 its one less debt!

SunderlandBlackCat

This is only the second time this year my current account has made it into credit & I will have to make a choice between only paying part of one of my my cc balances or paying it in full & going around £200 overdrawn.

Hopefully this will be the last time though as regardless of which way I decide next months pay will be enough to keep me clear on both counts.

Phoenix79_2

I've got an overdraft of £2.5k with Natwest but the most i go overdrawn is by £100 just before payday. Its nice to have as an absolute emergency though.

richardvc

georgiasmum wrote:

I was bragging to my work colleagues about becoming debt free recently and have been helping another (on the sly) who is in serious £££ trouble with the advice I have gained on this site and the subject of overdrafts came up.

They were telling me that they 'live in their overdraft', 'my overdraft isn't covered by my salary' etc etc and they weren't concerned at all. In fact they mocked me mercilessly because I have £500 o/d only. I feel guilty if I use it and my salary more than covers it but it does help in unexpected disasters and it is competitive (imo)

What do you think? Are you worried by your overdraft? Am I I mad to be worried about it if I use mine? One lady actually said that 'they' (Halifax) wouldn't want me as a customer for much longer if they didn't start making more money out of me....

Without wishing to be judgemental about your work colleagues, I think that describes the British view about debt in today's society.

I'm sure that you don't take any notice of them but them mocking you is a rather sad inditement. I'm sure they are far happier than you when they give a proportion of their earnings to the bank each month and then get charges on top of that. More fool them !

Regarding your initial point, I haven't got and wouldn't want an overdraft. It just makes you more dependant on your bank and before you know it, the temporary overdraft is a permanent fixture. No thanks, I may owe money but my debts are going down not up !

Brassicks

This time last year i had a 500. pound overdraft.....In Feb it was stopped by bank,which i had not been informed of,hence im now on a DMP...so just be wary,your banks can withdraw it at any time,even if they dont inform u.

lil_me

I don't have one but DP does and we did used to live in it pre getting sorted. Only £300 so income covered it, not as if was thousands.