need advice...again.

legoman

i will need to start paying off my loan in march with the first payment being £333. i am currently £1500 overdrawn with an overdraft limit of £750. these are dd's going out taking me well over.

my dilema is, i dont have the monies to return the account to normal and i surley need this to be in credit to start the loan being paid out???

any advice welcome.
many thanks,
mike.

Broken_hearted

I'm not sure what you are asking

Uniscots97

Not quite sure I understand OP but our overdraft limit is 750 and you're at 1500 you need to talk to the bank surely?

CLAPTON

you need to write a more comprehenisve explanation of the full situation..previously you have said you are on a DMP but have just taken out a 16k loan...was that before or after the DMP..whats happended to the 16K? and post a full SOA

legoman

sorry guys i'm at work and it's a little awkward to do this. i will try and make sense in the next couple of days.

thanks.

sgx.saint

No worries. Post up when you have time and know what it is you want us to help you with

legoman

ok, overdraft has a £750 limit and the account is sitting at £1500 in the red. so, £750 over the limit. on this account a loan will start to be taken out in march at £333 a month.

so, in march, £333 will leave the account. i believe that the account needs to be in the black for this to start... but it isn't, and i dont have the funds to bring the account back to normal. it has just been direct debits going out automatically taking it further into the red making it unauthorised borrowing...

i just don't know what to do. i work full time but it's not enough to help me pay...

help!

p.s. the £16000 has dwindled away over the course of many years and from loan to loan bank to bank etc... i will try to get back on the board over christmas..

thanks. hope that makes sense!

Kevicho

I think TBH your best bet is to post a full SOA, so that way we can look at getting your budget in shape so that you have chance.

I would contact the bank to see if you can get this overdraft extended, as i am sure you are paying some sort of charge for this.

Also if you feel you cant handle this on your own the CCCS or Payplan may be able to help you negotiate with your debtors

Good luck

Kev

Kevicho

Other tips include:

Sell anything you dont need on ebay.
Cancel Sky
negotiate prices or switch to cheaper utilities (while using something like quidco for cashback)
Get an A&L account and get the refer a friend bonus (is it still 50 quid each? not chedcked in months!)
Take sandwiches to work
Be more frugal with your food shop (if that means netto or lidl or whoever then so be it)

legoman

thanks for the advice... already shop at lidl and take food to work!! the bank wont help me, my manager just says you need to sort the account out... yeah, no s**t sherlock!!! i've got a bit of time... but have no idea what to do.

all my details are on here somewhere if someone can find them and i'll update it. it's on my pc at home, not here at work!!!

many thanks.