Halifax bank - spiralling overdraft charges

Napalm1983

My partner is having money troubles. She has around £1000 pounds in debt on her credit card (out of £1200), and for the past two months she's gone overdrawn on her current account.

Every time, they charge her £30, and of course the £30 sends her overdrawn so they charge her another £30. She'll be about £170 in debt at the end of the month.

We're struggling to find any way to get her back in the black before these new charges come through. We tried calling the bank up and setting up an authorised overdraft, but they refused due to bad credit rating.

Apart from pawning everything we own, is there any way out of this, preferably quickly?

Regards,
David.

tom188

Look on the reclaiming bank charges board regarding the charges.

Look on the debt free wannabe board regarding spending less and getting back in the black.

Sooler

12 month 0% overdraft from A & L

http://www.alliance-leicester.co.uk/currentaccounts/index.asp?page=premier-direct&ct=curracchome
Minimum age 21. £500 monthly funding & Internet access required


You might be able to get a £1000 overdraft with 0% interest if you open an account.

Pay off the credit card, then pay off the overdraft within 12 months.

Napalm1983

It'd have to be in my name in that case, she's only 19.

I'm thinking of getting myself a 0% Credit card, but is that such a good idea...?

tom188

Do not even consider paying it off for her until you fully understand the implications of doing so. ie that you will become solely liable for the debt, and she will have no responsiblity for it.

M_Thomson

Sooler wrote:

12 month 0% overdraft from A & L

http://www.alliance-leicester.co.uk/currentaccounts/index.asp?page=premier-direct&ct=curracchome
Minimum age 21. £500 monthly funding & Internet access required


You might be able to get a £1000 overdraft with 0% interest if you open an account.

Pay off the credit card, then pay off the overdraft within 12 months.

I doubt the poster will get this if they have a bad credit history.

Napalm1983

tom188 wrote:

Do not even consider paying it off for her until you fully understand the implications of doing so. ie that you will become solely liable for the debt, and she will have no responsiblity for it.

Last night when she was in floods of tears over this I was ready to get myself into debt to bail her out. I'm very very careful with my money, and I don't have any debt. Never had a credit card, no overdraft, no loans nothing.

After sleeping on it, I realised it's not a good idea to do this.