im here again :-(

LolStevo

So i had finally sorted myself out and was living within my means, then me and oh moved in together and had a baby then he got laid off from work so i applied for overdraft with my bank (Halifax) and they gave me £1800!!! and within months it was upto its limit and ever since iv been upto the limit!

anyway i hate the way halifax has changed, the available funds is never correct so it seems i go over and get charged even tho i take what it tells me i have!

so i want to sort myself out now so iv opened an account with natwest and been accepted for a select account (no overdraft!!!!!!) and im gona transfer everythin over!

now what can i do about halifax??? n if we were to join our accounts would my bad credit rating affect his for the future? (we would like to buy a house in a few years!)

also i have my daughters savings with halifax and when iv looked on natwest there is only 1 savings account which has crap interest compared to the 7% she gets now!

any advice for me??? x

LolStevo

can anyone help?

MrsTinks

You need to be the one in charge of what is in your account, not relying on what Halifax says are there as available funds as there may be charges processing that have not shown up yet - this is where budgeting comes in... You've done it before, you can do it again!
Don't get a joint account right now - yes your credit "rate" would affect his if you had joint products... although a mortgage IS a joint financial product so when you get to that stage it's much of a muchness I guess First though you need to clear the OD and get some savings stuck aside - I would suggest setting yourself an aim of 10% deposit + some for fees and moving costs (so often forgotten to account for). By the time you have stuck this aside you should have had time to repair your credit file and any over the OD markers there may be should be old enough to not have as much effect on you

tallyhoh

Dont know if this still applies but I have read stories about banks taking childrens money against parents debts (when in same bank). Might be worth just checking this doesnt happen.

poppasmurf_bewdley

LolStevo wrote: »

So i had finally sorted myself out and was living within my means, then me and oh moved in together and had a baby then he got laid off from work so i applied for overdraft with my bank (Halifax) and they gave me £1800!!! and within months it was upto its limit and ever since iv been upto the limit!

anyway i hate the way halifax has changed, the available funds is never correct so it seems i go over and get charged even tho i take what it tells me i have!

so i want to sort myself out now so iv opened an account with natwest and been accepted for a select account (no overdraft!!!!!!) and im gona transfer everythin over!

now what can i do about halifax??? n if we were to join our accounts would my bad credit rating affect his for the future? (we would like to buy a house in a few years!)

also i have my daughters savings with halifax and when iv looked on natwest there is only 1 savings account which has crap interest compared to the 7% she gets now!

any advice for me??? x

I have a Halifax current account, and you can only take out of your account what is cleared. Go to a cash machine and the screen might tell you you have a balance of £x but you can only take out £y.

In addition, each Halifax cheque book allows you to keep a running tally on what you have put in and taken out of the account.

You can't blame the Halifax if you are incapable of checking how much available cash you have. Your phrase "I take what it tells me I have" is very telling. You should only be taking out what you need for a specific purpose, not putting your hands on as much cash as you can without giving an thought of what will happen tomorrow.

Nobody has the excuse that they don't know how much is available in an account unless they are being totally stupid and closing their eyes to what the situation really is.

natlie

Hi
I think others are right here - you do need to be in charge of your own account and the spreadsheets on here will help you, the bank wants you do be in debt so they can charge you. You need to do a budget and make a payment to halifax to get rid of the overdraft. Dont do joint accounts if your credit is bad, how are his finances? is he still unemployed? it may be worth you asking - you dont want him getting any bad debt if you want to get a house. With the savings I have a Post office investment Acct for my eldest (pre trust fund) DD2 has a post office Acct and a stakeholder trust fund acct (riskier option) DS has a junior bond and we lend via Zopa which gives us an average 9% interest rate but is again risky

vasseur

You need to keep a note of everything you have coming in and what you are spending.

I use a cash book and it goes everywhere with me. On a monthly basis I write down what's been paid in and what I have going out that month even if it hasn't come out yet (DDs, debit card payments, cheques). My running total is NEVER the same as what my bank tells me I have but I know down to the penny what I've got.