Santander Overdraft Help!

paul19_2

Hi,

When I was 17 I opened a bank account with Santander, I was not a student however the woman insisted I got a student account.

When I was then asked if I wanted an overdraft I said no! However a few months after using my account (getting paid max £500 a month as I was working part-time) I found myself to have a £1,200 overdraft.

I foolishly spent this money, and ever since have been trying to pay it back, however Santander demand that to pay it back I must pay it either all in one go or at an amount per month which is too much for me to afford, with rent and other out goings.

I have spoke to lots of people from santander who have confirmed I will not be charged any interest due to me not have the means to pay this debt, I have also paid part of it off, however they have now written to me and claimed my debt has risen again and that they have got debt collectors involved and I must pay it immediatley.

I was just wondering what I can do baring in mind I was under 18 when they gave me an overdraft and made it quite clear that I did not want an overdraft.

Also the fact that I have been told numerous times I would not be charged interest, but yet again that has turned out to be untrue.

Please give me any advice possible.

Thank you.

bengalknights

You could request a copy of agreement and take it down the long road.

thatsean

If you didn't want the overdraft, you could have not spent the money. Just thought I'd throw that one out there. Why don't you ring the bank, take responsibility for your own actions, and make an arrangement to pay the money back?

innovate

You don't mention how old you are now, but it seems quite possible that Santander have now run out of patience and handed the matter to a debt collection agency. Your best bet is, without a shadow of a doubt, to settle your debts with urgency. The longer you leave it, the worse it will get.

paul19_2

Thatsean

Thanks for pointing out the obvious, if you read it I said I "foolishly" spent the money, as I was only 17 and that was a lot of money. It also says that ever since I have been trying to pay it back, and set up various methods to pay the money back, but they keep asking for amount of money which I can't pay as I don't earn enough.

I have taken responsibility, and I was just asking what I could do about them saying there would be no more interest, and then passing it on to a debt collecting agency.

So thanks for your advice, but next time just read what I put properly and don't just assume I am trying to pass the buck on a mistake I am well aware I made

thatsean

Which is why I said. "Ring them and make and arrangement"

You seem to have missed that point. I'd say the best thing for you is if it does go to a dca, they are more likely to let you pay the balance off over a longer period. At the end of the day, the bank don't have to offer you a payment plan, and if they do, it will be over a shorter period than a dca, that's why the accounts get farmed out to the dcas.

Have you anything in writing to prove that you were told no interest would be added?

jonesMUFCforever

Sorry OP but I think you are a troll.

If you were 17 even Santander's systems would have not provided you with an account with an overdraft facility - let alone a student account when presumably you showed them no proof that you were a student.

jonesMUFCforever

Funny thing is that as soon as I say TROLL he stops posting!

dtaylor84

jonesMUFCforever wrote: »

Funny thing is that as soon as I say TROLL he stops posting!

Whether a troll or not, being called one is certainly off-putting.

jonesMUFCforever

dtaylor84 wrote: »

Whether a troll or not, being called one is certainly off-putting.

Not if you are genuine and not a total waste of space.

Anthorn

I think it's very bad that new people are accused of being trolls without any evidence whatsoever not just in this thread but in many other threads. That prompts me to regard such accusers of being trolls themselves because that is the mark of some trolls.

I do agree that the minimum age for a student account at Santander is 18 years but it's not impossible for any bank to waive their requirements in certain circumstances. It's not a matter of the law of the land!

To the OP: The legal age at which a debt can be reclaimed is 16 years so since you were 17 at the time Sandander is within their rights. But Santander is no different to any other individual or company, they can't have money you don't have. If your wages are going into that account, open an account elsewhere and have your wages paid into that account. Then write to Santander with an offer of regular payments which you can afford.