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Santander o/d
shopaholic2
Posts: 637 Forumite
Hi, really stuck in a rut here. We have an account with Santander which we no longer use but it has an o/d of £2400. Well actually it doesn't cos they've now cancelled the o/d.
We've been paying £50 per month for 4 months but now they want it ALL back in one go.
Impossible for us, although we can keep paying £50 unil things improve & maybe increase the amount.
Santander are threatening all sorts now and I'm worried.
If they take us to court would be look favourable on us that we've been paying this amount regularly?
I'm going to write to them & offer to continue the £50, I know it's not much (to them) but its a lot to us. We've already done the income & expenditure with them which showed we would struggle to find the £50 but we've done it!!
Any ideas?
We've been paying £50 per month for 4 months but now they want it ALL back in one go.
Impossible for us, although we can keep paying £50 unil things improve & maybe increase the amount.
Santander are threatening all sorts now and I'm worried.
If they take us to court would be look favourable on us that we've been paying this amount regularly?
I'm going to write to them & offer to continue the £50, I know it's not much (to them) but its a lot to us. We've already done the income & expenditure with them which showed we would struggle to find the £50 but we've done it!!
Any ideas?
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Comments
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I know this doesnt help, but you can understand why Santander want their money back if you are no longer using the account. I think most overdraft facilities can be withdrawn at any time and they can demand payment back.
Are you now banking with another bank? Maybe Santander would be willing to re-instate the overdraft and a repayment plan if you agreed to start using the account again?0 -
Yeah you're right it doesn't help but I do know what you mean! They wouldn't let us back & we wouldn't go back, hate them. Just wish we could pay them off, but these days it's very hard.0
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Could you get a loan that costs less than the overdraft does? Or an overdraft at your new bank?0
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Sadly no, and no. Thanks tho.0
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Have you spoken to their debt management team? Not sure £50 p/m would be enough on a £2400 no/d, but you can go through your I&E with them, and they can then advise you the best route to take. If you do this, all charges are suspended too. Or have you tried the cccs for free advice? Just a couple of thoughts!! Good luck!:beer: Live well laugh often, love much.
1 overdraft with Santander paid off, credit card almost gone, 1 overdraft that has been halved!! V chuffed with myself!!! :T0 -
shopaholic2 wrote: »........we wouldn't go back, hate them.
You must have liked them, when they let you have all this money.
You should have hated them earlier and not pocketed their 2.4k.
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