santander overdraft charges / account closure (URGENT HELP NEEDED)

thatsean

I've dealt with Santander myself, and they were good - given that the debt isnt huge they will likely be happy to sort out a payment plan. You need to deal with this now, not pi** about with letters - don't worry, they will send you "as discussed" letter to confirm the arrangement.

opinions4u

rudy691 wrote: »

getting in to more debt is not really a 'get out of debt' solution you know...

Was that your way of saying "thank you"?

Get on the phone. Apologise. Ask (nicely) for charges to be reversed. Agree a payment plan and stick to it.

DO NOT DEFER THIS ANY LONGER.

psychic_teabag

What kind of account is this ? For the everyday account, it looks like unarranged fee is £5 per day, capped at 20 days (£100). Arranged fee is £1 per day, capped at 20 days.

So maybe it's saying that on the 15th you'll have reached your 20 days and it will stop growing. If so, £80 of the £100 is already spent, as it were. Or is it saying that he 15th is the account anniversary month and therefore the day all the last month's charges are actually taken off. (Which could be bad news because then the £5 per day will start going again.)

Not sure what an underfunding fee is, though.

jpb77

Ask them to freeze further charges while you agree a payment plan with them. You must get them to agree to the freeze before the arrangement is put in to place. Then they will remove the OD facility once the account is back to £0. Explain to the bank the full story so they can assess the best way to resolve this, do not ignore the situation. You need to keep a good relationship with them. They will understand and empathise as many people go through difficult situations like this in life.

If you show to the bank you are willing to resolve this case as soon as possible, you will tend to find they are quite flexible. You will be dealt with by the collections department and they are more than likely to arrange for an increment OD decrease until £0 balance. i.e. agree to pay £20 per month = -£20 OD decrease per month.

You should be able to keep the card and account. Then when you're back on your feet with a regular salary going back in, give it 12 months before they can reassess you for an OD facility. You will tend to find you will now have a GD_0174 marker against the account = no OD facility until the next review - which is 12 months from account is cleared.

If they do not agree to this then the next stage is to send a complaint in to their Executive office, then if no luck go to the Ombudsman, but this stage is less likely as they need to follow their processes at stage one, which is to help you!