Halifax student overdraft

Jenhanrrr

Hi, just a quick question as I want to ring the bank but don't want to get into a conversation until I know my rights.

I have a student overdraft of £3000. I graduated 18 months ago but haven't been working as I was pregnant, then at home. I've only recently started working again but only earn about £650pm. The bank sent me a letter last month saying that they were going to start charging on my overdraft, £2 per day = £60 pm.

I paid in £70 last month but really all I paid off was £10. This is debt I can never see myself repaying at this rate. I was going to ring to ask if they can even hold off the fees for 6 more months but they will most likely say no as they are a terrible bank. Is there anything I can do? I can probably afford to pay off £70-100 per month but just the fees would kill me

Petlamb

I'd suggest a chat with someone like StepChange Debt Charity. They won't charge you and they'll work out what your current budget should look like, then work out what can be repaid. In addition to that, they supply the basic letters you'll need to send to any creditors (Halifax in your case) to state what the situation is and ask for a freeze on charges. They may still refuse, but sometimes seeing that you've went and taken some debt advice means they take it more seriously.

Good luck with it x