Overdraft Fees pushed into Unauthorized - worried as starting DMP

D9Vx

Hi all,

here is my dilemma...

My overdraft is at the Maximum, I am just wondering, the Overdraft fees have pushed my account into a few quid into the Unauthorized overdraft. This is the only transaction, so I am wondering if I will now have a unauthorized OD daily charge? caused by the planned OD fees.

MY DMP starts soon, the amount they will pay the bank is less than the normal Monthly OD Fees, so I am worried that this will create a never ending cycle of being in the unauthorized OD with fees growing exponentially.

Will this be the case (assuming they dont agree to freeze the fees/interest)? Or typically what happens in these sorts of scenarios?

Any advice appreciated.

moohound

Lloyds add £30 a month to my OD, and my payplan payment to them was £14.

I asked them to stop the charges but didn't get anywhere. I should have complained to the ombudsman but I was depressed and intimidated by them at the time (not now though)

To preserve my sanity, I looked at my DMP a a single debt, which was going down as a whole.

So £372 Paid a month, £15 added blackhorse, £30 added lloyds OD £ 20 added lloyds loan, £75 added lloyds credit card. They also did things like cancel the arrangement with payplan one day due to a technicality, add £135 in charges then reinstate it the next day. Which was nice for a bank I'd been with for 25 years.

Still going down and much better than the situation I was in before I took the DMP.

It does make me mad that the only ones left are the interst chargers, but they did not reply to my full and final offers. It think they want me to pay it forever more. Even In ancient Greece debt slavery only lasted 5 years:D

The other 5 stopped interest straight away.

It will be more from this month as I have made a lot of full and finals in the last two weeks. So those remaining get a bigger share.

Mine would have been over the limit on the first month with the fees added, but I sold a few bits of stuff online, and emptied a penny jar to take it just under.

It is over the limit now at £1550 the limit is £1400, but they only charge me interest and overdraft use fees not an over limit fee, don't know why.

We also had a joint account with an overdraft of £1600 which was going on the DMP, but a family member kindly gave us the money to cover this, this was to preserve my husbands credit rating,I am really grateful for this as it was with lloyds again.

Good luck with your DMP, don't let them push you around or threaten you, if they try, threaten them back with the ombudsman.