TSB, overdraft and loans

cleverinvestor

Everybody, many thanks for your thoughts. Never posted before so very kind of you all to provide some suggestions.

I've concluded a number of things:
I'll call the bank and tell them I don't want their mortgage that they want to sell me. Happy as it is.
I'll consider my EF position just in case the bank does call the over draft in. I'm not in a clever position.
I truly believe its a sells pitch too. For the decades I was with lloydstsb they never called me. Since the move to TSB I have a feeling they want to sell their own products. Their offer would make my situation worse, more outgoings over a longer period. Also the offer of 5 figures for a holiday or car. Seriously why would they offer me that if they are already trying to get the money back I owe them. Very daft.
My debts are in control, not increasing with them and I pay my wages every month, pay their charges and never go over the agreed amount.
The credit card will also be moved after the 0% ends.
Regarding my Indiana Jones treasure, I'll present it to my partner and kids this week and tell them it's theirs. Thank you all.

BMN

You probably got a call from somebody at your branch - they don't have the power to remove/recall your overdraft.

In certain circumstances it can make sense to consolidate your overdraft and credit card debts into a loan. It may lower your monthly outgoings and give an actual end date to you debts.

If it's not going to benefit you and she hasn't even bothered to shown you how it can benefit you then just politely decline.
(I have a feeling whoever you spoke to didn't do her research properly and missed that the credit card is a nice 0% at the moment).

CKhalvashi

BMN wrote: »

You probably got a call from somebody at your branch - they don't have the power to remove/recall your overdraft.

From what I understand, although for reasons mentioned on the previous page, it would appear that someone at branch level does.

One of my former homeless is in a battle with LBG over the closure of accounts, and the regulatory power in the circumstances, although completely different from OP's.

CK

jonesMUFCforever

CKhalvashi wrote: »

From what I understand, although for reasons mentioned on the previous page, it would appear that someone at branch level does.

One of my former homeless is in a battle with LBG over the closure of accounts, and the regulatory power in the circumstances, although completely different from OP's.

CK

Nobody at branch level would have the power to reduce or remove an overdraft WITHOUT good reason.
If the only reason here is that a customer has refused a loan to clear, they would get short thrift from the Ombudsman IMO.

Customers accounts at branch level are only closed if someone is abusive to members of staff - all the stuff about closures due to ''money laundering'' etc etc is done way up the line.