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Barclays' new overdraft charges - will be 10 times what I'm paying now
Comments
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What's SOA?{Removed by Forum Team}0
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Have you tried Security OP?
I know the shifts are long (typically 12 hours) and unsociable (night and weekends, often rolling) and the wage rate not brilliant, but 60 hour a week, even at minimum wage, is still over £380pw, before stoppages.0 -
definitivefreak wrote: »What's SOA?
Statement Of affairs.
http://www.stoozing.com/calculator/soa.php0 -
Here's my SOA
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 4
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 310.7
Other income............................ 0
Total monthly income.................... 310.7
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 50
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 17
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 15.8
Groceries etc. ......................... 40
Clothing................................ 0
Petrol/diesel........................... 60
Road tax................................ 16
Car Insurance........................... 25.91
Car maintenance (including MOT)......... 5
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 40
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 279.71
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 600
Other assets............................ 0
Total Assets............................ 600
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
overdraft 1....................171.05....28........18
overdraft 2....................236.78....0.........18
Total unsecured debts..........407.83....28........-
Monthly Budget Summary
Total monthly income.................... 310.7
Expenses (including HP & secured debts). 279.71
Available for debt repayments........... 30.99
Monthly UNsecured debt repayments....... 28
Amount left after debt repayments....... 2.99
Personal Balance Sheet Summary
Total assets (things you own)........... 600
Total HP & Secured debt................. -0
Total Unsecured debt.................... -407.83
Net Assets.............................. 192.17
Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.{Removed by Forum Team}0 -
definitivefreak wrote: »Here's my SOA
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 4
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 310.7
Other income............................ 0
Total monthly income.................... 310.7
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 50
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 17 - You could cut this back to about £10 with PAYG/sim only.
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 15.8 - Have you considered a 3 Dongle. The data limit wouldn't be much (1GB), but it would only be £10.
Groceries etc. ......................... 40 - Per month? Is that all?
Clothing................................ 0
Petrol/diesel........................... 60
Road tax................................ 16
Car Insurance........................... 25.91
Car maintenance (including MOT)......... 5 - This is only £60, which is little more than the price of an MOT.
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 40 - What does this cover?
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0 - You should have something (if only a tenner) in here.
Total monthly expenses.................. 279.71
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 600
Other assets............................ 0
Total Assets............................ 600
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
overdraft 1....................171.05....28........18
overdraft 2....................236.78....0.........18
Total unsecured debts..........407.83....28........-
Monthly Budget Summary
Total monthly income.................... 310.7
Expenses (including HP & secured debts). 279.71
Available for debt repayments........... 30.99
Monthly UNsecured debt repayments....... 28
Amount left after debt repayments....... 2.99
Personal Balance Sheet Summary
Total assets (things you own)........... 600
Total HP & Secured debt................. -0
Total Unsecured debt.................... -407.83
Net Assets.............................. 192.17
Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.
My comments in RED.0 -
definitivefreak wrote: »The new overdraft fees are for all accounts with overdrafts, even the ones with packs.
Yes but the £200 interest free overdraft covered under the pack will change to £200 fee free overdraft. Therefore you only pay 75p a day for anything you use over £200.0 -
Yes but the £200 interest free overdraft covered under the pack will change to £200 fee free overdraft. Therefore you only pay 75p a day for anything you use over £200.
If that's true, they should have offered me that and I would have taken it. I might have to go back to them...{Removed by Forum Team}0 -
Go into branch their not always helpful on the phone. And ask someone else. All staff might not be very knowledgeable.0
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In your situation I would close the account thus freezing the overdraft and open an account elsewhere and pay off even the £20 a month to the overdraft. What kind of job are you looking for? Even part time shop work would being in £100 a week, so well over your £71 JSA.I presume you live at home as your SOA says 4 adults?Would your parents agree to you not paying rent for a few months just to get the overdraft sorted?
I do think though that you should take any job you can ,even cleaning(I did it for 2 years -part time-still got £100 a week)-better to have any kind of job than JSA to be honest.Supermarkets are always taking on staff and as no children are mentioned on the SOA I presume there are no times you can't available-I couldn't do it as they were too inflexible on shifts and I have school runs to do.Debts Jan 2014 £20,108.34 :eek:
EF #70 £0/£1000
SW 1st 4lbs0 -
I had a meeting with a nice Barclays lady yesterday. She was really helpful, so much more than the phone people. She was very surprised when I told her the guy on the phone said I couldn't reduce my overdraft. She said I can reduced it any time I want by how ever much I want - even as little as £10. So I reduced it there and then by £20. I'm gonna do that every couple of weeks and see how far I can get it down by the start of June.{Removed by Forum Team}0
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