Repayment of overdraft

craigmc33

I recently used the switching service to move from bank of scotland to santander, applying to move my overdraft as well. Only once the process had begun was I informed that my overdraft had been declined and would need to arrange to pay it with BOS.
My account is due to close on Fri with BOS, I cant afford the £2000 in one go but am looking to pay it over 6months at most, can anyone advise what impact this will have on my credit file?

Thrugelmir

Why not stay with Bank of Scotland? As the overdraft is repayable on demand. With no income being credited to the account the bank may well take decisive action.

JKSandy

Contact Santander and appeal their decision.

If you are in your OD are you sure your BOS will actually be closed and not left open until it is repaid?

craigmc33

Thrugelmir wrote: »

Why not stay with Bank of Scotland? As the overdraft is repayable on demand. With no income being credited to the account the bank may well take decisive action.

the account closed automatically with the switching service, we tried to stop the switch taking place but couldnt and the account will now automatically be closed

Thrugelmir

craigmc33 wrote: »

the account closed automatically with the switching service, we tried to stop the switch taking place but couldnt and the account will now automatically be closed

Suggest you apply for a loan to settle the debt.

craigmc33

Thrugelmir wrote: »

Suggest you apply for a loan to settle the debt.

unfortunately we have tried that but were declined, we have recently moved and both changed jobs only in feb.
thats why I was asking what impact a repayment arrangement would have on my credit file, would it show as a default or an arrangement?

thanks for the advise though