Interest payments when on Benefits

colsten

macfamilyent wrote: »

Who does he bank with?

Unauthorised overdrafts at Halifax are £5/day. http://www.halifax.co.uk/bankaccounts/rates-rewards-fees/

Barclays have similar charges: http://www.barclays.co.uk/CurrentAccounts/Changestooverdraftsandwaystoavoidfees/P1242663274269

Santander will be charging similar from August IIRC.

TSB will charge between 5 and £10 a day. http://www.tsb.co.uk/media/tsb/pdfs/banking_charges_brochure.pdf

pmduk

I mean this in the nicest sense, but please don't treat Facebook as a source of financial advice!

SammenForLivet2

If you're both having difficulties in managing your money, and credit facilities - then why not give on of the following a call?

1.) Your Local Citizen's Advice Bureau
2.) The Money Advice Service (for more general and budgeting help)
3.) StepChange
4.) National Debt Line

The last two in particular, will be able to walk thru your options and discuss free and impartial advice and walk thru you and your sons options (if he is willing to) and perhaps, look at arrangements to pay, and discuss any consequences with you.

If he is with LLoyds Banking Group, he may want to have a look at this: http://www.thisismoney.co.uk/money/saving/article-1684847/Lloyds-Control-the-future-of-bank-charges.html

For more help and advice, on dealing with this you can get help from the experts on the Debt Free Wannabe Section of this forum.