Overdraft £1800 help please...

FireWyrm

foolsgold01 wrote: »

Thank you FireWyrm for your reply earlier today. I have replied in blue and being new to the forum and how I all works hope this does

Re, the car. Are you certain you need to spend £1800 on a car? If we are talking just a year of use for instance, then you can usually acquire a reasonable runaround for about £600 tops, less from a private seller - most people have no idea what the book is on their cars - you can take advantage of that. My current family car is a 10 year old Xara that we bought from a breakers yard for £400 (I beat him down from £550). It goes, I dont care if it gets stolen beyond being a minor inconvenience, and no self respecting joy rider would steal it anyway. It has the absolute least amount of insurance on it for the purposes of complying with the law. It needs to do no more than a few hundred miles a year and spends most of it's time pottering backwards and forwards to the local supermarket. It isnt pretty, it rattles and it huffs but it passed an MOT and I forked out for a basic service. It has been running strong for 2 years now. When we tire of it, I'll get some mug to buy it.

seanavfc92

double_mummy wrote: »

THIS IS INCORRECT

if you wish to use lloyds as an example then money in a halifax account can be used to off set against a sainsburys finance product or bank of scotland or intelligent finance or lloyds tsb

Without getting in to a debate/argument about this, it cannot be used to offset.

Lloyds TSB no longer exists. With them now operating as separate banks, it has been confirmed that it can't be done.

seanavfc92

foolsgold01 wrote: »

Can this happen even though we are married and living together but the accounts are in our sole names (not joint accounts)? Good example above as I have a Halifax account (although this isn't where my wages go) but my husband has Lloyds. Can the banks demand/take money from my Halifax (not that theres much in there) to service his Lloyds OD?

Thank you x

NO. Halifax, nor any other bank, can offset money from one person's account to someone else's account, especially as you are banking with two separate high street banks.

tgirl

Step change advised me to change bank rather than repay the overdraft immediately.

springdreams

FireWyrm wrote: »

Re, the car. Are you certain you need to spend £1800 on a car? If we are talking just a year of use for instance, then you can usually acquire a reasonable runaround for about £600 tops, less from a private seller - most people have no idea what the book is on their cars - you can take advantage of that. My current family car is a 10 year old Xara that we bought from a breakers yard for £400 (I beat him down from £550). It goes, I dont care if it gets stolen beyond being a minor inconvenience, and no self respecting joy rider would steal it anyway. It has the absolute least amount of insurance on it for the purposes of complying with the law. It needs to do no more than a few hundred miles a year and spends most of it's time pottering backwards and forwards to the local supermarket. It isnt pretty, it rattles and it huffs but it passed an MOT and I forked out for a basic service. It has been running strong for 2 years now. When we tire of it, I'll get some mug to buy it.

I agree with this. I have a 2002 Golf TDI that I use for part of my daily commute to work, shopping, taking my 13 year old to various football matches that are about 15 - 20 miles from home most weekends, and have recently taken it to North Wales and to Holland. It does the job very nicely, and I only paid £850 for it 2 years ago. She still has many good years in her

foolsgold01

springdreams wrote: »

I agree with this. I have a 2002 Golf TDI that I use for part of my daily commute to work, shopping, taking my 13 year old to various football matches that are about 15 - 20 miles from home most weekends, and have recently taken it to North Wales and to Holland. It does the job very nicely, and I only paid £850 for it 2 years ago. She still has many good years in her

Hi thank you - I do agree with this and is something I am looking into.


In all honesty I am scared about this gamble too though as I have had severe problems with cars in the past (as has my husband and was the start of our debts looooong ago). I now find it hard to trust the selling of second hand cars on peoples driveways. We have no mechanic friends and time too is an issue with searching, looking, buying etc. If I get rid of my car today - I will need a car tomorrow.


The concern I have is the maintenance of an old car can be large too and the running costs a gamble.


I do see that it is something that needs to go though. We would save ourselves £236 a month! Although if my husband didn't have the amount of debt I would have my car which was a great deal!! (I'm not over this yet)!!:mad:


I like the sound of your car though springdreams and if you were ever selling...;).:rotfl:

donny-gal

Just one point at the moment as I read it, it is just you giving things up to clear the mess your husband has got into (car, savings), and while certainly agree you are a team! what us he giving up or doing different to try to sort the mess out? DG