Overdrafts - Help!

b_girl

Due to my DH losing two jobs since the new year we've been struggling financially for most of 2014. After a series of large costs (moving to a smaller, rented house, car problems, building work etc etc) I've slipped beyond my planned overdraft with both lloyds and halifax. Lloyds are charging £1 a day but halifax are charging £5 per day which I have no way of recovering from. I've tried upping my planned overdraft but have been refused so can see these costs spiralling out of control as I have no real way of paying them. I wish they could just be frozen.

I stay at home with our DD and am due another baby in 4 weeks, next September I am going back to uni so don't have any immediate employment prospects. We are still recovering little by little each month with our joint account but can't see how I can ever get on top of my bank charges with my own bank accounts My husband is unaware of these charges and I don't really want him to worry about it at the moment as he is dealing with terminal illness in his side of the family which is enough to think about for the time being. I feel like I'm all alone with myself getting into more debt each day that goes by

I'd appreciate any advice that anybody can give.

asparagus1968

So sorry you are worrying.
£5 a day?? horrific.
could you fill out the following SOA, with all debts/APRs,balances and limits etc and lets see if any of us can help. How did you request your overdraft being increased?
Could you have an appointment in the bank (face to face ) to review this?


link for SOA:


http://www.stoozing.com/calculator/soa.php

James_B.

b_girl wrote: »

I stay at home with our DD and am due another baby in 4 weeks, next September I am going back to uni .

I suspect that it may make sense to look at your decision to do this. It sounds as though you possibly can't afford to s=do so.

Can you look at working at all?

b_girl

Thanks for advice so far

I will work on getting a SOA up.

James_B. wrote: »

I suspect that it may make sense to look at your decision to do this. It sounds as though you possibly can't afford to s=do so.

Can you look at working at all?

I will be doing an NHS course which is free and I've looked into grants and loans - so far doing the course seems achievable and would eventually mean a better life for my family. If time comes closer and we cannot afford it then I'll have to put it on the back burner and find a different job. Once the baby is here I can hopefully look for evening work for extra income and avoid childcare costs but in the meantime I'll still be £6 worse off every day so will have even more to pay back.

bargainbetty

I think given the circumstances, speaking to your OH would be a starting point. While he may have other issues, you are heavily pregnant with his child and a simple bank transfer from any surplus he might have or a few weeks of you both focusing on reducing expenditure to get things under control would be a way of solving the problem.

You are a couple - let him help you with this. Or, go into the bank and be heavily pregnant and upset at them until they come up with something that reduces/stops the charges for six months.

Lloyds_Bank

b_girl wrote: »

Due to my DH losing two jobs since the new year we've been struggling financially for most of 2014. After a series of large costs (moving to a smaller, rented house, car problems, building work etc etc) I've slipped beyond my planned overdraft with both lloyds and halifax. Lloyds are charging £1 a day but halifax are charging £5 per day which I have no way of recovering from. I've tried upping my planned overdraft but have been refused so can see these costs spiralling out of control as I have no real way of paying them. I wish they could just be frozen.

I stay at home with our DD and am due another baby in 4 weeks, next September I am going back to uni so don't have any immediate employment prospects. We are still recovering little by little each month with our joint account but can't see how I can ever get on top of my bank charges with my own bank accounts My husband is unaware of these charges and I don't really want him to worry about it at the moment as he is dealing with terminal illness in his side of the family which is enough to think about for the time being. I feel like I'm all alone with myself getting into more debt each day that goes by

I'd appreciate any advice that anybody can give.

Hi b_girl,

I'm sorry to hear of the difficulties you've been facing. If you've not already done so, you may wish to speak with our Customer Support Unit about your current situation. You can reach them on 0808 145 0373.

I hope this helps,

Cheryl