Overdraft woes

flick24

I have an overdraft with santander of £1000 which since being on maternity leave I'm constantly in so every month getting charges, this month I've had 2 paid transaction charges, and unarranged overdraft charge so in total next month will have to pay around £54...I'm surviving on very little at the moment some tax credits and child benefit, my partner has recently started self employment but after costs there will be no profits, we are currently getting help with housing benefit.

I've got in touch with Santander asking them if they will stop thre charges while I try to clear this overdraft, has anyone had any success with this.
We don't live extraggently no sky t.v, never eat out or even go out everyday is just a constant struggle.

I've estimated I could probably pay at most £25 but even that will be a stretch, I'm hoping to get a job in January which will help us out a lot.

Will any of this affect my credit or the type of account I can have in the future, whether I'll be able to have a small overdraft facility in the future just for emergency use.

grumbler

Yes, any arrangement with the bank will have some effect, but your credit history has been affected already anyway by the fact that you exceeded the arranged limit.
Would it not be better to cancel the DDs rather than incur fees?

Post on Debt-Free Wannabe board where you'll get a better advice on how to negotiate this with the bank.

Learn the lesson, and in the future rely on savings for emergencies, not on overdrafts.

Thrugelmir

flick24 wrote: »

Will any of this affect my credit or the type of account I can have in the future, whether I'll be able to have a small overdraft facility in the future just for emergency use.

Most certainly this will have a material impact. Credit files reflect the manner in which you manage your finances. The risks you pose as a borrower.