Tsb overdraft

squiggss

Hi I hope this is in the right category.

I'm 22 now so I'd say 4 years ago 2011 when I was 18 I was foolish enough to take out an overdraft of £2,000 which I accept is irresponsible on my part. I was earning £900 a month and I did it through my lloyds tsb app. I maxed out the overdraft and kept snowballing always using it until I lost my job. I was getting hit with hundreds of pounds worth of charges through out the 4 years. I was repaying £30 a month what I could afford them getting hit with £40 charges a month so I was over my limit constantly. Fast forward to now my overdraft sits at £1,800 with me paying £30 a month which is all I can afford. I was on a 6 month interest free repayment plan. But now the bank has put it down as an unplanned overdraft and will be charging me £10 daily fee. I have 10 days to pay it all off or they will be affecting my credit which atm is poor anyway.

I'm just curious what are my rights I am more than happy to pay £30 a month to pay it off then increase it where I can any help would be grateful thanks you

Pixie5740

Rights? I'd say you have options but I'm not sure that you have rights as such. Do you have any other debts? Is £30 all you really can afford or could you pay this off quicker if you cut back on other things such as an expensive mobile contract or Sky TV? If you are struggling financially then contact one of the debt charities (CAP UK, National Debtline or Step Change) to find out what options are available to you.

If you still use this account as your main account then I would recommend you open a new account elsewhere and start having your income paid into it instead.