Shifting overdraft debt?

Dird

Just received the - only a matter of time - text from my sister asking for money because she's in her overdraft again. She's with Lloyds & apparently they offered her a loan which would add £1400 to the bill so I'm guessing she owes a couple thousand at least.
I don't want to give it her as she's crap with money to begin with even when she was working (I had to loan her then) and now her kid ain't even 6 months, she's used on her £9k redundancy and in debt it seems.

Can a current account overdraft debt be shifted to a 0% credit card?

pinkdalek

Some credit card companies offer something called a money transfer to a credit card. This can be used to pay off an overdraft and shift the debt to a credit card.
Check with your credit card issuer if they have that facility.

If your credit card company does but it is not on 0% there is nothing stopping you doing it and then once it goes through move that debt to a different credit card on 0% :beer:

Dird

Yeah I just found it.

pinkdalek wrote: »

If your credit card company does but it is not on 0% there is nothing stopping you doing it and then once it goes through move that debt to a different credit card on 0% :beer:

She has to do the transfer with Lloyds then move elsewhere? She couldn't just get a 0% from a competitor then transfer that to the Lloyds CA debt?

pinkdalek

Dird wrote: »

Yeah I just found it.She has to do the transfer with Lloyds then move elsewhere? She couldn't just get a 0% from a competitor then transfer that to the Lloyds CA debt?

If the new provider is offering it to you at 0% then there is no reason why you would use Lloyds first. I just told you that as a work around. Not every credit card company will offer the service of money transfer you see or they only offer it by invitation only.

Dird

I've sent her the MSE calculator & some info about it. Rest is on her

badger09

Suggest you send her the link to this board aswell.

You can't make her read it, or act on the suggestions, but at least you've tried:o

http://forums.moneysavingexpert.com/forumdisplay.php?f=76

Dird

badger09 wrote: »

http://forums.moneysavingexpert.com/forumdisplay.php?f=76

Sent her the link but doubt she'll post. This debt won't have come out of nowhere but she was still too lazy to do a Halifax switch after I told her about it last month, even after my mom received her £125