Overdraft

GC1987

Hello,

Hope this is in the right place. I was looking for some advice on reducing my overdraft (with ulster Bank) I've heard of a few people talking about 'restructuring' their accounts where the overdraft becomes like a loan that is paid off in monthly installments. Does it look worse to have a loan being paid off or an overdraft on your credit file?

Thanks in advance.

Stevie_Palimo

You could try paying off a bit and reducing ie:- £5000.00 of to start with and pay them back £250.00 and then ask to drop it to £4750.00 and so on until you get to zero or preferred rate of a manageable one.

GC1987

Thanks Stevie