0% student overdraft to run out

always_amazed

Hey there,

(I originally put this on the budegting and current accounts boards but think here might be better as its more to do with managing debt!!)

I was wondering if any of you could offer any advice on my wee predicament? I'm new to all this and am so overwhelmed by information...!


I have a 0% O/D (£1600) with RBS on my Student Account. I graduated this year, but I think they think I'm still at uni because I've heard nothing from them re. changing the status of my account.

The problem is that I'm now off for major surgery in about a month (oh the joys) which I put off until I had finished uni, and am going to find paying it off quite tough on my SSP (3 months recovery, two months PT work allowed, then 3 months off again for second surgery, then better!!!) , ESPECIALLY if they whack on a huge interest rate. This is something I must avoid at all costs.

So should I...

a) write to them and explain my situation (I've actually now registed for an HNC at the local college so technically am still a student! And I've heard banks can be accommodating as long as you are up front! - or are my spectacles a bit too rosily tinted?? ) Or will doing this draw attention to myself???

b)do nothing and hope they have forgotten about me and try to pay it back asap.

c)apply for several 0% BT cards before I go off sick for the op and pay them off that way. I know this will incur fees BUT I won't be able to get a CC during the SSP period.

d) any other ideas??? thought maybe if I do a) and c) just to be on the safe side...?


I havn't done my SOA yet fully, but my other debts are stable, I know what I'm doing with them, but this one certainly isn't!!


cheers for any input


xxxx

scottn

do nothing, or

visit branch, take proof of graduation and change to the RBS graduate account and enjoy an interest free o/d of upto £2k in your first year after graduation (and i think its 1500 free o/d in year 2 and 1000 in year 3 after graduation).

Hope the operation goes well

always_amazed

ahhhhh! I see!!


I didn't realise grad accounts had interest free O/Ds, just assumed it would be just the same as a normal one.


cheers scottn!!

scottn

In the process of opening an RBS Grad account, hopefully it goes smoothly so I can leave HBOS!

I have copied and pasted som details from their website for you:

You need to be a UK resident for tax purposes - and you have to be over 18 if you are applying for credit facilities.
You must have graduated from a full time higher education course in the UK lasting three years or more (one year for postgraduates) or completed training as a nurse in the past three years.
The list of eligible courses is:

• First undergraduate course
• Higher National Certificate (HNC)
• Higher National Diploma (HND)
• Nursing training course
• Post-graduate course (MSc, MA, Phd, etc)