What am I supposed to do? Great News They said sorry

thinkpinkworld

I have had my First Direct bank account and credit card for 17 years. I have never strayed outside any agreed overdraft/credit limits. I have been ill with ME/CFS for about ten years and am living off savings. I tried to start part time tempwork which has not worked I am just too ill. I have had to make the decision to sell the last bit of savings I have loosing a lot of money. In four weeks time I have 20 thousand pounds being paid into my bank account. A tough decision but it is now done. I have carefully budgeted so I can survive the next four weeks. Then....
My bank has decided to remove £500 of my credit card limit. I am now in serious trouble all my careful bedgeting has gone out the window. I now do not have enough to live on. My spending is already cut to bare essentials I do not eat out or go to night clubs I spend my money on food bus pass and treatment(which is working by the way Perrin Technique for fellow sufferers).
When I rang up to ask my bank why and explain what it has done to me. They said they could remove my overdraft limit as well if they wanted to in other words make me bankcrupt. They just threatened me. To do what? what do they want? What am I supposed to do? What have I done wrong?

Any help would be appreciated. What could I have done to avoid this? They told me to get help from social services (with 20 thousand pounds arriving in a month I do not think so).

Jane

Ember999

This doesn't sound right to me. First Direct are one of the best banks around and if you are a good customer, they treat you right. They will have removed your £500 for a reason. What exact reason did they give? can you be more specific? What was your credit limit prior to them reducing it by £500? Were you only £500 away from reaching your credit limit? If you were, they will have been doing you and them a favour...if they can see no income, your credit card bill going up etc. that spells alarm bells! At the end of the day, a bank, any bank, lend you money under the understanding that you pay it back. All banks are tightening their lending and with good reason...are they tightening with you because they feel there is a need? You need to think about that.

Ember xx

ziknik

1. Try Alliance and leister. I got a £1000 interest free (for a year) overdraft, and I don’t have a great credit history.

2. Is there any way you could get you £20k to arrive earlier.

3. If you can prove that £20k is coming, I see no reason for any high street bank to give you a 4 week overdraft, especially if you want to put your £20k into one of their accounts.

4. Borrow from friends / family.

5. Or maybe sell some things on eBay.

Good luck

thinkpinkworld

If I have a lump sum arriving which I can prove and have always kept within their limits what is the problem? I do not have an income I live off savings. I did not want to sell this so I hung on and tried to work which failed. THere was some income coming in but I was not living of it. Why did they not discuss it with me first. At the end of November I will have no credit card debt no overdraft. Why are they doing me a favour?
Jane

Stephen_Leak

It is all too easy to say no to someone you cannot see on the 'phone. FD are part of HSBC, so I would visit your local branch, explain your situation, and see what they say.

thinkpinkworld

I tried to get an A&L bank account I missed their deadline silly. I could not do it in time.
Don't forget I have little spare energy to try and sort things out again. I am having treatment which is making me worse temporarily.
I think my complaint is that I had stayed within all the rules why have they decided to make things so difficult for me I am not short of money it felt like a random attack for no good reason. I had everything well sorted and easy which I really need at the moment. I should be able to rely on my bank for help, the bank shoul d not be the one causing me problems. If I had been a bad debt defaulted on loans etc. etc. I might understand but I have not.
They also advised me not to move money from my credit card on which I have a couple of hundred left into my bank accout. Today I had 10 pounds left this means it must have gone over by now.

Jane

thinkpinkworld

Thanks Steven I may try that. I think they may just say not their bank. THe more noise I can make the better. I have sent a message tofirst direct again saying what I said In my original message on here. Asking for the £500 to be reinstated for one month. I said they needed to give me a months notice on a change of conditions or something. I will see what they say. I wonder if they donot like people living off unearned income they really only want wage earners. even though my track record is good.
Jane

ziknik

First direct are obviously a set of ****s. I wouldn’t waste any time worrying about it or being angry about it. It has happened to a lot of people.

Walk into any bank and I’m sure they would give you a £500/£1000 overdraft if you can prove that £20k is arriving in a few weeks. Especially if you tell them you will open a savings account for the remaining £19.5k.

thinkpinkworld

Hi Ember,
I do not think you have picked up all the details from my first post. I will be paying it alloff in 4 weeks. I can prove I have the money. I'm not sure I undersand what you are saying.
Thanks toeveryone who responded I'm feeling so much better. I think things can go round and round sometimes to no good effect.
This will have sorted itself out in four weeks or so. I will have the money I need for this treatment which seems to be helping me. THis is what is really important.
Jane

thinkpinkworld

ziknik
Do you think I could?
That is a good idea.
Which would you recommend?
Jane

Stephen_Leak

thinkpinkworld wrote: »

Thanks Steven I may try that. I think they may just say not their bank.

HSBC own FD and are the only local presence for it. They take cash payments into FD accounts and had enough people calling in to close them when FD introduced their annual charge.

If they ask why you haven't rung FD back, just say something like you were afraid to, in case they carried out the threat in the previous call.

Even if HSBC/FD back down, I would still "jump ship", but on your terms.