Student Overdraft

nohaynada

I went to University in 2014 and got a student overdraft with Santander. The condition was to pay something like £2000 in the account per semester in order to get the overdraft, which I did, with my student loans.

I left University in Summer 2016 after my 2nd year for some health reasons and then went travelling for a while starting May 2017, last year.

When I arrived back in the UK this summer after a year of travelling, I opened my mail from when I was away and I have had letters from drydensfairfax solicitors telling me I need to pay £1700 back in overdraft. These letters I believe were sent on average every 3 months. The last one they sent was 3 months ago, I got one this week also telling me I need to pay the full amount by the end of this month in order to avoid further recovery action.

I went back to Uni part time this September but I'm not getting any student loans to pay for housing or food because I'm living at home with my family. I have no job either.

I can't pay the full amount as I have no income, but could try £10 a month and increase it when I graduate next year and get a job. Do I acknowledge the debt first and tell them I cannot pay in full? I'm not sure what the first step to do is.

Unicorn_cottage

How much was the overdraft when you left the country?

nohaynada

I can't remember. It was around the same amount, it's an interest free account. I haven't used it since 2016.

Farmer_Johnson

nohaynada wrote: »

I went to University in 2014 and got a student overdraft with Santander. The condition was to pay something like £2000 in the account per semester in order to get the overdraft, which I did, with my student loans.

I left University in Summer 2016 after my 2nd year for some health reasons and then went travelling for a while starting May 2017, last year.

When I arrived back in the UK this summer after a year of travelling, I opened my mail from when I was away and I have had letters from drydensfairfax solicitors telling me I need to pay £1700 back in overdraft. These letters I believe were sent on average every 3 months. The last one they sent was 3 months ago, I got one this week also telling me I need to pay the full amount by the end of this month in order to avoid further recovery action.

I went back to Uni part time this September but I'm not getting any student loans to pay for housing or food because I'm living at home with my family. I have no job either.

I can't pay the full amount as I have no income, but could try £10 a month and increase it when I graduate next year and get a job. Do I acknowledge the debt first and tell them I cannot pay in full? I'm not sure what the first step to do is.

If you have no income then a part time job would make sense. Many students do this, with bar or supermarket work, and there are plenty of weekend only jobs available in retail too.

What source of funds did you use for your travelling?