Overdraft & Low Income

JMC1984

My wife is with Santander and due to a number of factors hasn’t been able to return to work following maternity. She has around £500 incoming and direct debits going out however due to the banks high charges it has pulled her to the overdraft limit.
She’s looking at paying off her overdraft and moving banks but which bank offers best overdraft for someone no paying in as much?

jonesMUFCforever

Who knows is the honest answer.
How will she pay off the overdraft?
Do the direct debits exceed the incoming income?

Whilst she is free to transfer her account to any bank that will accept her the main problem might be more going out than coming in - so my advice ask her to go to the debt free board and make an accurate statement of affairs.

mgdavid

Could her husband help her out financially?

John_G_Jones

It’s quite a strange question. You, as a couple, decided to have a baby. You decided as a couple that your wife would take maternity leave, and now, as a couple, money is tight, so why is it your wife who is in overdraft?

It sounds like you are fine and yet as you’ve chosen to split responsibilities in this way, or as a result of you choosing to have children, you are leaving your wife to struggle.

I assume not, and it was just poorly worded, but what is the actual situation, as a couple?

DCFC79

JMC1984 wrote: »

My wife is with Santander and due to a number of factors hasn’t been able to return to work following maternity. She has around £500 incoming and direct debits going out however due to the banks high charges it has pulled her to the overdraft limit.
She’s looking at paying off her overdraft and moving banks but which bank offers best overdraft for someone no paying in as much?

What would moving banks achieve ?


You need to address the underlying issue which to me is not enough paid into the account to cover the outgoings.



When I say you surely it should be as a couple.

Terry_Towelling

Perhaps it's time to divert that £125 monthly from your S&S ISA into your wife's account to help her out for a time and maybe start living as a proper couple.

Sorry for the judgemental attitude (and I know people will pillory me for it) but surely you must realise you're in this together. Your wife has done all the hard work carrying and bearing your child and is now suffering in some way that stops her from working and this has led to a financial shortfall. Isn't it time to man-up and start putting some effort into your relationship? You contributed to the process of creating that child (presumably) and so you have to share the responsibility for everything that comes as a result.

deadendwaterfall

Terry_Towelling wrote: »

Perhaps it's time to divert that £125 monthly from your S&S ISA into your wife's account to help her out for a time and maybe start living as a proper couple.

Sorry for the judgemental attitude (and I know people will pillory me for it) but surely you must realise you're in this together. Your wife has done all the hard work carrying and bearing your child and is now suffering in some way that stops her from working and this has led to a financial shortfall. Isn't it time to man-up and start putting some effort into your relationship? You contributed to the process of creating that child (presumably) and so you have to share the responsibility for everything that comes as a result.

If it was the other way round, the wife not helping out enough, would you have posted something similar?

Terry_Towelling

deadendwaterfall wrote: »

If it was the other way round, the wife not helping out enough, would you have posted something similar?

On the principle of being in the marriage together and supporting each other, yes, I would - although the wording would have been different because men don't have babies - yet!