bank charges help

chloe2092001

hi there i need some help with my bank,

I have started to reclaim my charges with barclays bank, it has been going on months just waiting to hear back now, but the problem is i am now £991.00 overdrawn my overdraft is £250.00 limit with all the charges and my bills it has gone mad what can i do i cant believe my bank has let it go that far from my limit and i didnt think they could

Please help
nicky :mad:

patman99

Have you undertaken a personal finance audit?, If not, then use the one available on this site. Once you know whether or not you are earning more than you are spending, You could try writing to the bank & explaining that if they stop charging you fees for being over your overdraft limit & charge interest instead, then you will be able to pay-off the overdraft & head back into the black.

You could always ask for an increase in your overdraft, this won't help in the short term, but it would make an easier target to reduce too (if you are really lucky, & have been a long-term customer, then they may even give you a £1300 overdraft like the Nationwide gave me).

You also need to asses the following info.
1. Do you have a mortgage?, if so, could you get a cheaper rate elsewhere (C&G are doing a base rate tracker + 0.17%), or could you extend the lifespan (i.e. from 20 - 25 years). This should give you a rolling monthly saving.

2. Rented property. Go and see your local Council, you could be entitled to help with your rent.

3. Do you have any wealthy friends/relatives?, ask them for a loan. If you can borrow enough to get back in the black, then you will save on all those bank charges, thus making it easier to pay them back.

4. Change your utilities providers, I'm with Utilities warehouse, and I have yet to find a cheaper supplier than them (I check monthly just to make sure). My phone is with Talktalk (fixed monthly call plan).
Remember, even though its hard to do, don't let the situation you are in get you down. There a FREE debt advice services that you can use.

If Barclays end-up taking you to court over your debts, then I don't think the judge would be too simpathetic towards them, after all, it is their charges that have left you in this mess.

Tootsie_Roll

chloe2092001 wrote: »

hi there i need some help with my bank,

I have started to reclaim my charges with barclays bank, it has been going on months just waiting to hear back now, but the problem is i am now £991.00 overdrawn my overdraft is £250.00 limit with all the charges and my bills it has gone mad what can i do i cant believe my bank has let it go that far from my limit and i didnt think they could

Herein lies the problem - your bank haven't allowed it to go overdrawn - you have. I know it's a difficult pill to swallow and I am not making that comment out of spite but it is imperative that you take control of your account in the future to prevent it from happening over and over again.