Going over overdraft limit advice please

wannaberich41

Hi
My son earns good money for the area we live in.  He used to be good at saving up to the point of when he turned 17.  Now he spends money like I don’t know what.  It’s never on anything in particular other than takeaways and fuel etc.  This could amount to £1300 in about 2 weeks or less. Basically he is spending more than he is earning.  He has a £1500 overdraft limit and he is always over this.  It appears the bank seem to just keep letting him go beyond the overdraft limit.  At what point Will they stop it  or how much will they continue letting go over?
Can it be requested that no transaction can be made once you’ve gone overdrawn or attempt to go over?
i fear he’ll end up 5k or more over.
ive tried talking to him but it falls on deaf ears. 

bradders1983

It probably can be requested but obviously you cant do this and good luck convincing him to ring up and ask.

wannaberich41

Thank you.  It’s like trying to bang my head against a brick wall.  He’s now 20.

bradders1983

Some people just have to be left to make their own mistakes. Throwing money yourself at him to sort it will likely be squandered.

whitesmith

Try not to worry everything will most likely turn out to be fine - 20 is the age of enjoying yourself and making mistakes.

wmb194

Even if banks refused to lend him more via overdrafts he'd probably just shift to credit cards and unsecured loans, although ironically these could be cheaper ways to borrow.

Sea_Shell

Have you made a decision in your own mind (heart) as to whether you will be prepared to bail him out, if it gets to the point of defaulting, or are you going to let him live with the consequences of his mistakes?