Silver account lloyds charges

Hi all my son has a silver account with monthly fees of approx £12  and a £150 overdraft. He lost his job due to covid and fell behind with all bills after having to claim UC he had always worked from 18 yrs old now he is 30.
He is struggling financially and asked to end the silver account which he has never benefitted from really, in fact he was pressured into taking the account years ago..in asking to close it he was told he isn't allowed as he is in his overdraft....he isn't in a financial position atm to pay the overdraft off in total and we feel its a no win situation, any advice greatly appreciated tyia caroline

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  • dunstonhdunstonh Forumite
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     in fact he was pressured into taking the account years ago..in asking to close it he was told he isn't allowed as he is in his overdraft..
    The bank is correct.  You cannot close an account that is overdrawn.

    any advice greatly appreciated tyia caroline
    Take a look in the debt-free wannabee section.  There are some very helpful posters in there that can help those with financial problems.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • brettctabrettcta Forumite
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    As dunstonh says, he can’t close an overdrawn account. Are you perhaps in a position to loan him the balance to get the acccount to zero so it can at least be downgraded to a non fee-paying account? The £12 he’s saving per month could then be used to pay you back?
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
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