Need Help - arranged overdraft and credit checks

2 Posts

Hello all,
I will be entering a tenancy agreement soon. I have an arranged overdraft limit of £1000 with my lloyds bank debit card and I am overdrawn by nearly £120. My letting agent will conduct referencing and credit checks soon and I wont be paid till the end of the month. My question is does this affect my referencing and credit checks or does it show that I am overdrawn?
All the best
I will be entering a tenancy agreement soon. I have an arranged overdraft limit of £1000 with my lloyds bank debit card and I am overdrawn by nearly £120. My letting agent will conduct referencing and credit checks soon and I wont be paid till the end of the month. My question is does this affect my referencing and credit checks or does it show that I am overdrawn?
All the best
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£1000 overdraft is quite high, so lenders might look at that more closely.
I would maybe think about getting the overdraft reduced (or removed completely) so it doesn't look like you're reliant on it month to month. Someone with more knowledge will be along soon to point me right though
They're also not being checked by a lender.
I thought £1000 was a lot for an overdraft?
Seems like a lot.
Other Banks may report differently.
More than a third of IVA`s fail....fact.
Could A Debt Relief Order help you ?
Never pay a fee for a Debt Management Plan.
For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
If you're £120 into your overdraft then it will presumably show it and the "limit" you have and your available credit will update to reflect that? (I'm just guessing, I've no idea)
As MEM62 said: It is true ... being in my overdraft whilst submitting my referencing application did not affect the outcome of my application.