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Overdraft - freeze the account?
mcrfan
Posts: 165 Forumite
Just wondering if anyone knows if a bank can freeze your account if you are up/over your overdraft limit?
I have f***ed up big time with my account and run up a 2k overdraft which i then went over by a few hundred pounds last month, so I got hit with charges of £90.
I decided the only way out was to open a new account and treat the od like another debt and pay a small amount each month to pay it off.
Now my new account is in the process of transferring all my direct debits (they wrote to my bank to get the info) so the old bank know that I am leaving them. I am currently over my od limit by £25 but they have not charged me.
I noticed today that my mobile bill is due to come out and has not - do you think this means that my old bank have frozen the account and can they reject direct debits? Just concerned as I have a couple more due this month and am guessing the transfer process will take a few weeks.
What happens if my bank rejects direct debits? Will I get angry letters/phone calls of the dd companies?
Should I try to pre-empt this and write to them all myself to explain the transfer situation???
Should I let me od bank know that I am planning to pay the od off (albeit v slowly) in case they think I am just going to do a runner and leave the od sat there???
I have f***ed up big time with my account and run up a 2k overdraft which i then went over by a few hundred pounds last month, so I got hit with charges of £90.
I decided the only way out was to open a new account and treat the od like another debt and pay a small amount each month to pay it off.
Now my new account is in the process of transferring all my direct debits (they wrote to my bank to get the info) so the old bank know that I am leaving them. I am currently over my od limit by £25 but they have not charged me.
I noticed today that my mobile bill is due to come out and has not - do you think this means that my old bank have frozen the account and can they reject direct debits? Just concerned as I have a couple more due this month and am guessing the transfer process will take a few weeks.
What happens if my bank rejects direct debits? Will I get angry letters/phone calls of the dd companies?
Should I try to pre-empt this and write to them all myself to explain the transfer situation???
Should I let me od bank know that I am planning to pay the od off (albeit v slowly) in case they think I am just going to do a runner and leave the od sat there???
DMP with Payplan
DMP Support number 287
Trying to lose lbs and save £££s!
0
Comments
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im wondering the same also..as im in same process as you with changing banks
Sealed Pot dec 08 - dec 09 so far £27.67, Live off £4k Spent £330.20 GC £1,200 for 2009 Spent £50.78 PaD so far £650.07Debts: L/woods £154.00 C/One PAID O/D £649.90 Next £299.95 O/D PAID Gas £72.60 Electric £155.73 Mum £640.00 Orange £490.320 -
Well got my answer today, a dd came out so I got hit with another £30 charge doh!!! With more dds to come I'm totally screwed....DMP with PayplanDMP Support number 287Trying to lose lbs and save £££s!0
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