graduate account natwest help please

wilf55

my daughters boyfriend has a graduate account with a £2600 overdraft he has to reduce this 0% overdraft by june it is 0% at the moment and has to be reduced by £1000 to keep it at 0% otherwise part of it will be charged interest on if you understand what i mean


how would he be best doing this he cant afford to pay it off only earning a small amount each week

my daughter has an a & l account should she refer him and go through quidco so he can get 0% on £1000 for the first year and then try to pay off what he can over that amount or save any of the overdraft over the period of interest free then pay it off that way

any other ideas the two of them have a new baby and are desperatly struggling at the moment still living at home

thanks everyone

debs

melancholly

if he earns very little each month, will be be able to get the A&L deal as it requires a minimum payment each month? it may be worth seeing what other banks can offer as a graduate account. if he can get an extra £500 interest free for a year with another bank, that may help - hard to recommend one without knowing how much he has at the moment!

not sure what else to suggest... can they do an SOA on the DFW board, or pick up any ideas on the up your income board?

wilf55

thanks mel they are planning on transferring money from one account to the other to up the income in the a and l will check out the other boards for ideas for them and post a soa when i get some more hard details from them

thanks

Blacksheep1979

Don't want to sound harsh here but he obviously graduated in June/July and hasn't made any headway in 6 months or so - he should be careful borrowing elsewhere or he may start to do serious damage to his credit score/report. Also just make sure your daughter doesn't end up 'loaning' him the money.

wilf55

it was a choice he is working but not in his specialist subject he is a semi pro basketball player and is pursuing that atm as well as coaching for cash

thanks

i will make sure she doesnt loan him !!!