Help with overdraft!

louise1_3

Im wiith Abbey, and no they don't offer payment holidays, one option is to maybe extend the mortgage to 30 years to reduce the payments, but I haven't looked into this yet.
I was claiming tax credits - childcare tax credit and working tax credit but as I said, they have stopped my payments because they had over paid me

donsaini

how about a flexible loan with your bank, clear your overdaraft and cancel it, pay off your credit card and cut it up.

go for a loan that you can overpay monthly, without penalty. interest not front loaded. avoid PPI if you can.

maybe i've got this wrong, hope others will correct if so.

:j :j :j :j

louise1_3

Yes, thats what Im looking into, thanks.

loubie_lou

I think some banks only offer a fixed payment every month if you take out a loan with them. I'm with Egg and even though its not the cheapest APR (7.9%) you can increase or decrease your monthly payments depending on your circumstances. You can also have payment holidays every year also for the unexpected (but don't do it every year otherwise it'll take longer to pay off!)

Loubie xx

louise1_3

Thanks Loubie, I'll look at Egg then. Im curerntly looking at Northern Rock, they offer 5.7% APR, with no early payment penalty.

James240

i agree Loubi_Lou Egg may not be the cheapest but ive found that they are by far the flexiblest (i think thats how u spell it! LOL) and they have really nice customer service staff who are only to willing to help. They have helped me when i have questions plus u get the payment breaks which are very handy as well.

james

donsaini

James240 wrote:

flexiblest (i think thats how u spell it! LOL)

most flexible, is what you mean, i think

sorry me being pedantic (i think thats how u spell it! LOL)

Ember999

James240 wrote:

i agree Loubi_Lou Egg may not be the cheapest but ive found that they are by far the flexiblest (i think thats how u spell it! LOL) and they have really nice customer service staff who are only to willing to help. They have helped me when i have questions plus u get the payment breaks which are very handy as well.

james

Whoo Hoo James, that post made me smile and gave me a giggle.....flexiblest LOL . My husband says words like this, think he wants to invent a new English dictionary with his own words :rotfl:

System

What I have done is I have got a new co-op basic bank account in addition to my Barclays one and I intend to leave enough money in to just cover my direct debits and such and then move the surplus into this co op one. Therefore I know exactly how much I have left to spend that month. That is my main problem, and I never know how much I have from one day to the next, but this way I know at least my bills are covered.

Thats the theory anyway, I'll let you know how it goes in practice. I have also got a small credit card for times when I want to buy online but the site doesnt accept electron cards.

Also the co-op electron card has online banking as well which is good if you like to do online banking like me., as well as bieng an ethical bank.