Overdraft - repayable on demand! Help!

dannidoo

Hi guys, I have an overdraft with Barclays for an account which I no longer use because it was getting out of hand so I switched to another account - I think this has made it worse because now my account is 'permanently overdrawn' they have demanded I pay it back immediately - thats £1800 I need to magic out of thin air!

I was only given notice of this about 10 days ago and I got a letter from their debt collection department a few days ago. I contacted them by telephone so they could 'help' me as their letter suggested but they were very abrupt and told me to wok out my income and expenditure and call them back with details and a proposal. I gave them the details and they actually told me I have negative disposal income each month i.e. I am spending more then i have (I am sure this cant be right and think I may have over-inflated slightly what I am spending?!) I have offered them £20 per month which is the absolute most I can afford to pay as all my funds are accounted for right down to the wire each month, but they have refused to take this from me as they say i cant afford it and in any case it is not a big enough monthly payment for this outstanding amount!

My understanding was if i went to them with a proposal however small they are obliged to work with me on this. But their stance is they will not accept the payment and they can not stop action being taken against me.

Basically they are going to continue proceedings against me to recoup this money. What good is this when i really dont have it?

Any suggestions? I tried going to the CAB today but it was a drop in session and i waited and waited (with my little boy who was driving me crazy) right until 12.30pm when the shut the doors without me managing to see anyone.

I also have an overdraft on my other account to a sum of £1500 which I didnt know about until the other day as it seems my husband has not been too clever with managing my finances. I work full time and he stays home to look after our little boy so he needs access to the money. I also have a fair bit of other debt but I wont bore you with this unless you really want to know?!
:mad:

floss2

:hello:

Hi Dannidoo,

Best to 'fess up to everything, then we can help you get sorted out!

Why not get all your banks statements, c/c statements & bills out tonight, and write a out a SOA (statement of affairs). Have a look at MSE Andrea's sticky for new posters for help. We need your income detaisl including tax credits, your monthly & yearly bills & other regular payments, plus your debt payments, outstanding amounts & APR's.

Then we'll take a look & help you sort it out.

:wave:

Floss x

rachael24_2

I def. think you should take the advice of Floss here. I was thinking the exact same thing. Nice post!

the_boy_with_no_name

think the problem is that your not using the account anymore. i'm currently paying back my £1000 overdraft at £100 per month & the only way they accepted that is because there is £2200 going in every month.

if you were still using that account yuo may be in a better position to negoaite monthly payments.

if i'm way off the mark i'm sorry but it's late.

Merlot

You're right "the boy with no name", if the account was still in use, the bank wouldn't have got so snotty with you.

I would call the CCCS, they are a debt charity if you are struggling with debt, its a free service.

Merlot.x.

dannidoo

I thought of switching my banking back to them but this would leave me in the same position with my current bank as i have £1500 overdraft with them! Although I think it would buy me some time? If I switch back to them now they could take all my wages off me couldnt they?!

dannidoo

PS Can you tell me where to find the details of how to post an SOA please? I am finding this site quite hard to navigate!

maridunn

not quite the same thing, but my husband hasnt been using his business account for a while and we are at the -£999 on it, the very edge of our overdraft. anyway today i looked at the accounts and found that the business one has been closed down, and apparently 364 has been debited from our already overdrawn current account to pay for some it, along with a pound from our savings account with no prior warning, no letters nothing. surely this isnt legal?