credit card blocked - current account with same organisation - help!

dreamdrift

I am just wondering if anyone knows the likelihood of:

1) getting accepted for a loan to consolidate my overdraft and my credit card within the same organisation (Nationwide), when the credit card has already recently been blocked because I missed a repayment one too many times and I am at a stage where I am expecting the demand for the £1000 to be returned in full to arive through the post any time (I also have a default with another bank)

and

2) the process of applying for this consolidation actually triggering a process where Nationwide either withdraws my overdraft facility, or using the money left in my overdraft to offset the £1000 credit card debt, both of which would screw me over?

Thanks..basically I just found out that my credit card has been blocked which is frustrating as i am now able to make the repayments on time every month..and the £1000 debt I would like to deal with on its own accord, it's just that if they take the money in my overdraft I am finished!

olly300

Financial institutions are allowed to use one account to pay off another so they are not owed money. They are also allowed to remove your overdraft at any time they like for any reason they like.

I suggest you read the T&C for all your accounts.

If you are financial difficulty I suggest you talk to the institution rather than burying your head in the sand.

Also if Nationwide remove your overdraft when you have the loan it will be the best thing for you as you will have to learn to manage your money. I suggest you go over to the debt free board for support, and to the moneysaving old style board to learn how to reduce your outgoings.