Overdraft gone from Current Account

tomb81

Hi All

I am in a lot of debt (about £15000). I have very poor credit from missed payments etc etc

I had an agreed overdraft of £1000 on my current account. This overdraft was arranged until May 2008. I have been paid today but most of my pay has paid off my overdraft and now I do not have enough money to pay off debts, bills etc. I really need the overdraft to help me through this but am unsure that my bank will reinstate it due to my poor credit?
Can anyone suggest what I should do/say to the bank, any good tips for getting my overdraft back.?

Thanks

phildamb

tomb81 wrote: »

Hi All

I am in a lot of debt (about £15000). I have very poor credit from missed payments etc etc

I had an agreed overdraft of £1000 on my current account. This overdraft was arranged until May 2008. I have been paid today but most of my pay has paid off my overdraft and now I do not have enough money to pay off debts, bills etc. I really need the overdraft to help me through this but am unsure that my bank will reinstate it due to my poor credit?
Can anyone suggest what I should do/say to the bank, any good tips for getting my overdraft back.?

Thanks

Im not sure your bank uses your credit rating for overdraft decisions. I think they tend to just look at your habits on your account and see if they think you will be a liability. Most likely they will try to get you to take out a small loan to pay it off...dont.

I would call them to discuss it before you worry.

tomb81

Thanks for this, I will pop to my bank now to discuss with them.

Essenchill

Hope it went ok at the bank and they agreed to reinstate your overdraft

Night-owl_6

Banks will re-credit check most customers every 3/6 or 12 months to see if they have any adverse credit since they opened the account with another lender, in the t&c in most credit agreements it does state that the lender reserves the right to withdraw credit at anytime.