Discussion
As title suggests, question about bank charges. I have looked at my account online today and have found that the well known 'local' bank, (even if it is on the other side of the bloody world), have put a charge on my account of 151.76. Although I have gone overdrawn last month, I have already paid money into my account to cover the money I owed to them, albeit in the form of a cheque. so would I be able to get them to take the charges off the account? Even if they can't, can they agree to accept a sum of money every month until the debt is paid off? I ask as I am now coming to the end of paying off a debt to the same bank, and this would put me straight back into the red, so would like to avoid if possible! Anyone had the same situation and what did you do?
Beefbeef
Beefbeef
The "local" bank will set you up an overdraft for the amount of money you are overdrawn by and then set you up with a re-payment plan (after telling them about every penny that you spend) which they will reduce the overdraft by every month.
This DOES however count as an agreed repayment of a debt* so it will affect your credit score whilst you are paying it and then 6 months after you finish. It's no where near as bad as leaving it overdrawn however as after a full month they will count it as non payment of a credit aggreement.
I had the same problem but to the tune of nearly £1K so your not too badly off (I was young and messed about with money) This is exactly what I did but as mine was a lot bigger than yours I was paying back £140 a month...not sure what they would expect you to pay back but it will all be based on your income and expenditure.
One thing I would reccomend is you inflate one or two monthly bills by £20 or so quid because they will make you pay back exactly what you have left at the end of the month after food, fuel, bills, etc so it leaves you no room if your a little short one month.
(*)Other credit companies will see it as you had trouble paying back at the agreed rate per month and had to ask to reduce it as this is the most common reason for that kind of mark on you score.
HTH
This DOES however count as an agreed repayment of a debt* so it will affect your credit score whilst you are paying it and then 6 months after you finish. It's no where near as bad as leaving it overdrawn however as after a full month they will count it as non payment of a credit aggreement.
I had the same problem but to the tune of nearly £1K so your not too badly off (I was young and messed about with money) This is exactly what I did but as mine was a lot bigger than yours I was paying back £140 a month...not sure what they would expect you to pay back but it will all be based on your income and expenditure.
One thing I would reccomend is you inflate one or two monthly bills by £20 or so quid because they will make you pay back exactly what you have left at the end of the month after food, fuel, bills, etc so it leaves you no room if your a little short one month.
(*)Other credit companies will see it as you had trouble paying back at the agreed rate per month and had to ask to reduce it as this is the most common reason for that kind of mark on you score.
HTH
Edited by ymwoods on Sunday 6th June 01:13
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