Question about overdraft!

Question

i have a 100 pound overdraft, im with abbey, im currently overdrawn by 100 pound, im out of work but recieving money every fortnight, can the bank stop my overdraft because im not recieving weekly money?

Answer 1

If your account shows no payments going in then they will contact you for their money and sometimes, if you are honest and make a fair attempt to pay as musch as is reasonably possible every fortnight, then they may just be lenient.

I have found it to be far better to inform them of your situation plus it avoids administration fees they pile on top when chasing their money.

Answer 2

You'll most likely receive a letter through the post reminding you in about a week or two.

Answer 3

if you tell them u r out of work, they will stop your overdraft.

make sure you dont overspend a penny more than that £100, you will be charged £30 penalty.

So if you have £5 or £10, put it in your account so you dont get charged.

Answer 4

as long as you don't go over your limit you should be fine as staying within your limit wont incur any charges, they wont just remove your limit! try and pay in a small amount each time to try to clear it though just so your not worrying about paying it off all in one go. also maybe speak to the staff if you're worried-they're there to help.

Answer 5

Yes and no. In theory the can end your over draft at any time and ask for it to be paid back. They can't just take your benefit money and wipe out the over draft as that would be them seizing benefit money to claim arrears, which is unlawful - if they do that seek support from your local CAB immediately, to avoid any potential of this happening why not open a Post Offfice account and get your benefit paid into that until you are back on your feet  

Answer 6

the bank can stop your overdraft any time they want to