Bank have reduced overdraft by £1000 and given us two days notice

[peacelover]

Hi. Having a major money emergency and would appreciate some advice. Me and dp graduated last year and both have student overdrafts. This month is the first month that we have to start paying interest. Costs a pound a day. Fine. Dp has struggled to find full time work and has only just started paying it back. He phoned up and asked them to reduce his overdraft to £2500 today. They decided that they were going to reduce it to. £1250 instead and he had to pay the difference by the 1st august. We now have to conjure up over a grand in the next 2 days or he will be charged an unauthorised charge of £5 per day. Any advice at all is welcome.

I have had the same thing, except they took mine off me because several Direct Debits didnt get paid while I was in hospital having DS - a very traumatic birth. They have now written to me and told me that I need to pay off the outstanding balance of over £800 by the first otherwise they would take me to court, with me on maternity pay (half my wages) and DP in a low paying job. On the breadline already, lots of debt...

No real advice here, other than to call them and tell them you can't pay and see what options they have for you - my bank were absolutely no help whatsoever but you might be lucky.

I feel your annoyance and worry - its not good [in the same boat face]

Agree with contacting the bank and explaining your circumstances. Do you have any family that could sub you the money in the meantime?

bank did this to me once and I was charged fees for going overdrawn when I didn't request the reduction in my overdraft. I ended up getting the money re-credited to my account. Bastards. Wasn't easy. And it was only that i was on ml with dc1 that I had the time to go into battle with them.

Barclays btw. name and shame. name and shame.

Think you need to speak to a human being who is capable of making a decision. A lot of these things get 'flagged' up by a computer system and it doesn't really make sense now that you are putting money into the account that they are making it difficult.

So, call them up and agree a payment plan, or perhaps ask for it to be turned into a loan? At least that way you will be protected in that they won't call in a loan if you are making payments!

Well we went into another bank of scotland branch and spoke to them. They were adament that they couldn't do anything and couldn't provide any advice. We then travelled to another branch which is beside the university as we thought they would naturally have more dealings with student accounts. After a long discussion they managed to change it for us. Am still raging because we could easily have incurred massive charges if we hadn't pursued them. I hate bank of scotland! The second i'm debt free - will be changing banks! Thanks though everyone!