Yorkshire removed overdraft!!

[froggystyle]

Hi, I have just had my overdraft removed by the Yorkshire bank, the amount was £2200 and i am now £1500 overdrawn with around £600 of debits due to go out in the next few days.

 

I had a letter from the bank saying they needed to discuss the overdraft and to contact them within 28 days, i forgot all about it and rang on the 28th day only to be told that there was nobody available and someone would call me back, nobdy did and when i went to the cashpoint later that afternoon they had removed the overdraft.

 

I have been on the phone to them all day and they tell me i must take out a loan with them to cover the overdraft, the posistion i am now is that direct debits will bounce and they will charge me £25 per day and another £25 for each debit that bounces. I also have very little money to last me till my next payday in four weeks.

 

I wonder if anyone has any advise on what i can do to stop the charges building up, i feel they have not been very helpful at all as i was willing to discuss bring the overdraft down each month with a fixed payement, i did explain this today to them on the phone but they tell me i would only be able to do that if it was payed off in 6 months, this would mean paying back over £350 per month whch at the present time is not something i can afford.

 

Any help would be greatly appreciated.

 

Many thanks

[reallymadwoman]

Hi and welcome. Sorry it's taken so long for you to get a reply.

 

I think it's against the OFT guidelines to suggest, never mind insist, that you take out a loan to pay off a debt.

 

However any battle is not likely to be resolved quickly, so the first thing I think you should do is get yourself a new account and get everything transferred there.

[froggystyle]

Hi, Thanks for the reply, however i took out the loan to pay it off, i really did not want to have debts building up. One thing that i have made my mind up about though is claiming back fees, i really did not think it was the right thing to do as my thoughts were that if you went overdrawn that was your fault and you knew what would happen but this whole affair has left a bad taste in my mouth with the bank that i have been with for well over 15 years! I have now switched everything over to my other account and will now hit them for all the charges as far back as i can, i wonder if anyone can advise how far back you can go??

 

Watch this space!

[cleo4patra]

Hi - they did this to me - I was reducing my overdraft each month voluntarily!! Then they started charging me £25.00 each day and left us with no money last month. I have written several times asking them to freeze or stop charges - they sent me info on a secured loan!!

I have put a complaint in with the FOS about them and moved accounts - still owe them overdraft though and have asked to pay off in instalments.