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Overdraft revoked


Jim J
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Had a letter from the bank last week saying my £2000 overdraft will expire on the 3rd December, and I need to re-apply for it.

 

As I've been struggling for work lately, I'm more or less up to my limit, and I've now had a letter saying my application has been rejected.

 

So does anyone know what will happen next? Will I get massive overdraft charges while I'm still in the red? I've got a bit of work lined up to see me through xmas, but there's no way I can repay £2k

Charges, my account £2825 and my joint account £1040

 

Prelim letter sent 7-8-06

Received reply 17-8-06

Sent 2 LBA's 21-8-06

Offered £140 on joint account. 30-8-06

Offered £700 on my account. 31-8-06

MoneyClaim issued 5-9-06

Acknowledged 12-9-06

 

Letter from Halifax saying they will pay 15-9-06

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They will initially request that you bring your account into credit. However if you contact them and explain your situation they may come to an agreement wher you can reduce your overdraft gradually over a period of several months.

Please note: I have no qualifications in this area and any advice offered is given in good faith.

 

 

http://www.financial-ombudsman.org.uk/publications/Ombudsman-news/40/40_setoff.htm

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Once you have brought your account back into the black, they will still allow you to overdraw on the account, but of course, only on an unarranged basis. No need to explain why..

 

I'm challenging HSBC on this issue right now.

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My main problem is that I've got funds due to go into my account later this week, and as from tomorrow my overdraft is revoked, so I'm worried I wont be able to access my money. I'm due to start a job next monday, so I can set that up to go into my other bank account.

 

Think I'll have to ring them today to see what will happen, just wondering if its worth me withdrawing what little I have left in my account before then.

Charges, my account £2825 and my joint account £1040

 

Prelim letter sent 7-8-06

Received reply 17-8-06

Sent 2 LBA's 21-8-06

Offered £140 on joint account. 30-8-06

Offered £700 on my account. 31-8-06

MoneyClaim issued 5-9-06

Acknowledged 12-9-06

 

Letter from Halifax saying they will pay 15-9-06

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