Anyone else seem to live in their overdraft?

I personally don't have an overdraft facility on my debit card but my OH has a terrible amount of overdraft on his. It upsets the both of us and we have vowed after the wedding that all money we would normally have put into the wedding fund is going straight into paying it off.

Yup! Though I am trying to cut it back by about 50.00 a month. Am just going to keep chipping away and I WILL get there!

?

I used to live in my overdraft until it was getting ridiculous, in the end I got a 0% credit card (I think it was for about 13mths) and paid off the overdraft and got them to reduce the limit to £50 just in case. I then set up a standing order and divided what I owed into 12 chunks so I could pay it off.

It was so much easier and I felt so much more positive not seeing a D next to the number in my bank account

Thats not a bad idea!! I may consider that and make sure I cut the credit card up straight after!!

Its depressing isn't it

Definitely give it a try if you can, the monthly payments weren't too bad as I'd set them up myself after dividing up the months (and it was interest free) and ...because as soon as I got the card I cut it up so I could never use it while I was paying it off.

But to make it work you must reduce your overdraft limit as soon as it's been moved onto the CC

At the moment yes!!! i can't even blame it on the wedding as my parents helped out hugely with that, over the last year its been a mixture of buying new house and refurbing that, and crap happening that has cost us (my car being knackard so had to get a replacement, vet bills. OH's car always needing something or other) the bloody boiler has gone this week.....crap crap crap!

Ladies let me make yo feel so much better about your overdrafts. I have been paying almost £1000 a month (for teh past 2 years) trying to get myself out of debt, some of that time my OH has been out of work so my pay has only just covered it. Our plan was that by the wedding we would be debt free, we wont quite make it but pretty close. So I am really proud of what we have managed to do. I am not allowed an overdraft on any bank account, credit card companies laugh at me and i doubt i would get a primark store card (if they did them). However it is actually relaly good, I get paid I pay my bills and the rest is then mine. There is no way I can get any more so I have to budget.

I havent got one. my OH had one, but when we went to australia at xmas we obviously were paid but didnt use any of the money cause we were away and already had spends, so he paid his off in one go. He would have been in it for ages otherwise

x

Yep we do, we have been in a bit of a mess to be honest recently but getting there cross fingers this time next all will be OK.

I transfered to the Natwest, due to the charges with the Halifax. Natwest charge about £3 a month for an overrdraft of 500 pound. Where Halifax where charging a pound a day you went into it and used it.

With my dads help I have cleared mine down which in time I will pay him back, once we are straight. We are currently in the process of paying off our joint overdraft with the Halifax and then that account will be transfered to the Natwest. My h's is scary, but at the moment we are trying to remove the smaller bills so there are not as many. Then we can start to concentrate on the larger things and throw loads at them.

So far all is working well and by xmas the joint account will be closed with the halifax.

Not since Halifax changed their rules and now charge £1 per day interest, regardless of how much you go overdrawn!!!!!!!!!!!!!!!

I used to use mine a lot when with the ex but it always made me panic and I hate it!

I struggle slightly with timings as bills are debited monthly, but I get paid 4 weekly!!! I always end up out of sync but on the plus side I get 2 pay days in December!

Yep this the main reason we are leaving them also they charge you £35 for each transaction over you overdraft. This one reason I left as I could never get out of it.

You can still try and claim back bank charges if they caused you financial hardship... Martin Lewis on Daybreak this morning!!

I don't have an ovedraft anymore, but I have very little left every month once the bills have gone out.

I think I am getting poorer by the month. ?