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Paying Back Student Overdraft


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I am in my third year of studying and Halifax have contacted me saying they have taken away my £1000 interest free overdraft, and effectively i owe them 1000 now.

They then agreed to set up a payment plan which would stop any interest on the account. I've never had to do a repayment plan thing before and when they rang and asked how much i can pay in every month I said £80, but I really don't think I can pay that much a month as im still a student and have lots of other things to pay off this year too, I just said £80 at the time because I wasnt prepared for the call (gave me a shock to know my overdraft was being withdrawn just like that) and I thought if i said something really low like £20 a month they would get angry with me and demand the money in one go or something.


I have to pay my first £80 at the end of August, but cant even manage this really and really need to change my plan to something like £30 a month, then pay in bigger amounts everynow and then if i feel i can or something comes up (like a job.)


I need some advice on how or if i can change the payment plan to less a month, if i ring them saying i can only pay £20 or £30 a month will they be fine with that, or will they say no the plan for £80 a month has already been agreed and cannot be changed or something? And what is the best way to ask/tell them, should i ring up or write to them? And when i do what manner should i take, be really nice or sound angry?


Sorry for all the questions, just want to get this absolutely right because if i can change my plan to £20 or £30 a month I will be able to sleep better at night!!!


Thanks people!

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Go into the branch and talk to the bank manager. Ask to renegotiate to a lower level of repayment. They want your custom as a potentially high earning graduate. The fact that they asked how much you could pay back in the first place also means they'll be more likely to change it for you.

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is this linked to a student grant or loan?


if so they cannot do this.



please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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