Jump to content


what happens if I can't pay overdraft?

style="text-align:center;"> Please note that this topic has not had any new posts for the last 2460 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts



I graduated from university last May, when I was a student I got a 1600 pounds overdraft from the Natwest. I am now looking for a job and still can't find one. I know that I have a year to pay the overdraft so my question is: What is going to happen if I will not be able to pay it? will it become a debt that keeps increasing with no limit? can it get to very high amounts of money? what do you do in such a situation? can you ask the bank to pay small monthly installments?


Thanks for your help,



Share this post

Link to post
Share on other sites

Yes, if you can't repay the overdraft, they will add charges - and charges on charges. They will force you to enter a spiral of debt. You might decide to borrow elsewhere at higher rates in order to control the sprial - but this would be very foolish because you will be unable to control it all for very long. Your debts will be sold on to debt collection agencies and you will be harassed and threatened. Entries will be placed on your credit file which will stay there for at least 6 years so that your ability to get further credit or to buy a home will be destroyed - and you will be unable to have a decent functioning economic life until you are eventually able to sort it all out - plus 6 years for the last negative credit file entry goes away.


The finance industry will milk you for everything you have. The they will cast you aside.

They will snuff you out.


Why don't they teach this stuff at University.

Share this post

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.

  • Have we helped you ...?

  • Create New...