Abbey overdraft and court action

[Moodymulder]

Hi Abbey customers,

 

My good friend, over the past 5 years has accumulated approx £4500-£5000 in various charges for non DD payment to going over agreed overdraft limit etc with Abbey. My friend is one of the most disorganised people you could meet but has finally decided the time is right to get on top of his financial affairs.

 

He has asked me to ask current Abbey customers who have initiated legal action against the bank if when they have done this have the bank taken away their overdraft facility. He has just had his overdraft limit reduced from £3500 to £2700. He at this moment in time simply cannot cope without his overdraft.

 

His overdraft review was 2 months ago and subject to another review next year Oct 07. What are the chances of the Abbey taking the hump with him once he starts action against them and reducing his overdraft to zero?

 

Thanks

 

Moody

[octron32]

hi if your friend is owed 4500-5000 and his overdraft is 2700 when you get your money back he can pay off the overdraft and still be 2000ish up. get a parachute account and get any money paid into this transfer dds etc. that way if they do take back the overdraft so what, you can pay back with the money you will get. and if they add more charges etc get them written off.

 

if you do open a new account it will be in there interest (no pun) to get there overdraft back, so may pay up quicker (big may though).

 

have a good look around the site as im sure you have, i would recommend following some abbey threads with a big reply count, that way you can see what your up against.

 

steve