What happens if I have insufficient funds in my account?
Monday 21st June 2010
I have an overdraft of £3,000 with rbs. It is overdrawn by £2,999. I am getting around £45 interest a month on this and cant afford to pay it. What happens if there is only around £8 in my account when they take off the £45 interest.. im pretty worried?
Thanks
Answer:
You should go and talk to the RBS and try to come to an arrangement with them on repayments. If you don’t they will levy further unauthorised overdraft charges on you. You should also speak to a debt charity like the National Debtline.
Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find and IFA please go to http://www.unbiased.co.uk