I have an overdraft with the co-operative bank I am being charged interest is there any way, to stop the interest charges, apart from paying off my overdraft if I am in financial difficulty?
Co-operative bank
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Re: Co-operative bank
RIng or go in to see themSorry i'm just thinking out loud, it might be irrelevant, I am not employed in anyway in the legal profession, please ensure you research any advice I give before using it I have been known to be wrong on multiple occasions.
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Re: Co-operative bank
As phaeton has said go and see them. You need to do an income and expenditure form. There is one on the site or you could contact one of the debt charities for help, eg. stepchange. The earlier you get this looked the easier it will be.
When you are completing the income and expenditure include everything down to the last pack of gum.
Change as many branded goods to generic as possible. Cut out most of the takeaways and ready meals. Look at your alcohol, tobacco, and gambling consumption.
Use a bike for short journeys, consider getting rid of your car.
When you shop draw up a list and stick to it. Although some substitution is allowed if there is a product in the discount shelf .
Buy clothes from the charity shop.
If you have a bank account from a different institution now may be the moment to get you wages paid into that.
Speak to all your creditors and see if they will have some forbearance.
Getting our of debt I'd hard but extremely worthwhile.
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