Hi
I am with A*B and they are taking away my overdraft as basically I haven't really been in credit for the last year or so. My o/d is 3,200. On our joint a/c we have an o/d of 2,500 and my husband has an o/d of 10,000. Only my o/d has been reviewed and withdrawn but I am sure that the other two won't be far behind. My o/d is being withdraw next week and I spoke to a very nice person in the bank and basically the option will be to convert to a loan. I want to look at our overall postition as I don't want to have to reassess when the other o/ds are withdrawn. We have 2 CU loans which total 13K but we have savings tied up of 8K in these which means we are paying interest on loans of 13K when it really should be 5K. Do you think the bank would give us the money to pay off the CU loans so that we are only making one repayment. We would therefore be looking at a loan of about 22K. We are currently making repayments of 863 per month. I haven't looked at all our outgoings yet but would hope to be able to make repayments of between 500 & 600 per month. Which would equate to around a 3 year term. Do you think the bank would be amenable?
I am with A*B and they are taking away my overdraft as basically I haven't really been in credit for the last year or so. My o/d is 3,200. On our joint a/c we have an o/d of 2,500 and my husband has an o/d of 10,000. Only my o/d has been reviewed and withdrawn but I am sure that the other two won't be far behind. My o/d is being withdraw next week and I spoke to a very nice person in the bank and basically the option will be to convert to a loan. I want to look at our overall postition as I don't want to have to reassess when the other o/ds are withdrawn. We have 2 CU loans which total 13K but we have savings tied up of 8K in these which means we are paying interest on loans of 13K when it really should be 5K. Do you think the bank would give us the money to pay off the CU loans so that we are only making one repayment. We would therefore be looking at a loan of about 22K. We are currently making repayments of 863 per month. I haven't looked at all our outgoings yet but would hope to be able to make repayments of between 500 & 600 per month. Which would equate to around a 3 year term. Do you think the bank would be amenable?