Tag Archives: overdraft

How much is your overdraft costing you?

posted by in Living with debt Leave a comment

Do you know how much your bank charges if you go into your overdraft or if you go over your limit? Many of our clients pay hundreds of pounds to their bank as a result of unarranged overdraft charges. In some cases it can be more expensive to go into unarranged overdraft than it would cost to take out a payday loan.

We’ve carried out research that shows that overdraft charges are adding to the debt worries of our clients and the costs of having an overdraft might be higher than you’d expect. We believe that the FCA should take action to limit unarranged overdraft charges. Continue reading »

Tags

Regularly hitting your credit limit (debt danger sign #1)

posted by in Budgeting Leave a comment

Mini Graphic 1

As part of Debt Awareness Week we’re discussing the five danger signs to help you avoid them, or if you’ve tried to deal with your finances in this way, how to get help sooner.

First up, a bona fide danger sign of debt is coming too close to your credit limit on a regular basis.

With living costs steadily rising over the years, it’s become commonplace for many people to fall back on their credit cards or overdraft to make ends meet, using the money on such a regular basis that it ends up not seeming like a debt at all.

Continue reading »

Tags