hi all,

im after a bit of advice i currently have 2 bank accounts one with barclays and one with hsbc , i do not use the hsbc account this is a solo card account and my barclays is a visa debit account. my question is i have an overdraft of 1490 on my barclays account which im currently in fully and only get paid around 1000 amonth so this never gets fully cleared . should i transfer all my wages and direct debits etc over to my hsbc account and try and pay my overdraft of a bit at a time monthly ? ive just sent of bank chrage claims to barclays for the excessive amounts they have charged me over the years (my own fault i know) so they could close my account anyway. i have never had any problems with barclays its just i cant seem to get rid of this overdraft whilst im currently using this account. also would it improve my credit rating if i switched accounts?

hope ive not waffled on too much

lisa

has no-one got any advise for me :-(

lisa

Lisa - I think you should get onto Barclays and get them to set up a plan where you reduce your overdraft by an agreed amount each month - say £50 or whatever you can stick to. All you need to do is make sure you keep the fifty quid over so the balance can be reduced without incurring more charges. Soon you will be overdraft free and saving £50 a month.

Changing your banking to HSBC may result in Barclays demanding all of your overdraft money in one if they decide to close your account in light of your claim for unauthorised overdraft fees.

Hope this helps.

JJ