RBS current account overdraft. Options?

[happy_bunny]

Hi folks

i have an RBS account I don't really use at all since 2008. It has a 2k overdraft taken out 2007 that I pay the interest on each month.

As seen from my RBS credit card thread, me and RBS are not exactly getting on at the moment

so. Options are:
1. Pay it off. Don't really have the funds at the moment.
2. Don't pay the interest in, let them default it. Come up with a deal when sold to DCA.
3. Try and pay bits/cover interest knowing they are likely to call it in at some point as they keep sending me review letters to call with my income etc. every 6 months or so, ignored to now.
4. Come to an arrangement. Don't want an AP marker...

If defaulted, how long can they continue to add charges for?

How likely to end up in court?

cheers

HB

[Joanna Connolly]

Re: RBS current account overdraft. Options?

RBS will normally continue to add charges until they formally terminate the account. That normally happens within a fortnight or so of the expiry date of your default notice. Interest may or may not be frozen thereafter.

If you're a homeowner very likely to end up in court.

Of the four options above probably better to try and come to an arrangement with them at an amount you can afford to pay. Remember that they have a duty to treat you fairly imposed under the new FCA rules.

[happy_bunny]

Re: RBS current account overdraft. Options?

Thanks.

Don't own property, I presume they know that from the valuation section on my credit report? Or do they have access to land registry. Just Curious.

Ill have a think...

Thanks

HB