Help - overdraft - lost my job

tubby2trim1982

I've an issue.
I've a 1300 overdraft.
Ive lost my job
I'll have 3 days wages going into my account which will be around 300 euro at the end of May.

Does this mean that at the end of May overdraft will be 1000 (subtracting the 300 wage from 1300 overdraft) and therefore any money I put into the account will be paying off the overdraft??

I'm at a loss at what to do. I'm applying for jobs at the mo but I afraid that I will get into debt.

I've ready a 1000 loan with aib that I pay off weekly. Could I ask aib to add the two together into one loan.

Thanks

antix80

tubby2trim1982 wrote: »

Does this mean that at the end of May overdraft will be 1000 (subtracting the 300 wage from 1300 overdraft) and therefore any money I put into the account will be paying off the overdraft??

What else could it mean? By definition an overdrawn account is one with a negative balance. It can't be both overdrawn by 1300 and have a balance of 300.

Make sure to stay within your authorised overdraft limit.

tubby2trim1982 wrote: »

I've ready a 1000 loan with aib that I pay off weekly. Could I ask aib to add the two together into one loan.

You'd need to apply for a larger loan, in order to pay off your overdraft. Get a loan of 2300.. and use 1300 to clear your overdraft.

Ultimate Seduction

tubby2trim1982 wrote: »

I've an issue.
I've a 1300 overdraft.
Ive lost my job
I'll have 3 days wages going into my account which will be around 300 euro at the end of May.

Does this mean that at the end of May overdraft will be 1000 (subtracting the 300 wage from 1300 overdraft) and therefore any money I put into the account will be paying off the overdraft??

I'm at a loss at what to do. I'm applying for jobs at the mo but I afraid that I will get into debt.

I've ready a 1000 loan with aib that I pay off weekly. Could I ask aib to add the two together into one loan.

Thanks

It'll be taking as payment for the overdraft. Just apply for another 1k online if you must, they give them out easily.

Cancel the overdraft, ridiculous having one of that size when you are obviously not financially stable

Ultimate Seduction

antix80 wrote: »

What else could it mean? By definition an overdrawn account is one with a negative balance. It can't be both overdrawn by 1300 and have a balance of 300.

Make sure to stay within your authorised overdraft limit.



You'd need to apply for a larger loan, in order to pay off your overdraft. Get a loan of 2300.. and use 1300 to clear your overdraft.

Getting in more debt to get out of debt never makes sense but looks like this is the bed OP has made

Staplor

Open a new account with a different bank, get paid into that. Then figure how to deal with the overdraft

Fol20

Ultimate Seduction wrote: »

Getting in more debt to get out of debt never makes sense but looks like this is the bed OP has made

It can make sense depending on situation. If your paying overdraft or credit card debt at 20pc while a loan is 10pc. Your better off consolidating your debt into one loan and then pay off your debt.