Overwhelmed by Bank Overdraft Debt?

You're not alone. Many people in the UK fall into a cycle of overdraft usage that becomes increasingly difficult to escape. Banks charge daily fees or high interest rates, making it hard to recover.

What is Overdraft Debt?

Overdraft debt occurs when you spend more than your account balance, using your bank's overdraft facility. While convenient, it often leads to escalating debt due to fees and charges.

How Much Are You Paying in Fees?

Some banks charge daily fees of up to £5 or interest rates above 35% APR. These charges quickly stack up, keeping you stuck in the red.

Can I Clear My Overdraft with a Plan?

Yes. Solutions like IVAs and DMPs can include overdraft debt and stop interest, allowing you to repay affordably.

What Happens If I Don’t Pay It Back?

Unpaid overdrafts may be closed and passed to debt collectors. You could face legal action or damage to your credit file. The sooner you act, the better your options.