Hi Everybody
I am sure by now that you have read my recent blog post about my experience of being victimised of scam and fraud 5 times plus me being in overdraft debt. mrlimitless95.blogspot.com
Before I get to talk about overdraft, I have a update that I want to tell you & it is a good news.
Update
As of yesterday (Sunday 21st February 2021), my mother had added £354.19 on my bank account. So that means my bank balance is back to normal with small amount of £10. Just to avoid being in the position to pay overdraft fees (not being in a loophole because I don’t want to be charged with overdraft fees if I haven’t done anything to do so given I know banks have overdraft rates). So I am glad that I am out of overdraft debt. What a relief. 🙂
However i am not out of the woods yet. I still need to hear from my bank Barclays about their response to the letter that I posted. If I don’t like their response then I have to proceed with taking them & Fraudulent Travel Agency company (Travel Unravel who bothered me & my dad about something that wasn't part of flight ticket = weight limit given I paid on my dad's behalf for my dad's friend coming from Nigeria) to court.
That’s all I can say about it.
Now today’s blog post about overdraft.
Blog post
What is overdraft? Overdraft means that it’s a deficit in a bank account caused by drawing more money than the account holds.
So in other words, not only that bank overdraft is a debt. It is also an financial danger.
Now I am lucky that I didn’t have to be in overdraft debt for long given i was in that situation shortly. It would be an nightmare if I didn’t do anything.
Overdraft can damage your credit score. Yes, it can because it will be on your credit file for years unless if you are in overdraft debt & your bank account is overdrawn (no money in your bank account), it’s better to act now than rather letting it happen severely bad with yourself being charged with overdraft fees.
Overdraft has limits of how the person can borrow. Arranged or not.
Being in overdraft is never a good feeling. It can affect your self esteem and mental health. I shed a tear in the evening (Friday 19th February) given I am not really a crying person.
There is always a help to get you out of a financial mess (even if you don’t spend too much money) & that there are a lots of things can put you in overdraft with your bank account being empty (zero. Minus). Things does happen out of the blue especially when it comes to finances.
My point is that you don’t have to be alone of experiencing an financial danger like overdraft because being in overdraft is financially dangerous.
So I have just lay out my tips & shared my story of me in overdraft for you so that you won’t have to be in overdraft & that you don’t let it happen.
Lastly, I hope that I won’t have to be in that situation ever again.
Here are the sources that can help you if you are in very difficult position (overdraft).
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