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24/03/2009 3:51 pm
Hi all,
I've been in my trust deed for 9 months now and so far all has gone very well.
Unfortunately, I have been caught out by a debit card payment I made over a week ago, which has only just come off my available balance. As a result, my bank account went overdrawn by just over ?ú10. I immediately paid funds into my account to rectify the problem, but the bank have informed me that this remains an unauthorised overdraft for which I will be charged.
I'm quite annoyed at myself for allowing this to happen as I've been meticulous with my finances since taking out the TD. What concerns me most however, is that I don't know what consequences (if any?) are attached to an unauthorised O/D taking place while someone is involved in a trust deed?
Can anyone advise?
24/03/2009 4:05 pm
Hi imcville, and welcome to the Trust Deed forum.
I suspect this will not cause an issue with your Trust Deed due to the relatively minor amount of money involved and the accidental nature of the matter.
I'm sure one of the experts will be able to reassure you further on this very soon.
We would suggest that you make an argument to your bank that a charge would be unjustified given the very short-term nature of the problem and because you are living on a restricted budget during the Trust Deed. Hopefully they'll consider waiving the charge which only seems fair considering the information you've given us.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
24/03/2009 4:09 pm
Many thanks for the quick reply!
I suspected this would probably not be too much of an issue, but you can never be too careful!
I've already spoken with my bank about having the charge waived, so hopefully they will agree to this. It's my first (and hopefully last!) offence...
24/03/2009 6:55 pm
Hi imcville
The overdraft won't be an issue at all under the TD. Hopefully the bank will waive the charges though.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
25/03/2009 11:24 am
Thanks Mark - much appreciated. I should hear back from the bank today on whether the charge is going to be waived.
