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Overdraft Debt Help Scotland – Guidance

Overdraft Debt

With A Trust Deed You Could Write Off Your Unaffordable Debt

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What Is Overdraft Debt?

An overdraft is an agreed amount of credit attached to a bank account. It allows your account to fall into a negative balance, where you have spent more than you had in the account. Provided you stay within the agreed limit, this facility should always be available. However, the bank does have the right to withdraw it at any time.

Banks will often charge interest or daily fees on the amount that you are overdrawn. The fees that are charged for overdrafts are usually higher than that of personal loans or typical credit cards.

How Does An Overdraft Work?

Bank accounts fall into two main categories: basic accounts and current accounts.

Basic Accounts

With a basic account, you will not be offered an overdraft or cheque book, so you will not be allowed to fall into a negative balance.


Once your balance is close to zero, any attempt to withdraw money from an ATM or to use a debit card will result in your request being declined. Some accounts allow you to set up standing orders or direct debits, but again, if there are insufficient funds in the account, they will be rejected.


Current Accounts


When you apply for a current account, you will usually be offered an overdraft facility. With the use of a chequebook, debit card and direct debits/standing orders, falling slightly below zero can be very common and if you are close to your next pay day, then this often causes little to no problems.

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How Can I Deal with My Overdraft Arrears?

Pulling yourself out of an overdraft can be challenging and even once you succeed, it can be all too easy plunging back into debt.


There are a number of simple steps you can take:


  • It can often be a good idea to reduce your overdraft limit as you reduce your debt. This helps to deal with the temptation of overspending again.

  • Add a ‘repayment’ into your budget to allow you to pay back your overdraft. If you can only afford small amounts, then open a savings account to hold your repayments. Once you have saved £100, move it into your account and reduce your overdraft limit.

Who Can Help Me with My Overdraft Debt?

If you are having trouble repaying your Overdraft or if you have other unsecured debts that are beginning to get out of control, then the following solutions may be right for you:


Contact TrustDeed4Me for help. We can help you begin to get your life back on track.

Can I Apply For An Overdraft Debt Write Off?

Since your overdraft is an unsecured debt, it could potentially be written off as part of an Trust Deed.


Trust Deeds are solely available to residents of Scotland. If you are a resident of England, Wales or Northern Ireland, then visit our sister site IVA4Me.co.uk to find out about Overdraft Debt Help.

Overdraft Debt FAQs

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