Overdraft Under 18

Soldato
Joined
18 Aug 2007
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Seems people are still confusing the terms illegal and unlawful. They're two very different things. AFAIK (and IANAL) you can be GIVEN credit under 18, it just can't be enforced - hence most companies don't/won't.
 
Soldato
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8 Nov 2005
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4,433
Rainmaker said:
Seems people are still confusing the terms illegal and unlawful. They're two very different things. AFAIK (and IANAL) you can be GIVEN credit under 18, it just can't be enforced - hence most companies don't/won't.
Correct.

As a child you are not legally responsible for your debts, but that doesn't mean you cannot get into debt in the first place. It just means that cannot normally be taken to court for debt.

Usually any bank accounts that offer some form of overdraft for children under the age of 18 require a parent or guardian to act as a guarantor in order for the bank to be able to reclaim any debts from that person.
 
Soldato
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Liverpool
If you don't pay it back your overdraft within 1month you normally get the police knocking at your door!

lolwut.jpg
 
Soldato
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8 Mar 2006
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Near Winchester
Ian,
Speak to the bank, don't wait around, the worst case scenario is it gets you nowhere, the best case is you end up with the few quid you had, plus your pocket money, and no charges. Be polite, the person you will speak to doesn't write the bank's polices.
 
Don
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21 Oct 2002
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Parts Unknown
Ian,
Speak to the bank, don't wait around, the worst case scenario is it gets you nowhere, the best case is you end up with the few quid you had, plus your pocket money, and no charges. Be polite, the person you will speak to doesn't write the bank's polices.

yup

for now, get your parents to chuck £50 in, then go into the bank and speak to someone, chances are they'll just be nice and remove the charge
 
Soldato
Joined
20 Oct 2002
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3,348
Location
Bromley
on a solo card your not allowed to do this or at least im not with my solo card and natwest. I specifically asked them what would happen in that scenerio and they said the payment would just be declined and there would not costs.
 
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