Thread: Natwest want me to take secured loan to cover unsecured loan debt

Hi everyone

Just been reading through the fourms the last couple of days. Lots of useful info.

My situation, heavily in debt, currently on a dmp. All creditors ok, but Natwest now threatening to take me to court and refusing to accept reduced payements. They want to turn my unsecured loan into a secured one. This hasn't reached court yet but the solicitors acting on behalf of natwest admitted to my DMC this morning this is what their intentions are and they have no intention of accepting a reduced payment offer.

Any pointers would be greatly appreciated.

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Hi Martin

thanks for the reply, Natwest are not offering a new loan, they want to secure the debt which I owe them against my house.

Thanks

Mike

Hey Mike, DON'T allow them a charge. You must stick to you guns and tell them that they are being offered a reasonable payment. Who is the dmp with?
Familiarise yourself with the OFT debt collection guidance:
http://www.oft.gov.uk/shared_oft/bus...dit/oft664.pdf
Request a copy of Natwest's complaints procedure, get a complaint on the go!
you may wish to take it to the fos: Financial Ombudsman Service

Hi sequenci

I'm going to fight them all the way, but how do I go about it?

The dmp is promise debt solutions.

I will get onto the fos first thing tomorrow.

The letter I recieved from the solicitors says that if I havent made full repayment of the £9700 balance by 1030AM tomorrow, then they will take further action against me (which I found out today was the intended CO)

thanks for your help

Originally Posted by mikepb

The dmp is promise debt solutions.

Have you thought about using a FREE debt management Plan?

Natwest are MUCH more likely to play ball if you switch, it will save you lots of money too, you'll also pay off your debts quicker!

Yes, I have. I'm waiting for the CCCS to give me a call.

I'll get the ball rolling on that.

Originally Posted by mikepb

Yes, I have. I'm waiting for the CCCS to give me a call.

I'll get the ball rolling on that.

Top stuff.

It's likely that Natwest assist with the funding of CCCS so they would be more likely to act reasonbly with you. Well we can hope!