Hello everyone hoping to get some more wonderful help from someone that can help

My husband has received a letter from nationwide today saying they want to reduce our agreed overdraft limit on the 7th of November.

We do not have the fund available to us to do this and if they do it we will have to leave the overdraft at what it is now

and will start to (I assume) incur fines, which will quickly spiral out of control as there is little chance we'll get it to what they want any time soon.

I would, if the situation was better, ask family for their help in the matter,

but we already owe several hundred to my parents and we are already living mostly rent free with his parents

(who are also having money problems, so much so they could really do with us giving them more).

Can anyone advise me on what my options might be?

My husband also has a mental health illness that things like this certainly don't help (under treatment)

so what can I send to them so they speak to me only and not involve or worry him?

Many thanks to all and I'll try and answer any questions I can

Raise a complaint with NAtionwide advising that you are unhappy with their decision;

[email protected]

There are lots of these letters going out at the moment.

They tried that with me they got a stern letter.

They wanted to reduce by 250.00 in one hit, they didn't get it,

but I have agreed to reduce the overdraft facility at a rate that will allow me to live and buy food and pay my bills on time.

Revenue services are a good place to start.

Did they give you the 21 days notice as required in their T&C's?

Hello again, sorry I've not been responding, I havent been getting alerts to new posts it seems.

I'm also in talks with them trying to get them to agree to a reducing overdraft arrangement,

I'll post more tomorrow but for now I'm going to try and find where in their T&C that 21 days bit is. Is it working days?

Even if its 3 weeks from writing the letter the deadline should make it Wednesday

and they've adjusted the OD 2 days early on Monday.

I'm sure I'll be back here soon

Bah, looks like the T&C says

Any overdraft that we give you can be immediately reduced or withdrawn by us and all overdrafts are repayable on demand.

We will aim to give you not less than 14 days’ notice before reducing or withdrawing your overdraft or demanding repayment.

The person I'm emailing regarding this does not seem to be on the ball.

She forgot to attach an income and expenditure form, and seems to be under the impression that having the 250 come out of my account was fine by me

and that the reducing overdraft was to reduce it even further afterwards. Not what I said.

So, questions going forwards.

I will be happy to enter into an arrangement with them,

do I HAVE to fill out the Income and Expenditures form with them?

Or can I say that I am able to repay X amount a month?

I entered into discussions with them by writing (email) before the deadline,

and the person I'm speaking to has read into the situation incorrectly,

thus now placing me into a bad position finance wise

(they've taken away what overdraft there was still available, meaning if anything tries to come out of the account its gonna royally muck everything up),

will they have to re-evaluate whats gone on already and make things fair (ie give me a chance to arrange the reducing repayment)?

I'm asking them to return the limit to £1000 until an arrangement is in place,

am I able to do so and should they be taking note of it?

There probably is more I should ask or say but it's 4am, I should sleep.

Hey again,

just wondering if anyone can help me with wording an email back to Nationwide regarding this.

I've sent them an Income and Expenditure statement stating that my income is £300 after all our outgoings except debt payments. I

f we take the Debt payments into account it leaves us with 31.50 'spare' each month

(actually less as I've miscalculated something but we can work around it in the short-term).

I've offered them £25 but they're asking for £50.

I could just bluntly say to them that their calculations are likely to leave us in problems

but does anyone have a suggestion on how to get them to take notice?

I seem to repeat myself alot with these people.

How detailed was your I&E? did you include all of your expenses? Like TV licence and pet insurance? Things like this often help.

Having had this letter myself they wanted a significant amount I put my case forward and had this reduced to less than £50 PM.

Make sure they send the agreement in writing so if they fail to stick to it you can then make a formal complaint.

Also did you take out a credit card with them on your account? If so they may try the same with that too..

Hey there,

the I&E was fairly in-depth and yes had everything like TV Licence etc listed.

I'll shoot off an email to them outlining CLEARLY that their suggestion would leave me around £20 short each month.

They don't seem to read everything I say at once, which ends up with me repeating myself a few times.

pers id be getting out of their and fast

get any income you have paid into a parachute account

and let them sweat.

how much of this OD is what can be deemed as 'penalty charges' for say failed DD cheques etc etc?

id also be investigating something like BCOBS and vulnerability status.

are they aware of you husbands issues, as that could well play a part here.

what is your main source of income too?

dx

I would also like to say that I actually went in to the branch and spoke directly to the financial adviser face to face. I also took in copies of everything that would help.

In my situation it is slightly more complicated, but having the advisor read and speak to recoveries may also help. Remind Nationwide that you need to keep an emergency fund for that reason you can argue with them on this point too.

It could also assist you in as much as you let Nationwide know about your husbands health. It can and should help you....

Luckily all our income goes into a separate account already, the Nationwide was our dedicated bill account.

Prior to this there were no penalty charges, except the odd one or two from years ago when the account was our only account.

However because of this I think they've charged me for 2.

Now one e-mail from a woman had said any charges would be refunded as I've been in contact.

I've yet to get the current man I'm speaking to to comment on them but I have bluntly bought them up in the latest

email to them so here's hoping I get a straight answer back.

As to telling them about my husbands health in what way could I see a tangible benefit?

At the moment I am writing letters in my husbands name (with his full permission,

he would rather I sort this out for us), and with how easily 'confused' these people seem to get I dont know if I want to muddy the water

with them getting confused as to who they can/are talking to.

Letting a creditor know there may be an issue is always a good idea.

Simply because once they know about and fail to act accordingly then you can make a complaint under bcobs.

They already know they have to deal with debtor's in a professional way and take all known circumstances in to account.

Have a read in the library section about BCOBS complaints and see how some of the template letters could help you.

Entering in to an arrangement to pay (AP) could see it entered into the credit file/s of the account holder credit file.

But once Nationwide know they tend to be very helpful in the long run.

Again this is your decision if you wish to do so.

It can only help in the long run.

In my case a particular purchase took my income below the required income level and triggered a credit check.

They tried to demand repayment in full then changed to to an amount that left me far too short to live on.

But I lodged a complaint and called in to the branch and provided proof.

They then looked at my account again and agreed that they were wrong

and then made an arrangement with me to reduce it over a longer period of time.

This was accepted and I think because I gave them the fuller picture.

I hope this helps but every account is reviewed differently....