Me v Nat West

**munchkin0110** · 8th March 2007 00:48

Hi
I have approx. £6.5k overdraft icon

with NW on a closed account (they closed it). I have sent my first letter to them asking for over £7.5k (should be £8.5k but I forgot to add the interest they had charged me since last summer). I have received a letter to say they are looking into it. I repay this overdraft at a an agreed rate each month so really should be asking for a refund of all those payments as well I think.

Anyway just researching the threads as I'm a bit concerned as it's above the £5k for the small claims process. Can I still claim and should I consult a solicitor?

Bit concerned about all the threads, process seems complicated with Cobbetts involved and asking for various bits of info but I guess I'll cross that bridge when I come to it.

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**Rooster-UK** · 8th March 2007 01:53

Hi Emma.

Just a simplified example to clear up your confusion regarding the payments that you've made.

Imagine your overdraft icon

is £1000 and you are claiming £1000 in charges.
The overdraft is a debt to the bank. If they now pay up in full, the £1000 repayment would cover your £1000 debt and cancel it out. Although you have no extra cash in your pocket, you are, in effect, £1000 better off because you no longer owe it to the bank.

If you have repaid £200 of your overdraft, the repayment of £1000 will cover the £800 still owed to the bank and will give you £200 cash in your pocket.

If you tried to reclaim the payments that you have made on your overdraft as well, you would be trying to reclaim £20 for every £10 paid, in other words twice what the bank owes you.

Not really a going concern. After all, you wouldn't wish to pay the bank twice what you owe, would you.

Good luck.
Regards, Rooster.

**munchkin0110** · 8th March 2007 09:07

Thanks for the reply Rooster.

The amount of charges they actually owe me is close to £8.5k now so you can see that the overdraft icon

is completely made up of their charges which is another reason why I want to go for the whole lot and not keep it under £5k. I do want the overdraft clearing. But I have paid nearly £800 towards this overdraft which was not of my making so that's why I mentioned claiming for that back. To be honest I just want the overdraft clearing and my contributions refunding as the whole thing has caused me great distress icon

and financial hardship (which will never end as they charge me interest each month which is more or less what I repay them so I'm never going to pay this thing off). My main concern is the large amount of it.

**munchkin0110** · 16th April 2007 13:40

Nat West have offered me £5050! I have sent a rejection letter as I would still have over £2k overdraft icon

to pay and I want it all wiping out. Watch this space!

**munchkin0110** · 23rd September 2007 09:54

I finally found the £250 to pay for the court claim a few weeks ago. Cobbetts have now sent a letter ackowledging the claim and advising me that in light of the OFT Test Case have applied for a stay which obviously concerns me because not only does it protract things even further and I need the money now but will I get it back at all?

My claim is now for just over £12k and has been ongoing since February. Can I object against the proposed stay? And if so how is it best to go about this?

My overdraft icon

currently stands at approximately £6,500 and I have been paying £80 per month on standing order towards this debt which has been and is causing me considerable stress. I can no longer afford the £80 due to other financial pressures and as I have filed a claim I have reduced the standing order to £10 per month which I intend to write to inform them about. I have presumed that as I am still paying something towards the debt they have caused me and as the account is now at court then I am OK to do this. They will probably argue not and that I have defaulted on the agreement but I think as long as I am paying something it's OK? It's only if I stop paying altogther that I could get into trouble?

Help as always appreciated...

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