Hi,

I had an account with Natwest, which was shut down about 6 years ago.

At the time, I had my Overdraft of £1800 (all owed), a loan for £1000 (£897 remaining), and one for £5000 (£3976 remaining).

Due to my financial issues due to illness, I'd had to live off what little credit I had, and

after a few months of being unable to keep above the maximum 1800 Overdraft (frequently going to £2000 when bills hit) my account was closed

Following this, I was taken to court and something (I forget the technical term now, sorry) was put on my house

so that when sold, my outstanding debt to Natwest would be paid out of any monies I received.

We have since sold the house to a housing agency (again, lost it due to ill health and financial issues) and

NAtwest received nothing because the mortgage was not fully paid off.

Following this, Natwest sent debt collectors.

MY wife was had by Shoosmiths (for similar level of debt)

I think mine were Cabot financial (They currently take £2 a month from me,

but I'm sure they said it was passed on however I've received no new paperwork)

the debt is now with a debt collector.

This morning I got a letter from RBS, regarding my Natwest loan, to tell me that I'm due over £800 in refunds

Which will be paid into my account if it is still active, otherwise I will receive a cheque.

MY account was closed, I do still get statements every 6 months about what is still outstanding.

Will my refund get paid to these account, despite being closed, or will I get it?

As if I receive it, I'm quite happy with my current £2/month arrangement and don't wish to just send them nearly a grand,

when I've got other bills that are slightly behind now (council tax, water, TV, gas) that I would like to clear off,

and I could do that with the payout,

and still have a little bit over to help at christmas.

As I paid these bills at a time when I owed them nothing, and I was not given a real option of not paying

(I was flat out told I had to have it or I'd be refused).

To me, they took money they should not have had.

it should definitely all be paid back to me, for me to do with as I please.

I realise they won't see it that way though,

but just wondered if anyone else in a similar situation has had this happen, and received the cheque?

As they only send me updates every 6 months,

I wont find out now until March, as I got my update 3 weeks ago. :\

So I'm hoping someone here can help me a little sooner.

so you have a charging order then

how much of this debt is penalty charges

did you ever get all the statements from NatWest?

you should SAR them if not.

if NatWest are sending statements, then they think the account is active they could offset

however, have you calculated they are redressing you properly?

dx

Charging order, thats the one!

I'd say about £600 is penalty charges on the overdraft, from them not being able to collect my loan repayments.

I did get all my statements, as far as I recall.

The Redress seems to be accurate,

I calculated it myself (in fact, they sent me a wrong one a few months back, this is a second one that they have agreed to) and it all adds up now.

If they still think the account is active, and the DCA are only acting for them rather than buying the debt, do they still keep all the redress?

or am I entitled to the Interest on the redress (roughly £150) as I read somewhere that they can't keep the interest, but not sure how accurate that is.

they cant keep the 8%

on the CO, you say you are paying it?

I hope to the claimant?

dx

The Charging Order was our outstanding debt from Natwest, set against the house.

When the house was sold, and they received nothing,

I assumed the CO was over and the debt went back to regular debt,

because a month afterwards was when we got letters from Cabot and Shoosmiths

explaining that they were having our debts,

and had been instructed to collect them.

They accepted £2 a month, each, and we've since had no issues.

We sold the house 30 months ago, since nothing was mentioned about the CO other than a new instruction to collect the debts from these two companies.

If they can't keep the 8%,

does that mean I'm definitely going to be receiving a cheque for the interest of £157.12 then?

or will this somehow be worked around so they get it?

on the redress letter it will give you a figure for the 8% statutory interest they have refunded you

that portion of the PPI refund is YOURS.

they cannot offset it.

I am VERY concerned about this money you are paying cabot and shoe's

sounds like you are being cash cowed.

dx

Do you really think there's that much issue with Cabot and Shoosmiths?

They are who we were paying to prior to the Charging Order (The charging order itself was ruled to go straight to Natwest) they stopped all collections when the charging order was made, when the charging order ended due to sale, it was only then that they got back in touch claiming to be doing it on behalf of Natwest.

Should I contact Natwest about the accounts, to find out if they are still open and if these two companies should be taking the payment?

a charging order secures the sum of the debt should you sell.

you've sold it the charge will no longer be there.

so theres no call from NatWest to pay it

they lost out..tough luck them

NatWest had the co, they are the claimant [were]

nothing at all to do with cabot or shoes

you are being had blind.

have you ever received any statements from either of them..i bet not!!

dx

Right, Natwest lost out n the Charging Order, but I still owe them the money right?

AS for Shoosmiths and Cabot, no, never received a statement off them. WE did prior to the Charging Order, they sent us a quarterly statement to let us know what we still owed, but now we just get the Natwest one every 6 months.

Is it worth asking Natwest about it if I call them on Monday?

can I just run through a few things.

you say you were paying cabot on this OD

then NatWest? go the CO

then the house the CO was on was sold, but NW got nothing.

then cabot resumed collection

are you also saying your wife through restons is paying on the same OD debt?

now all you get are statements from NW?

do they show you & your wifes payments against the OD on them?

dx

I was paying Cabot on the debt,

It was decided I wasn't paying enough because of the level of the debt.

It went to court,

a Charging Order was placed on the house,

the charging order was for Natwest,

and any payments made in the interim were made directly to them, not Cabot.

The house was sold,

Natwest received no money (as there was nothing left after paying the mortgage,

in fact we were left owing the mortgage company),

a few months later Cabot got back in touch wanting to restart the claim.

MY wife has her own OD account, sorry, I confused things adding that.

She had her own Loan debt, and also had a Charging Order.

Same thing as me, but with Shoosmiths being the ones claiming payments.

I simply used her as an example, because her statements show payments she made to Shoosmiths lessening her debt on her Natwest statements,

and because we've both followed the same path just with different collection companies

WE get statements from Natwest, my wifes shows the payments she makes. Mine used to, but my last two have shown nothing

your debt..

cabot wanting to restart the 'claim'

I suspect that had bugger all to do with the now defunct CO.

you are being had.

mrs debt...

were shoesmifs the sols for NatWest the claimant ?

I'd be guessing these charging orders / CCJ's are more than 6yrs old now too?

something smells here

Shoosmiths were the solicitors for Natwest on my wifes account, yes.

The Charging Order was put in place in 2011. House sold in 2012.

The debt collection process, prior to the CO started in late 2009.

well it looks like the wives one is ok, and being dealt with and reported correctly

I have my doubts on your one mind.

were cabot anything to do with your CCJ/CO, I bet not.

you could ask them where the payments are actually going?

as it appears not be 'off the debt' to NatWest?

or am ireading that wrong.

if the payments to cabot on your debt are showing on your NW statements then all again appears well

though I find it very strange they are both accepting £2PCM on what must be a very large debt?

dx

Both debts total £10,000 each so yeah both are pretty large.

£2 PCM was accepted because we have nothing of value,

we can't sell anything to make the money an due to being long term illness and unemployed we've not got a load of cash to give to give them, especially with the other bills we have some of which are smaller but a lot more important.

They've both been pretty great about it, although

if Cabot have no rights to collect, I suppose they would accept anything.

I'll be contacting RBS about the redress of PPI on Monday and seeing where they are sending it.

To make sure they're sending me my 8% (out of interest, if they do offset the whole thing, with my 8%, how do I go about claiming the 8% back?)

When I contact them, I will ask who they have advised to collect on my account and find out why the debt has not been reduced at all by the payments to Cabot.

sure good idea

the info regarding the 8 stuff is on the FOS website and will be well known by RBS.

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

dx

I was given a redress last week, and this morning I called to find out how I was being paid.

I expected it would all go to my account, which is still open, and it has. But this includes the 8% interest which I was told would be mine regardless, as it is compensation for loss of use of money and in no way associated with a payment to them.

However, when I mentioned this and stated that the financial-ombudsman site stated that the 8% could not be offset I was told that they DO have the right to offset everything, and if I wish to take the matter further it will need to go to the head of collections/PPI department

I'm planning to call them later today, but could do with knowing the best thing to say in order to get them to give me the 8% I am owed. I get easily flustered on the phone due to anxiety, and if I had some help, I feel I'd have a much better chance of success.

Thanks!

Which bank? Do it in writing!

It's Natwest.

I would do it in writing, but I'm still not sure what is best to say. For all the help I have gotten saying I'm entitled to the 8%, i've not found anything on the ombudsman site that in plain english states "The 8% can not be offset" so would not be sure which parts to quote, it's all got me a little flustered really due to there being so much to read, about so many tiny variances in situations.

It is my understanding that they cannot use the 8% compensation toward any debt.

old and new threads merged for history

dx

Ok

I have been passed pillar to post by RBS, and

it turns out I have been informed wrong.

You are NOT entitled to the 8% any more,

and this has been the case since April of this year.

RBS went for legal advice, and

went through courts and

have had it ruled in their favour that the 8% can be offset,

under the judgement that whilst it is compensation for loss of use of my money,

had I still had my money and not paid PPI,

then I would have used that to pay off the loan and avoid arrears.

So yeah, no payment

This is very annoying, because they redressed my loan late last year and told me I was due nothing.

They then did this second redress due to them doing it wrong last year a

nd working it out as if my loan had no PPI.

Had they done it right first time, I'd have had a payout.

Worse than that, if their PPI system was good...

I'd have had no extra debt anyway on that account.

But the way the PPI worked was, I had to pay on the 18th for my loan, they would pay me back on the 1st.

But with so many bills around and so little money, I never had the money for that first payment,

so they late charged me over and over again and I was always playing catch up.

Despite them telling me that PPI (which they said I had to have) was no hassle,

and that all payments would be taken care of automatically on the correct date.

The whole thing, start to finish, has just been lies and terrible service.

I may still owe them a debt, but thank god I'm not with them anymore. Useless company.

erm.. we have no knowledge at all of this 'judgement'

can we have the details please

yu also need to bear-in-mind the PENALTY charges are unlawful too

and can be reclaimed.

"erm.. we have no knowledge at all of this 'judgement'"

Important issue here that needs clarification

Intend

Was this ever clarified because this is exactly the situation I am having now. Thanks.