A couple of years back i was in a mess financially. countless pay day loans etc, there got to a stage where even the pay day loans wouldnt lend to me as i assume my credit score was too bad.

Now i hadnt been able to get an overdraft or anything for years, natwest suddenly offered out of the blue a 2500 pound overdraft, i obviously took it and then managed to top it up up to about 3700 over about a year.

I was on the edge of my overdraft each month and i was paying around 150-200 pounds each month to keep myself below the overdraft limit each time i got paid.

in the end i assume they had had enough and told me they were taking away the overdraft and i had to pay them immediately. i obviously couldnt afford to do that.

I thought i'd chance my arm at an irresponsible lending claim but they flat out refused.

Is it worth taking to the financial ombudsman do we think?

thanks for your help

Tell me more about all these PDLs you had. I saw the one about Square Today - I do not know what to suggest on that one...

As for the FOS - Go for it - It is free to do so...

Do it differently though - Go down the Hardship route and include elements of IRL

I'd say that it's irresponsible borrowing on your part.

Nobody seems responsible for their own actions these days.

I'd say that it's irresponsible borrowing on your part.

 

Nobody seems responsible for their own actions these days.

Agree but Natwest have more access to info about transactions etc and so can make a more defined decision about who to lend to... If they have maxed out someones overdraft after they had already hit the limit then that should have been the end of it and no further lending should have taken place.

It is on the onus of the Lender to do stringent checks and verify affordability.

Natwest could do so very easily. Its very difficult for someone to get their expenditure wrong etc when the person who is lending is the bank that you bank with

So anyway Be nice to the OP and be constructive - not restrictive

yes go after NatWest

IMHO a good case there

Think I had 6 in pay day loan defaults at the time I got the overdraft.

I’ve never gone to the ombudsman before exactly what should I send them?

Did you read our guide?

https://www.consumeractiongroup.co.uk/forum/attachment.php?attachmentid=70679

Nope where can I view that.

In regards to the square today thing I just don’t know where to turn I logged a complaint with credit expert thy said they have contacted the lender. But there not going to get a response if they’re shut down

If they dont get a response then you can ask that they remove it

And they should comply...

Link is in my signature and also in post #7

Lovely thanks

Probably best to just keep this thread dealing exclusively with the NW overdraft Problem ...overdrafts can be recalled at anytime as per the terms and conditions of the offered facility...without reason.

I doubt you will get anywhere with the FOS/irresponsible lending.

Have you made alternative banking arrangements away from the RBS group ?

Andy

Getting mixed signals some saying do it others saying not do it.

Yes this was a couple of years ago I bank elsewhere now

Getting mixed signals some saying do it others saying not do it.

 

Yes this was a couple of years ago I bank elsewhere now

Andyorch is right - They are able to call it in under T&Cs however there is a slight caveat to that in that they shouldn't be allowed to extend your OD if you already have gone over a certain amount in debit over a defined period.

I reclaimed for Lloyds but i went the Hardship route and it took 3 years to get a result with numerous head buttings... All i would say is that it is free to raise a complaint but make your complaint worth it as if you supply the evidence then the FOS usually rules in favour of the complainant

Getting mixed signals some saying do it others saying not do it.

 

Yes this was a couple of years ago I bank elsewhere now

Good stuff......so what has happened with this overdraft in the meantime ?

Good stuff......so what has happened with this overdraft in the meantime ?

The overdraft is closed the account is closed it’s just a debt on my credit file now

whats its defaulted date?

The overdraft is closed the account is closed it’s just a debt on my credit file now

Okay...and is it still with Rats Nest ? or assigned to a DCA ?

Andy

default date is 31/12/2015 and its with a debt collector

ombudsman said there was no wrong doing in this, just thought id update. i dont think ive ever had anyone chase me for this debt since it was defaulted. natwest dont update the account anymore on my credit file but the default is obviously there. just curious who do they normally sell these debts to. just wondering if ill ever be chased for it.

Which DCA is dealing ?

Well yeh that’s what I’m asking. I’m 90 percent sure I haven’t had any dcas Chase me for this for a couple of years if at all. Just wondering out of curiosity who it might be sat with

ans post 17/20...……..

sorry mate but i dont think it is. i'm looking to find out who natwest sell their debts on to. i don't know which debt collector they have sold mine on to

default date is 31/12/2015 and its with a debt collector

The overdraft is closed the account is closed it’s just a debt on my credit file now

So whose name is against it on your Credit file ? NW may not have sold the debt...they normally instruct the likes of Wetcloths to chase but dont assign it to them.

Andy

no harm in ringing NW and asking??

there is no 'set' dca they sell too

only whomever the fleecer is that buys the debt portfolio you are in.