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RGorman

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  1. I have an account that I'm in the process of closing with Natwest. This is an interest free student account which was within its limit when I began repayment almost 18 months ago. Last month, I requested a statement to find that I was now about £400 worse off that I was when I began repaying the money. I asked for this interest to be stopped as it was sending me into a rediculous ammount of debt and that it was extortunate due to the fact that the interest was being applied at twice the ammount of the money that I was paying off per month. There was no mention of any application of interest to this in the repayment agreement letter between myself and Natwest. When I asked them to stop the application of interest, they did. They state that this interest was lawfully applied under all applicable laws and legislation, but when I phoned Natwest the other day and asked to speek to their legal department (which didn't exist) to clarify what this law is that allows Natwest to deduct interest at twice the rate of the ammount that I'm paying into the account without informing me and not sending me any statements. Can anyone help?
  2. I closed two accounts with NatWest 18 months ago as I was moving banks and Natwest sent me two letters of default outlining the ammount I owed on my overdraft (they charged me £30 each for two letters, but posted them in the same envelope...) I was told to come up with a repayment plan within 28 days or my details will be passed onto a Credit Reference Agency. I agreed within the 28 day limit to repay them at the rate of £11 per month (I'm a full time NHS student and my income is very limited). A month ago I had cause to undergo a credit reference check and was declined due to information that was held by an agency called Experian. I made enquiries with Natwest to see if they were responsible for passing on my details. I phoned their Credit Management Service in Telford and I was told that it was Natwest who had passed on my credit details although I had not been informed of this at all. The person I spoke to told me that I was a day late in agreeing a repayment and subsiquently the details were passed onto Experian. He also said that "..This was probably not best customer service practiced on behalf of Natwest and I'll apply to have the information removed. It should take about a week..." Two weeks later, I had heared nothing. I re-contacted The Credit Management Service and I was told that my name was on the list to be removed from the register and it should be done within 48 hours. One week later I phoned the Credit Management Service again as I had still heared nothing. I was told that I made two late payments (last one being in April this year) to my account and as a result my details were right to be passed onto Experian and Natwest was not going to remove them. They have not informed me of this at all and subsiquently Im left with the issues relating to this for the next 6 years. Has anyone any advice as for what to do next? Can the Financial Ombudsman Service help out here?
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