Jump to content


natwest "waiver"


jamraz
 Share

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4970 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

i started complaining about charges in dec 2006, when natwest started getting even greedier than normal with their charges, in one week they took £300+ in charges on a thursday, for d/d and s/o even though i was weekly paid, and they knew that my payments were every friday.

as such i missed a loan repayment, got charged again, and was left in a situation of having to spend my money before they could take it as the acumilated effect of the £300 of charges in one week took some time to recover.

i tried to dispute that thiswasnt fair, and that they were taking the proverbial..., and decided that the best option was to cancel the ppi policy on the loan to help cut back my expendature....easy??????...not.

"apparently" once a loan is set up,the only way to cancel the ppi is to take a new loan, which in turn cancels the policy, leading to a refund of the ppi......natwest then messed up this refinancing, which i was supposably supposed to be so greatfull for as it was going to cover the chareges as well, just to set me straight.......and it took from january to june to get the loan up and running, even though they admittd it was at there fault, whilst this was happening they threatend default and bailif action.

In feb my employer became bankrupt, and so i looked into an iva, however, as i got staright on my feet i was advised that i was clearing too much income, and there wasnt much that the iva company could do to help, but they advised me upon how to reclaim the chharges.

i sent the initial letter, demanded statements, and request prompt payment of the charges (THIS WAS AT THE END OF FEB 2007).

the bank then inappropriately packaged the statements so i ended up with half of them, the other half are somewhere within royal mails conveyor belt, and as such it delayed the formal request stating actual charges and the date they were debited until april. in the meantime i had made several calls and tried to deal with the charges by phone.

in april the bank acknowledged the complaint, but said that once i had sorted the loan (that they kept failing to administer properly) they would promptly refund me. i as then harrased by their loan departments customer service manager, who actually gave me her word that as soon as the loan was up and running i would be credited the £6000+ charges.

so, nievely, i signed on the line, went along with the loan, and tried to do the right thing.

i then persued the refund only to find that th "efficient" call centre environment ran by natwest ere unable to put me back into contact with the individual, and as she hadnt recorded the promise to refund, i had to wait for somebody to look into it.

several calls and letters later i get some correspondance telling me that the fsa had granted a waiver, and that i could go whistle for my refund.

as such, i have pleeded poverty, told them that i cant afford the loan, and am now being persued by a collections agency.

SHOULD I HAVE RECIEVED THE REFUND, AS THEY HAVE FAILED TO DEAL WITH THE COMPLAINT IN THE SET TIME, AND MISREPRESENTED MY NEEDS WITH THE NEW LOAN AS SUCH??

any help will be glady recieved, they have now put seven years interest on the loan which is 6 months old, and are trying to recieve £20,000 for a 14000 loan, 6500 of which should have been refunded (therefore i actually owe 7500, yet have the collection agency chasing 20,000+):x :x :x i now feel that the only option is for bankruptcy, and it seems crazy that they have forced me into this

Link to post
Share on other sites

Hi jamraz and welcome to CAG.

 

Sorry not to get to you sooner. UNfortunately, no one is getting charges repaid (at least on personal current accounts) because of the test case.

 

Even if you started a court case now it would be stayed until some time after the test case. The case ended at the end of last week and all stays were supposed to be lifted. However, the judge has suggested that stays remain in place until his judgement, which will be a few months yet. Even then, there is expected to be an apeal.

 

One thing you can do to hold NatWest et al up a bit is to write to the DCA and ask for "a copy of the executed agreement for the loan under s77(1) of the Consumer Credit Act 1974"

 

They have 12 days to reply but will have to ge the doceuments from NatWest. Hopefully you will be able to put the account into dispute for a while and at least get a bit of breathing space and time to think about your next move.

 

Finally, take advice from CAB or DebtHelpLine before going down the bancrupcy route.

 

Keep us informed what is happening.

Steven

 

Using CAG Toolbar will generate much needed income - Download Here

 

Confused by Simple Interest? Confounded by Compound Interest? Read my Interest Tutorial

My Wins

 GE Money Won unconditionally May 2007

NatWest Won unconditionally August 2007

Brighthouse Won unconditionally August 2007

Goldfish Won unconditionally April 2008 (including CI on the basis of Sempra)

Clydesdale Financial Services (now BPF) Won unconditionally February 2008

 

Any opinions are without prejudice & without liability. Do not take any legal action on my advice alone. Almost everything I know concerning the law I learned from this site.

 

Please note, I will not give advice by PM. Please send a link to your thread and I will do my best to answer there.

 

Link to post
Share on other sites

many thanks,

i contacted the collections agency, told them i wanted the executed agreement and thought it would be a good idea to also ask for a detailed breakdown of how they have amounted to the figures being chased.

they had no idea what i was on about, went away to talkto somebody and suggested that it would take 28 days. i am going to confirm this by post just to tie things up properly.

how does the interest work? can they add the full duration into a loan that has collapsed after such a short time? to me this seems like a bad deal, if i am suddenly required to settle immediately, then surely the interest should be pro-rata?

Link to post
Share on other sites

THinking about this, I think I have slightly mis-advised you. As this is a loan we are talking about, the OFT case is not relevant. The new loan you took out was to cover the old loan + charges - therefore you could put the account into dispute by saying you don't agree with the balance. The interest question just adds to that.

 

I would send a request as I suggested in post #2 but start by saying you are disputing the amount they are asking for. Head the letter "Account in Dispute" in big letters

Steven

 

Using CAG Toolbar will generate much needed income - Download Here

 

Confused by Simple Interest? Confounded by Compound Interest? Read my Interest Tutorial

My Wins

 GE Money Won unconditionally May 2007

NatWest Won unconditionally August 2007

Brighthouse Won unconditionally August 2007

Goldfish Won unconditionally April 2008 (including CI on the basis of Sempra)

Clydesdale Financial Services (now BPF) Won unconditionally February 2008

 

Any opinions are without prejudice & without liability. Do not take any legal action on my advice alone. Almost everything I know concerning the law I learned from this site.

 

Please note, I will not give advice by PM. Please send a link to your thread and I will do my best to answer there.

 

Link to post
Share on other sites

thanks again,

not sure how to go there, the charges are bank charges, butoriginated from the loan, so a bit of both i guess....i will change the letter and copy in the bank.thanks, again

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...