Natwest / CMS Debt

[chrisd09]

Hi Gez,

Many thanks for replying.

 

I'll read that link on my dinner (and possibly tonight if it's a big read).

 

If I could get this default taken off my file then I would happily pay the full balance that's owing just to shift it but obviously I don't want to write to natwest and tell them this just in case it wasn't put on my account fairly.

That and it's only half my fault that it was put on there in the first place with the remainder of the blame split between natwest and eurodebt.

 

They seriously damaged my credit file and because I instructed the banks that they're to deal with the debt company It all got out of hand and i took it back on myself and ended up sorting it out. Most of the debts I had paid off with only this one and an overdraft outstanding.

The only reason this is outstanding is because i thought i was paying it off but to date this year they've registered 9 missed payments against me even though it's took 5 years to get a statement from them.

 

I'd be happy to do/pay any reasonable amount to remove that default.

 

Hopefully someone can give me advice once I've posted the statement on if this is achievable and how to do it.

 

Thanks again for your reply.

 

Chris

[chrisd09]

Hi Everyone,

 

Here's my statement that they recently sent me.

The first of which i've received in many years and the first contact or this account in some time as well.

 

See what you think.

 

http://www.day-zign.com/NatwestStatement.pdf

 

Chris

[gezwee]

Hi Chris

 

Do you have record of all payments?

 

Need to know exactly how much you've repaid and at what point they've applied A.E.R.

 

Looks like at the end of 3 year term its sat dormant until September last year when 17.91% AER was applied......god knows what this equates in APR terms.

 

Should be looking good for you to recover PPI as a minimum and knock this balance in half pretty quickly. This is of course if you want to go for the soft option, if you want to dispute the lot it'll take more work on your side.

 

Will need to PM a couple of others more in the know to help sort you out once you have all details to hand.

 

As an indication the multiplier for daily rate interest at 19.5% APR equates to 0.00053...ie 2210 days since you entered (alleged) agreement, mis sold premium of £344.00 x 0.00053x 2210 = £402.93 interest

 

Add this to initial premium £746.93

 

I'm sure you can add simple interest at 8% as well but need to check

 

Let me know when you have all the figures to hand and I'll ask a couple of others to look in.

 

Gez

[chrisd09]

That's where the problem lies. Finding out what i've paid.

 

When Eurodebt came in to supposedly "help" me out they advise me to change accounts, hand all the account details to them and ignore any bank calls, forward any letters on and just let them deal with it.

I know I definitely paid 6 months worth at £84 a month and then to my knowledge I was paying off an overdraft and the loan combined to natwest for the last 5 years at £35 a month.

 

It was only when i recently got my credit report that i searched online, found this forum, asked for all my statements using the letter templates etc and then was told the account i was paying into was my overdraft and not my loan.

 

Hence the reason for doing the subject access on them.

I asked for the contract for the account i thought was my loan but it turns out it wasn't that but instead my overdraft.

 

In the meantime I decided to try and buy a house and move out of privately rented accomodation and move in with my parents. I tried for a mortgage, got turned down because of a default i didn't know about on the account i thouht i'd been paying and been stuck here ever since. All the papers i kept are in storage but I asked the bank for duplicates which they haven't sent.

 

Complicated and very annoying stuff at the moment.

 

I'm still waiting for a full set of statements from natwest on what's been paid, what interest has been put on and the letters they sent me on the default, payments, etc etc but nothing has come through as of yet.

 

All I can do is have guess which I think is pretty much 90% correct. I may have paid more off but I know i've definitely done 6 months. Possibly a year but don't want to say for sure.

 

Sorry I can't be more specific.

 

Chris

[chrisd09]

Also, if I can get this default removed i'd happily pay half of the debt, if not all of it so that I can go about trying to sort out a house.

 

The defaults the main problem. I'd love for it to be wiped out and I don't mind fighting it. I just don't want to fight it and end up with the default still sat on my account (although it does come off in a years time anyway).

 

Living with parents is driving me a little insane.

 

Chris

[gezwee]

Haha, must be what my kids think of me ......in their 20's and they still get nagged to tidy their rooms

 

Unfortunately you are responsible for Eurodebt and what they did or did not do - if there is/was an issue with them its your responsibilty to resolve.

 

Right, back to square 1 then, did have my suspicions when I saw OD in the last column. This would indicate its the overdraft statement they've provided and Natwest never stop applying interest to these (posstots that they are)

 

You'll have to give it the 40 days for compliance to DSAR, if they don't comply send the LBA (you should be able to find the template on here but shout if you get stuck). If still no compliance proceed to litigation, no point making threats if you're not prepared to carry them out and all perfectly lawful and correct.

 

Thats about it at the mo, you need to access to all history on loan and o/d accounts to see exactly where you stand.

 

Its a slow process but don't get disheartened.

 

Aaaaaaand, renting is far better than mortgaging your life away. What can a creditor secure against if you have no property?

 

If I could get the wife to agree to sell up pay every bugger off and move into rented we'd be sitting on 300k. Think she must love the arguments with the DCA's.

 

Gez

[chrisd09]

I do have to admit that one plus of living at home is the money you save and with there not being many people in the house I shouldn't coplain too much.

 

Apologies for confusing the accounts. I keep doing this. It gets confusing who's responded, who hasn't and what to do next.

 

The contract I posts is for the loan account. Is there anything I can start doing withnthismor should I wait for everything to come through from the banks.

 

What would be the chances of removing the default ifnimpaid the full balance off?

 

Moneys annoying. When I was a student I didn't care about debt. That's soon caught up with me and I'm now wishing I struggled through UNO instead of lending.

 

Chris

[gezwee]

Hi Chris

 

You could start on recovering PPI on the loan account but I'd be inclined to wait and look at the overall picture.

 

Whats the worst that can happen? Service the accounts with maybe 2 more payments whilst you wait for the records.

 

You may find that there are charges on the o/d as its the service account for the loan.

 

As for the default markers, best to be sure of your position first. Calculate all unfair charges + PPI + Interest; either request refund/credit or offer F&F based on corrected balance value and on the basis that marked as settled in full, markers removed etc.

 

Patience is a virtue (think thats how it goes), sit tight and let the 40 days run. Another few weeks is nothing in the big scheme of things.

 

Others on here would possibly not go for the 'soft' option but my own experience tells me to investigate all avenues for resolution at minimal cost.

 

Gez

[chrisd09]

Hi Everyone,

 

I'm just wondering if anyone can comment on the contract for the loan I posted up a few weeks ago?

 

I received all the documentation from Natwest today which consisted of a covering letter, 1 page of logged events and then a 3rd page of what the information relates too.

 

On the list of logged events there is no mention of the default. It just states when it was opened, when i changed my address, when it was sent to the debt company and that's pretty much it.

 

I want to try my best to get this default removed asap so would like to first try by using the contract if it's not valid and then try the other information if this isn't possible. One being that they haven't provided statements or been in contact with me for many years and the second being that i'm 99% sure they never notified me about the default.

I'm hoping that the lack of information sent in the post (actual letters, statements etc) from natwest shows they no longer have this on file and i can get this account closed and cleared up once and for all.

 

Thanks in advance.

 

Chris