Natwest lying about promises made...

[Lou89]

Sorry for the following essay but I wonder if you could shed any light on how we should proceed:

 

After numerous letters between me and an assistant in the Birmingham centre, we were told in July 2009 on the good authority of a manager that the alleged loan account would be written off.

 

We were told that we would be unable to close our joint current account over the phone due to an outstanding balance on the overdraft and therefore went into the branch to pay of the overdraft and close the account. Before doing so, the assistant advised us that he would have to check that the alleged loan is definitely being written off before he was able to close the account as you are unable to close a bank account that has a loan linked to it.

 

The account was then closed, again providing us with an understanding that the alleged loan would be written off.

 

After discovering in April 2010 that the alleged loan was still appearing on my credit file with 6 months arrears showing, I contacted the Natwest to attempt to resolve this issue. After 12 phone calls all referring me to a different department I finally spoke to an assistant on Monday who stated that she could not provide a reason why the loan has not already been written off but could confirm that the account was put on hold from 16th February 2010 and that if they could not provide the original loan agreement within six months (i.e. by 16th August 2010) the loan would be written off.

 

I have since been informed by another assistant that there were no plans to write off the loan account and that infact this will not be happening in the future. I do not understand how they can agree to write it off and then since change their mind and deny all knowledge of ever agreeing to write it off in the first place.

 

My understanding is as follows:

 

Section 174 of the Consumer Credit Act requires that the lender do not share data without the written consent of the debtor and without a signed agreement they have no authority to report to any third party including the credit reference agencies.

 

Under the Data Protection Act all documentation must be kept for a 6 year period and I find it difficult to believe that they could mislay such an important document as the copy of a credit agreement.

 

 

For the avoidance of doubt, I do not possess a credit agreement for this account, and since it is several years ago I have no recollection of the content of any agreement signed, or indeed of ever signing an agreement.

 

Any help and advice would be greatly appreciated!

[Lou89]

46 views and no comments... Surely someone must have an idea of how we can proceed?

[Lou89]

156 views and not one reply you can forget it if you think I will donate now when the website can't be bothered to help me in the slightest!

[paulwlton]

156 views and not one reply you can forget it if you think I will donate now when the website can't be bothered to help me in the slightest!

 

I wouldn't say viewing members "can't be bothered" but possibly they lack the knowledge to respond.

 

It seems RBS are continuing to process your data which is obvious because you took out a loan.

 

If RBS didn't state in writing that the loan would be written off you will have difficulty proving this.

 

On the plus side if there's no signed enforceable agreement they will have difficulty enforcing through the courts.

 

PW

[Lou89]

Thank you for your response but I do feel out of the 160 views there must be at least one person who could give some advice!

 

I will continue to chase them for a satisfactory answer and if I do not get the responce I want may offer a 10% full and final settlement, do you think this would be reasonable?

[paulwlton]

Thank you for your response but I do feel out of the 160 views there must be at least one person who could give some advice!

 

I will continue to chase them for a satisfactory answer and if I do not get the responce I want may offer a 10% full and final settlement, do you think this would be reasonable?

 

I'd include the scrubbing of any adverse data on your credit file for 10% of the debt.

[Lou89]

Lovely I will try that tomorrow, thank you !

[spark911]

I doubt they'll accept 10% and agree to remove the credit rating. If you are paying them 10% they'd argue you are acknolwedging the debt and as such they have a duty/right to remove to CRA's about the default.

 

Have you pointed out your argument under s.174? Also, you are able to contact the CRA's yourself and they will contact RBS for an answer.

 

Perhaps try this stuff first. Also, just because it's "written off" doesn't mean it'll go away or that they'll not continue to report a default as I believe they can do that without the loan agreement if they can show at least you've had the use of funds and not repaid them.

 

However, maybe write to them outlining your point under section 174 of the Consumer Credit Act as it'll be interesting to see their response to it.

[Lou89]

If I recall correctly s.174 is about them not being able to report to CRAs without permission. If this is the case, we had written to them stating this on numerous occasions but they always respond saying that although there is no agreement, they believe the debt exists and therefore will continue to report to the CRAs!