natwest 2 v firstship

[firstship]

Hi IainHL. some good way to go(years) until zero balance due to substantially reduced payments,as and when this happens following your drift I will stop paying them,and sit it out until SB applies however ,that assumes I am still alive.and yes they are moving payments internally, crafty method of stopping SB.

 

The letter comes from Birmingham with a reference I have not seen before but not ARCH,.......why????

 

Spoke to CCCS they will send I&E,but the rest of the above,they will only take the moral approach,which I expected.

 

I will write to my creditors that payments to each will be reduced to £1 per month (have to leave CCCS to do this) due to financial circumstances and see if I can get the balances written off.

 

Thanks for your response FS

[firstship]

Slick Hi

 

 

had a response from Natwest Loan Account,

 

 

this is and account where they have admitted in writing that they cannot find the contract,

 

 

but they applied a payment in March 2009 and have not defaulted the account.

 

The payment was the amount I pay towards my old bank account with them and they re-directed it to the loan account on this one occasion,

 

 

as I read it in March 2015 this will become statute barred?

 

 

as no other payments have been re-directed to this loan account

 

bloody mess

 

FS

[firstship]

Have reached the stage where the loan element which is a separate account, of the debt has become SB,and there have been no payments credited to this account for 6 years,this is also the account that Natwest have put in writing they cannot produce an agreement to cover this account,it is pre April 2007.

What would be the best action to take? bearing in mind I have a Current account with them under a different account number,that I pay a small amount to each month and is interest free

 

FS

[Northernpug]

It becomes statute barred 6 years after the last a payment OR acknowlegement of the debt. I see you made a complaint in Feb 2011 which could be construed as acknowledging the debt so it may not be statute barred yet. That aside, even if it is statute barred it just means they can't enfore it in court but the debt will still exist so I can't see how it would affect your position at present.

[firstship]

Thanks for your reply,it is possible that my complaint Feb 2011 could be regarded as an acknowledgement of the debt,however as I have it clearly in writing from Natwest that they cannot produce an agreement for the account,I am not to concerned,so I will just leaves things alone.

 

FS

[firstship]

with Natwest

 

 

I have 2 accounts

one a loan account

the other a current account,

 

 

I pay a small amount through a Free Debt Management Company .

 

 

Natwest Recoveries have lumped the 2 accounts together,

but still send separate statements once a year,

they only deduct my payments from the current account,

therefore the loan account amount has stayed the same for 7 years,

 

 

I have not contacted them for 6 years regarding the Loan Account.

suddenly the loan account amount has appeared on a CRA.

 

 

I asked Natwest why?,

their reply was it is part of a debt,

to which my reply was I have not paid 1p into the account and it is statute barred,

 

 

they reply NO they have joined the 2 debts together, as that is what they always do.

 

 

CAN THEY DO THIS,

I did not at this point mention the fact that they cannot produce an agreement for the loan account.

 

Sorry if I have been down this road in the past,

 

 

just trying to get up to date with the law/legislation

 

FS

[firstship]

Quick question,

 

 

can my bank put 2 accounts (loan account and current account) under one number for collection purposes

but still send separate yearly statements??

 

thanks

 

FS

[tedney]

Hello firstship

 

I am not an expert, but if NW have three accounts,

all seperately numbered for you,

then they will need three agreements signed by you.

 

In my experience,

I never got current account statements,

unless I issued an SAR,

only ever get annual loan statements.

 

 

All payments I controlled into two separate accounts,

 

 

so NW did not have opportunity to "create" a thrid account.

IHTH

t

[firstship]

thanks for your reply,

 

 

going to pursue this as I do not think they are allowed to do this

as in the loan account case they do not have an agreement copy that they can produce

 

FS

[AndyOrch]

Which account are the " Free debt management Company " specifically paying to ? Loan or Current Account overdraft?

[firstship]

Andy Hi,they Natwest only quote the current account number,there is no mention of the loan account anywhere,and then each year I get a statement for the Loan account,and the amount has remained the same for over 7 years.However Natwest state it is part of a debt and they Natwest Recovery always add all debts together,and will not accept that the loan account is Statute Barred.

 

thanks

FS

[AndyOrch]

" but still send separate statements once a year,"

 

Obviously under each account number...you need to confirm with your DMP that payment must be only made to the current account number......let Nastyvest do what they wish ...you keep your own accounting system and when the balance of the CA is clear or you have made enough payments to cover that debt... stop payments.

[firstship]

Andy thanks for your reply I will instruct the DMP to ensure they only pay that (current account) number,and as you suggest when the day arrives I will stop paying Natwest anything

 

Regards

 

FS

[AndyOrch]

I would do a quick reccie and see how much you have already paid against the balance of the overdraft so you know exactly how much and long to pay for.

[firstship]

Andy.. Will do,makes sense to be prepared,have already checked to ensure Natwest have never quoted the loan account number to the Debt Management Company,and the answer is never

 

thanks for your help

 

FS

[firstship]

Would like to ask the 3 questions reference CRAs

 

(1) Statute Barred = 6 years of NO payments,NO acknowledgement of debt,Creditor cannot apply for a CCJ.and CRA/Creditor not allowed to register the debt,although the debt still exists you do not have to pay anything.

 

(2) a Debt that you are still paying back with an amount outstanding,after 6 years CRA/Creditor not allowed to register the debt.

 

(3)a Debt that you are still paying and the Creditor states NO DEFAULT ever registered,still not able to register on CRA after 6 years

 

Can the experts just clarify that these statements are correct

 

FS

[ericsbrother]

for 1, the debt still exists but nothing can be doen to enforce it.

 

 

Some companies are now delaying issuings a default notice to extend the period the debt appears on your credit file but if 6 year have past then they are too late to do that without getting into bother.

 

2/ if the debt shows the correct dat the it can be added late but again, not after 6 years as that is unfair processing of the data.

 

3/ again, it is what is fair and after 6 years have passed it would be unfair to do so.

 

 

In all of these cases you should ask for the unfair processing of your data to cease and remove it from your credit files.

 

 

there are guidelines that the creditor has to above by if they want to continue to offer credit so they should remove any such markers or risk a complaint to the FCA

[firstship]

ericsbrother,thanks for your answers,'unfair processing of data",covers the problem I have with one of the banks,will proceed down this route

 

FS

[ericsbrother]

some are doing this on purpose as they know that if they default at the correct date it drops off the credit report but by deliberately delaying issuing a defaultt hey can try and stretch the whole thing out to 11 years and a bit.

 

 

The CRA's could refuse to put up with this abuse but they know who pays them.

[fletch70]

You need to be aware that there is nothing stopping a claimant issuing a claim even for a debt that is SB. If they do then SB is an absolute defence

 

The reason they may well issue a claim is the vast majority are never defended.

 

It is all a bit technical, once defaulted a new default can not be entered so once the first one has 'fallen off' your credit file that is it. A lot of companies do not default the account, particularly if a payment arrangement is in place.

 

I had one that didn't register a default because 'we didn't start reporting to CRAs until xxxxx' however when challenged they admitted that the date they were going to register as the default was appropriate for when the account went into default- they do try to stretch it to the last possible minute - i think just to play games

[firstship]

can I just confirm how accurate this statement is from a bank.

 

I asked the bank to remove all details from all Credit Files as the debt in question is now 8 years old and regular payments have been made.

 

Bank reply "Our records indicate your account is still open and currently in debt hence we are unable to amend your credit file"

 

Is the bank correct or incorrect

 

thanks in advance

 

FS

[dx100uk]

it should have been defaulted after your third missed/short repayment

so its not defaulted?

should it have been?

if not then they are sadly correct

 

 

dx

[firstship]

Hi dx100uk

thanks for your reply,

 

 

it was defaulted 8 years ago,

and I agreed to pay a specific amount which they accepted through CCCS/Stepchange,

although the amount they show as a monthly payment on credit file's is the amount I was paying 4 years ago,

 

 

today I only pay £5 per month,with their agreement through Stepchange.

 

Do you feel they should still be showing the details on any credit file?

 

FS

[dx100uk]

what do you mean by it was defaulted 8yrs ago?

 

you mean there is a default registered for that date on your credit file?

or

 

or that's when the repayments through CCCS started?

[firstship]

I received a letter of Default from the bank, 8 years ago and then over the subsequent months arranged to pay the bank back through CCCS/Stepchange, DMP,.

 

4 years ago my ability to pay the original monthly agreed amount became impossible and through Stepchange agreed a much smaller payment amount which was accepted,

 

I have been paying the DMP for nearly 8 years,

and it was my understanding that even though I still have the debt and have been paying the bank back after 6 years it would drop of my Credit File??

 

FS