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nscales

Natwest have sold my loan for no apparent reason!

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Hi,

I took out a three year loan with Natwest in Feb 2008, and have made monthly payments by direct debit without missing any. For the past two months Natwest have stoppped taking the direct debit payment for this loan (there has always been a balance in the acount to cover the direct debit).

 

I contacted Natwest today to see why they have stopped taking payments and was informed that my loan has been sold onto a third party (Allied International, which a quick google search tells me are rather nasty and notorious) and they no longer have any notes on my account. Natwest advised me to contact Allied International to obtain more information, which I have refused to do stating that Natwest have not sent me a default notice, termination letter or a notice of assignment so as far as I am concerned they still own my debt. Natwest are apparently now 'investigating' (although considering they 'apparently' have no notes on my account this may prove rather difficult for them) and I should hear back from them within 2 days.

 

What I am confused about is that there is no reason for them to have sold my debt on to a third party as I had not defaulted on the payments. Has anyone else had this kind of problem with Natwest?

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