Natwest and Tenon Recovery

[bananas21]

Hello all,

Im new here and im hoping I have posted this in the right place.

 

I have a defaulted unsecured personal loan with natwest and a defaulted overdraft, I closed my account and moved all my payments etc to another bank. My loan was passed to Tenon Recovery to whom I pay £100 a month and have been doing so for about a year now. The Balance for the loan as shown on my credit file is approx £25000. Obviously paying this at a rate of £100 a month is going to take a very long time. I have spoken to Tenon and they say that Natwest would accept a lump sum of about £8000 to settle the debt. I don't have that kind of money available and cannot get further credit due to the defaults on my credit file. Can anyone advise me a way out of this or do I keep paying for ever and a day?

Thanks

[harrassed senior]

As far as the unsecured loan is concerned you could try the CCA route to see if there is any actual enforceable agreements, when did you take this out?

 

The overdraft is not covered by this though.

[DonkeyB]

Was the original loan over £25k? If so, it may not be covered by the CCA.

[Tingy]

What documentation have you got from Tenon. Have they sent you the assignment? Do they or Nat West actually own the debt? Have you asked for charges and interest to be frozen? If you could give a fuller picture, it would be easier to offer advice.

[bananas21]

Thank you for the speedy replies, it appears I need to provide quite a lot of further info. I will get onto this tomorrow and post all the relevant information.

Thanks