Jump to content


Helping a friend - guidance welcome - RBS/TESCO/NatWest loans & Cards


Let Them Knock
style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4196 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Forum virgin so please be gentle with me.

 

I am endeavouring to help-out an old friend who was left with well about £35,000 of debt when her marriage failed seven years ago. When her (ex)husband's business failed she naively took out credit cards and a loan to try to help him. Needless to say, he is long gone but the debts still remain.

 

Fortunately, I am in a position to help her with an interest free 'loan' to settle some of her debt but certainly not to the tune of £30,000+.

 

She had progressively cleared some of the debt under a DMP (set up by the CAB in 2006) and was left with four outstanding accounts, all still being paid under her DMP. One was with Cabot and the other three with NatWest:

 

I successfully negotiated with Cabot and agreed a F&F of £3,350 on a debt of £11,000 - so that was cleared. This left the three Natwest ones.

 

NatWest loan - balance £13,470 - current monthly payment of £10

NatWest credit card - balance £5,120 - current monthly payment of £22

Tesco credit card - balance £1,390 - crrent monthly payment of £8

 

(Worth mentioning, she also has a NatWest mortgage that is not in arrears).

 

I made F&F offers on these. Both credit card offers were refused. The loan offer was passed to their DCA, Moorcroft, by NatWest.

Moorcroft quoted an outstanding figure of £18,729 - almost £4,700 more than she realised she owed. It appears that, in addition to the loan, there are two further debts (£2,748.98 and £1,908.71) both relating to overdrafts.

 

Moorcroft put her account on hold on 27th July 2012 while they contacted to NatWest. NatWest have now passed the account to Fredricksons who have just made contact. They haver sent letters relating to the loan and both overdrafts. I have sent them an athorisation letter so they will now have me to deal with.

 

Although her DMP did include these debts, NatWest had only sent her a regular statement for the loan account, hence her confusion. The £10 a month she has paid has been credited to this loan account meaning that both overdrafts have not reduced at all.

So here is my first qestion - as it appears to be over 6 years since any credit was made to these two debts, are they now Statute Barred, even though her DMP included them?

 

I (she) has sent CCA request letters regarding the loan and the credit cards. Care has been taken not to mention the two overdrafts in any communication.

File requests have been sent to Call Credit, Experian and Equifax.

 

I also need some guidance on the situation with her credit cards but in the interest of not making this post any longer, I will post seperately on these.

 

Thanks for your perseverance in getting this far.

 

 

Link to post
Share on other sites

Hi Welcome to CAG,

 

Statute Barred = 6 years without any payment or unequivical acknowledgment of the debt in writting, any payment restarts the 6 year clock.

 

So the debts mention are not statute barred, they have been removed from CRA files because all defaulted accounts are removed on the 6th anniversary of the default date.

 

Theoretically if payments ceased the creditor/DCA couls start court action but it is unlikely to be allowed given the time span.

 

Is your friend getting regular accurate statements of the balances on these accounts??

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites

Hi Welcome to CAG,

 

Statute Barred = 6 years without any payment or unequivical acknowledgment of the debt in writting, any payment restarts the 6 year clock.

It is over six years since any credit has been shown on the loan accounts. The balances on both are higher than they were when the DMP began.

 

So the debts mention are not statute barred, they have been removed from CRA files because all defaulted accounts are removed on the 6th anniversary of the default date.

 

Theoretically if payments ceased the creditor/DCA couls start court action but it is unlikely to be allowed given the time span.

 

Is your friend getting regular accurate statements of the balances on these accounts??

 

No statements on the overdraft accounts for years. Loan statements arrive annually.

 

 

Link to post
Share on other sites

Dump the DMP is this a fee charging DMP if so the debt will never be cleared get your friend to pull out and manage it personally.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites

IMHO i would CCA everyone and SAR the OC's too.

 

you need to investigate reclaiming before you do any F&F's

 

the CRA files will be the key here i'm sure.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

IMHO i would CCA everyone and SAR the OC's too.

 

you need to investigate reclaiming before you do any F&F's

 

the CRA files will be the key here i'm sure.

 

 

dx

 

CAs going recorded delivery this afternoon. Thought I would wait for the responses before SARing the OC.

Just noticed your signature re Noodle - will give it a try too.

 

 

Link to post
Share on other sites

I think your friend is being stung here by the DMP if the debts are not reducing she really must find out where the money is going, who is running this DMP?

Noddle is fine as it's free but not as up to date as the other agencies imo.

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites

I think your friend is being stung here by the DMP if the debts are not reducing she really must find out where the money is going, who is running this DMP?

Noddle is fine as it's free but not as up to date as the other agencies imo.

The DMP was set-up by the Citizens Advice Bureau in 2006. She pays the creditors directly by direct debit. There are no fees involved. The debts (loan and two credit cards) are reducing but very slowly due to the small amounts she can afford to pay.

 

My plan in this is to achieve as small a F&F as I can for each debt. Obviously, anything better than that is a bonus - it will teach them not to consolidate loan after loan and pile-up the debt and charges.

 

 

Link to post
Share on other sites

if PPI or PENALTY charges wre 'rolled over'

 

you've got a very good reclaim session to do.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

it was this comment:

 

"will teach them not to consolidate loan after loan and pile-up the debt and charges."

 

if this happened [and with the PPI too - hope you DID get the correct refund]

 

then roll over [where PPI or a PENALTY charge is made - int is charged on them - if that goes over into a refinance

you get charged interest charged AGAIN]

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

Link to post
Share on other sites

 

NatWest loan - balance £13,470 - current monthly payment of £10

NatWest credit card - balance £5,120 - current monthly payment of £22

Tesco credit card - balance £1,390 - crrent monthly payment of £8

 

(Worth mentioning, she also has a NatWest mortgage that is not in arrears).

 

 

CAs going recorded delivery this afternoon. Thought I would wait for the responses before SARing the OC.

Just noticed your signature re Noodle - will give it a try too.

 

I know several years ago Tesco credit cards were run by RBS, so it would probably be possible to SAR RBS for details of the NW and Tesco accounts under one SAR, thus saving on the £10 fees (i.e. they all come under the same provider, but probably best to specifically ask for the Tesco one in case they miss it for whatever reason).

 

I don't know what effect it would have on the NW mortgage if your friend stopped paying or reduced her payments, I wouldn't have thought NW could call it in or anything like that but no doubt others will be able to advise.

 

Rob

Link to post
Share on other sites

As I have alread said, I have just sent off a CCA request letter to NatWest relating to the loan. I am keeping my head down on the two 'newly found' overdraft accounts as they may be close to becoming statute barred.

 

I intend to SAR NatWest.

Is any point in waiting until the CCA reply comes or should I just go ahead and SAR them immediately?

 

Thanks

 

 

Link to post
Share on other sites

Yes to all the NatWest accounts, the ''francised,'' Tesco card would I think need a separate SAR.

  • Confused 1

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

Please Consider making a donation to keep this site running!

Nemo Mortalium Omnibus Horis Sapit: Animo et Fide:

Link to post
Share on other sites

As previously said, the Citizens Advice Bureau were involved in this matter several years ago.

It would be very useful to have copies of letters, dates, etc. There may well be things lurking in their records that we do not know about.

 

My friend has asked them for this today by telephone and has been told there is about "two reams" of paperwork and that is too much for them to copy. They suggest that she attend their office and select the things she wants copies of. Of course, this would probably end up as a bigger task than copying it all.

 

I am still tyrying to 'negotiate' a solution but, if all else fails, is it possible (or practical) to SAR the Citizens Advice Bureau?

Thanks in advance.

 

 

Link to post
Share on other sites

You can SAR any organisation that holds ''personal'' data on you.

 

Simple as that, eh? :-)

 

Thank you for the quick response, at least it gives me an 'ultimate threat'. Hope I can get it without that though.

 

Brigadier - I must liken you to Kipling's Six Wise Serving Men - all rolled into one.

 

 

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...