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Natwest charging up to £100 per month interest since CCJ in 2007

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Hi, I had a CCJ with Natwest in mid 2007. The CCJ was for approx £15K and I was ordered to pay £10 per month by the Judge. A charger was also unsucessful.

 

I recently SAR'd Natwest for PPI and I have noticed from both my credit files and bank statements that they have been charging me up to £100 per month since the CCJ in Interest up until November 2011 when they finally stopped.

 

I was not aware they were doing this as I have NEVER received a statement since the CCJ for my current account I only receive an annual statement from shoesmiths for the loan.

 

I am furious as my current account now shows as £6.5k in arrears! this has added a whopping £3.5k onto the debt that I knew nothing about.

 

I recently just won my PPI for £3.5K which they are crediting back to the loan so I feel this was a waste of time becasue I am still in exactly the same position as I was when the CCJ was entered in 2007.

 

Is there anything I can do about this? I know judgements over £5K can still attract interest but I tohught they had to tell you and send you statements.

 

My debt will never be paid off at this rate as I only pay £10 per month as it is. I really hoped the PPI win would make the balance go down but it's not.

 

I am so angry. Even more so because they pressured me into the loan which got me in this mess in the first place, The salesman made up fake income to get it passed and made me have PPI. All this was stated in my PPI Fos Q so I wasn't suprised when they coughed up straight away without any arguments. I know it's my responsibilty and I took the debt but I am devastated to see my balance rise so drastically.

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Can I just add that the CCJ included a loan, credit card and bank account overdraft. I have not accrued any further interest on the loan or credit card since the CCJ. Interest has only been applied without my knowledgeto the current account Overdraft. I have not received statements for the current account or credit card, only anual ones for the loan. Thanks

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Anyone able to help me word a letter please? I know they have the right to add interest but I want to write and ask them why they did not inform me over the past 5 years that they were adding on such horrendous charges making my debt rise so drastically and I wasnt them to remove the interest that they have been applying - do I have a chance or a right even to request this??

 

I'm not sure if they were legally obliged to inform me or send statements either.

 

Any help will be very much appreciated

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Hello 007, Just bumping up your post. I have a similar situation, but without a CCJ. Natwest bundled a current account overdraft and separate loan onto a court claim. I have received no account statements for the current account (but have for the loan account) since claim was issued, but, according to CRA reports NW have been adding sums each month to the current account, then stopped in 2011! I have claimed and they have repaid PPI claim, some deducted from loan, and some by way of a cheque too! Hopefully someone with more knowledge will be by soon to assist you.

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hi tedney,

 

Thanks so much for replying. I have just been on the phone to my husband crying my eyes out. I've just done a spreadsheet and they have added £2940.92 since 2007 and also stopped in 2011. I've not had one statement and only found out becasue I sar'd them for PPI.

 

They also are paying me out on PPI for 2 loans. I'm pretty sure they'll pay the amount of the outstanding loan though or they said they'll pay it into my current account if the loan is paid off. That means it'll come off my debt which I don't mind but seeing as they have added all this interest it has just paid that off so I'm back to square 1.

 

I'm so upset, I'm not sure if it will help if I write to them becasue they have never informed me of the interest they were applying to the current account (they haven't added any interest to the loan part of the CCJ). I've never had the opportunity to try and stop these charges by upping payments or finding another wa to pay off the CCJ to avoid the fees. I feel robbed.

 

I'm so pleased you got some by cheque. Are you going to do anything about the interest they added without telling you?

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[ATTACH]39318[/ATTACH]

 

Heres what they charged and what my balance would have been had they not charged interest. My PPI payment from them of £3k would have almost cleared my balance :(

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One question...did the court order state that interest can still be applied to the overdraft account?

 

Might be an idea to post up exactly what the judge ordered please.

 

Are you sure the overdraft was included in the court proceeding?


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Hi, yes the current account is included it was on the POC. Current account and loan together.It only says the standard statement on the CCJ which is: If judgement is for £5000 or more or is in respect of a debt that attracts contractual or statutory interest for late payment, the claimant may be entitled to further interest.

 

Can I also add that Natwest ended up issuing 3 yes THREE CCJ's to me between mid 2007 and late 2008 for the same debt (£15k) although I never missed any payments and I had to get them removed which was stressful. They did admit that the second two were a mistake. I'm not sure I can take much more from them

 

I can post up the judgement but I need to wait 30 mins to convert file to pdf again and I'll need to block out some info but will do asap if still needed.

 

Thank you

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I've moved your thread to the Legal forum so that the more "Legal Minded" folks can have a look.

 

It might be an idea if you can post up that judgement, just so the guys can have the full picture.


If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

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I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

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Heelo Again 007coot, Looks like you are getting some help now! I am sitting tight at the moment about stirring added amounts to account. As I only can see added amounts through CRA reports, not sure what these additions are, Charges? Interest? amounts go up and down monthly, with no account movement activeted by me. Are you aware of BCOBS? NW would seem not to be complying with this is in both our cases. Also are you getting back full interest on the PPI payments? As they have had the use of your payments to make a profit with, you should be claiming back as per the templates on here. t

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Hi Tedney, thanks for helping me out earlier. I'm not familiar BCOBS but I'll research it now!

 

I used the spreadsheets from here for the PPI and had help getting all my deatails in order. Infact for 1 loan they offered quite a bit more than expected. It's complicated but I reported them to ICO in the end because they claimed they didn't have loan info etc, they soon found it and I was able to put in my claim which I won 2 weeks ago. Not sure if they will notify me as to where they actually apply my repayment though as it's for two laons one of which was cleared before I took second loan. Could be loan or current account or both.

 

I'm off now to research BCOBS :-)

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You need to read your copy of the CCJ very carefully. Firstly Natwest should have requested that contractual interest be applied when they made the claim, such a claim is only 'valid' if the original credit agreement you had with them included a clause that provided for them to do this in the event of a default. So if they made the request for contractual interest to be included in the judgement you then have to read the actual judgement itself - just because they ask doesn't mean that they will get! So they do not have the right to add interest unless the CCJ states that they will/can

 

IMHO I believe that creditors are still required to provide you with a statment of your 'account' at least every 6 months, even though there is a CCJ in place that replaces the original credit agreement. The statement should include all the transactions on the account which covers for the event of them charging interest. If they have not provided a statement then they cannot charge you interest. If they subsequently provide a statement dated 30 Nov 2012 and show on it all interest from 2007 - that is not allowed, they could only charge interest from 30 Nov 2012 ie from the date of the statement.

 

Clearly what is going on here is a crafty ruse to deprive you of your PPI money and they are using the CCJ and interest to do this.

 

So let's jsut suppose they did ask for contractual interest to be included and the judge did include interest in the judgement, the next question is at what rate and how much?

The fact that they seem to make it so neatly add up to your PPI award ........ well they must think you sailed up the Thames on a water biscuit! Thos looks like a load of bull to me and you will need to put them back very firmly in their box with a nice stiff letter and order them to cough up your PPI. Hell maybe you file a claim against them for your PPI!

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The CCJ posted shows that the creditor only requested interest 'up to judgement'. The judgement states the 'total to be payed' - end of no reference to any interest at all so I'd be inclined to demand the PPI and state extremely robustly what the terms of the CCJ are and that you acknowledge no debt of interest at all.

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The CCJ posted shows that the creditor only requested interest 'up to judgement'. The judgement states the 'total to be payed' - end of no reference to any interest at all so I'd be inclined to demand the PPI and state extremely robustly what the terms of the CCJ are and that you acknowledge no debt of interest at all.

 

Thank you so much for this, I think before I write I'll need to come up with some legal terms that I can quote so they no I mean business. As for the PPI they are paying this off the loan first and then any remainder into the currect account which I didn't mind because I would have used the money to reduce my debts anyway. I'm not sure if they have credited any account yet as it was only 2 weeks ago that I signed my acceptance form. It's really upsetting to see that what they will credit in PPI they have taken in interest so if I can get the interest removed then I will be very happy as my balance would have dropped and be almost clear on the current account.

 

Thanks for your help

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If anyone would like to comment/tweak/re-write this then please feel free. Writing letters is not my strong point :(

Mrs

.........

.........

..

Royal Bank of Scotland Group,

5th Floor, Hardman Boulevard,

Manchester M3 3AQ

12th November 2012

Dear Sir/Madam,

Ref: **-**-** ******** Case number: *******

I have recently discovered that you have been adding interest to my County Court Judgement after the judgement was made.

May I remind you that the judgement states that the “Total to be paid” was made clear and that there is no reference to further interest being applied to the judgement.

Please can you provide me with evidence of a clause in my credit agreement for this bank account that states you can apply interest after default?

May I also bring to your attention your failure to notify me that you were applying further interest after the judgement; nor did you inform me of the rate of interest that you were going to charge. I have also never received a statement of account from you since judgement.

I have calculated that you have added £2940.92 in interest since the judgement. I require you to refund this amount immediately and ensure my account is put back into the position it would have been had the interest not been applied.

Yours faithfully,

Mrs

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" Please can you provide me with evidence of a clause in my credit agreement for this bank account that states you can apply interest after default?" After Judgment.

 

N.B Interest can only be applied if referred to with the summons P.o.C or if contained with any of the T&Cs of the agreements in question.

 

Regards

 

Andy


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Thanks Andy, I have changed default to judgement.

 

The only reference in POC to interest is 8% per annum from date of submitting the claim to date of judgement or sooner payment.

 

Do you think the letter is enough? I found lots of references to adding interest after CCJ's on the internet but don't want to quote sections, cases (i.e Director General of Fair Trading v First National Bank plc [2001]) because I'm not sure if they are relevant and I don't want to put anything that's incorrect. (I think the above case refers to interest on loans not bank accounts for example).

 

Do you think I should go ahead and send my letter off or wait to see if anyone else wants a tweak?

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Hi Coot, I wouldn't worry too much about legalese just yet........ wait for it to respond and dig itself a hole first :-)

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Ok well its in the P.o.C but is it within any of the T&Cs of the combined claim then they need to disclose and confirm which account its being applied to?.You may wish to copy the letter to Irwin Mitch also as they are dealing with all payments.

 

" The only reference in POC to interest is 8% per annum from date of submitting the claim to date of judgement or sooner payment.

Regards

 

Andy


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Hi Coot, I wouldn't worry too much about legalese just yet........ wait for it to respond and dig itself a hole first :-)

 

Thanks Mike, love the way you refer to them as "it" think that just about sums them up lol :-)

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great thanks Andy, I posted a spreadsheet in post #6 and I'm pretty sure that's more than the statutory 8% they've been adding every month.

 

I'll post out to both of them today.

 

Thanks everyone x

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Lol, I've had my run ins with Ratsnest in the past........ oh and, use the Bishopsgate address for any/all correspondence [National Westminster Bank Plc, 135 Bishopsgate, London EC2M 3UR]......... thinking about it, you may as well copy it to the legal dept at 1 Princes street, London EC2R 8PB as well..... contact number is 020 7714 4444 should you feel the need to let off some steam :-)

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Just remembered, that's a direct line number for a Mark Cho in the legal dept...... probably best not to tell him where you got his number from

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