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I am aged 70, widowed, and have been retired for just over 5 years.

I retired about 7 months early due to health issues, but all is well now.


Prior to this I ran into debt caused by escalating education fees, other issues, and the desire of others to increase their profits.


When it became necessary to cease work I consulted the C.A.B and a Debt Management Plan was set up.

An IVA was not suitable because I do own the house that I live in.


I have kept to the Plan for just over 5 years and agreed payments have always been paid on time.


My income is £710.24 per month made up from, State pension, Pension Credit and a small works pension.


Of this £274.24 is paid to my unsecured creditors.


The reason that my living costs are fairly low is because living expenses are shared with my Mother who lives in the house.


The total of the Non Priority Debt is listed as £56689.56 (actually a little less than that).


After 5 years I decided to investigate these debts further because I could not see how they could be so high.


I did have the suspicion that Nat West had loaded me with some PPI.

I challenged them on this and and am now in receipt of a offer of just under £14000 for two cases of miss- selling. (I only had suspicion on one).


An issue with this is that it seems that they want to just reduce the debt to themselves.

I have written to them requesting clarification on this and stating that the money should be shared between those that are entitled as a final settlement.

Thus far I have not had a reply.


On the 12th November I sent out by recorded delivery letters to 4 of my creditors, a PPI complaint, and a request for the Consumer Credit Agreement.

Unfortunately I had forgotten to send the Pound, which I sent on the 19th of November with a reference to the first letter.

There is one of these that might be adrift.


Those were delivered on the 20th and it is now the 8th December and I have had only one reply. It looks as if 3 of them are in default


I suspect that there might be another PPI out there and am sure that one will not be able to provide a CCA.

I am not seeking to profit from any settlements, I just want to be clear of it all.

I feel that as I have completed more than 5 years of frugal living that is enough.

After all these people caused the problems through their greed


Please note. when sending recorded letters to PO Boxes the tracking does not register a delivery because it is collected in bulk. The delivery can be verified by phone

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What is the basis of the Natwest mis-selling?

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The mis-selling was concealed, because I was not informed, I was never given or sent a CCA or statements despite visits to the branch. I have only ever seen two statements and these have been since starting the DMP.

The whole issue was a fraud.

Thanks for looking

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Have you any idea of how the figure has been calculated?


On the NatWest attempt to set off the payout against the debt, I've flagged it up to the team as I realise that I don't know what the current position is with this.


If they have made the offer without any FOS intervention - then it must be pretty blatant mis-selling

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Responding to BankFodder's SOS.


OK so NatWest have made an offer. You won't be able to check whether it is correct unless you have the agreement and the record of repayments made. Have you got those details?


There won't be any adjustment to the offer due to any damage caused....the calculation of offer (when correct) will be in accordance with the FSA guidelines on redress.


If Nat West still own the account and there is a balance due to them then they can use their right of set-off to set the award against the amount you owe them. If the account is live they can only set-off against notified arrears. If the account has been terminated and the whole balance has become due then they can use general set-off.

Edited by ims21

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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

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5. Feel Bullied by Creditors or Debt Collectors?

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6. Staying Calm About Debt

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7. Thinking of a Full & Final Settlement?

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