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Nat West have Terminated my business acc

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Hi,

 

NW have terminated my business account and are demanding their 3.5 K overdraft back.

 

In the first instance, I need to get a new business account asap in order to process payments owed to myself.

 

I also have a current acc with them, but no notification of termination of that yet !!

 

Termination due almost certainly to the 13.5 K credit Card disputesI have with RBS.( unenforceables imho and 3 years down the line).

 

Seems I am now a High Street Bank no no.

 

Any advice appreciated.

 

Thanks,

 

Trout

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What type of dispute do you have with them regarding the credit cards ?

 

Yes, almost certainly get yourself new accounts with other banks.. making sure that the one you choose has no connection at all to RBS.

 

Also be very careful that they dont make any attempts to merge the credit card balances and the overdraft balances together as one debt.

 

I would suggest you send a Subject Access Request as soon as you can for both accounts in order to avoid their shredding any important information under their 6 year rule.


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3: Banking Conduct of Business Regulations - The Hidden Rules

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5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Welcome to CAG. Can you give us more detail on this ''dispute'' please??/


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Thanks for the replies.

 

Whilst going through a devorce from hell, I ran up approx 30k of debt on various credit cards.

 

IMHO most are probably unenforceable ie lacking prescribed terms etc

 

An Egg Card was terminated when not in default ( perhaps now with Marlin we will see the validity of that defence ).

 

In regard to RBS, A Halifax cca request was not complied with,and then they terminated on the back of a faulty dn.

 

my NW credit CCA request resulted in a recon and subsequent invalid termination as above.

 

All my cards are pre 2007.

 

Natwest have now demanded the repayment of my adv gold overdraft.

 

Both the dn's were initialy addressed to an incorrect surname.

 

A second DN was sent re the adv gold acc with my correct surname but if 2nd class only gave 13 days.

 

I know that I am in the s**t, but all advice welcome.

 

thanks

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Not quite sure what advice you are looking for.

 

It would appear you know and understand some of the issues that the creditors will need to overcome (if they can be overcome) with some of the errors they have made. So if they were to proceed with litigation, you would stand a fighting chance.

 

Was there any PPI or default charges applied to the accounts ? Could the PPI have been mis sold - if so, you could reclaim that. Default / Penalty charges you can claim back.

 

From what you are saying, you have 3 years to go before SB. Your credit files will almost certainly be trashed for at least the next 3 - 5 years.

 

Have you sent Subject Access Requests to the original creditors ? If they proceed to litigate at some time, then you need to have all the information they have in respect of these accounts - there appears to be a trend to dispose of any data that is older than 6 years by the banks.

 

What exactly do you want to do?


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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My main concerns in the short term are the two overdrafts that NW have demanded repayment of.

 

How should I approach them ie repaying them would be nigh on impossible unless they agree to stop

adding interest,( is it common for them to agree to that ?). I really need to get in contact with them asap.

 

BTW, I managed to get a new bank account.

 

thanks,

 

trout

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All you can do is try and reason with them. Simply point out that you are not in a position to repay the overdrafts in full, on demand.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?20758-Creditors-and-DCAs-Letter-Templates-amp-Budget-Planner

 

You will find some draft letters in the link above, there will be, I am sure one that you can adapt for your situation.


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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As always, thanks CB.

 

BTW can I post up the name of the Bank that took me on ( and its benefits ), I think it would be of importance to many on this forum ?

 

thanks,

 

trout

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As always, thanks CB.

 

BTW can I post up the name of the Bank that took me on ( and its benefits ), I think it would be of importance to many on this forum ?

 

thanks,

 

trout

 

You most certainly can :)


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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If you need a bank account but cannot get one due to bankruptcy / bad credit rating etc then try the SECURE TRUST BANK.

 

Some of the benefits are -

 

telephone and internet banking

 

allow you to pay standing orders and direct debits

 

make BACS and Faster Payments

 

pay in wages,benefits and cheques

 

provide you with a mastercard pre paid card

 

do not charge for refused payments from your account eg direct debits

 

do not allow you to go overdrawn

 

pay a small amount of interest to you in regard to cleared funds

 

allow you to pay in cash at payzone outlets

 

Some disadvantages are -

 

you can't issue cheques

 

cheques paid into your account ( free at barclays only ) take 7 full working days to clear

 

a 40 pence charge for every Faster Payment

 

a 50 pence charge for atm withdrawals

 

a £12.50 monthly account fee

 

The above is just a brief summary, go to their online site for more details

 

hope this will be of some use to members

 

trout

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