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My Husband & I had a Business Loan with Nat. West,


phatram
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the faq's would be where to start, link in my signature

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Mortgage Express charges- settled in full after issuing claim

 

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To view the FAQ'S click here: http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/

To view the PRELIM letter click here: http://www.consumeractiongroup.co.uk/forum/bank-templates-library/516-1-data-protection-act.html

To view the Letter Before Action click here: http://www.consumeractiongroup.co.uk/forum/bank-templates-library/92-3-letter-before-action.html

To find Registered Address:

http://www.esd.informationcommissioner.gov.uk/esd/search.asp

 

 

If my advise helps click here http://www.consumeractiongroup.co.uk/forum/reputation.php?p=366404

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Hi,

My Husband & I had a Business Loan with Nat. West, for our Fish & Chip shop, from 1984 - 1989. During that period we incurred horrendous bank charges and are now wondering if we have any chance of reclaiming them? We paid them literally thousands - £25.00 per letter, charged for returned cheques etc - but realise this is much longer than 6 years ago.

We would be very interested to hear your views, and look forward to hearing back from you,

Cheers

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Many thanks.

What about this bit?

you can not claim for:

 

ATM (cash machine) usage (typically £1),

an agreed overdraft fee,

anything which is deemed a "service" by the bank

(more will be added as and when confirmation is found)

What is a "service"?

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Hi Phil.

The big problem is that anything beyond six years is time-barred by the statute of limitations.

You would have to prove that the bank deliberately set out to keep this info from you.

 

For further information on this, use the search facility to search for "statute of limitations".

It has been discussed in these forums so a search should throw something up.

 

Good luck.

If this has been useful to you, please click on the scales at bottom left of post. Thanks.

 

Advice & opinions of Rooster-UK are offered informally, without prejudice & without liability. Please use your own judgment.

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Hi,

In 1984 we had a Business Development Loan with the Nat West and were told by the bank manager there was NO ERC. We sold the business 5 years later and were charged thousands of pounds for paying off the loan early.We complained to the banking ombudsman who found in the banks favour. Anyone any ideas of whether it's worth trying to get it back?

Thanks.

Co-OpS.A.R - (Subject Access Request) sent 24/10/2006

MARBLES S.A.R - (Subject Access Request) sent 25/10/2006

MBNA S.A.R - (Subject Access Request) sent 25/10/2006

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Hi,

In 1984 we had a Business Development Loan with the Nat West and were told by the bank manager there was NO ERC. We sold the business 5 years later and were charged thousands of pounds for paying off the loan early.We complained to the banking ombudsman who found in the banks favour. Anyone any ideas of whether it's worth trying to get it back?

Thanks.

Co-OpS.A.R - (Subject Access Request) sent 24/10/2006

MARBLES S.A.R - (Subject Access Request) sent 25/10/2006

MBNA S.A.R - (Subject Access Request) sent 25/10/2006

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1 )

Did you have the information about ERC in writing? Or was it only verbal?

This just shows the importance of corresponding by letter.

 

2 )

The banking ombudsman sided with the bank

 

3 )

It's over six years ago which means that you are up against the statute of limitations.

 

IMHO I don't think you'll succeed.

 

If anyone knows different then I will be happy to stand corrected.

If this has been useful to you, please click on the scales at bottom left of post. Thanks.

 

Advice & opinions of Rooster-UK are offered informally, without prejudice & without liability. Please use your own judgment.

-------------------------------------------------------

LOOK! Free CAG Toolbar.

Follow link for more information.

 

------------------------------------------------------

Please donate,

Help us to help others.

 

 

LINKS....

 

Forum Rules.

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  • 1 month later...

Sent off S.A.R - (Subject Access Request) today for our business account from more than 6 years ago.

It will be interesting to see what comes back, if anything.

If they had to pay back everything with interest, we believe we would be debt free.

We are expecting a fight just to get the info, but have been told they have it, and will of course deny it.

Edited by phatram
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  • 1 month later...

Does anybody know how long the NatWest bank keeps details of business accounts and business development loans for, after that business account and loan has closed and loan been paid off ?

No guessing please, this is very important.

Thank you

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