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Orchid47

NatWest/Incasso claimform - business OD + Business Loan

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My partner has a bank loan which unfortunately due to the Recession and being self employed has been unable to make the monthly payments.

 

Wrote to bank and they agreed monthly £1 payments till things picked up.

 

They have asked for an update on finances and so we sent them a Personal Budget Sheet with a letter explaining that circumstances have not improved and this could be seen from my income and reduced expenditures sheet.

 

They have written and said that because of excessive spending on my phone £45 per month and £250 per month for travel and vehicle costs that they cannot accept the £1 offering.

 

How can this be so ridiculous.

 

He has to use the phone to get any work and the fuel cost is only £60 ish pounds a week. This amount has to cover repairs on my 7 year old Van, RoadTax and Fuel which he obvioulsy has to spend in order to get to do the work as an Electrician.

 

Any advice would be greatfully received ASAP PLEASE.

Edited by Orchid47
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I think you have the answer in your post above, write and explain

how the expenditure arises.


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your mistake was sending them the financial in/out

 

NONE of ther business!!

 

only a judge can ever order that.

 

dx

 

 

dx


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Thanks for your comment,

 

but if you want the bank to be on your side and agree to let you continue with the £1 payment contribution

and they ask for a Financial Statement and you say No,

 

wont that get their back up and then they'll refuse to let you carry on.

 

Really dont want them to slap a charge on house????

 

So only trying to do the best thing.

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a charge ...where did that come from?

 

how big is/was the loan then?

 

dx


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WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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No one has mentioned a charge against the house, but because we've a Business Account and Business Credit Cards, and private account and private credit cards all with them I'm panicking.

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all the more reason NOT to tell them your private financial info then!

 

i'd start getting some of your acount out of their hands/banking group

 

its a bad idea to have everything with the same bank.

 

they can offset whenever they wish and you cannot stop them

 

so that prob answers the 'charge'issue

 

and that s a VERY VERY long way off

 

atleast 2 court cases.

me thinks you ned to do a bit of reading around a few threads

 

tell us about this loan please

 

dx

 

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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Ok, the loan is £28K, the rest are credit cards and a £10K overdraft

 

Why?

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ok well i think we need to go thru these

 

and look a reclaiming PENALTY charges and PPI?

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

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WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

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PLEASE please can someone tell me what to do.

 

my partner had several accounts with Nat West, some personal, some business including 2 x Nat West Credit Cards.

He's self employed and since the Recession hit work has been hard to come by.

 

Initially he contacted Nat West when he realised he couldnt pay his monthly amounts and set up £1 per month goodwill gesture which he has been doing for last year.

 

This year work is still not great, and they contacted him for a breakdown of his monthly outgoings.

It was obvious he couldnt afford more than £1 per month as there was no money spare after paying mortgage, council tax, utility bills etc.

 

They came back to him and said they couldnt accept it becuase his monthly travel costs

- which included a tank of diesel for his work van was over the top.

(It wasnt, one tank a week - he has been having to travel all over to get what work he can!!)

 

He called them and spoke to them and the lady he spoke to also agreed it wasnt excessive.

 

Then he receives a letter saying that his offer of repayment was unacceptable,

and that as they are aware he is a homeowner it is there intention to secure a charging order and this will be passed to their solicitors straight away.

 

Low and behold a letter then arrives from Incasso,

saying they have been asked to recover all the monies he owes.

So they have lumped all the outstanding monies now together to make it look one massive amount owing.

 

Ok, so they want the moneis paid in full within 7 days. He's only just opened letter and 7 days are up.

 

PLEASE tell us what to do?

 

None of the loans were secured loans, one was a non personal business loan which is not Ltd.

 

One a business credit card, one personal loan, one personal credit card

None of the loans included any PPI

 

What do we do to stop a charging order?

Need some help ASAP as 7 days up

Edited by citizenB
spacing for easier reading.

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Incasso arent solicitors, are they.. they are Debt Collectors.

 

Did you keep the envelope that the letter came in? It is likely it was sent by 2nd class post in order to obtain a knee jerk reaction.

 

Have you received any Default Notices from NatWest ?


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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 the debts have different terms and conditions and are personal and company debts, I dont think they can lump them together..

 

But will flag your thread for assistance. Meanwhile.. try not to panic, but do start to collect all the information you can in respect of your debts.

 

Best way to do this is to send a Subject Access Request to NatWest immediately. You will find a draft letter in the CAG library at the top of each screen. You will need to send £10.00 with the request and they have 40 calendar days to comply.

 

Send the letter by either Recorded or special delivery post and from now on keep all communication to writing, keep copies and proof of postings.


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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Ok, thanks so far for replys.

If I send Nat West an SAR do I need to send one to all the different account numbers?

What does this hope to achieve?

Also, Incasso are an LLP, so guess that means they are solicitors now???

 

Also, how will an SAR stop the Charging Order, can I stop a Charging Order?

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No, you only send the one - you should make it quite clear, that whilst you have given them some Account numbers to work with, the request is for ALL data on ALL accounts that you hold with them.

 

You are looking to obtain as much information as you possibly can JIC they do decide to get nasty and start litigation.

 

Your primary requirements are communication log - this will show what actions they have taken on your accounts , when and why. Statements, in order to show how they have arrived at any balance they are demanding. Facility letters for any overdrafts on your current accounts both personal and business.

 

Are all the accounts in a single name or are there any joint accounts?

 

Do you know if there are any default charges/late payment charges added to any of the accounts ? In respect of the credit card accounts, you will be able to reclaim these.

 

Do you know if there was any Payment Protection Insurance added to ANY of the accounts - if these were mis sold then you should be able to reclaim the premiums with interest.

 

They cant simply demand repayment of all the sums.. the credit cards, protected under the Consumer Credit Act, require them to follow regulations which means sending you Default Notice, you then have to fail to remedy any breach, they then are required to advise you of their next steps.. eg.. selling the debt on, or litigation.

 

I have flagged your thread for the attention of others with more knowledge.


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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to get a charging order

 

they'd first have to get him in court

 

they cant just 'lump' all the debts together!!

 

as pointed out

incsso are a fake/tame' solicitr for hire lot

 

 

DON'T contact

esp by phone.

 

ideally you should NEVER ever discuss your debts on the phone

even with your bank

as that negates a 'papertrai'l of important documents.

 

dx


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

please do not post jpg images directly to a topic..USE PDF ....READ UPLOAD.

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

Single Premium PPI Q&A Read Here

Reclaim mis-sold PPI Read Here

Reclaim Bank Account, Loan & Credit Card Charges Read Here

The CAG Interest Tutorial Read Here

spreadsheets 

 

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Should we be making an appt to see a debt advisor?????? Not sure how to cope if dont have any spare money each month to pay debts???

 

Jump of a bridge perhaps?

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Also, how will an SAR stop the Charging Order, can I stop a Charging Order?

 

 

NO.. a SAR will NOT stop a charging order. However, it might help you if they do decide to embark on litigation.

 

From what you have said so far, they are hell bent on obtaining a CO - the only way you will avoid this is to pay what is owed or at the very least any arrears on the accounts, bringing them up to date.

 

http://www.nationaldebtline.co.uk/england_wales/page.php?page=35_options_for_dealing_with_your_debts

 

 

The link above is the NatDebt fact sheet on dealing with your debts - there are options available to you. However, the one problem your partner has is the ownership of property.

 

If the property is in joint names then I think they can only obtain a restriction as they cannot make the co owner responsible for another's debts.


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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Ok, the mortgage is in his name only. There is no spare cash.

from what I've read we cant do IVA because there is not enough spare each month and he is self employed

PLEASE tell me what we need to do???

 

Dx thank you, but what should we do?

Should we write to Nat West? or Incasso?

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In the first instance, you should write to Incasso, confirming that you have made an offer to NatWest - and as such you believe their recent communication is unreasonable. That you believe you are being "Treated Unfairly" by the bank as you have made them aware of your circumstances.

 

Is there equity in the property ? If not, then there is little point in them attempting to make you bankrupt as they are unlikely to get paid if all the monies goes to the mortgage company. Does NatWest hold the mortgage ?


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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There is a little equity, but not enough to pay off the lump sum. Mortgage isnt with Nat West - fortunately!

 

Any more advice is hugely appreciated

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Hi Orchid

 

Once you have requested the DSAR as advised by CB above then you need to send a request for each Credit agreement this is called a section 77/78 request.You pay £1 for each request and send them recorded delivery.Print your name on the request or sign uniquely.Section 77 is for fixed credit ie loans and 78 is for running credit ie Credit cards.

 

They have 12 days plus delivery to respond and forward a copy of the agreement and the T&Cs and a current statement of balance.If they fail they cant enforce said debts.If they comply post up what you receive for scrutiny.

 

Regards

 

Andy

 

That will keep Incasso quiet for a while.

Letter N in the templates section


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Hi Andy

Huge Thanks for this help

Bit confused though. If we do the SAR and also the 77/78 requests why will this keep Incasso quiet?

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Because they are legal requests that they must oblige with and gather all the requested information.It signals that you know a bit about law and are no push over.

If they do comply with said requests you will be far better armed should any litigation commence.

 

Regards

 

Andy


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OK. thanks guys for all your advice. I'm doing SAR now and will send 77/78 letters in ????? Couple of days, or should I want longer??

I'm also writing to Incasso and will come back when I've had reponses

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Send today and dont waste your time with Incasso, deal with the organ grinder.


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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

 

If you want advice on your thread please PM me a link to your thread

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