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paul26may

Nat West debt

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I have recently had 5 claims against RBS/Nat West upheld thanks to a CMC.

 

 

One of them is for £9400 but Nat West have informed me (by text message) that they have paid the money into my Nat West current account.

 

This account was frozen in around 2003 after I deposited £10,000 into it (at Nat West's insistence) following a remortgage.

The reason for this was as I recall to offset against a loan that I had defaulted on (balance at the time unknown but obviously £10k+). At the same time I cleared an overdraft of approximately £5k.

 

For a while I received statements for this account but then they stopped.

Shoosmiths chased me for the outstanding loan for a few years on their behalf.

I have heard nothing for about 4 years or more.

 

I rang the Nat West today and all they could tell me was that the balance of my current account is now £8400.

When I asked where the difference between what I deposited (£10k) and today's balance had gone they had literally no idea!

 

My questions are:

 

1. Do they have the right to offset when for the past 13 years they have held £10k in an account that I have not been able to access? Should those funds not have been immediately applied to the outstanding loan?

 

2. If the Nat West acted unfairly can they be brought to task over our subsequent repossession in 2008. A small proportion of the £10k that they were holding could have easily prevented us from losing our home at the time.

 

I have long been of the opinion that Nat West were indeed acting unfairly and this latest escapade and their subsequent apparent incompetence in not being able to supply me with accurate information about my accounts just smacks of a shoddy and couldn't be bothered attitude.

 

Granted the first port of call is a complaint to Nat West but I am reluctant to escalate to the FOS because of their toothlessness!

 

Any advice would be most welcome.

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I recently posted a question about several PPI refunds that I have had upheld with RBS and a related question regarding a loan and a frozen bank account. Despite over 275 views I have unfortunately not had any replies and now need to 'escalate' this to a solicitor or such. Can anyone recommend a suitable/reputable firm?

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no paul we don't do that

not allowed.

 

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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It's difficult to know where to go then with my problem. I guess it's a complaint to Nat West followed by the FOS?

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IMHO yes

official complaint time

but don't waffle!


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, DCA;s would collapse overnight.

 

 

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