Natwest overdraft and account withdrawn

[Owed man]

Hi everyone

I need some advise from anyone willing to offer and from a relatives experience and high recommendations I think I will certainly get this here 

 

Here goes,

 

I have had a current account with Natwest for 10years or more and when i got into financial difficulties I applied for an overdraft around 6 years ago.

 

I could not believe how easy it was and cut a long story short my debt problem continued to spiral, over a few months before i knew it i had continual overdraft increase requests accepted and i now had an overdraft £4000,

 

So for the last 6 years I have just been paying the interest fees on the account which has continually been overdrawn just to try and keep it from exceeding the limit and incurring charges which some months further down the line failed to do and paid the overdraft charges when i could.

 

Over the last 2 months Natwest have been contacting me to settle the overdraft in full which i have not been able to do then suddenly the account was closed and I can not get access with online banking and now they say i have to deal with a DCA  (Moroncroft debt collection) who are now sending me threatening letters.

 

I don't dispute the overdraft debt but i need advice how to go about settling the overdraft and have a few questions?

 

1, I assume that even if the account is in default and Moroncroft have been assigned the debt i should still communicate with Natwest

 

2, I would like to get this debt cleared but i assume there will be plenty of charges on the account and wonder if i can claim them back and would like to know how as I have been told that unfair bank charges can be claimed?

 

3, can i ask Natwest to adjust the account and remove all unfair charges and then have a final amended figure to settle the account and clear the debt

 

Any help will be very much appreciated.

 

Thanks owed

[BankFodder]

I'm putting a shout out to my site team colleague @dx100uk who is best placed to advise you on this.

When you applied for your overdraft and then during the overdraft increases, was your credit record with the credit agencies already blighted? Did you have other debts with other organisations?

[Owed man]

Hi thanks for the reply,

yes I would have had other debts listed, I was surprised I got the increase?

 

owed man

[fkofilee]

@dx100ukwill be along soon - I have to ask though. This wasnt your main account was it? 

 

Do you have another account where your income is paid into? If not - Open one with some one. If you do then this should be a bit easier to deal with. 

Banks are calling in a lot of Overdrafts and tightening their Lending Criteria. Its likely that they issued a 60 day notice to terminate the account and along with that the debt associated it with will need to be settled. 

 

Could try an Irresponsible Lending Claim. May work... But you may find difficulty in it succeeding.

[dx100uk]

Sar 1st

get all the statements from day one.

 

Yes ignore moorcroft totally

 

Dx

[Owed man]

Thanks fkofilee/ dx 

 

ok , Sar sent to NatWest first I will look up contacts details on the forum and get back here once I have received the statement details.

 

yes this was my main account but I swapped to a new account 3 years ago just in case one day they reduced the overdraft with my wages? Hence I have just been paying overdraft charges for a number of years!!

 

owed

[dx100uk]

a copy of your credit file would be a serious game changer if it showed late payments/defaults/lots of existing lending at that time.

 

i've recently succeeded for a neighbour in getting a 2016 £32k overdraft written off under an irresponsible lending complaint.

 

 

 

 

[Owed man]

Thanks fkofilee/ dx 

 

ok , Sar sent to NatWest first I will look up contacts details on the forum and get back here once I have received the statement details.

 

yes this was my main account but I swapped to a new account 3 years ago just in case one day they reduced the overdraft with my wages? Hence I have just been paying overdraft charges for a number of years!!

 

owed

 

Wow dx that would be a game changer?

 

I have used all my free credit file checks up so will have to sign up for 1. Will it give reference to what was happening in the years around the account agreeing the overdrafts? Should I upload a redacted credit file so you can have your thoughts on where it stood at the time ?

 

Owed

[fkofilee]

Good job on the account changing, always better to have moved and be aware of what could happen. 

As for the CRA - No dont worry about the credit file entry. 

How many defaults did you have when you applied for an overdraft? 

[Owed man]

I need to wait for the sar reply to see where my debts were recorded, I’m not sure of overdraft application dates and now NatWest have remove access to my online bank account?

 

owed

[dx100uk]

as they do.

 

an sar to natwest will not tell you where your debts were recorded......

 

you will need a copy of credit files at that time for any IRL complaint to ever succeed, 

that will not be in an sar to NW.......

[Owed man]

Hi everyone

Just had my statements back from Natwest which show constant money going in to cover the over draft charges on a regular monthly basis.

1, Have I got just cause to put in a claim regarding the charges?

2, I have signed up to equifax but i am unable to find out how i get information regarding if i had any defaults for other loans/payday loans at the time the overdraft was obtained which I assume will assist when submitting an irl?

 

Any guidance will be appreciated. 

 

owed

[dx100uk]

On 16/12/2022 at 13:47, fkofilee said:

Could try an Irresponsible Lending Claim. May work... But you may find difficulty in it succeeding.

this is what was pointed too earlier , from the sar it will be possible to workout when the OD was applied for and granted. that gives you the date you need credit file history for.

 

you indicate it was about 6yrs ago, so most other credit in existence at the time would have been probably defaulted already, if it was those are removed from a credit file when the default reaches it 6th birthday along with the data you need about it.

 

this is why regularly checking and retaining copies of a credit file is always a worthy move, even if you are not in trouble at that time.

 

dx

 

[Owed man]

Ok thanks dx,

how do i get a credit file history for a certain date, do i just check what is listed and see how far back they go to find any defaults?

How about overdraft fees and late charges do i have a chance at putting in a claim on those?

 

owed

[dx100uk]

you cant go back in time no.

cra files are today.. thats it/.

 

use the fos cisheet and their od int rate. (cell d15)

put in every penalty charge on its individual date

the sheet does the rest

 

 

[Owed man]

Thank you dx,

I think reading then it will be the first spread sheet? I have unarranged and arranged overdraft charges and returned item/Direct Debit charges, can all these be added to the sheet?

 

Thanks

[dx100uk]

i have already told you the spreadsheet to use.

 

you can only reclaim fixed sum penalty fees.

ie returned dd fee £25

letter charge £20

overlimit £25

etc etc

 

[AndyOrch]

Open

[Owed man]

Hi Everyone

 

I sent an IRL to Natwest with regards to the multiple overdraft increase acceptance and loan taken out on the current account and this is their redacted reply attached. 

I have now escalated this the FOS and awaiting a response!

 

I have highlighted in red some contradictory statements and also the fact they they say that it is my fault that I used the loan that was applied for whilst being £2600 overdrawn?

 

Any advice will be welcomed.

 

owed

 

IRL reply.pdf

[dx100uk]

the fos wont swallow all that baloney!!

 

dx

 

[Gracelands]

Thanks dx do you think I have a case for IR?

is there anything I need to do or prepare whilst this sits to be processed. Do I inform Natwets that I have passed this on to FOS?

 

owed

Edited May 4, 2023 by Gracelands
Logged in on wife’s profile

[dx100uk]

yes a very good case 

thats a std response 

 

let the FOS do their bit.

it could be months if not a year wait mihd.

 

did you send EVERYTHING in/out to the FOS on say a penstick, or simply a letter?

 

it might have been better to have consulted us first if all you sent was some speculative letter.

 

dx

 

[Owed man]

Sorry dx didn’t like to trouble anyone I log I don’t need to?

 

read a few threads at work and then went onto the FOS web site and filled their standard complaint form adding the Natwets response, not sent them anything yet?

[dx100uk]

to stop unnecessary fos delays id send them a penstick with every doc or comms to date

you must have a ref no. from the fos already?

 

 

[Owed man]

Thanks dx, I received a reply to my complaint from fos on 26/04/23 with the standard email " we are very busy, because we are busy we will only get in touch with you if we can help you, if we can help you we will try to get in touch with you within 7 days but it may take longer"?

 

Unfortunately they have not provided a case number at the moment sorry!