Gem523 v NatWest

[Gem523]

Hi,

 

I've just had a bit of a shock today. I am currently with a debt management company (who are free and don't fleece me!!) and have had some money donated to me by my parents to clear my debt. So, I am currently under negotiation with my creditors (think that's the right word!) for settlement figures.

 

Anyhoo, NatWest (or Unidebt as they are calling themselves) have lead us to believe that my outstanding balance was approx £1600. When my people have contacted them for the full balance to begin settlement negotiations they have this week told them that my total balance is......wait for it........£5987.72!!!! I took this debt out about 7 or 8 years ago and if I recall it was certainly no more than £6k or £7k total back then. I have been paying £71 a month without fail for the last 2-3 years and more before that, which they have readily accepted without query or question. I can only guess then, that the interest charged each month is more than the amount I have been paying each month. Very irresponsible lending in my opinion. So, I thought I was paying off a debt when really it has been growing with venom.

 

I ring Unidebt today and here is what I found out:

• My balance is £5987.72 but could be fully settled for a lump sum of £3250
  
• They do not know how much interest is being charged on my account each month as it is an old account (again irresponsible in my opinion)
  
• When my people send pro-rata payment proposals, they do not even look at the balance they have given, which should really lead to a balance dispute and an early warning on my part, but only at the amount offered. If they think that that is an acceptable offer they will accept regardless of how much interest is being charged (again irresponsible)

My debt people have sent me the latest balance provided by Unidebt which stands (I believe) at about £2k which I should receive next week. Unidebt are sending, at my request, a dpa print out detailing all activity on my account over the last 6 years.

 

I personally feel that I could win a fight here, with an argument that NatWest/Unidebt are irresponsible lenders and that they have been stringing me along happy that I am drowning in their account interest charges.

 

What does anyone think? Advice would be VERY gratefully received.

If you do think I have a good fight, how do I go about it??

 

Thanks,

 

A VERY ANNOYED young lady

 

:-x

[Dispirited]

Hi Gem523, I'd certainly be trying to reclaim charges. You might want to post in the NatWest forum as well as this one.

http://www.consumeractiongroup.co.uk/forum/natwest-bank/

[rory32]

Before offering reduced settlements to any of your creditors it is a good idea to send them a SAR to see what charges are on the account. You can reclaim these back to reduce the balance. It is also a good idea to see if they have a copy of the credit agreement that you should have signed when taking out credit. If they don't this puts you in a very strong negotiating position for full and final settlement.

 

Always ensure full and fial settlements are accepted in writing before paying any money.

 

Please don't start a new thread in the Natwest forum as it will just get merged with this one.

[Gem523]

Hi,

Thanks for getting back to me.

I have already verbally requested the last 6 years account activity so will be able to better fight my cause. As far as I am aware, this does not include any charges as such, just high levels of interest that have accrued. But I will definately be fighting this.

 

From what I gathered today, they won't have any record of my original agreement so hopefully it will put me in a strong position.

 

I think now, I'll just have to wait patiently for all my requested info and come back for more advice when I'm ready to fight my case.

 

[Gem523]

Just an update - I've had my balance recalculated and it's now just over £1800. Quite a drop from £6k!!!

 

Hurrah!