Do you have money worries and a loan or credit card with your bank?

Loimy · 8 March 2014 at 10:24PM

I had a credit card with Natwest that regrettably defaulted in 2007. This became statute barred in 2013 and dropped off my credit file.

I've just received a letter from Natwest reminding me of this defaulted account and stating their Right to set off the outstanding amount with funds held in my other Natwest accounts (I have a current and savings account).

However, the letter also states that the default is now managed by Apex Management and that I should contact them "urgently" to discuss my repayment options. They quoted a phone number for Apex which is no longer a valid number. I have moved house recently and don't have any recollection of any letters from Apex.

My questions are:
- can they still set off the outstanding balance even after the default has been statute barred after 6 years?
- if they have sold off the debt to a debt management company who have not contacted me for the past 4 years, is this letter something to worry about or is it just scare tactics from the bank?
- if I contact Natwest to query this letter and offer to pay back the debt, will this reinstate the defaulted account on my credit report?

Many thanks in advance for any advice.

L

shaunaaron · 5 December 2014 at 4:19PM

CAN BANKS TAKE ALL THE PPI or just the arrears

I got a mortgage statement and my mortgage last month was 890debit arrears and this month it was 4780 in credit , so anxiously I phoned and they told me it was for ppi , I have never made a claim for ppi they just refunded it to my mortgage account . she told me that they could not tell me anything else until I received the letter that would explain more .( still waiting for letter) SO WHY has it been paid direct to my mortgage account without even telling me I had ppi , im a little confused ,,,,, can the bank keep it or just the Arrears ????

tgroom57 · 18 February 2015 at 2:06PM

In a few years time I will start drawing a company pension, and there is a lump sum as well to start with. Nothing enormous, just a "useful" amount. I will not pay this lump sum into my bank account, because they would take off the full amount of a credit card default some years back, and I would sooner pay a partial settlement when I'm good and ready.

So no question really. Just a heads up to anyone in the same boat.

Dixiegirl · 24 March 2015 at 9:33AM

Hi looking for advice please ,I am currently in a dmp with stepchange ,my debt is with Barclays ,mint cc and rbs cc,can anyone tell me if I put any money into a Lloyds bank account can anyone take this at source to pay off cc s,

thebool · 25 April 2015 at 1:47PM

Loimy wrote: »

I had a credit card with Natwest that regrettably defaulted in 2007. This became statute barred in 2013 and dropped off my credit file.

I've just received a letter from Natwest reminding me of this defaulted account and stating their Right to set off the outstanding amount with funds held in my other Natwest accounts (I have a current and savings account).

However, the letter also states that the default is now managed by Apex Management and that I should contact them "urgently" to discuss my repayment options. They quoted a phone number for Apex which is no longer a valid number. I have moved house recently and don't have any recollection of any letters from Apex.

My questions are:
- can they still set off the outstanding balance even after the default has been statute barred after 6 years?
- if they have sold off the debt to a debt management company who have not contacted me for the past 4 years, is this letter something to worry about or is it just scare tactics from the bank?
- if I contact Natwest to query this letter and offer to pay back the debt, will this reinstate the defaulted account on my credit report?

Many thanks in advance for any advice.

L

Interested to know what happened with this.

dimpy23 · 12 October 2015 at 5:16PM

I have found out today that 3 years ago Halifax used my PPI award to set off against a credit card debt.

I haven't had any correspondence about this at all.

It only came to light because a few weeks ago they sent me a letter and questionnaire saying that my PPI claim could be reconsidered. Today's letter says that it was reconsidered in 2012 (without my knowledge) and I was awarded £1100.

I couldn't find any record of this in correspondence or bank so rang them - after much faffing about the girl said it had been used against my debt.

A letter's gone out tonight asking for copy statements from beginning of 2012 to date as they seem to have stopped sending me any.

Is if acceptable for PPI awards to be used in this way?
Any chance of a refund do you think?
My personal circumstances are pretty dire due to bereavement and divorce, as they have been advised many, many times.

Thanks, Dimps

Kev42976 · 22 May 2017 at 11:01PM

I am slightly concerned after reading some of these posts.
I am about to enter a DMP, with one of my debts being £5400 owed to Barclaycard.
I have today opened a basic bank account with...........Barclays!
Can they take money from my new account to repay the debt to Barclaycard?

sourcrates · 22 May 2017 at 11:14PM

Kev42976 wrote: »

I am slightly concerned after reading some of these posts.
I am about to enter a DMP, with one of my debts being £5400 owed to Barclaycard.
I have today opened a basic bank account with...........Barclays!
Can they take money from my new account to repay the debt to Barclaycard?

Yes, get a different account, preferably with a bank with whom you have no debt.

juepooh · 19 February 2018 at 5:10PM

Hello, new here and really struggling to find an answer online so thought I'd turn to you all in hope of some advice. I am about to enter into a Debt Management Plan and as I have a debt with my bank I have switched to another provider. The worry I have is my child also has a Junior ISA with the bank I owe money to and I am the trustee of this, will the bank be able to take money from his ISA towards my debt? Thanks in advance.

Lolly999 · 17 October 2018 at 2:56PM

I have never even heard of this until this morning -

We had a joint account, and both had a personal accounts held with Natwest - The joint account and MY personal account where overdrawn - I had spoken to Natwest a month ago and explained that my daughter was poorly and I have had to give up my job at the moment - But the house sale was going through and just waiting for completion date.

Today however my partner has no money in his account! They have taken the money from his own solo account and paid that money into my Solo account and the joint account, and then closed both accounts!! We are now left with zero money in his account! To which we had to borrow anyway to see us through to next week..

Over an hour on the phone 5 different people from different departments and i get " Im sorry about that i do understand" But we will look into it and get back to you!!!

So now we have zero money - Natwest will take their time... :mad::mad::mad::mad::mad::mad::mad::mad::mad:

Do you have money worries and a loan or credit card with your bank?

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