apologies

rog2

petal9 wrote: »

THANKS ROG2 FOR THE ADVICE,Ive worked out finances and decided im going to send a letter to the natwest stating a monthly offer,i will of course include an i&e.I enquired wit payplan etc and there offer to natwest would be a lot less than what im i can afford £280 towards my loan instead of £430 and £50 towards my overdraft.Does this sound reasonable? I could also do with advice on putting a good letter together,if anyone can help there,id be grateful,ive been given 2 weeks by the lady i spoke to at natwest birmingham collections,to contact someone for advice and get an offer to them before a default notice is issued.Thanks again all those that have given advice,your support means so much to me xx

Hi petal - first of all you must make sure that you do not make an offer of payment that you can not afford, and, please, do not allow NatWest to pressurise you into so doing.
For some excellent advice on how to negociate with your creditors, including 'example letters' click on the following link:

http://www.nationaldebtline.co.uk/england_wales/review_pack.php?page=for_people_with_available_income_to_make_payments_to_their_creditors

You will, of course, need to include a copy of your income/expenditure statement, so don't be tempted to underestimate your expenditure. I suggest that you look at, and download, the following self-help guide to working out your budget (again from National Debtline):

http://www.nationaldebtline.co.uk/england_wales/pdf/self_help_pack/workingout_pbs.pdf

Good luck

alleybabes

rog2 wrote: »

Hi petal - No need to apologise. I have just been reading your original thread and, whilst things probably look pretty bleak at the moment, there is a solution, out there - it just needs finding.
The first thing, that you must do, is to talk with one of the Debt Counselling Charities, such as National Debtline - 0808 808 4000, CCCS - 0800 138 1111, or your local CAB. They will give you free professional advice and go through your income and expenditure before they reccomend the best solution for you.
It looks as though you have fallen into the 'consolidation' trap, possibly by being given bad advice in the past, so keep all your options open, but speak to someone who has no financial gain to make out of helping you.
And, whilst it is easy to say, try not to worry too much - it's only money at the end of the day - there are plenty more in your position, and the financial institutions like to keep up the pressure, even though they may have been, in no small way, partially responsible for your demise.
Debt is not a criminal offence - nobody is going to drag you off to prison - and there are plenty of people who will be only too pleased to help you.
Good luck.

:T we need people like you on here:beer:

petal9

Thankyou so much for the advice rog2,ive just sent a letter to natwest,stating my situation and i&e,ive offerd them £280 instead of £430 for my loan account and £50 towards my cheque account,this is out of my wage of £850 do you think it could be accepted? suppose will find out soon,i also told them i have set up standing orders for the payments,thought it would show im serious and trying to sort it out.
thanks again to everyone who has supported me,ill keep you posted xx

RAS

Well done for sorting it out. Hope Natwest play ball.

beanielou

Fingers crossed!

Numpty_Monkey

Good luck petal,

rog2

petal9 wrote: »

Thankyou so much for the advice rog2,ive just sent a letter to natwest,stating my situation and i&e,ive offerd them £280 instead of £430 for my loan account and £50 towards my cheque account,this is out of my wage of £850 do you think it could be accepted? suppose will find out soon,i also told them i have set up standing orders for the payments,thought it would show im serious and trying to sort it out.

Personally, yes, Petal - I think that your offers will probably be accepted, though please do not be surprised if they reject them, initially - the Banks are notorious for this. Stick to your guns and tell them that there simply is no more money available.

Good luck, petal. :beer:

petal9

Just letting you all know that,recieved a letter last week from natwest with intention to default,spoke to them yesterday,it seems they havent recieved my letter! I made a final offer of £250 towards loan and £50 to overdraft,i explained my situation that due to ill health have had to reduce hours at work,the guy i spoke to was very nice and tried his best to help,he said he would make a note of the fact id contacted them to explain my situation and that i could offer £300 in total,he said although this was a substantial amount on £31000 owing but did not think the bank would accept it,therefore a default would be issued and i could then deal with the recovery department.
Anybody had experience with natwests recovery department?
thanks x

rog2

petal9 wrote: »

Anybody had experience with natwests recovery department?

Hi petal - I am not really surprised that Nat West have 'rejected' your initial offer - passing it to their 'recovery department' basically means to their 'in house debt collection team' which will, most likely, consist of a 'computer software program' initially just trying to wear you down until you agree to pay more, whether you can afford it or not,
Stick to your original offer - make it plain that you can not afford to pay any more, and start making those payments - I doubt that they will be refused and it will show that you are serious.
Again, it will be worth a chat with National Debtline or CCCS, as it could be easier for you if they were 'talking' to NW on your behalf.
In the meantime, have a look at the following NDL link, on what you can do when a creditor refuses your initial offers:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=14_what_if_a_creditor_refuses_my_offer_of_payment