what do i do now?

petal9

After sending a letter to natwest last month and explaining my situation,today i have been issued with formal notices saying if i do not pay the arrears on my loan or my current account off by the 4th september then further action will be taken against me,i have recently had to drop hours at work due to being ill and simply cannot pay,i finally offered £230 against my loan and £50 against my overdraft,my loan payment now is £430,but heard nothing from natwest.Has anyone had similar dealings with them,and what did you do? Any advice at the moment will be greatly appreciated.
THANKS XX

Rabbit-in-headlights

Hi Petal, and welcome!

Have you contacted one of the debt advice charities yet? (CAB, CCCS, National Debtline, etc? - you can find their details at the top of this forum, click on Non-profit Debt Counsellors' List in the resource bar). They will review your income & outgoings and advise you of the next step to take. CCCS have an online form you can fill in which will suggest options instantly, e.g. a DMP (debt mgmt plan), IVA, etc., you can do this anonymously and take it from there.

They will also represent you in negotiating so you don't have to face them on your own.

You could also post your SOA on here and some of the more experienced folks on here will offer you advice on where you might be able to save/get cheaper rates. There's a website www.makesenseofcards.com where you can complete your SOA and format it for this forum.

Most importantly, keep posting and you will find plenty of help here, and moral support - you are in good company and I've found the emotional support even more valuable (in the true sense) than the practical advice

Good luck, and let us know how you get on!


Rabbit

isgman

Hi, Natwest are just a robbin bunch of ********, they, dispite me having never missed a payment on my Loan/Overdraft (once an agreement was in place) have just taken me to court wanting twice the amount I am paying, sorry to be so negative, I would contact CCCS (www.cccs.co.uk) for advice they are Free and very helpful, ( as is this web site)

stapeley

You need to be careful, is the loan secured? Also it maybe a good idea to set up a new bank account with a completely separate bank. It has been known for a bank to take monies owed on a loan or card from your account. This is within the terms and conditions . Please kept up with all essencial payments first i e rates , gas , electric ,rent , if you have no money left for the loan so be it .

Broken_hearted

We have found Natwest to be getting nasty lately, have always recomened them but now switching banks and we don't even owe them anything.

petal9

Thanks guys for your advice,i tried cccs/payplan but they both came up with me ending up with about £200 to pay all my debts whic is why i want to do this myself,i already have arrangements with my other creditors and all seems fine,including welcome finance who i have to admit so far have been very helpful despite many people appearing to have problems with them!
Igsman i wondered if you could give me some information regarding your debt with natwest,how much you owe and paying etc that is if you dont mind?,sorry for being nosy,just sometimes it helps when you hear how others have gone on with a certain company.
thanks again xx

petal9

After a call to natwest on wednesday,i explained the situation,the guy was very nice,i told him about the letter i recieved and that due to illness and the fact ive dropped hours at work am unable to pay the full amounta nd could offer £250 for loan and £50 for overdraft,the guy said although it is a substantial amount its not enough to avoid default notice and that that is what will happen,i am to wait now for default notices and it then gets dealt with by the recovery department.
Yesterday i recieved a lettet from natwest dated 29th whic was friday,it said that they were concerned that i had not been in touch with them re default and that id still continued to use the account this is because of these cheques going through,i discussed it with the guy on wednesday who said they were unable to stop them. Anyway this letter goes on to say that as ive not been in touc with reference to the last letter they are plannin on sending my information to cifas? fraud department and i will be blacklisted as a fraudster!
Can anyone help me with this,what do i do,i have spoken to natwest re default so why are they saying im ignoring them? please help!

xx

mummytofour

A default does mess up your credit file but its by no means death, to you only your credit file. People put to much emaphis on credit files, yess life without credit may be harder in some way but in others its a blessing.
You are unable to pay your debts and the way creditors deal with this is often to default you before they will except a payment plan. Please don't worry, go with the flow this is the way natwest deal with debts.

petal9

thanks for advice but what do i do about this cifas thing? im going to be registered as a fraudster,please can anyone advise?
xx