Phoned Natwest to settle my loan...

inch_high

...last Saturday (30th Aug) and used the funds in my Natwest Advantage Gold bank account to repay it. I've been on hol till today and have comeback to a letter from Natwest regarding an unpaid Direct Debit on my Step Account. The unpaid item was my mortgage with Halifax.

I use the Step Account for Direct Debits only so I was a little confused as I knew I had the funds in the account. Turns out that my loan hasnt been repaid, and thus, on 1st Sep a Direct Debit for my Natwest loan for £200 was taken out, which I obviously didnt budget for. So now I have had an unpaid Direct Debit and a missed payment on my mortgage, all because Natwest didnt settle my loan when I asked them to.

There's no point in calling today because no doubt they'll say the dept I need to speak to isnt open, so I'll call in the morning.

A few queries before I do :

1) Will the unpaid DD affect my credit score?
2) Will a missed mortgage payment affect my credit score?
3) Where do you think I'll stand when the inevitable happens and the person I speak to says, "There's no notes on your file from Saturday" - because the moron I spoke to probably didnt do anything at all? (I have called Virgin Media already to get some evidence that I made the 10-15min call, but they cant provide it until my bill is produced at the end of the month)

Thanks forumistas!

jonesMUFCforever

I'm surprised that they agreed to pay off a loan with just a telephone conversion.
I take it that the normal loan repayment would have come out of this account so why did you not just transfer money from your Gold a/c to it?

Not many banks will accept instructions like this without it being in writing.

inch_high

The normal loan repayment comes out of the Step Account, the few grand to repay the loan was in the Advantage Gold account. I didnt transfer it into the Step Account because I was on hol and didnt know until today...

Debt_Free_Chick

inch_high wrote: »

1) Will the unpaid DD affect my credit score?

No

2) Will a missed mortgage payment affect my credit score?

Not a single late payment, no. But call the mortgage company and make a payment over the phone, by debit card.

3) Where do you think I'll stand when the inevitable happens and the person I speak to says, "There's no notes on your file from Saturday" - because the moron I spoke to probably didnt do anything at all? (I have called Virgin Media already to get some evidence that I made the 10-15min call, but they cant provide it until my bill is produced at the end of the month)

To be honest, proof of a phone call is still not proof of the instruction you gave. In any event, as the call was made on Saturday, it's likely that nothing could be done until Monday. By then, the DD was probably "in the pipeline".

I'd just work to get things sorted out for now. In particular, you need to make sure that your mortgage instalment is paid as soon as you can.

inch_high

Cheers DFC...

I can sense a good arguement coming tomorrow

Kavanne

inch high, how did you expect that DD to get cancelled so quickly?

even if a loan is settled, if the DD is in the next 7 days, it will go through anyway and then be automatically refunded.

Call on monday, ask to speak to lending. They can deal with: 1) settling the loan and 2) discussing the charges with you, try and make out it was BANK ERROR as that is the only time natwest will just refund a charge.

inch_high

Kavanne wrote: »

inch high, how did you expect that DD to get cancelled so quickly?

even if a loan is settled, if the DD is in the next 7 days, it will go through anyway and then be automatically refunded.

Call on monday, ask to speak to lending. They can deal with: 1) settling the loan and 2) discussing the charges with you, try and make out it was BANK ERROR as that is the only time natwest will just refund a charge.

To be honest in hindsight I would have known that the DD wouldnt be cancelled in time, but completely forgot about it, and the guy on the phone said it was all sorted and the loan was repaid.

Anyway, called this morning, I explianed the situation, there was no huge arguement and they have agreed to refund the unpaid DD fee, I'm going to call Halifax and pay by card now, I think because it was due on the 1st and todays the 8th, it wont show as one months arrears, because its only 7 days.

sammy81_2

natwest do my head in...they are awful