Can Mint Card take money directly from my Natwest account?

pencilcase

I've got a serious debt problem and am working out my SOA.

At the moment I've written to my creditors offering them £5 a month payment until that is sorted.


However, I'm really worried because I read (on this board or another one) that a credit card company in the same group as your bank can just 'take' money from your bank account. Is this true? And if so, do they have to give you any written notice, or can they just do it?

My monthly payment to Mint is meant to be £170 and if they start withdrawing this then there's no way I'll also be able to pay for essential items such as rent and electricity.

Yesterday I applied to open what I think is called a 'parachute account' with the Co-op to try and prevent this, but as I'm already overdrawn with Natwest (4K on a 5K overdraft allowance) I won't actually be able to close that account but will have to run both (that and the Co-op one if I get accepted) concurrently.

Any advice on this very much appreciated!

Many thanks

Pencilcase

Miss_Piggy_2

Firstly, opening the coop bank account is an excellent idea. You must use this for everything now - getting any wages etc paid into it and all direct debits etc coming out of it.

Yes, a credit card in the same group as your Bank CAN take payments from your bank account without your say so. So stop your wages going in asap.

You need to speak to the Natwest about your overdraft to see if they can freeze it till you are in a better position, or else you must treat them as a creditor, offering them a token repayment for a while.

Good luck

Miss P
xx

ebsay2000

Ofcourse you could spend or withdraw in cash, the remaining £1000 of the Natwest Overdraft..........

As you are now going to have treat them as a new creditor........... and getting any more credit anywhere else, will be Nigh On Impossible for a long time.......this might be something you want to do??

Remember to go Bankrupt actually costs £500 pounds, and where else are you going to be able get hold of that amount quickly again?


I'm now waiting for my comments to be pounced on by the more 'sensible' people here!

From my own experience...........if i'd know i'd need alot of money to go bankrupt (£350) cos i'm on Income Support.....i'd have 'saved/borrowed' it from one of my credit cards.............As it stands i cant, and even though CAB have advised me to go Bankrupt, theres no way i can, 'cos i dont have the money!

pencilcase

Thanks so much for that - applied online for a Co-op current account yesterday but haven't heard back from them yet (other than a standard acknowledgement).

How likely do you think it is that they'll accept me - I'm not looking for an overdraft or anything, but I do have some default notices against me on my credit cards and am overdrawn with Natwest.

Thanks again for the responses - means so much to speak to people in the same boat!

ElizabethJH

I have really bad credit and get turned down for just about any credit card and I had no problems whatsoever opening up a bank account with Alliance and Leicester if that puts your mind at ease

pencilcase

Thanks Elizabeth (and thanks to everyone else who replied... only just worked out how to do the 'thanks' thing)