Nasty Natwest

sammy115

I have sent a list of incomings and outgoings to all people owed money to. Goldfish no problem, quite happy to accept lower payments for six months, no interest no charges. Natwest sent me a default notice! When i rang to say that i had written in they said they always issue a default notice if someone sends in a repayment plan.

So much for two way conversation! I don't want a default notice - is this normal practice if you are on a repayment plan? She said they could have offered me lower payments for a couple of months, but because i said I would rather pay than have a default (its true) then I CAN afford to pay.

So I paid! Did i do wrong - what should I have done? My situation is only temporary and I have made significant improvements to my situation in the two months lurking on this board. I have managed to move two of my cc's to 0% and am earning extra to catch up. Along with the money saving ideas on here in six months time I am hoping to be snowballing my debts rather than
being on a repayment plan.

Xbigman

NatWest are correct because you have in fact defaulted on the payments agreed when you borrowed the money. Some creditors do this to stop you going further into debt. Once defaulted you should have stuck to the original offer you made and only upped the payments as and when you could afford too.
If you knew the situation was temporary you could have told them that and asked for a reduced payment. Most companies will accept a bit less and not default you but if you cannot afford the amount they first tell you, then you get defaulted.

It is also a common tactic for creditors to get shirty and tell you things like 'you paid, so you could afford it'. They don't care how you got their payment but you *have* to care.

Review your situation. Come up with a plan to tackle it. You need to be flexible with day to day spending but stick to the overall plan. Don't let one creditor bully you into paying more than you can afford and jeopardize the whole strategy.
Regards



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