Do you have money worries and a loan or credit card with your bank?

notomonkeys

don't take the risk, they've already taken money to offset. If they get the chance they'll do it again, chances are the account is now flagged

KTK1971

Hi, I was successful in reclaiming ppi from Egg - Canada Square, Cheque was paid into my Nationwide account at the weekend, and today they have frozen my bank account. When I called, I was told it was because a large cheque was paid into my account, and they will be using this to repay by credit card in full!! Reading through this thread I see that they are in their rights to do this, but do they have to let me know this is going to happen. I had CSA money going into and now can not access it!

sburns666

hi

can someone please help me

i have two accounts with natwest

one that i use for bills and savings

the other is lying there not getting used but there seems to be charges on the account from december that has built up and built up

they have taken the money out of my main account without me knowing anthing about and letting me know

i have tried phoning them and they say that it was my local branch but i got a letter from the collectios department three days after they done it to tell me they had taken the money out

what can i do as it was a big amount that i cant afford

marybakers

Tsb bank took money from my savings account yesterday to pay off some of my credit card ,even though i am in financial hardship, i wrote to them months ago and told them.

Jamesonlove

Can someone help me ? I have recently completed a switch from Halifax to Santander. I have an arranged overdraft with Halifax for 1500 I rang Halifax to discuss a payment plan the day the switch was completed. The adviser advised me to contact collections in twos days I checked my Halifax to discover to my horror that Halifax had taken 390 out of my account against the overdraft. This was part of my bill money. I rang Santander as throughout the switching process they did not advise me that before the switch I need to clear any overdraft with Halifax before the switch took place and that Halifax would retain any credits that went into the account. Santander have apologised but obviously it is too late now. I have rang and rang Halifax I'm getting passed to switching team then money management then collections who all give conflicted information with how I can set up a payment plan and how to get a refund. I feel like Iam having some sort of break down here as because Santander advised that all my credits would get redirected to Santander I have not had time to redirect my credits and my wages will now go to Halifax which they will keep. As a result I cannot pay my mortgage cradle child care fees food nappies etc. I'm a single parent with two children one a baby and really do not know where to go from here. I don't even know what is happening with my Halifax account whether its closed or not it hasn't even reached collections yet so I cannot even set up a payment plan. I received no warning from Halifax and cannot understand how they can do this Iam so frustrated I have paid a loan off with them and a credit card and they treat me like this. They just take my money so I can't live or pay my bills how do they expect me to feed my children and pay my mortgage the most frustrating part is that after 80.000 pounds of phone calls to them Iam still getting no where. ??????

hutch610

Not sure if i'm right but would assume you would have to clear any overdraft before changing account. Hopefully someone will have correct answer

Carrie1983

Am I at risk of this?

I have a Virgin c/c on 0%, debt sitting at around 5650.

I have a Lloyds TSB c/c which was 17.9% and they tried to get me to close it by saying if I did so by 30th Sept then I could keep that rate, but if not they'd put it up to 22.9%. Going through a divorce, I still had unknown fees to pay, so I kept it, and the rate went up to 22.9%. 3rd October, the bank called and said I should close the card and take their advice and a loan to cover the amount. It seems they are trying one way or another to get the card away from me, which is fine now as I am divorced and want to close the card, but they won't honour the lower interest rate, it has to stay at 22.9% and I don't seem to be eligible for any loans or 0% offers or even many credit cards.

I am up to date on all payments. I had one missed payment in November last year because my husband had just left and I sort of hid away. I could afford the payment, the balance was only £12, but it's on my report anyway. Then I had a vodafone missed payment in May, which was because that contract was dormant and I cancelled the DD, not realising that I had to cancel with them even though I'd reached the end of it and taken a new contract, so that also went on my report. Everything else is up to date and I can afford to keep up with payments.

Am I at risk of Lloyds taking money from my current accounts to pay the credit card, even if I am up to date on payments? Should I move bank accounts asap? My meeting is with the bank tomorrow, so I will be closing the credit card and trying to get the lower interest rate, and could try and change banks at the same time?

Sazzie23

Jamesonlove wrote: »

Can someone help me ? I have recently completed a switch from Halifax to Santander. I have an arranged overdraft with Halifax for 1500 I rang Halifax to discuss a payment plan the day the switch was completed. The adviser advised me to contact collections in twos days I checked my Halifax to discover to my horror that Halifax had taken 390 out of my account against the overdraft. This was part of my bill money. I rang Santander as throughout the switching process they did not advise me that before the switch I need to clear any overdraft with Halifax before the switch took place and that Halifax would retain any credits that went into the account. Santander have apologised but obviously it is too late now. I have rang and rang Halifax I'm getting passed to switching team then money management then collections who all give conflicted information with how I can set up a payment plan and how to get a refund. I feel like Iam having some sort of break down here as because Santander advised that all my credits would get redirected to Santander I have not had time to redirect my credits and my wages will now go to Halifax which they will keep. As a result I cannot pay my mortgage cradle child care fees food nappies etc. I'm a single parent with two children one a baby and really do not know where to go from here. I don't even know what is happening with my Halifax account whether its closed or not it hasn't even reached collections yet so I cannot even set up a payment plan. I received no warning from Halifax and cannot understand how they can do this Iam so frustrated I have paid a loan off with them and a credit card and they treat me like this. They just take my money so I can't live or pay my bills how do they expect me to feed my children and pay my mortgage the most frustrating part is that after 80.000 pounds of phone calls to them Iam still getting no where. ??????

So sorry to hear of this trouble, you must be worried to death.
I think maybe it would help if you started a new thread in this forum so someone can give you advice. The only thing I can think of is to go into your local branch and insist you speak to someone ?

jimmyboy420

Hi,

My girlfriend has some debts with her bank and also a personal account and a business account.

At the moment, she has managed to stay up to date with payments to that bank for her loan, and her minimum credit card payment. But she has been letting other debts spiral out of control.

So, she is thinking of getting together a debt mangement plan.

I understand that before she does this, she needs to move her personal account, so that the right of set off cannot take money from her personal account rather than use her DMP agreement/offer. But what about her business account which is also with the bank? She is self employed so it is under her name. Can they apply the right of set off to that?

She is with HSBC.

Thanks

James

Slipper1

Interesting thread but with so many pages, I haven't been able to read them all. Someone there may be able to answer a simple question though.

NatWest recently wrote advising that they retained the right to set off credit balances in any account against debit balances in any other account.

I'm closing our limited company and although the bank accounts are at zero balance, the credit card is at around £2,300 debit.

My personal and sole trader accounts are all in credit.

Question is; can the bank take money from my personal or sole trader accounts to clear the debt on the limited company credit card?

Thanks in advance.