Natwest Overdraft hell - help please!!

cardiffian83

hi guys - still looking for some advise if possible

cardiffian83

Update -

Natwest have now realised their mistake in handling the account and have agreed to drop the interest rate to 2.5%. They have also backdated this to September when it was agreed.This means that for every £75 we pay per month, approx £65 will go towards to debt and not just to cover their ridiculous charges!

In the first 5 months of the agreed payments plan, even though we were paying £50 a month, the debt was still increasing due to their £80 a month charges. It’s ridiculous that Natwest could not take a step back and see we were actually trying to get ourselves out of this mess!!

The only problem now is that they have transferred the debt to a company called Triton. It seems like we are back to the start again though as they are now chasing ME for payment. I have phoned them and explained that I am on an IVA and that Natwest should have informed them of this and I requested they did not contact me any further regarding the matter.

They advised that once the 6 month payment plan @ £75 a month runs out they will be looking for a significant increase in payment. Can they do this as we are struggling like mad to pay the £75 a month now?

Chick2organise

Hi there, I had an overdraft with Natwest a couple of years ago which I was unable to pay and they kept charging huge amounts of interest on including late charges. I had received my bank charges but stupidly spent them instead o paying off the overdraft - bad time even though its not much better at the moment.

I received numerous phone calls from Natwest on a daily basis and were scared to open post. In the end I did speak to a gentleman in their debt recovery section who was extremely helpful and they offered me a loan on the basis that that cleared the overdraft and they took the overdraft away.

The rate is alot higher than their other loans however its specially for people who can not get credit like myself.

Maybe contact their debt recovery office - i know this was the last result for me, and its helped me so much as its a direct debit which comes out monthly and i have ensured ive kept to the payments.

For £1500 over 2 years with no ppi i pay £79.45 a month, i think they even took some of the charges i had incurred off to help me.

good luck and i hope it works out!!

cardiffian83

I'm literally just going to see how it goes for a few months. its taken so long to get to this stage that i think i'm just going to be content unless something goes wrong.....AGAIN!!

ps - when i advised Triton that i was on an IVA they said i had to phone Natwest and tell them to send the details over!! i explained that since they were the ones who obtained the debt, that surely they should have got all their facts before sending out a demanding letter to me. i was then told that Triton cannot make outgoing calls?!?!?! sound like a bunch of Cowboys.


fair play though - Natwest are absolute muppets.