Repossession Help! Please

del73

Hi my partner has just had a phone call off natwest saying as she is in arrears with both her natwest bank accounts and her credit card they are going to reposes our house, unless she takes out a loan with them to pay off the accounts.
Her mortgage is with natwest but it is paid on time every month The loan is for £6850 repaying £94.95 over 96 months, and she has to accept this offer they have made her straight away.

Can the natwest do this to us? Please help!

iscrimger

They can only reposes your house if the debt is secured against the property. If the mortgage is not in arrears then they have no reason to repossess the property.

For credit cards you are normally charged default fee's etc. Eventually you'll be in breach of the credit agreement and the account will be closed and you will have to pay the outstanding balance - you could end up with the bailiffs at the door for collection of the debt.

I'm not sure how you can be in arrears for your bank account. If your account has an overdraft facility and your still within the agreed limit then there is no problem and you can remain within that limit. If you are over the limit you should attempt to return to the agreed limit - usually the payment of salary will help. If you're income doesn't cover your overdraft then really you should be looking at reducing that limit to something more manageable.

If the bank have withdrawn the overdraft facility they will have told you and that you must bring your account back into balance as soon as possible. Preferably before the withdrawal date.

Personally as you have a mortgage, credit card & bank account with them I'd consider splitting these up. Definitely move your current account to another bank as they could be inclined to use the balance of this account to pay off the outstanding arrears of the debt on your credit card or mortgage.

del73

she has gone over her overdraft limit and stoped using the bank as all the charges were eating all of her wages. So she opened a halifax account and uses that for her salary.
We are intouch with the cccs to try and sort things out, but natwest say she has to take out this new loan to pay off her acconts or they will take the house.

opinions4u

Is your mortgage account up to date? If so they can't repossess.

Do you have any other loans secured against the house? If so, who are they with and are they up to date?

I think I'd ring Nat West, ask to speak to a manager and ask them to clarify in what circumstances they believe they can repossess a house for unpaid unsecured debts.

Whatever the outcome, they need a court order to be able to repossess. They won't get that unless loans secured on the property are in arrears.

Out of interest, why is she not prepared to take the offer of an 8 year loan to deal with this matter? She owes the money and it looks like a reasonable proposal (made in a heavy handed way) to help her out of the current situation.

del73

Hi, she has a asda home loan secured on the property, but it is upto date as with the mortgage.

ineedhelp2008

Personally I would take the offer of the loan, the repayment figure is quite reasonable and then a few years down the line when she is sorted you could pay it off early.

belfastgirl23

I think you need to ask on the debt free wannabe board for help with this, those guys have a load of experience with this sort of thing

Good luck!

happybroker

Natwest are famously heavy handed when it comes to recovering debt. They are within their rights to seek a charging order which will secure the debt to the property and can then look to repo if any arrangement made is not stuck to.

if the offer is on the table for a way out of the mess it has to be worth considering. Natwest don't have to listen to CCCS and in my experience rarely do.

ILW

del73 wrote: »

she has gone over her overdraft limit and stoped using the bank as all the charges were eating all of her wages. So she opened a halifax account and uses that for her salary.

This may well be why they are getting a bit aggressive. This account will just be getting bigger with charges and interest. What has your wife done to address it?

opinions4u

ILW wrote: »

This may well be why they are getting a bit aggressive. This account will just be getting bigger with charges and interest. What has your wife done to address it?

I asked a similar question in post 4.

It seemed to have been missed by the OP, so not answered.

del73

taking out a loan to pay off a debt we cant afford seems a bit silly. If we could afford £100 pm we would just pay that of her debt, but the problem is we dont have an extra £100.

We have checked today with the financial ombudsman, and natwest have no right to use the thretening behavior they did. And can not take the house of us for unsecured debts, unless ccj s have been ignored and agreements have been broken. Even then a judge would have to order the sale of the house