What do I do now!?!?!

wannabedebtfree_2

Right, I finally got round to applying for a charges refund, Nationwide sent me an SOA to fill in which I have posted back, but today I got a letter and SOA from NatWest stating that if they deem me to be in 'financial hardship' they will remove all debit card facilities from my account, remove my overdraft, change the account for a different one etc...........basically as long as I can get £230 into it (to cover my OD) I am happy to close the account, should I do this first as I don't want it to go on my credit file if it classes as some sort of default if they mess about with it.................

I don't know what to do!!!! All this for £234 - do they do it to put people off claiming??

natweststaffmember

Ok, I am sure you were tired when you wrote this post but is it Nationwide or NatWest or both?

wannabedebtfree_2

Nationwide just asked me to fill in an SOA, which I have sent back.

Natwest have basically sent an SOA with a letter stating that if I am deemed 'hardship' they will close my current account facilities, cancel all 'non-essential' direct debits, withdraw my debit card and cheque book etc

What I need to know is will this go on my credit file?? I would rather just close the account, but in October/November time my student grant from OU will go into it, so I just don't know what to do........I no longer use the account, its OD at the moment but if I scrape together the £230 its OD and close it then I need to inform the OU that the account has closed.

I have 2 other current accounts so its no big deal, I just don't want them to put something on my credit file saying "Default" or whatever, I don't know how it works if they withdraw all facilities!!

wannabedebtfree_2

anybody know what to do??

natweststaffmember

wannabedebtfree wrote: »

Nationwide just asked me to fill in an SOA, which I have sent back.

Natwest have basically sent an SOA with a letter stating that if I am deemed 'hardship' they will close my current account facilities, cancel all 'non-essential' direct debits, withdraw my debit card and cheque book etc

What I need to know is will this go on my credit file?? I would rather just close the account, but in October/November time my student grant from OU will go into it, so I just don't know what to do........I no longer use the account, its OD at the moment but if I scrape together the £230 its OD and close it then I need to inform the OU that the account has closed.

I have 2 other current accounts so its no big deal, I just don't want them to put something on my credit file saying "Default" or whatever, I don't know how it works if they withdraw all facilities!!

Apologies I missed this yesterday, what they wrote was that they would withdraw the card and cheque book and cancel all non essential Direct Debits and standing Orders. They do not close the account but if they do they would have to offer a basic account(cos that is within the FSA Waiver on Bank Charges).

wannabedebtfree_2

ok, thanks, I just didn't want it to show as a default on my credit file!!!

Perhaps I panicked a little......(ahem)......

natweststaffmember

wannabedebtfree wrote: »

ok, thanks, I just didn't want it to show as a default on my credit file!!!

Perhaps I panicked a little......(ahem)......

Don't worry a lot of people do when they read that kinda letter and yet it is there to be FSA Compliant so some of it may seem scary.... keep us updated.