Natwest Bank Charges!

toni813

Hi Everyone,

I just received an email last weekend from my bank (NATWEST) saying that they were trying to get in touch with me for the past few days. I got a letter from them as well saying that I accrued more than £300 on my bank charges. When I called today, a lady from the Collections Dept spoke to me and said that they have actually lowered my bank charges from £30 to £20 per unsuccessful direct debit transaction. I explained to her that I was out of job since last June 2009. I also asked her to cancel all my direct debit but she said I need to speak with the company I set up my direct debit with so they will not try to do another transaction. I also told her to cancel all the upgrade facility they have offered to me since I never used any of them. (one charges me £6.25 per month)

She also told me that I need to go to the nearest Citizen's Advice Bureau for further advice and they are giving me 28 days from today to sort things out otherwise they will pass my account to a debt collection agency.

My questions are: I thought since I am the bank account holder I have the sole right to cancel all my direct debit transactions? I am out of job until now, can they reinforce any payment on me since I can not claim any Jobseeker's Allowance because I am not yet qualified to claim any goverment benefits (I only got a 2 year initial permit to abode visa which is due to renew for a Permanent Resident Visa next year).

I hope to get some light into this mess. Your inputs are greatly appreciated! Thank you

Tixy

Hi and welcome

Firstly set up a new basic bank account with a bank you owe no money to. Then arrange for you benefits to be paid into that account.

You are entitled to cancel your DDs (although it is usually advised to warn the creditors).

Then you can write to natwest with a monthly repayment offer and ask them to freeze interest & charges - as you are on benefits £5 per month would be fine, even £1 per month is sufficent.

You can send similar letters to any other creditors whilst you get advice from one of these guys - http://www.moneysavingexpert.com/loans/debt-help-plan#help

toni813

Hi there,

Thank you for your reply and yes I have set up an account with another bank. As for the benefits, I am not entitled to any government benefits yet until I renew my visa which is due next year. As I said earlier NATWEST is giving me 28 days before they hand over my account to a debt collection agency, is that a common practice here in UK what if I cant find work yet after they endorsed my account to a collection agency, what would be the next step?

I do appreciate your inputs. xx

gfplux

Yes this is common practice. They also mean it.
It is a shame you only found this out when the Bank called. Did you not know since June that money was only going out of the account and non going in?

toni813

Hi,

Yes I am aware that since June there would be no money coming in since I was out of work. But I was too trusting that the bank doesnt charge me much until I called and received that letter stating how much I owe them. I know its too late to say "I should have done this or that". Lesson learned in a hard way I guess