Missold a credit card

toongirl_2

Hi,

I was wondering if anyone could here help me.

When I was eighteen (I'm 25 now) I applied for a student account at my Natwest branch before I joined University.
The account was a package which came with a student credit card.

I was never asked if I wanted a credit card or not, just 'would I like a mastercard or visa'. I was never asked about where my finance was coming from or if I had a job (which I didn't or ever had at that point). It was just part of the 'student account'. My limit was £500.

I went to University but had to give up after six months due to ill health. At the same time my credit card limit was put up to £1000 by the bank. Being that I was undemployed it became my only source of income until I got incapacity benefit.

I've been off ill, trying to recover from my illness ever since. My credit card was put up again to £2000 by the bank.
I get incapacity benefit but can only ever afford to pay off the minimum payment (this has been going on for three years) and my credit card remains at £2000.
My credit rating is poor becuase I've paid late many times, just because I couldn't afford the payments.

My sister is now at university. I was shocked to find that she was not allowed a credit card by the same bank because she was not working and had no way of paying off any credit.

I feel like I should never have been given this card in the first place. I was barely eighteen, had no working record and no job at the time of getting the card. I'm now still struggling to pay it off.

Would I have a case of getting the debt cancelled. Do I write to the credit card company address?

Any advice would be welcomed!

Thanks

Em.

DJ1UK

No I doubt you'll have any chance getting the debt cancelled. Although you may think that the card was missold - they did not make you spend on it, so you will be responsible for any debt.

If you are having trouble making minimum payments you need to notify the card company - who will be able to advise you how to proceed.

Hope that helps

DJ

Quincy_3

Have a look at the contract you signed with the bank, or ask for a copy with your signature and Im 100% sure that will tell you that you understood what you were doing at the time.

You could see if http://www.cccs.co.uk/ or http://www.payplan.com/ can help.

Astaroth

If you didnt want the credit card then why didnt you say no to both when they asked if it was visa or mastercard that you wanted?

I also banked with Natwest when I was at uni and I was probably there the year before you. I know when I applied I specifically chose to apply for an account which gave me a current account and credit card. I did tell them about my income and such as it was all on the application form which covered off both the accounts.

Whilst I am sorry for your ill health you do need to take responsibility for your own actions and not try to find a scape goat.

The_Boss

No offence, but you cant use this to offset the fact that you have spent on the card.

Missold usually involves something happening to your detriment directly as a result of someone else's actions. In this case, the solution would have been to cancel the card there and then - therefore no detriment - not for you to max it out and then claim the detriment. In retrospect, its all well and good saying they shouldnt have issued the card, but its down to you.

I applied for the NatWest student account in December 1997 and was given a credit card with a £500 limit. I was definitely asked if I wanted a card with it. I had been working part time for 3 months and I was approved. So it seems its something they will do to facilitate student life.

beanielou

Sorry , but I also agree wth the other posters & dont think you have any chance.
I have CP but also have to repay my debts as well.

kuohu

Sorry to hear about your illness but I wouldn't expect you have any chance at all of having the debt wiped off.

If you are struggling to pay it then I would advise speaking to the bank and seeing what they can do for you. (Mind you, they'll probably try to sell you a consolidation loan which may not be what you need). If things are bad you can also speak to the CAB or CCCS and Payplan, as Quincy said above.

An ideal solution would be to apply for a 0% card and balance transfer the debt to the new card - at least this would give you some freedom from interest for a while and help you to start getting the balance down. But you say you have bad credit so maybe this isn't an option, I don't know.

I'd also advise going over to the debt free wannabe board as the folk on there are great at advising people how best to budget and get debts down. They have helped me a lot and it can really help to sort things out.

Good luck.