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RBS Overdraft - Need advice
cholding_2
Posts: 3 Newbie
Hi, I had an RBS Route 21 account which was registered to the address I was living at whilst at uni in Sheffield. I left this address at the beginning of October 2005, however I forgot to change the address to my new one, although to the best of my knowledge I had left the account in credit. After I left this address I have had no correspondence with RBS at all.
Skip to a month ago, I received a letter for Regal Debt Consultants stating that I owed £600 on the account. I requested all my statements on the account and they show that when I left the address I was £4.54 in credit, but on the 30th October I was charged £10 for being overdrawn the previous month. These charges have snowballed at £10 per month plus interest until RBS finally closed the account in October 2008, with £600.71 outstanding on the account.
Do I have any grounds for complaint? Obviously I am to blame for not changing the address on the account, however why did it take RBS 3 years to close an account that had no activity on it? I also bank with Natwest, surely being the same bank RBS could've tracked me down sooner and made me aware that I owed them money.
Is the anything I can do or am I resigned to paying the entire £600?
Skip to a month ago, I received a letter for Regal Debt Consultants stating that I owed £600 on the account. I requested all my statements on the account and they show that when I left the address I was £4.54 in credit, but on the 30th October I was charged £10 for being overdrawn the previous month. These charges have snowballed at £10 per month plus interest until RBS finally closed the account in October 2008, with £600.71 outstanding on the account.
Do I have any grounds for complaint? Obviously I am to blame for not changing the address on the account, however why did it take RBS 3 years to close an account that had no activity on it? I also bank with Natwest, surely being the same bank RBS could've tracked me down sooner and made me aware that I owed them money.
Is the anything I can do or am I resigned to paying the entire £600?
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Comments
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Firstly, get in touch with RBS to discuss the matter. You may be able to negotiate a settlement.
If this fails then your only recourse is to their complaints procedure. Once you have received their final response to your complaint you have the option to refer it to the Financial Ombusman Service.
I suggest you read this sites Reclaims page before doing anything else so that you understand the process.
Hope this helps.
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Edit:
Sorry, I missed the point that the debt has been passed to a debt collection agency. In these circumstances you will probably have to negotiate with them. I regret that I am not sure how the bank's complaints procedure would help in this case.
Sorry for the misleading info above.
.
Warning: In the kingdom of the blind, the one-eyed man is king.
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Not one of my better days on here, I'm afraid.
.Warning: In the kingdom of the blind, the one-eyed man is king.
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