Natwest threats

Rossy.

Hi all,

This is my first post and i'd like to say that it's fantastic to see so many helpful people coming together and passing on extremely detailed responses and advice.. Just reading a few threads has given me some hope so i commend you all

Ok so my dilemma, Basically i have just come into some financial hardship,

My last and final loan payment should have come out on the 8-4-2010 but due to insufficient funds was unable to be paid, I immediately rang the bank on that day and explained the situation im in and tbh was dealt with very reasonably by the woman on the phone, She said the bank will do a small loan for me to consolidate my overdraft, pay my loan payment and give me a £200 buffer until i get paid again, This was fine as my overdraft charges were just shy of the amount they were asking to be paid back each month. I have signed the papers at the bank and they have been sent to the lending team

Every day i have had a call from the loans section demanding payment for my missed loan payment and each time i have referred them to the new agreement being set up which they have all seen and apologised then hung up but yesterday some snotty woman rang regarding the loan payment and when i explained what was being set up from me she turned all militant and blatantly said the bank are not helping me now ? i've had no response from them and i have tried getting answers to no avail.. I can pay this final loan payment but not for at least 8 weeks due to other financial commitments and i have explained this but they are not interested and they are basically saying pay it or we will enforce a CCJ against you.. I'm worried as it's only a few days late and its not as if im not trying to co-operate with them

What should i do?

Mark

Tixy

Hi

So have they approved the new loan (how much was this for by the way?) and how long over?
Has this loan money been paid into your account yet?

If you haven't had the loan and are not going to get it I would
-firstly set up a new basic bank account elsewhere asap. And have your wages moved into that. If your wages are paid into the overdraft again they may well take them and cancel the overdraft, leaving you with nothing or little to live on.
-then I would write to the bank and say you cannot/could not afford the final loan payment that was due (maybe explain why if it a good reason) but that you would like to arrange a repayment plan to pay this over (however long you need, say 2 or 3months).
-what you do ideally need to do is to pay at least a token payment to this loan straight away as this should mean they are less likely to take legal action as you are showing you are willing (just unable) to pay.
-I would also stop talking to them on the phone -when they call refuse to confirm your security details.

Once you have the new bank account set up and your non natwest dds etc moved across you can then set up a standing order to start repaying the overdraft monthly.