Missed loan payment

Waynee_2

Thats the thing im not introuble, just at the time i missed the payment i hadnt been to the bank to pay money in for a week or so as i was waaaay to busy with work, theres nearly allways a few 1000 in my account, this is why it is so anoying that they have ruined my credit file.

So what your saying is, it is not down to the bank to contact me in any shape or form if i miss a payment?

it was a 5 year loan (2 months to go) i had missed 2 payments the whole time, its not like i was missing payments all the time

clairbear1000

I expect they are within their rights to put late payment markers on, but I would dispute why they didn't contact you and ask for debit card payment and why they let it go for so long each time. I'm not sure that they would automatically take double the next month because of informaing you about the DD.

I assume the bank have your correct address, it is up to you to check your bank statement each month, or via online banking and it's your responsibility to have funds available.

You need to call them and ask, and see what they say, if you don't ask, you don't get, so see if they can explain what they have done and if they can rectify it at least partially.

Emmzi

the bank do contact you to say you have missed a payment.


ON YOUR BANK STATEMENT.

Waynee_2

Clairbear1000 yes my address details is up to date with them, looking back at my statment 2 other DD,s came out 2 days earlyer then normall or there would of been enough funds to cover the loan DD. I would say yes it is upto me to check my statment each month, but that month i didnt so it got overlooked, my argument is why did the bank leave it so long the first time (6 months) then not bother to inform me and just take the payment.
Then this time 11 months go by and they dont take the payment even though there has been times where theres been £8000 in there and never less the £2000 and why didnt they take the payment after 6 months like they did before. Why dont they just point it out when you go into the bank, its takes a simple bit of code in there computer to send you a letter to say you have missed a payment, but i forgot they dont want to lend money these days so if they ruin your credit file for you then you cant have any credit anyway!!!!!!!.

Emmzi, firstly no need to shout. Do you work for Natwest? and also like many others i dont read all my statments, maybe i should but i dont, i would think if i missed somthing then the company i missed the payment would soon let me know and i would also think 1 missed payment wouldnt totaly runin my credit rating as its a bit unfair to mark 11 late payments for 1 missed payment.

Beast

Unfortunately, with all due respect, you're still viewing this as a blame shifting exercise. The bottom line is you failed to make payment - it was a mistake, you're only human. However we still need to come back to the original point that it is not the lender's job to manage your finances for you, thats something only you can take control of and in this case you should have been more on the ball in checking that payments had been made and funds were available at the appropriate times.

Waynee_2

ok yeah i know its my fault up to a point all i am saying is like you say i am only human, i didnt look at my statment, but a letter to say the payment didnt come out would of been nice, after all i can now see they took £38 in charges for the late payment so that should easy cover the cost of sending a letter out to me or reminding me when i go into the bank?.
I did speak to a manager earlyer today and she said since july 09 it is the banks policy to inform the customer but as my payment was 4th of july that she wasnt sure of the date when the policy came into effect, even so as i made a payment the following month and every month after that, they should of seen it in august and every month after that there was a late payment and inform me?.

Ok lets say you forget to leave your milkman his money one week, then again the following week, how long will it go on before he informs you that you have missed the payments?, yes its only a milkman but its still a service, i dont know any other service that would not inform you that you have missed a payment, and also as i had something like 20 other DD for other things every month its so easy to over look that 1 thing didnt come out.

Has anyone missed a payment with a Natwest loan but been informed by Natwest about the late payment?

immoral_angeluk

Generally in my experience they don't start sending letters/making calls until 2-3 payments have been missed, as it shows a recurring problem rather than a simple case of human error.
You can't blame the bank for ruining your credit file as if you'd have caught up with the payments when you knew you'd missed a payment then it wouldn't have gotten to the scale it has.

Waynee_2

lol this is what i am saying, i didnt know i had missed a payment untill last week, but thats 11 months too late.
Why cant the banks at least put on the statments that theres a missed payment? simple, rather then put nothing at all, then 1 month later they put a charge with no Ref: as to what the charge is for, when could have put "Charge for non payment of loan" ?. it would be easy to spot that you missed a payment if they put on the statement (missed loan payment)? and it cost them nothing.
So my argument is, if the bank would have given me a indicator that i had missed a payment then it would have never had gone 11 months. As i said there has been plenty of money in my acounts since that date to easy cover the missed payment.
Lets get somthing straight here 1 missed payment has made me look like i have been struggling to cover my bills for 11 months when infact i have been prety well off, and every single bill i have had has been payed, including my loan, apart from the "1" missed payment. So now i look like a non paying poor person for 11 months in the eyes of the land of credit, all because of Natwest. Lets get somthing else straight, the banks are a business they offer services, they should help the "paying" customer when they make a genuine mistake.

immoral_angeluk

Waynee wrote: »

lol this is what i am saying, i didnt know i had missed a payment untill last week, but thats 11 months too late.
Why cant the banks at least put on the statments that theres a missed payment? simple, rather then put nothing at all, then 1 month later they put a charge with no Ref: as to what the charge is for, when could have put "Charge for non payment of loan" ?. it would be easy to spot that you missed a payment if they put on the statement (missed loan payment)? and it cost them nothing.
So my argument is, if the bank would have given me a indicator that i had missed a payment then it would have never had gone 11 months. As i said there has been plenty of money in my acounts since that date to easy cover the missed payment.
Lets get somthing straight here 1 missed payment has made me look like i have been struggling to cover my bills for 11 months when infact i have been prety well off, and every single bill i have had has been payed, including my loan, apart from the "1" missed payment. So now i look like a non paying poor person for 11 months in the eyes of the land of credit, all because of Natwest. Lets get somthing else straight, the banks are a business they offer services, they should help the "paying" customer when they make a genuine mistake.

You don't check your bank statements to make sure everything's been paid as you expected?
If, as you say it wasn't on the statements and you received no contact then you *may* have a case to complain and get them to amend your credit file via an official complaint, but I've a feeling they'll probably turn round and say it's your responsibility to ensure your payments are made and to regularly check them.

If you don't regularly check your banking then now may be a good time to start, even if hindsight is a wonderful thing.

Waynee_2

when i had missed a payment before (in 2006) it says on my statement (unpaid item Loan Account) for the charge, but this time it just says charge unpaid item, perhaps ifit said unpaid Loan account then i would of spotted it.
I wouldnt mind ifit was 1 -2 months of late payments then the bank made contact to say your missing a payment, but 11 months and still no contact is a bit bad on there behalf.