desperate help concerning my natwest bank account :(

Keithh500

Hello i got a student overdraft when i was a student 2 years ago and got a £1250 student overdraft which I spent,

I didnt pay make a payment back within 3 months so they phoned me up demanding really rudely to get money from me, so I paid £100 over the phone and that was fine, over the next few months I put in a few more payments but now I have slipped over the 3 month thing again and they are on the phone again saying ive been put through to collections.

The man is really rude on the phone and is saying I have to pay £500 today, I even said I could afford to pay £50 per week and that ive just set up online banking so I can do it every month without going all the way to town to deposit some (which is why I barely paid before) but that isnt ok for him and he wants £500 today!

I cant afford to do that, last year I paid only £100 even though they wanted £400 but when I said that to him he said because its the second time they have to have £500 today!

What can I do, I panicked and said I need some time to think about it and he is phoning me back in a few hours.

Ive never used a credit card before and he wants me to use my £500 credit card money to pay.

Please help!!!!!!!!!!!!!!

KingElvis

Don't be bullied, tell him you can only pay what you have and to either like that or lump it.

Is that account already in default? do you have another account at a bank with no connections to Natwest?

Keithh500

Hello im not sure what you mean by default?

Yes I have a HSBC account where I keep all my money.

Im very very worried

marklee

"Collections" may well be a private company that Nat West has sold your debt to, and they may be unlikely to make a deal. Call Nat West directly and discuss with them.

I have to say though, judging by the way that you have handled this so far, it will be an uphill struggle. Not paying because of the "effort" of going into town is unlikely to be a valid reason in their eyes, unless you have a disability and have previously explained this to them.

Keithh500

Well last year when collections had my account they only took £100 and even reduced my debt by £100 on top of that for some reason! No idea why.

I said I have enough income to pay £50 a month into my natwest account but this was not ok for him, he said £500 today and then you can pay as little as £30 a month etc etc.

But the guy last year said even £5 a month was fine, just make sure to pay a payment within 3 months.

Im really not sure what to do. But the guy on the phone sounds really really mean!

Im no longer a student but they still had my details as a student does that make any difference.

KingElvis

Keithh500 wrote: »

Hello im not sure what you mean by default?

Yes I have a HSBC account where I keep all my money.

Im very very worried

The Natwest overdraft, have you offically been defaulted on it? I would imagine you have becuase of the collections business.

If so, you are free to offer them what you can afford on a regular basis. If they take you to court you'd be expected to back that offer up with a full and honest statement of your finances.

There may be some tactics you can use, send them the Prove It letter for a start.

Keithh500

Also I havent recieved a single letter to tell me to make a payment or ask for a payment until I got the letter saying I need to contact Natwest (collections division) and then pay £500

Surely a reminder isnt much to ask!

Keithh500

What is the prove it letter?

Im really scared, im only 20 lol I dont want to be taken to court or anything?

I know i should of paid some money back more regularly but I have just set up online banking yesterday so I could do it without having to go to the bank (I dont drive) and there not even willing to accept £50 per week.

Is the £500 today just something they do as some people will pay it or is it 100%

KingElvis

Keithh500 wrote: »

What is the prove it letter?

Im really scared, im only 20 lol I dont want to be taken to court or anything?

I know i should of paid some money back more regularly but I have just set up online banking yesterday so I could do it without having to go to the bank (I dont drive) and there not even willing to accept £50 per week.

Is the £500 today just something they do as some people will pay it or is it 100%

Nah, it's just them trying to scare you into paying, that's their job.

Keithh500

Ive decided just to be frank with them I think. The letter they sent me said there worried etc. about me not paying anything back and want to know if my circumstances have changed.

So I will phone up and declare those details, my circumstances havent changed, I apologise for not paying back more regularly but I am going to set up online banking so I can pay £50 per month. Thats the details you wanted to know, I didnt recieve any letter from you telling me I should pay anything back, and in your only letter you have sent you have not mentioned anything about paying back £500 in one go. I cant pay anything today as I do not want to use my credit card. I shall set up my online banking once I have my details through the post from Natwest and then I will make my first payment of £50 into that account, and declare it to be taken away and be minused from my overdraft. Thats really all I can do im afraid.

Does that sound like a good thing to say?

loubel

If you dropped out of uni and didn't tell them then you were in breach of your account terms then that'll be why they have called in the loan. I think your best bet would be to make an appointment to see the bank manager and discuss your options with them to clear the debt.