NatWest won't release my funds...

JMV

I am just wondering if anyone else has had this problem and whether anyone has any suggestions as to what to do...

I was granted my BR on 18th November and a clerk in my OR's office said they would not be interested in the funds in my personal and business accounts...

Spoke to OR on 19th Nov....who told me her clerk had written to the bank to ask them to release the funds to me...

Phoned the bank last week and they claimed they still hadn't received the letter...

emailed the OR asking her to write to them again - got no response so phoned today...they asked if I might be able to get a fax number from NatWest and they would fax a letter...

Phoned NW who said they won't accept Fax but they HAD received the letter but it doesn't say anything about releasing the funds - just says that I need them for daily living expenses!!!

OR is away but her office said they sent the standard letter that they always send and they aren't able to change the wording without express permission from the legal dept...

I'd quite like my £800 to pay my rent and buy food

Two4Tuesday

I am surprised that the OR would not be interested in £800 that you had in your account? Was it there before your bankruptcy order was made or deposited shortly afterwards? If it was there before, I might understand why Natwest might decide to keep it (to offset against other debts you might have with them) but if it was deposited later then I think they would have to release it.

JMV

Well...it's just short of £800 but I don't owe NatWest anything...

The accounts were opened a year ago when I realised my (then) bank might offset from my Business a/c to my Currant a/c (which was O/D)...

They just keep saying that the way the letter is worded doesn't suggest to them that the OR wants them to release the funds...

Does anyone know anything about the letter the OR writes to banks in these circumstances - and has anyone had their funds released and NOT had any trouble?

JCS1

It's a standard letter, the system is (or certainly was before the upgrade) set up to do big mail merges putting your details into the letter.

There's normally a paragraph which says we understand approx £x amount in the account, and as long as this doesn't vary by £200 ok to release (and if more than £200 to contact the OR).

now

The Or can let you keep the funds if they think you need them for everyday living, not sure why the Natwest would hold the funds if you owe thenm nothing and have been told to let you have your money

now

Also if you did owe them money they can't just keep your funds because it is up to the OR to decide who gets what

debtinfo

now wrote: »

Also if you did owe them money they can't just keep your funds because it is up to the OR to decide who gets what

Actually they can, its called a right of set off. But that not the point here.

To the OP, ask natwest for a contact name and phone number and try and get the examiner to ring them or visa versa, if the examiner wont ask to speak to their manager

now

debtinfo wrote: »

Actually they can, its called a right of set off. But that not the point here.

To the OP, ask natwest for a contact name and phone number and try and get the examiner to ring them or visa versa, if the examiner wont ask to speak to their manager

I forgot about the right of set off but thought if you were BR they could not use that ruling. Sorry not meaning to get of track from the OP

dojoman

now wrote: »

I forgot about the right of set off but thought if you were BR they could not use that ruling. Sorry not meaning to get of track from the OP

If the account was opened pre BR, then they can unfortunately.

JMV

Thank you for all the imput guys....

Spoke to Case Manager today and apparently the OR wrote to NW on Monday making it clear they need to release the funds to me...

I'm surprised there aren't more people whose OR wasn't interested in the small amounts they had in a bank account...maybe I was lucky or it's down to the enormity of my debt...

I would have thought that the right to Off Set might be limited by Bankruptcy - my assumption would have been that the money would need to be used as part of the 'estate' - oh! but then if OR says she's got no interest in it then Nat West could use it as part payment on there own debt??? I dunno, doesn't seem very fair on other creditiors....anyway, Nat West are one of the few I DON'T owe money to...so it's academic

Thanks again everyone...

now

dojoman wrote: »

If the account was opened pre BR, then they can unfortunately.

You been hiding? Thank you for clearing it up