Nat West Can they do this?

beautiful_chaos

Really sorry for jumping straight in and this is prob in the wrong place, so apologies, but need some advice about nat west!

We had a account with them and a overdraft limit of 350, we were annoyingly living in that limit, until my husband lost his job last august, his last wage pack we removed from the bank, and placed it else were, cancelled all DD's etc,
to try and level out our income and outgoings till we knew what would happen re benefits/job wise etc!
We left the account at 350, and tbh with so much other stuff going on about we forgot about it,
In jan we recieved a letter from natwest stating we had gone over the overdraft limit and had recieved a small charge because of this, puzzled I looked and saw the account was over drawn by 535, turns out I had missed a DD somehow and it had kinda built up with small monthly charges! Ok,
So I call natwest, and explain and they said because it had been less then 6 months since the termination of husbands employment, they could freeze the charges, and sort out a repayment plan with them,
Currently on JSA we offer the best we could of 20 a month, they said we needed to do a income and expenditure form, they would send us out a pack,
On waiting for this pack, we had couple other letters, kept in touch with them etc,
then this morning we recive a letter stating we are now being charged 6 per day for each day we are in the unarranged overdraft,
I call them up and ask them WTH! to be told this is a new rule as of feb,

I say sooo we owe 350 fair enough, you added 185 for charges and now your adding 6 a day on top , roughly 170 on top per month, which is a lot of money for people who currently don't have that sort of money,
I asked when would this 6 stop, to be tld when the debt is clear!!

Ok get this if we are paying 20 a month for roughly 26 months,
your on top of that wanting a total of 4 thousand in charges? are you taking the mic?
All she kept saying though was I needed to do the income and expenditure form!! Yea I will when you blinking send it to me!!!

I hate dealing with companies direct, give me a debt company anyday!!! Im looking at trying to sell my car so I can clear the 535 straight, but only just advertised it so may take a bit time, until then I am stuck with 6 pound a day we cant afford,

are nat west able to do this?
we do have other debts and all have been great, there has to be one !!!!

Tixy

H

Even if they don't send you the IE form then I would ensure you are still making the £20 payments each month. You could write in with your own I&E to show you are paying what you can afford. I would also include in this letter a request for them to freeze interest & charges on the account. You may well find that once your repayments have commenced they will stop the charges.
You might want to use this template letter as a starting point.

Dear Sir/Madam

Re Account No/Reference No:- 4563210025897412

Since making that above agreement with you, our circumstances have changed. We cannot now afford to agreed monthly payments because ... [your paragraph added here] We enclose a Personal Budget sheet which shows our total income from all sources, and our outgoings. As you can see we have only £_____ per month left for our creditors.

The offers we have made to our creditors have worked out on a pro-rata basis, and we have written to all our creditors asking them to accept reduced payments.

In view of our circumstances, please would you agree to accept a reduced offer of £_____ per month. If interest or other charges are being added to the account we would be grateful if you would freeze these so that all payments made will reduce what I owe you.

Should our circumstances improve we will contact you again.

We would be grateful if you would send a [paying-in book] [standing order form] to make it easier to pay you.

Thank you for your assistance. We look forward to hearing from you as soon as possible.

Yours faithfully

Mr A N Other