Help Don't Know Where To Start

foxgloves

Just wanted to add that since we've had our joint account with the Co-op Bank, the customer service has been really good. i.e I made a bad error with an electronic transfer of money recently and it ended up going into a complete stranger's bank account. By the time I realised something bad had happened and rang them, they had already discovered the problem, talked to the other person & had started putting it right. Have also noticed that they send bank statements out more regularly than our last bank which also helps keep on top of things, tho' we mostly do internet banking. Based on our experience, we recommend them. Also, unlike when we were with Lloyds TSB and HSBC, they don't seem to bombard you on a weekly basis with offers of loans and more credit cards which has got to be a good thing to all of us on here!

GeorgieFTB

baxter111 wrote: »

Ok - Just got off the phone from Natwest!

They were really really helpful.

They have offered to consolidate my loan & current account into one payment.

They have offered 1 & 2year re-payments, either £222.03 for 2years or £423.44 over 1year.

Just need to speak to my partner now and work out what is best.

Good news i think!!

Well done you!!!

Just remember to read the small print before you sign anything... might as well start the whole MSE way of life now...

One thing you will have to be cautious about is what other debts you have and how much they might want (or need if they are high interest), don't be too quick to sign until you know what is going on with the rest of your debt...

Gx

baxter111

I know i am really chuffed! :beer:

I don't really have any other debts, luckily! :-)

I just need to sit down with my partner tonight and work out a few things.

Cheers,

Scott

Learning2Budget

how'd u get on?x

suzitiger

Hi Baxter111, I am also a newbie, and congrats for coming on here..its taken me such a long time to be brave too. Good luck when you speak to natwest.
I may have some advice about speaking to them which could help. Some banks will be willing to set up payment plans with you that are similar to a credit card. What you do is move the overdraft debt to a seperate account and set up a direct debit to pay it off slowly from your normal bank account. I'm pretty sure you can do this for the whole debt or just part of it. i think they still charge interest on this, and I've never done it myself, but my parents did this and i think it worked well for them. i don't know the details of it I'm afraid as my mum is SO stubborn about talkjing about money. Probably where i get my problem from partly lol hope that helps a bit.

suzitiger

Argyh, sorry i didn't see pg2 of this thread, sound like what you are doing is what I was talking about sorry that my post was repeating what ur doing. i'm still getting used to this forum thing!

baxter111

Hi Guys,

Just a quick post update for you guys.

It is now the beginning of October and I still haven't seen anything in the post regarding my consolidation loan other than more threatening letters and another letter saying they are going to be closing my accounts the the 21st of October.

After getting off the phone back on the 30/07/11 when they promised me to receive my paper work within the next 2 months nothing was recieved, I then chased them up regarding this at the beginning of August to hear a lady on the end of the phone saying they haven't heard from me and nothing has been processed.... :-(!

I then went through everything again with the lady on the phone, she put me on hold for a minute to speak to her manager to see if it would be possible for me to get £100 knocked off the total balance because of the trouble I have been having, she said as it was Friday at 16:30 her manager had gone home and she would need to call me back on the Monday - I asked her to call me between 12 - 1 as that is my dinner time. 12 - 1 went and I received no phone call until around 3pm when unfortunately i couldn't answer the phone, I tired to call her back at 5pm but they finish work at 5. (Not very helpful for people who work 9 - 5).

The next day I tried to call again and spoke to a horrible man who said that I couldn't speak to the lady I have previously spoken to and I needed to do all the assessment again - I said i didn't want to and to make sure that either of the 2 ladies called be back today, 5pm went and there was no phone call.

I have now called on numerous occasions to speak about my account but no-one seems to help me - I have now received a letter saying that they will be closing my accounts down and asking for the full repayment of my debt to be paid and that any accounts that are in credit this will be helped to clear my debt.

I felt this was very unfair as i haven't buried my head in the sand like before I have been trying and trying to contact them but haven't succeeded.

I have now written a letter to my local bank account manager and also let the financial ombudsman know of my situation and they have been in contact with them - I have only received a letter stating that they are sorry for the delay and that they are looking into my account.

Just thought I would let you know where I am up to with my situation.

One other thing that I think is a joke is the fact that they give you an 0845 number to call, this doesn't help people who are already struggling with their current financial state.

Any thoughts on this would be great.

Thanks

Scott

baxter111

quick bump :j

DizzyDizzy

baxter111 wrote: »

I have now called on numerous occasions to speak about my account but no-one seems to help me - I have now received a letter saying that they will be closing my accounts down and asking for the full repayment of my debt to be paid and that any accounts that are in credit this will be helped to clear my debt.

Unfortuantly (sp) Natwest are not very good at communicating internally, the only thing I can suggest is being persistant

Have you opened your other bank account yet? Natwest will freeze this account shortly. They did this to me as soon as I started my DMP.

When you get your letter asking for the full amount I would write back to their collections dept and state that you were offere consolidation. Then tell them you are prepared to pay back xxx (whatever the amout you quoted was, sorry I've forgotton) in a straight repayment plan. You should also ask them to freeze all interest being accumulated on these debts.

With your consolidation, were you going to have to pay interest? If they agree to freeze the interest (they may not, they're not obliged too) you may be better off doing it this way anyway.

Hope this helps. I have long experience battling Natwest lol!