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Can't pay loan this month - advice needed!
spurs501_2
Posts: 133 Forumite
Hi Everyone, first time here!
Basically I have an unsecured loan with natwest (who I also have my current account with) and this month my direct debit was returned unpaid due to unsufficient funds in my account. My question is this... Will they try to claim the amount again this month? (there still wont be the funds available) or will they try to claim double payment next month? (prob wont be enough to cover this either, what with christmas just past). Am I better off contacting the bank and asking if they can add the amount to the end of the loan (is this possible?). I also have my mortgage with Natwest. Will they be sympathetic? I have already been charged £38.00 for the returned payment. Any advice from your experience would be greatly appreciated. Oh yes, even though my account has very little in it by the end of each month this is the first time the loan dd has been returned.
Basically I have an unsecured loan with natwest (who I also have my current account with) and this month my direct debit was returned unpaid due to unsufficient funds in my account. My question is this... Will they try to claim the amount again this month? (there still wont be the funds available) or will they try to claim double payment next month? (prob wont be enough to cover this either, what with christmas just past). Am I better off contacting the bank and asking if they can add the amount to the end of the loan (is this possible?). I also have my mortgage with Natwest. Will they be sympathetic? I have already been charged £38.00 for the returned payment. Any advice from your experience would be greatly appreciated. Oh yes, even though my account has very little in it by the end of each month this is the first time the loan dd has been returned.
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Comments
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Hi, I'm not entirely sure but I didn't want to read and run as there's probably not many of us still here this time of night.
I think they will probably try to claim the amount again but don't take my word for it. If I were you I'd ring them and explain- they will definitely be more sympathetic if you do that rather than just let the payment bounce. It's not usually possible to add to a loan but would NW let you have an authorised overdraft to deal with this as a one-off?Debt at highest May 2006: £27,472.24
currently: £13,353.25DFW Nerd 178Proud to be dealing with my debts0 -
I am here, but im quite (ok, very) drunk
I have had previous dealings with natwest and founf them to be most unhelpful. They WILL try to take the loan again, they WONT (IMHO) add it to the loan, and as for the O/D not sure- maybe i suppose. No Longer works for MBNA as of August 2010 - redundancy money will be nice though.
Proud to be a Friend of Niddy.
no idea what my nerdnumber is - i am now officially nerd 229, no idea on my debt free date0 -
Give them a call - by you making the first move you may just find that they are more sympathetic. Plus, you know where you stand without having to guess.
If it is the first time that it has been returned, then you will hopefully find that they are more happy to help than if it was a regular occurrance.Successful women can still have their feet on the ground. They just wear better shoes. (Maud Van de Venne)Life begins at the end of your comfort zone (Neale Donald Walsch)0 -
They'll probably automatically recall the amount in 14 days. Thats what we do when the payment is rejected first time due to insufficient funds.0
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