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Confused worried student...
brokeassstudent
Posts: 1 Newbie
Hi, I've just recently gotten a letter from Wescot Debt Collection and I have found out that natwest have sold my student overdraft debt on.
First of all, I spent £1000 of this overdraft, which was my limit. And I didn't continue using the account. My main bank has always been Halifax, and before I went to uni, they offered me a student account and I took it.
(not knowing you are not allowed to do this).
So, since then I haven't paid anything into my natwest account, and now this has happened. Natwest have called me once to remind me that I have to keep using the account if I didn't want to pay back what I owed them, but I didn't know it was this serious.
What are the best and worst case scenarios? And what I am going to have to do. I won't even be able to pay this debt in instalments at the moment, can't they just sell the debt back to Natwest and let me credit the account?
I know I haven't been the smartest in this situation but I didn't know it was this serious. I'm quite scared and worried since this is the first situation of this kind that I've come across.
First of all, I spent £1000 of this overdraft, which was my limit. And I didn't continue using the account. My main bank has always been Halifax, and before I went to uni, they offered me a student account and I took it.
(not knowing you are not allowed to do this).
So, since then I haven't paid anything into my natwest account, and now this has happened. Natwest have called me once to remind me that I have to keep using the account if I didn't want to pay back what I owed them, but I didn't know it was this serious.
What are the best and worst case scenarios? And what I am going to have to do. I won't even be able to pay this debt in instalments at the moment, can't they just sell the debt back to Natwest and let me credit the account?
I know I haven't been the smartest in this situation but I didn't know it was this serious. I'm quite scared and worried since this is the first situation of this kind that I've come across.
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