Payplan or debt management company and Natwest

banks4u

I have a loan with Natwest, I had in total including interest was 30,400 to pay. I took it over 8 years, it is now nearly 7.5 years and I only have £3,500 ish to repay now.
I am really struggling with it now, as I pay £362 a month.
1. Could I ask anyone that has had a loan with Natwest and taken a debt management programe, what is Natwest like? do they issue a default letter?
2. What payment could I expect to pay? I know its dependant on your disposable income, but just want want examples of what other people had outstanding and how much you pay.

I did call them and asked if I could make a partial settlement they said no, but then again I spoke to a person that did not know about treating your customers fairly.

wannabee_in_credit

I haven't had a loan with Natwest but had my bank account and overdraft with them pre dmp.
Personally I have found them to be the worst and most unreasonable of my creditors, continuing to refuse my payment offers and apply charges. This went on for over a year of my dmp and they have only very recently accepted what cccs have offered them.

Tixy

Have you beein in touch with payplan or one of the debt advice charities yet?
Have you done a full statement of affairs to work out how much you can afford to your debts each month?

Is this your only creditor?

If you enter a DMP its very likely they will issue a default notice.

Your creditors will expect the full repayment, but when you enter a DMP they will have to settle for as much as you can afford and can demonstrate by a income & expenditure account.
If it is your only creditor and you really cannot afford the monthly payment then it may be worth seeing if they will agree to extend the loan term slightly and reduce your payments, to try to save your credit file. If you have other debts that you cannot afford then entering a DMP may be the best option and I wouldn't worry about a default from natwest if you will likely be issued them by your other creditors as well.

banks4u

Well they aren't my only creditor, I have other creditors as well. I have been so good and paid off nearly 30k worth of debts in the last few years. Now it is just difficult because I brother lost his job, if he was working I would be 100% fine.

I am surprised with Natwest, as they are majority state owned. The govt did this to us, so why can they not at least help us.

BlushingRose

wannabee_in_credit wrote: »

Personally I have found them to be the worst and most unreasonable of my creditors,

I had an account with them too, waaaaaaaaaay when I was at uni. I used to call them 'Nazi-west'

banks4u

Lol they are so crap. I may call up and make a partial settlement offer of 1000 as all I am paying now is interest, the money I borrowed has been paid back.

fatbelly

banks4u wrote: »

Lol they are so crap. I may call up and make a partial settlement offer of 1000 as all I am paying now is interest, the money I borrowed has been paid back.

They're not going to accept that logic. If you want constructive advice we're going to need more details from a statement of affairs.

Please use 'format for mse' and then cut and paste, removing any links.

Just noticed you did one in another thread - will take a closer look

https://forums.moneysavingexpert.com/discussion/3683621