Student overdraft.....many years later a letter from Wescot

sambd

I hope I am allowed to bump my thread :hello:

fatbelly

sambd wrote: »

I hope I am allowed to bump my thread :hello:

Of course!

You can still ask them for a full statement of the history of the account if you want to and, if that is not forthcoming, do a Subject Access Request under the Data Protection Act.

You seem to be accepting that balance as the figure you owe. If there is an argument that they deliberately kept the account open in order to keep adding fees and charges, then I'd want to quantify that. Any idea what the balance was when you walked away from it?

My guess is that they would be open to a full & final offer but if NatWest still own the debt, they may want 75%. You can always go up, so start below this. Some will say 20-25%. That would at least get a response.

Use the National debtline model letter and don't leave out the 'without prejudice' heading, which means that your letter can't be cited in a court claim.

sambd

Thank you so much fatbelly

I thought the balance was around £1,000 so the figure looks about right. Would I have to contact Natwest for the full statement or should Wescot be able to provide this for me? I want to reply to Wescot as soon as I can as this will stop the phone calls and also make sure they don't add any extra fees.

How can I find out if Natwest still own the debt? The letter Wescot have given me states "On behalf of Natwest Retail" does this mean that Natwest still own the debt?

Starting at 20% gives me something to work with, many thanks!

fatbelly

Wescot don't normally add fees. They would have no right to do so.

You can make the request for further info through them as then they know what is happening. They should pass the request on and then wait for a response.

Yes, that phrase indicates that NW still own it and that would be usual.

Realistically if you can eventually settle around 50% that's good, as shedhead said earlier.