NatWest - Full & Final Settlements

erskineman

I've got a few thousand pounds outstanding on a NatWest credit card, which was defaulted back in 2005. I've been making token payments since then. The account is still with NatWest and has never been passed to a DCA, and the default dropped off my credit file a while back.

My question is, has anyone on here had any experience negotiating full and final settlements with NatWest, and if so, how successful were you?

Thanks in advance.

happy_bunny_2

Has their internal DCA contacted you (Triton)?

What's the balance?

Roughly what do you pay?

erskineman

Balance is just over £8k
I've been paying £5 per month since around 2005.
It's never been passed to Triton.
I receive a statement each month.
No interest has ever been added since it defaulted in 2005.

The reason for this thread was that I wrote to NatWest asking if they would accept a full and final which my daughter would have paid for me.
It was a small offer (20%) so wasn't surprised it was rejected.
However I was surprised that NatWest stated in their 'rejection' letter that they'd only accept the entire outstanding balance to settle the account.

Is this normal for NatWest, and the end of the matter, or do you think they may still negotiate?

Thanks

happy_bunny_2

I see.

Have you ever sent them a CCA request?

The only hold they have over you now the default us gone is they can threaten court.

If they don't have the original signed CCA, if you defend any court action, then they won't get a CCJ and therefore can't legally make you pay.

I would send a CCA request, give them a month to respond, see what comes back. If nothing or junk, stop paying. They will sell it to a DCA who when realise its unenforceable, and will bite off your arm for 15-30%.

erskineman

Ok, I'll send CCA thanks.
Is there a template letter somewhere handy?