I don't know who my creditors are

worriedpenguin_2

I have moved house five times in the last few years and I have suffered from poor mental health in that time. For the first time in a long time I have money going into an account. I'm currently in receipt of benefits (ESA support group) and want to make an effort to clear my debts.

I ran up an overdraft with Natwest of £910 and lost access to online banking/debit card facilities. I couldn't cope with this stress and ignored the situation completely. According to my Noddle credit report, I defaulted on this debt in May 2012, and a scheduled payment went into the account in February 2013 reducing the overdraft to £660.

Any letters regarding this debt will have been sent to an address I haven't lived in since 2011. I'm not sure if Natwest remain my creditors or if the debt has been sold to another party. It is still listed as 'Nwb Current Accounts' on Noddle with a balance of £660, but I also remember ignoring a lot of phone calls from numbers belonging to collection agencies.

Is it likely I can go into a Natwest branch and clear this debt tomorrow, or will I need to try to find whichever agency is dealing with my account?

Suseka

I'm sure someone with similar experience in terms of bank o/d defaults will be along to give some sage advice... but if it were me, and seeing as it seems you have the funds to clear the balance, I would pop into a local branch and check the state of play. Or, alternatively, contact NW by phone if its easier for you.

You might find that if NW has passed the debt on to a DCA and if that DCA has been trying to trace you - they may have levied some charges for their efforts. Either way its best to know and you can hopefully either clear in full or set up some sort of reasonable repayment plan and put your mind at rest.

Good luck and well done you for trying to sort it out

Karen777

I would agree - gather your patience, pop in, explain the situation and I can't imagine a creditor not wanting to help someone who wants to pay money back to them.
Good luck.

Powered_By_Pies

Natworst conveniently 'forget' about debts until it comes to that time where they need their yearly top-up and go on the hunt for defaulted or dormant accounts. It's usually about this time of year, July/August time. That's when they'd always ramp up contact with me anyway, even when I started making higher-rate payments than previously.

It's worth asking at a branch but don't acknowledge the debt - I would say to them that I think I have an old account with them but I'm not sure, do they have any details of anything, and see what they drag up on their system.

You do need to be careful about the way you word things to any of their 'financial advice team' - every time I went into my local branch there was one particularly nasty piece of work who tried to manipulate everything I said to make me sound like I was the worst human ever.

Then again, I detest that bank with a passion and pray for the day I get to see it burn to the ground, so I might be a little biased....

fatbelly

Do you have enough cash to clear ALL your debts?

If not, I would hang fire until you've worked out what you can afford, and which order to pay them off in.

worriedpenguin_2

fatbelly wrote: »

Do you have enough cash to clear ALL your debts?

If not, I would hang fire until you've worked out what you can afford, and which order to pay them off in.

I have about £2000 in my Barclays account, with monthly income of about £800 and monthly expenses of about £600.

This overdraft (and any associated charges) is the only debt I have. If it is £660 or so I can afford that tomorrow while still having an emergency fund. If it's considerably more than £660 I have enough net income each month to arrange a repayment plan.

I've had a bad experience with Natwest and their DCAs so just want it sorted as soon as possible so I can continue my fresh start of budgeting and managing my money sensibly.

fatbelly

worriedpenguin wrote: »

I have about £2000 in my Barclays account, with monthly income of about £800 and monthly expenses of about £600.

This overdraft (and any associated charges) is the only debt I have. If it is £660 or so I can afford that tomorrow while still having an emergency fund. If it's considerably more than £660 I have enough net income each month to arrange a repayment plan.

I've had a bad experience with Natwest and their DCAs so just want it sorted as soon as possible so I can continue my fresh start of budgeting and managing my money sensibly.

Shouldn't be a problem then. If NatWest are reporting to the credit reference agencies that you owe them £660, then they are your creditor and that is what should clear your debt to them.

worriedpenguin_2

Thanks for the advice. I went into Natwest today and confirmed that was the correct debt, and that I was still within their recoveries department and not a third party. Used their phone to arrange repayment (saving 20 minutes of 0845 call charges on my mobile). Paid a third today, arranged for two more monthly payments as no interest or charges are being added. Debt-free in September

sourcrates

worriedpenguin wrote: »

Thanks for the advice. I went into Natwest today and confirmed that was the correct debt, and that I was still within their recoveries department and not a third party. Used their phone to arrange repayment (saving 20 minutes of 0845 call charges on my mobile). Paid a third today, arranged for two more monthly payments as no interest or charges are being added. Debt-free in September

You can change your username to "Happypenguin" now then lol :T