Help. Natwest and westcot debt recocery.

ffsear

Hi, i need some advice.

I had a Natwest account that had £600 overdraft. It was an overdraft i was servicing as i had just bought a new house. I was planning to pay it off next year with my bonus.

All of a sudden natwest closed the account and passed the £600 debt to westcote debt management. Ok, no problem. I agreed with westcote to pay it off at £50 a month, which now happens by direct debit.

Now yesterday i checked my credit file. The Natwest account is shown as still open as shows 4 missed payments in a row, even though i have paid every month by direct debit.

This ha caused my credit score to plummet.

I actually discovered the problem the previous month and natwest said they would correct my credit file. Bring my next report and natwest have done nothing.

I have been through every department at natwest, keep getting passed around. Even when i tried to make a complaint i was told by the woman in the "complaints department" that i was through to the wrong department !!!!!

Please does anyone have any advice on what to do? Im doing everything right yet they are mis reporting information to my credit file.

How do i escalate this matter with them.


Sent from my iPhone

Ben8282

I find it odd that somebody who has just bought a new house was unable to at the very least move £600 through the Natwest account to clear the overdraft on a monthly basis. Banks do not normally maintain overdrafts on accounts that no money is being paid in to.
Not quite sure what you mean when you say 'an overdraft I was servicing'. Do you mean using?
Overdrafts are repayable on demand.
Natwest would have written to you and asked you to repay. It would only have been passed to debt collectors when you failed to do so.
But they didn't simply withdraw the overdraft facility. They actually closed the account. Was the closure of the account the result of failure to repay the overdraft when asked to do so or was the closure of the account the reason for having to repay the overdraft?
You are actually lucky that they are reporting 4 late payments and an open account. In my opinion it should be showing a default and an arrangement to pay. Which would you prefer?

Get rid of the iPhone and repay your debts.

ffsear

Wow, Thats an amazing and incredibly unhelpful reply. That doesn't even address the issue.

When i said servicing the debt, i mean i was just paying the interest on it and keepinfg the overdraft balance within its limit.

At no point did they contact me and ask for payment . In fact i never even received any contact from natwest at all, it was westcot who called me to tell me they had taken on the account.


Im not sure why you questioning my reasons for not paying off the debt, perhaps you have no idea of the expenses involved when it cone to buying a house. The account was not my main bank account. It was my emergency account that i had to use while on holiday when my main account debit card got swallowed up by a cash machine yet funds were still taken from the account. I'm still waiting for those funds to be refunded.

Why should the account instantly be put into default? When i'm making monthly payments as per the agreement ?

Please keep to the facts i have stated here rather then make assumptions.

So now back to the actual point.... Can someone explain why natwest are reporting missed payments, when i am actually making payments on a monthly basis.

fermi

http://www.experian.co.uk/consumer/faq/CA1.html

4 - 6 : Agreed repayments are more than three months behind but you have agreed new repayments with the lender to bring the account in order.

If that is not accurate, then make a formal complaint stating that, and that if not corrected you will be taking the complaint to the FOS and ICO.

ffsear

Thanks,

This is what i don't understand. They closed the account (fair enough) but i never went over my overdraft limit. As soon as the account got closed, i was told to deal with westcot to pay off the balance. I did that straight away and agreed a £50 a month repayment.

On my credit file the balance is showing as being reduced, but natwest are still saying that he account it open and im missing payments!?!?!?!

My report now shows 3 missed payments in a row? Is this just poor communication between natwest and westcot?

ffsear

Hmm, well I've moved the balance onto an interest free credit card, and told westcot to tell NatWest that the account is now paid in full and to close the account.

Now it just a case of getting NatWest to amend my credit file.

I'm also going to make a complaint against Natwest as they never informed me about the account closure. I did not get letter, phone call, txt or e-mail about it.

stclair

Was you still within your overdraft at this time? The bank would not suddenly just transfer the account externally if the account was being managed correctly. Does the bank have your correct address to correspond to?

Ben8282

ffsear wrote: »

Hmm, well I've moved the balance onto an interest free credit card, and told westcot to tell NatWest that the account is now paid in full and to close the account.

Just wondering how you managed to transfer the overdrawn balance of a closed bank account which is with collectors to a 0% card.

ffsear

Ben8282 wrote: »

Just wondering how you managed to transfer the overdrawn balance of a closed bank account which is with collectors to a 0% card.

I used my iphone to call the debt collecting people.

Told them I wanted to pay off the full balance.

And paid it on my credit card which is 0% for 12 months.

Thrugelmir

ffsear wrote: »

I'm also going to make a complaint against Natwest as they never informed me about the account closure. I did not get letter, phone call, txt or e-mail about it.

Do you notify them in writing of your change of address?

ffsear

Thrugelmir wrote: »

Do you notify them in writing of your change of address?

Yep, I did it in branch, a month after I moved house, so a year before any of this surfaced. I'm good friends with my old landlord and he also confirmed no post from the bank.