Advice needed please

Dolly6

Almost a year ago my husband and I split up after our debt problems came to a head,most of which I knew nothing about, when our house was repossessed. Again somethingI knew nothing about until 2 hours before the locks were changed!! Unbelievable I know but it happened.
Since then I have moved with my youngest son and the eldest when he's home from uni, into a rented flat and all the bills here are paid up to date.
A few months ago I had a letter from a firm representing Nat West where we had a joint account, informing me that there was an outstanding overdraft of £3,000+ and I had to make arrangements to pay it. My husband had told me at the time it had been paid off. I contacted them and agreed to pay £10 a month after explaining my circumstances, to "keep the debt with them" for 3months.
My problem is that I have asked for statements showing me how the debt is made up and I have not received anything to date. Does anyone know if they are legally obliged to provide me with this or should I approach the bank.
I need to make another payment this week and want to know my position before I phone them.

Sorry to be so long-winded.
Thanks in anticipation

supersavershal

Hi Dolly and welcome.Im not an expert myself and there isnt as many people on a bank holiday at this time.Im sure by tomorrow some really experienced mse s will be along with lots of great advice.Im sorry to hear of all your trouble with your husband im sending you a big hug.

Jenna

I'm sorry to hear about all your problems with your ex. I'm sorry I can't really add to what supersavershal has said, just that no doubt someone a lot wiser than me will be along shortly to advise

Oh and it might be worth speaking to your local CAB for definitive legal information, perhaps they could also help you write a letter to the bank or something?

A_Nice_Englishman

I'm not an expert but I doubt if the debt recovery company would have the details you want (copies of your old bank statements?)

I would have thought NatWest would have said something like 'Mr & Mrs Dolly6 owe us £3000 , please get it off them for us and you can have 10% for yoiur trouble"

RAS

You need to request your credit checks from all three agencies, so that you can find out about any other joint debts knocking about in the system. See Martin's article, which includes how to get them for free http://www.moneysavingexpert.com/banking/credit-rating-credit-score

Your starting point re getting the statements is to make a Subject Access Request. They are required to respond with 40 days.


[INSERT YOUR NAME, ADDRESS AND TELEPHONE NUMBER]
[INSERT DATE]

[INSERT NAME AND ADDRESS OF BANK]

Dear Sir or Madam,

Re. Account number: [INSERT ACCOUNT NUMBER]

I am writing to request all comprehensive list of all charges in this account over the last six years.

Please find enclosed a cheque for the maximum statutory charge of £10. If you are unable to provide this data, I will accept a copy of my statements going back six years; I understand that statements on their own are not covered by the Data Protection Act 1998, yet I’m not requesting the statements per se, but the charges, which I’m entitled to by law.

If you store any of the older records on microfiche, please be aware that the Information Commissioner deems this to be a relevant filing system under the Act. As such, any microfiche data must be sent to me in fully legible and comprehensible form.

I look forward to your response within 40 days, as [INSERT NAME OF BANK]is obliged to reply under the Data Protection Act. If not I shall seek remedy from the Information Commissioner.

Yours faithfully,

[YOUR SIGNATURE]

[YOUR NAME (PRINTED)]

Given your circumstances, you would be strongly advised to speak to all creditors with whom you still have joint accounts. They may not allow you to close the accounts without your ex's consent, but you can ensure that no more money is taken out without both signatures.

You also need to talk to one of the debt charities listed here

http://www.moneysavingexpert.com/loans/debt-help-plan#help

Depending on what you ascertain from your credit check, they may be able to negoitiate reduced payments for you, but if there are a lot outstanding joint debts, you may also want to consider bankruptcy. If you do not, you will remain jointly responsible for them and if your ex goes BK, you will pick up the whole tab.

debt_doctor

Ras has good advice and an excellent letter,I am concerned about the reppossession. Almost always there is a shortfall following the 'forced sale' of a house. If this shortfall exists then you are responsible for it jointly with your ex.

If the lender has no contact with you for 12 years ( 6 years if lender is a member of the council of mortgage lenders ) then the debt would become statute barred ( unenforceable )

Do not write to them, or you may start the clock tiking again. I suggest you get some 1 to 1 advice, and remember bankruptcy will write off all these possible debts, including any that you do not put on the petition because you didnt know the debt existed.

Best wishes

Dolly6

Thank you so much for all your replies and advice.
This morning I received a letter from the firm representing the bank enclosing statements since 2005 and nearly all the overdraft is made up of charges.
Decided to try and claim these back and clear the debt eventually that way. In the meantime, they have asked me to contact them to arrange repayment so will ring them tomorrow to negotiate the lowest amount they will accept.
Husband has agreed to pay all the monthly payments if I can get a low enough figure so thats good.
There was a shortfall in the mortgage but after filling in a budget form. I have not heard any more from the solicitors involved and that was months ago.

Dolly6

Debt Doctor,
I appreciate your advice but I don't think bankrupcy is an option because I am self employed and would lose my business which would mean I would have no income and I have worked so hard over the last 10 months to sort out problems there which my husband helped create.
I don't want to give in without a fight.