NatWest closed account debt

Pehmimlalip213

Hi everyone! I’m writing on behalf of my mum and dad as they aren’t very technical and don’t get how this all works.

So they have received a letter from NatWest saying they are in credit £400 from and old account from nearly 10 years ago. My dad then rang NatWest to discuss this and was told that him and my mum owe £5,000 from an old account! However then when he spoke to another NatWest collegue they say it was £8,000! How can this be as they have no idea about it an it’s from an account over 6/7 years ago???
My parents sold their debts to a company and repaid monthly payments to the company and paid the last payment to the company last month and are, up to now, totally debt free!! , NatWest are saying they didn’t receive any payments from the company?
They also said they sent a letter in 2016 but heard nothing, which my parents have no recollection of this at all!
This is strange how my parents would have known nothing about the debt unless they had rang about the £400 credit??
My dad has asked for a final statement from NatWest so they know exactly how much it is, what should they do? We are thinking of getting a solicitor etc? Can NatWest do this after it being so many years? My mum mentioned that if someone owes you money you only have up to 5/6years to claim it back, if this is the case is it the same for a company?
We are just looking for advice and what to do and where to go as we can’t believe this has happened from an account so many years ago!
Thank you

Carrot007

Without further info I assume they probably uased a fee paying "debt management" company that pocketed the money.


They sounds so good and tell you what you want to know.


Regardless of debt plans you should get statements from each company you owe and look at it going down.


I'm sure the company has disolved and reformed many times by now. So not much you can do to them.


Yes companies have 6 years (5 in scotland) since you last acknowleged the debt (payment being the most obvious but not the only indicator) to chase you. If it has been longer tell them, acknowledging it after may cause them to chase but reminding them of the period will stop them.


Note your parents cannot sell their debts. Only the companies they owe can.

EachPenny

Pehmimlalip213 wrote: »

So they have received a letter from NatWest saying they are in credit £400 from and old account from nearly 10 years ago. My dad then rang NatWest to discuss this and was told that him and my mum owe £5,000 from an old account! However then when he spoke to another NatWest collegue they say it was £8,000! How can this be as they have no idea about it an it’s from an account over 6/7 years ago???

Do your parents know how many accounts they have (and/or had)? The different figures being quoted might relate to different accounts.

Pehmimlalip213 wrote: »

My parents sold their debts to a company and repaid monthly payments to the company and paid the last payment to the company last month and are, up to now, totally debt free!!

Was this some form of IVA your parents entered into?

Pehmimlalip213

I believe it is only the one account