Notice of sums in arrears(NOSIA) refund Natwest

Milburac33

Good evening all


I was in a DMP from 2008 to 2015. I finally cleared my debts with a full and final offer to all of my creditors. Natwest was my largest creditor who added so much interest and charges that by the time they agreed my full and final offer, I had paid more than the original loan + interest but this left a balance of £507.50. Anyway I have now received a letter advising me that Natwest overcharged my £1587 after failing to send me NOSIA statements...BUT...they have only sent me a cheque for £1079.50, saying that they are entitled to reclaim the £507.50 balance from my refund


I'm not being greedy, but Natwest made my life a misery during the hardest period financially for me.


My full and final offer agreement with them stated that I would not be liable for the remaining balance. I have that in writing from them


Are they able to take that sum out of my refund if they have already agreed I am not liable for it ?

John_Jones

Yes, they are.

Nasqueron

Milburac33 wrote: »

Good evening all


I was in a DMP from 2008 to 2015. I finally cleared my debts with a full and final offer to all of my creditors. Natwest was my largest creditor who added so much interest and charges that by the time they agreed my full and final offer, I had paid more than the original loan + interest but this left a balance of £507.50. Anyway I have now received a letter advising me that Natwest overcharged my £1587 after failing to send me NOSIA statements...BUT...they have only sent me a cheque for £1079.50, saying that they are entitled to reclaim the £507.50 balance from my refund


I'm not being greedy, but Natwest made my life a misery during the hardest period financially for me.


My full and final offer agreement with them stated that I would not be liable for the remaining balance. I have that in writing from them


Are they able to take that sum out of my refund if they have already agreed I am not liable for it ?

If they wrote off any money when accepting the settlement, then yes they are allowed to offset refunds against that debt. The letter they sent actually means they won't CHASE you for any other debt, not that the debt doesn't exist. Given that the NOSIA thing is a ludicrous loophole that gets people out of paying some of their debts on a technicality you've had an unexpected bonus sum of money that you can use to move forward with your life, take it and enjoy and don't get upset about the past