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NOSIA Natwest
winklefish
Posts: 2 Newbie
I have an outstanding debt with Natwest which is being paid off through Zinc financial. Today I received a letter from Natwest stating that they have not full met the requirements because A.They did not send a NOISA or statement when they should have or B.A NOISA or statement contained errors.
My question is, are they in breach of regulations because of this and would I possibly be liable for any compensation or reduction of my balance owing?
Any help would be very much appreciated thank you.
My question is, are they in breach of regulations because of this and would I possibly be liable for any compensation or reduction of my balance owing?
Any help would be very much appreciated thank you.
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Comments
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A statement is required at least once a year, if they fail to provide one, the debt is unenforceable for the duration of the non compliance, they also cannot charge you interest for the same period.
That is the limit to any reimbursement you may seek from them.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Thank you. so if nat west failed to provide statements for 6 years? do i got to the bank or the FCA?0
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winklefish wrote: »I have an outstanding debt with Natwest which is being paid off through Zinc financial. Today I received a letter from Natwest stating that they have not full met the requirements because A.They did not send a NOISA or statement when they should have or B.A NOISA or statement contained errors.
My question is, are they in breach of regulations because of this and would I possibly be liable for any compensation or reduction of my balance owing
Do you mean Link Financial?
If so is it Link Outsourcing who may be an agent (DCA) for NatWest or has this debt been assigning (sold) to Link Financial ? Or neither
From what you say NatWest have remedied their error of not serving you with annual Notice of Sums in Arrears (s86) so compensation may not be an option.
What is the current status of this debt? Was it a credit card, loan or current account overdraft?
You may benefit from sending a s 77-79 CCA request to NatWest (if they still own the debt) or Link (if they have purchased the debt).
Di0 -
The letter in full would have told you if you were due a refund due to this that they will use it to offset against any debt you still owe them then if there was any remaining balance from your refund the cheque was attached to the letter.
We had same letter. No debt still owing so cheque attached.
Have a read of the letter again in full and see what they have done to rectify this error£2 Savers Club for 2022 #120
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