natwest cannot loacte credit agreement

bridget81

my request was 31st january, so they are definately committing an offence..

what do i do now? do i go to onwardsmen? or wait for natwest to respond? even though they have had plenty of time? should i stop paying the loan? or request interest is frozen even though i have had the money, which i am not disputing. or will natwest know they are commiting an offence, or is that me being stupid again, or do they just hope i dont know they are committing an offence? (sorry for waffling!)

oh dear, decisions decisions!!

any advice will be greatly appreciated

jonesMUFCforever

Whatever you do DON'T stop paying the loan.
Your credit rating will be screwed.

dannynixon

jonesMUFCforever wrote: »

Whatever you do DON'T stop paying the loan.
Your credit rating will be screwed.

Agreed with Jones

bridget81

thank-you for your replies.

thats what i thought, havent missed any payments so willleave my payment set up as it is.

thanks again:beer:

homer_j_3

When was the loan taken? What rules were the loan regulated under and are these the same rules that you relate to.

I know for the old CCA 1974 loans, this timescale existed but wasn't sure if the rules for more recent loans.

bridget81

the loan was taken out in 2004, and according to the financial onwardsman the time scales are right for the loan.

thanks for all help

pa49

I'm sure that someone will correct me if my thinking is rocky, but, as they have committed an offence I don't see a problem in informing them that as they are in breach of CCA you are "SUSPENDING" (not cancelling) payments until such time as they comply with your requests. They can't take any action until such time as they provide you with the requested info/documentation/interestcalcs.
This could spur them into dealing with your situation.

bridget81

thank-you for your response, i didnt think of that.

i'm going to complete onwardsman docs tonight and post them off tomorrow.

thanks again :beer:

jonesMUFCforever

I repeat do not suspend or cancel payments or you will regret it.

bridget81

thank-you for all your responses and advice.

i have completed documents for onwardsman so will post them tonight.
i have no intention of cancelling payments, as i owe the money i borrowed so by postponing them i will just increase the time it will take me to pay the loan off.
i have still not heard anything from natwest and it has been another 2 weeks from there last letter saying they have not located it and will be in touch soon.
i will just continue as if nothing is going on from a repayment point of view, and leave it to onwardsman to obtain credit agreement, check i will not have paid more than i should and clarrify interest / APR, as i only have advisors word that it is 7.9%. naturally i want it in black and white.

i suppose if i carry on paying and i have provided them with nearly 4 months to locate agreement maybe they will see i am being reasonable. i just hope they dont turn round and say i have to move banks!

as for the £1 payment, i did not know about this, nor have any of the natwest advisors informed me of this. i would gladly pay them £1, which they could easily debit from my account, to receive my agreement, and breakdown of PPI rebate. this whole thing started with a phone call to ask why my payments had increased, never in a million years did i think it would go on for this long! i think i opened a can of worms!

thanks again for all your advice :beer: