natwest cannot loacte credit agreement

homer_j_3

It depends on what you want to do Bridget.

I would not send as your query is regarding the new loan, not the old one is it not? Me being a sceptic would say that they realised that they have not got the old one either and are bricking it because of the position that they have left themselves in.

bridget81

thanks homer j, thats what OH said.

i dont think i will send it, if they wanted it they should have requested it months ago, but as so much time has now passed i think that they are slightly worried too.
and yes it is the one agreement they want relating to the old loan. I have provided them with all the figures and they can see them anyway from my bank statements, they can also work the original loan term out from statements and a calculator! the only thing they may not be able to do is seperate how much was loan and ppi within payment but i have told them each figure in writing.

i think i will leave it and if they ask me again i will call onbudsman or just tell them im not happy to send it and just to contact me when they have my answers or liaise with onbudsman.

my other reason is incase someone 'copies' my signiture, i am not saying they would but this has happened to me before about 2 years ago so i am very wary. the person was done for fraud and sacked, again me being nieve didnt persue it but i did get my windows for free!

thanks again

homer_j_3

Yes, I have come across some dubious techniques employed by lenders in the past so fully respect this.

Can I ask, at what point will this get resolved? I can see this being deadlocked.

bridget81

i have absolutely no idea.

i'm just carrying on as normal payments wise. But they should be able explain to me why term and payments were increased as i believe it is to do with PPI refund, i want to see figures in writing.
as for the Credit agreement, god only knows. i dont know how long natwest will continue to look for. and what there policies are regarding not finding a credit agreement. at that point i may argue i only agreed for term to start and finish when it did so my payments should be cut by the 2 extra months its increased by, or that is what i will argue for anyway.
see i dont know exactly how it all works as this is new to me. will natwest make an offer of something if they are in 'breech of contract' or not. ie reduce my term back to stated on orginal agreement? as i can hardly see them scrapping the remainder of the loan (i dont expect them to do that) and if this is the case that it is null and void without agreement are they deliberatly stalling to make sure they get as many payments out of me as possible before they have to say dont pay anymore to try to reduce their lossess?

i honestly dont know but can agree that it is just going no where.

as for onbudsman, i'm not sure exactly what they can do, i literally wrote to them as i was getting no where with natwest and it is going on so long. But like i said i dont know what they can do, other than argue with natwest that a new loan should not have started just because PPI was cancelled (they told me natwest were wrong for doing this over the phone).

guess i'll just have to sit tight!

thanks again homer j

bridget81

has anyone got any ideas of how i can speed this up in any way, not had any letters from natwest for about 5 weeks, no phone calls from them since i last spoke to them.

should i chase them?
if so is there anything in particular i should say?

thanks :beer:

jonesMUFCforever

bridget81 wrote: »

has anyone got any ideas of how i can speed this up in any way, not had any letters from natwest for about 5 weeks, no phone calls from them since i last spoke to them.

should i chase them?
if so is there anything in particular i should say?

thanks :beer:

Scare them by giving them 7 days to come up with the signed agreements or that you will be seeking legal advice as to how to make the loan unenforceable.

bridget81

been trying to contact natwest since monday, threatend another letter of complaint if i did not receive contact back from lady dealing with my complaint. Lo and behold i received a call today from a senior manager who said he has looked into my case and they are unable to locate second credit agreement but ALSO the ORIGINAL!
i stated my point and asked when i would receive a response as my patience is running out. He stated i would get a reply early next week answering my questions. I asked if that would include answers to increase in payments and also term. he said yes.
then five minutes later he called back asking what the term increase was. i suggested he looked into my letter of complaint but that i would have made 62 payments in total rather than 60, also i was concerned my credit score could have been affected if none of this had arised as i would have cancelled DD after 60th payment. He then went on to state i would be entitled to compensation; at least the 2 months over the 60 payments. I stated i would have expected that anyway! he then went on to say i would i also get compensation for the amount of time this has taken. But i reminded him that they could still not locate credit agreement and mentioned in passing the word legislation.
he advised he would like me to call back if i am unhappy with the letter i receive and to discuss it further.

I am guessing i will get a refund of £132.63 x 2 which is the 2 extra months they have increase my loan by. £265.26
refund of £2 x 12 x 3 = £which is the monthly overpayment so far £72

plus the extra interest i have paid on the £337.26

so i reckon about £350 ish
but that does not take into account the god know how many phone calls from my mobile to a premium rate number, time spent on the phone, inconvenience.

so i think a minimum of £400.
of course i will contact the financial onbudsman to discuss letter content and will not agree to anything with natwest till i have spoken to them as i am well aware that they are unable to locate agreement therefore there is a chance they may say sit tight and wait till they investigate.

dos anyone else have any suggestions?

jonesMUFCforever

If you are happy with compensation of £400 if offered why bother going to the Ombudsman which will probably agree with you but delay the payout possibly by months?

simmyboymartin

Hi All,
i am on a couple more threads with my bank problem, but this thread seems valid for me, i have been in dispute for nine months with my bank, and to date they still have not provided me with a loan agreement for a £10k loan they say i took out in 2001, but as a gesture of goodwill they have cleared £2,700 they say i still owe on it, reading this does this mean they have broken the law by not providing it? the ombudsman say that they can't do anymore because they are just an advisory service but think that it may well be the way to go with it is through the legal route, do the banks fob everyone off like this and hope we give up ? has anyone had the same problem as me? and has anyone took them on and what was the outcome ? thanks

jonesMUFCforever

Sorry but you have had loads of advice about your loan problem, even from the Ombudsman and I don't think it appropriate that you should hijack this thread with your case.