RBS Loan stressing me out!!!

[darney_1]

Hi,

 

I owe £9000 to RBS, and its stressing me out. My loan was originally around £2000 8 years ago, but was refinanced to cover overdrafts - this was under the advice of the RBS, even though i was earning barely £600 a month. Each time it was re-financed I was put on a massive interest rate. So that now, its around £6000 + interest = £9000. Then 2 years ago i was unemployed, and the RBS closed my account as I could no longer make the payments required. They now expect the full amount.

 

I am dealing with AIC ,whom I see are not too popular, and have sent a letter asking to pay £200 a month. I am a student with a part-time wage, and earn £600 a month, minus £300 rent, so £200 seems more than fair, however, it has been rejected,and they still want the full amount.

 

What the hell do i say to these people??? I do not want them turning up on my doorstep. And the phone calls have just begun. I do not want to bury my head in the sand, but these people do not make it easy.

 

Any advice or help is appreciated. You dont half feel alone when it comes to debt :(:(

 

D

[yaffsimone1]

In the first instance i would, if you can really afford to do it, is start paying 200 pounds per month. Personally based on your figures i think 200 is too much, can you really live on 100 pounds a month? You dont mention travel expenses, food, clothing etc only rent.

 

I highly suspect that AIC won't refuse your payment, and if they keep demanding the full amount tell them to issue a court summons. If they do, you defend by saying you made monthly repayment offer, it wasn't accepted or refused by AIC but you proceeded with making the payment anyway. Based on this you ask that the judge considers allowing you to continue making the monthly payments. This should see you in good light.

 

Obviously if you dont keep up with the repayments, then a CCJ will/may be issued if AIC go down this route

[IdaInFife]

if ias you i would start by sending a sar to rbs. This will get you all they info they hold and you would be able to calulate what charges are reclaimable.

 

http://www.consumeractiongroup.co.uk/forum/scotland/94302-updated-scottish-procedure.html

 

this will cost £10 and you need to send recorded delivery and they 40 days to comply

 

i would then send AIC a cca request, this will hold them up a bit and this is you requesting to see a copy of any alleged agreement they should have.

http://www.consumerforums.com/resources/templates-library/86-debt-collectors/581-cca-request-letter

 

this you need to include £1 po and do not sign the letetr just print your name and again send recorded delivery

 

 

Ida x

[veryweary]

Ida's advice as usual is excellent. You can also inform them you will only deal with this matter in writing, and ask them to remove your phone number from their records. There's a letter for this in the template section. Send alll your letters by recorded delievery as they'll deny receiving them. If they call, tell them 'in writng only' and refuse to answer their security questions. It's best not to talk to these people as they only try to harass you into apying them more than you can afford.

 

Once they send you a copy of your agreement, post it up minus your personal details and people can advise whether it is enforceable or not.

 

Then if you want to pay them each month , you decide the amount not them. Work out how much you need for rent, electricity, food, travel etc, insurance, prescriptions, clothes, entertainment etc etc before thinking about what to offer them. There are plenty of people who owe similiar sums paying back £10 per month or less because that's all they can afford after deducting living expenses. AIC don't care if you starve.

 

It's also against Trading Standards regulations for a company to refuse a reasonable repayment offer based on a persons individual circumstances, so report them for that as well.

 

Above all don't worry, you'll get all the help you need from the good people on this site.

[IdaInFife]

this is the letter that veryweary has mentioned:

 

Re: Harassment by telephone

 

ACCOUNT NUMBER: XXXXXXX

Dear Sirs

I am writing in relation to the quantity and frequency of telephone calls that I have received from your company, which I deem to be personally harassing.

I have verbally requested that these stop, but I am still receiving calls. (Delete if necessary)

I now require all further correspondence from your company to be made in writing only.

I am of the view that your continued harassment of me by telephone puts you in breach of Section 40 of the Administration of Justice Act 1970, and the Protection from Harassment Act 1997.

If you continue to harass me by telephone, you will also be in breach of the Communications Act (2003) s.127 and I will report you to, FOS, OFCOM, Trading Standards and The Office of Fair Trading, meaning that you will be liable to a substantial fine.

Be advised that any further telephone calls from your company will be recorded.

 

Also I note it is your intention to arrange a “doorstep call”, please be advised that under OFT rules, you can only visit me at my home if you make an appointment and I have no wish to make an appointment with you.

There is only an implied license under Scots Common Law for people to be able to visit me on my property without express permission; the postman and people asking for directions etc. Therefore take note that I revoke license under Common Law for you, or your representatives, to visit me at my property and if you attempt to send such a collector to my home, you will also be reported for harassment and I shall seek damages for a delict of trespass. You would also be liable for conspiring in a delict of trespass by acting in defiance of my instructions and sending someone to visit me nevertheless. Should it be necessary, I will obtain an interdict from the Court to prevent you carrying out your threat.

 

 

Yours faithfully,

 

Ida x

[sequest]

Hi,

 

I owe £9000 to RBS, and its stressing me out. My loan was originally around £2000 8 years ago, but was refinanced to cover overdrafts - this was under the advice of the RBS, even though i was earning barely £600 a month. Each time it was re-financed I was put on a massive interest rate. So that now, its around £6000 + interest = £9000. Then 2 years ago i was unemployed, and the RBS closed my account as I could no longer make the payments required. They now expect the full amount.

 

I am dealing with AIC ,whom I see are not too popular, and have sent a letter asking to pay £200 a month. I am a student with a part-time wage, and earn £600 a month, minus £300 rent, so £200 seems more than fair, however, it has been rejected,and they still want the full amount.

 

What the hell do i say to these people??? I do not want them turning up on my doorstep. And the phone calls have just begun. I do not want to bury my head in the sand, but these people do not make it easy.

 

Any advice or help is appreciated. You dont half feel alone when it comes to debt :(:(

 

D

 

I would begin by sending a Credit Card Agreement request to NatWest. Include a £1 Postal Order.

 

If they cannot produce the Agreement within 14 +2 days, you can send them an Account in Dispute' letter and withold payment until they produce Agreement.

[yaffsimone1]

Sequest

 

From reading the post Darney is not disputing the debt or has Darney said they cannot pay, he/she have made an offer of payment after all.

 

I like to think that requesting of the agreement and going down that route is to be used only as a last resort, it is not there for an easy way out.

 

I have used the CCA request but only when all other avenues have been exhausted, and it was as a last resort. By going down that route it has ruined my credit status.

 

My opinion is that in the first instance you should always make an offer to pay and try and sort out the debt the right way.

[maroondevo52]

Two threads merged.

[sequest]

Sequest

 

From reading the post Darney is not disputing the debt or has Darney said they cannot pay, he/she have made an offer of payment after all.

 

I like to think that requesting of the agreement and going down that route is to be used only as a last resort, it is not there for an easy way out.

 

I have used the CCA request but only when all other avenues have been exhausted, and it was as a last resort. By going down that route it has ruined my credit status.

 

My opinion is that in the first instance you should always make an offer to pay and try and sort out the debt the right way.

 

I agree with you that it is best to try to sort out payment first but Darney has offered an amount he can reasonably afford and it has been turned down. There is no point in being forced to pay an amount you cannot afford because in the end you will default. Consequently, if they do not wish to abide by the Bankers Code of practice by being reasonable to their customers and checking his ability tp pay when granting the loan, then this is probably the best way to proceed. It also seems to me that he could claim Unfair Relationship if he proceeded to court as the bank clearly did not take into account his financial situation.

[IdaInFife]

sorry yaff but i disagree with you, i would always check first that any company has the right to collect payment first.

 

that's like me saying yaff you owe tsb £4000 but pay it to me.

 

I stand by original post

 

Ida x

[rickyd]

it seems we don't know enough about the refinancing to pass valid comments here. I realise that the loan has got bigger over the years but surely the decision to proceeed was darney1's or did they lock him/her in the room until he/she signed?

 

From my experience the loan payments will have been weighed against affordability criteria at the time of the application then checked and signed off by a manager before the loan was drawn. If the increased lending was for overdrafts, the money had obviously already been spent and in most cases the loan's interest rate would be below the overdraft rate. It seems the real problem came along with unemployment which would affect most of I guess.

 

The thing is that life must now go on and no matter how much the collectors want to take, you still have to pay for food, heating, rent etc. Its one of the joys of unsecured lending. The bank knew the risks and happily took them.

 

I agree that £200 is way too much from £600 income so no matter how much they scream and shout, they'll just have to wait, or take the case to court which they won't do as they know you can't get blood out of a stone.

[yaffsimone1]

sorry yaff but i disagree with you, i would always check first that any company has the right to collect payment first.

 

that's like me saying yaff you owe tsb £4000 but pay it to me.

 

I stand by original post

 

Ida x

 

What are you saying..spend 9k of someone elses money then only pay it back if they have the right to collect it! Ok legally they might not have a right but morally the money was spent and should to be re-paid. This i where it gets my goat that some people (not saying this thread in particular) simply use the CCA as a tool to avoid paying.

[sythe]

What are you saying..spend 9k of someone elses money then only pay it back if they have the right to collect it! Ok legally they might not have a right but morally the money was spent and should to be re-paid. This i where it gets my goat that some people (not saying this thread in particular) simply use the CCA as a tool to avoid paying.

 

EXCUSE ME..........but I think you will find, if you take the time, that in this case the person in question is not using any "tool to avoid paying":confused:

 

..........and in fact in the vast majoroty of cases people simply expect to pay back only what they borrowed........not unreasonable interest charges, PPI's that they haven't been able to rely on and all the other charges that creditors seem to think it is clever to impose on those who obviously haven't the means to repay..........by the way what's your real name SHYLOCK............krj8:-x

[yaffsimone1]

EXCUSE ME..........but I think you will find, if you take the time, that in this case the person in question is not using any "tool to avoid paying":confused:

 

..........and in fact in the vast majoroty of cases people simply expect to pay back only what they borrowed........not unreasonable interest charges, PPI's that they haven't been able to rely on and all the other charges that creditors seem to think it is clever to impose on those who obviously haven't the means to repay..........by the way what's your real name SHYLOCK............krj8:-x

 

No i totally agree with you with regards to unreasonable interest charges, PPI etc.

 

Though if you take the time to read back through the threads, i have not suggested the original poster is using the CCA as a tool to avoid paying at all, he asked for advice and i suggested that he, in the first instance, pay what he can afford, it was subsequent posts that suggested going down the CCA route. Which in my opinion (and we are allowed one on here!) is to be used as a last resport.

 

I am a Christian and find your Shylock comment offensive, we are all entitled to our opinions this forum is here to help others.

[sythe]

No i totally agree with you with regards to unreasonable interest charges, PPI etc.

 

Though if you take the time to read back through the threads, i have not suggested the original poster is using the CCA as a tool to avoid paying at all, he asked for advice and i suggested that he, in the first instance, pay what he can afford, it was subsequent posts that suggested going down the CCA route. Which in my opinion (and we are allowed one on here!) is to be used as a last resport.

 

I am a Christian and find your Shylock comment offensive, we are all entitled to our opinions this forum is here to help others.

 

 

It may surprise you to know that I too am a Christian and I found your post extremely offensive..........that is why I replied in such strong terms. I'm so glad you got my point.:cool:krj8

[Mr lex]

Please think carefully about what you post.

 

Offensive comments will be removed to protect other members.

 

Thank you.

 

Lex

[sythe]

Please think carefully about what you post.

 

Offensive comments will be removed to protect other members.

 

Thank you.

 

Lex

 

 

I do hope you have sent this message to "yaffsimone1" as well. I found the comments about my motives in trying to make sure that I repay only what I owe to be extremely offensive.

 

kind regards

krj8:!:

[sythe]

sorry yaff but i disagree with you, i would always check first that any company has the right to collect payment first.

 

that's like me saying yaff you owe tsb £4000 but pay it to me.

 

I stand by original post

 

Ida x

 

 

Hi Ida

 

I agree with you completely. Also it is not at all supportive for anyone to suggest that a CCA request is any kind of tool to avoid paying. What a CCA request does is prove or disprove that the amount being sought for repayment is accurate and can be enforced. People who come to this site are, like myself in extreme financial diffuculty. They need support, not critisism. I'm sure others will agree with me when I commend and thank you for your non-judgemental approach & supportivenss.

 

kindest regards

krj8:)

[sythe]

if ias you i would start by sending a sar to rbs. This will get you all they info they hold and you would be able to calulate what charges are reclaimable.

 

http://www.consumeractiongroup.co.uk/forum/scotland/94302-updated-scottish-procedure.html

 

this will cost £10 and you need to send recorded delivery and they 40 days to comply

 

i would then send AIC a cca request, this will hold them up a bit and this is you requesting to see a copy of any alleged agreement they should have.

http://www.consumerforums.com/resources/templates-library/86-debt-collectors/581-cca-request-letter

 

this you need to include £1 po and do not sign the letetr just print your name and again send recorded delivery

 

 

Ida x

 

hi Darney1

 

Ida's adivce is very sound. If we can take it as read, that you are not disputing that you are in debt. What you are disputing is the amount of indebtedness and the means being used to recover it.

 

So with that in mind, what the CCA request does it put the matter on hold, so that you can look into the matter of the amount of indebtedness.

 

The SAR request will then hopefully give you the information you need to accurately quantify what you owe.

 

 

I hope that some of the posts on this thread have not confused you. In my experience the majority of people on this site really do wish to help you.

 

kindest regards

krj8:D

Edited July 23, 2009 by karenruthj8
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