Help!!!!

[saffy09]

Hi. I have received a letter from Nationwide saying they will be withdrawing my overdraft due to poor management of my account ( never been over the limit) They want it paying back in full next week!! I contacted head office who said that if it is not paid i will occur charges and 18.9ear. I contacted my branch manager who sent me my application and on the box of overdraft facilty i have ticked no, but must have applied at a later date for the overdraft facility. My branch manager has said i have not signed anything for the overdraft and you do not need to. The overdraft is only for £250 but im on sat maternity pay at the minute and cannot afford this. Im happy to pay the overdraft back but not at once, and i dont want charges and high intrest rates. Collections department talk to you like dirt!! Any suggestions as what to do?? many thanks

[mr.ton]

Refuse to answer security questions if they ring you for starters

[saffy09]

I have just stopped answering the phone now. I wonder if these people work on a commission basis?

[ScabHunter]

The first thing you absolutely must do is get a basic account with a bank which is totally unrelated to the Nationsnide and get your income paid into there. Securing the income you currently have is always the first essential.

 

SH

[Undercover-Elsa]

Normally if you contact them and explain your circumstances and ask for it to be deferred or reduced by, say, £20 each month they will consider your appeal. However the banks seem to be increasingly aggressive and less cooperative nowadays so that might not work anymore.

Definitely get a parachute account!! There's still quite a few basic accounts (no overdraft hence no credit check, usually) with a visa card and dd facilities, then transfer your maternity pay asap.

If they insist and it will leave you short for essential bills before you manage to change over, then you may be able to send them a letter of appropriation in advance of your money going in. I'll get you a link for that if you need it.

Once you've transferred then you're in a stronger position to negotiate with them on a repayment method.

Elsa x

[Undercover-Elsa]

Here's the letter, in case it's needed:

 

First Right of Appropriation

Dear Sir/Madam,

ACCOUNT NUMBER: xxxxxxxxx

 

I am writing to inform you that I am due to have a Maternity payment of £xxx paid into my account on xx/xx/xx, and I wish to use my first right of appropriation for this money, for the following priority payments:

Rent £xx

Utility bills £xx

Housekeeping money £xx

I will withdraw the money on the day that it is deposited for the above use, and I would be grateful if you would ensure that any other payments out of my account do not interfere with this withdrawal.

 

Yours faithfully,

[saffy09]

Thank you for your help. I have now got a plan set up reducing my overdraft by £20pm. You are all such nice helpful people and have helped me through a lot so thanks again for all you advice. Saffy x

[Undercover-Elsa]

Well done you!!!

Always nice to get a result, thanks for letting us know Saffy

 

Elsa xx