Natwest Overdraft

[fleaboobash]

I couldnt afford to pay the fees on my £3000 overdraft so opened another bank account with Nationwide and started using that. I wrote to Natwest to say that I couldnt afford to keep my account running and would they freeze any charges and let me repay it bit by bit. Natwest sent me a letter saying that interest and charges would continue to be accrued and that I should fill in a statement of my in-comings and outgoings and an offer of repayment which I did by return of post.

I offered to pay back £10 a week which I thought was fair when I am left with only £24.50 free cash each week. I will be a full time student in September working one day a week with 3 children to support.

The letter I recieved today said that my offer was unnacceptable and that default notices were being issued and that their debt recovery would be in touch in due course.

 

What do I do next? I cannot afford to pay them any more, and interest and charges are still being racked up!

I just don't know what my next move is. I know £3000 is alot of money to owe but I thought £10 a week is better than nothing?

[JoannePettie]

Hi fleaboobash

 

I had the same response from NatWest as well, declining my initial offer of £5pm.

 

I just wrote back and said that was all I could afford, and they agreed to it.

 

I would write back and offer them realistically what you can offer them, even if it is just £1pm you are making the offer to them and its for them to turn down.

 

As far as I see it any amount is better than none. There are probably others that can advise you better as to the exact things to do next, but this would be a start at least.

[fleaboobash]

Thanks for replying! I phoned Natwest again last night and explained that it really is all I can afford and they said they couldnt accept an offer as low as that. They said to wait until I was contacted by Debt Recovery and offer them whatever I could afford. Thanks!

I got my Default Notice yesterday too

Oh well such is life.