Natwest - Extremely Unhelpful and Unfair (IMHO)

[Grey Dane]

Hi all, newb here, I have alot of probs with NWB ..... where to start.

 

Ok been with them for about 13 years (& every year they increased my o/d facility without asking).

 

About 5 years ago I wanted a small personal loan for house improvements etc.

They were eager to help & managed to talk me up from £3000 to £5000 (better interest rate & longer term) and suggested that I should have ppi.

 

2008 I went self employed at work - Nightfreight multidrop parcel delivery.

So I approached the bank who were again eager to help & set up a soletrader business account with an overdraft facility etc.

 

Long story short, the nightfreight work evaporated mid 2009 & I really struggled from then.

 

By Jan / Feb 2011 after a catalogue of disasters I decided to cease trading, get a job, sell the van, cut my losses etc etc.

By then my income was nil, personal a/c was at o/d limit £2500, business a/c was at o/d limit £8000 & there was nothing left to pay any bills or buy food etc.

I had to borrow off my parents (from their pension fund).

 

NWB business advisor was never available & wouldn't return calls.

Meanwhile, the charges, fees & interest just kept adding up.

 

In April I got a job (paying £6000 less thatn I earned 10 years ago!)

& went about shutting the business down.

 

Officially ceased from 30 Sept 2011, with only the last VAT return & income tax to sort - which won't be much.

 

Meantime, personal loan hasn't been paid & has £1500 outstanding cos nothing in personal a/c

- but charges fees & interest mean th o/d has gone to over £4000.

 

Business a/c is at £6000o/d (within the o/d limit) but the a/c is frozen. (the personal a/c has now disappeared from my online banking page)

 

October I spoke with NWB business collections & fully explained my situation to them & asked for their help in moving forward.

They went through my income expenditure & then told me that I didn't have enough to pay anything against my debt & gave my a month to "come up with an alternative"

otherwise they would "take action".

 

I've just received several letters "Formal notice of intention to file a default and to take action to recover the debt" from NWB

telling me that they are freezing & closing all my accounts (10 days after they actually stopped my debit card) and giving 28 days to pay up just under £12000.

 

I have sent a data request for the last 6 years on my personal a/c, as I intend to claim back charges/fees/interest etc. As a sole trader can I also do this on the business a/c ?

 

As regards their demands for debt repayment, what's my next move ??? - IVA ? Bankruptcy ?

Please advise.

TIA

G

[Grey Dane]

Anybody ???

[ims21]

Hi

 

I've changed the title of this thread slightly

 

The guys will be along as soon as they are available.

 

ims

[Grey Dane]

Hi

 

I've changed the title of this thread slightly

 

The guys will be along as soon as they are available.

 

ims

 

OK thanks

G

[dx100uk]

yes def get reclaiming!

 

could you not put in a claim on the PPI?

 

it seems to me you need to concerntrate on getting everything

in writing now only.

 

they've not and are not being at all nice to you here.

 

i'd even guess they are trying to cover things up too.

 

irrresponsible lending springs to my.

 

all they did was just put you in more debt

what they knew you could never repay if the truth were known

 

dx