Nationwide Current Account Default Notice

[ArclightUK]

Hi all

 

Can anyone help...I have been issued a DN by nationwide regarding an overdraft that was withdrawn and left my account overdrawn without agreement.

 

I heard nothing and life kind of took over, now after getting an income expenditure form (which I have yet to fill in) this DN has arrived? I have not sent any letters about freezing charges or interest (stupid I know) however I have been in contact. My husband and I are both seeking work after he was made redundant. We have 4 children and are just doing our best

 

What should I do next?

 

The overdraft is for £80

 

They are asking for £228.44 (charges etc)

 

Please what should I do?

 

Thanks

[marmaris30]

They have to issue a Default Notice before they can take any further action on the account. However the fact that you have been in contact counts in your favour.

 

The first priority should be to send a letter asking for charges and interest to be frozen, due to your husband losing his job leading to a low income. You could also argue that you should have done this sooner, and therefore the charges would not have arisen in the first place, and ask for them to be cancelled.

 

If you are in a position to make a proposal in the same letter then all the better. For example, since the original debt was £80, I think it would be reasonable to offer this in full and final settlement if able.

 

If not then you could offer maybe £100 over five months, assuming you're on a low income. The income and expenditure form they've sent is intended to help work out what you could afford, but you don't have to fill it in and especially if you take the initiative with a proposal to settle.