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Added to Natwest Joint account, now in default and being pursued by debt company

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  • Added to Natwest Joint account, now in default and being pursued by debt company

    Hi

    My partner had a private bank account with Natwest. It was his sole account and had a 15k overdraft limit on it.

    I was added to the account in Sept 2001 when we bought a house together and at the time I was added the account was -7k.

    The account had over the following years been operated solely by my partner since it was actually only his account, I never knew the login details, pin numbers, never signed any cheques, never attended any meetings with bank managers nor was requested to do so.

    I ran my own account, had my own business and really never got involved in it.

    Sometime in 2007 my partner arranged a dollar account in his sole name with Natwest to enable him to trade currencies. This enabled him to transfer large sums of money back and forth between the accounts. I was never involved in any of those conversations with the bank manager.

    Anyway, the account had literally 100,000's of thousands in and out of it, not one transfer was ever authorized by me. Anyway, in December of 2008 a transfer came into the joint account that left it 30k in credit, and then a 43k transfer was authorized by my partner to go to the dollar account in his sole name, leaving us 13k overdrawn. Unfortunately in December of 2008 the company he did the trading with Crown Forex, went into liquidation and so he lost all the money. He was then effectively redundant and got very depressed and everything went to pieces, he continued to use credit cards to pay our bills, I really never realized nor did he tell me just how bad it was, until the cards ran out and he was up against the wall.

    During this time my partner continued to run the account at that overdraft level, eventually because the money run out the bank started to call him in for meetings about the joint account, I was never asked nor attended any of these.

    The first I actually got involved was when I got a letter from Triton Credit telling me I owed 35k. They had closed the dollar account and lumped the money owed on that account into the joint account. I appealed the dollar debt and they took it off my debt, but are now taking me to court for 14k which is the debt now on the joint account.

    My question is, do I have any case to fight on this, given the circumstances. And if I do has anyone got any advice on what I should put on my claim. I would appreciate any help you can give on this.
    Tags: None

  • #2
    Re: Added to Natwest Joint account, now in default and being pursued by debt company

    This is an unusual one and I can't easily answer, though others might know more.

    My initial reaction is that as it was a joint account you will be held liable and no argument about lack of access will work in court, unfortunately. There is an old saying that a joint account says far more about commitment in a relationship than a wedding ring, and I think that's true in many cases.

    Can you state if NW have been unreasonable in the way they have dealt with you at all? Also, did they place charges on the account for overlimit or late payments?

    Comment


    • #3
      Re: Added to Natwest Joint account, now in default and being pursued by debt company

      Hi

      I dont think they applied any charges to the account until it went into default. The problem is whilst it was joint in name, it just was not my account. I had my own accounts and this was only done for a mortgage, after which I never even looked at it.

      NW havent dealt with me ever about this account, they always spoke to my partner about it. It is an unusual one, because it was all set up, overdraft agreed, handled and managed by my partner.

      Comment


      • #4
        Re: Added to Natwest Joint account, now in default and being pursued by debt company

        Did you ever get asked to sign a Personal Guarantee when you joined this account. Was your mortgage/home in any way connected to this account~?
        "Although scalar fields are Lorentz scalars, they may transform nontrivially under other symmetries, such as flavour or isospin. For example, the pion is invariant under the restricted Lorentz group, but is an isospin triplet (meaning it transforms like a three component vector under the SU(2) isospin symmetry). Furthermore, it picks up a negative phase under parity inversion, so it transforms nontrivially under the full Lorentz group; such particles are called pseudoscalar rather than scalar. Most mesons are pseudoscalar particles." (finally explained to a captivated Celestine by Professor Brian Cox on Wednesday 27th June 2012 )

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        • #5
          Re: Added to Natwest Joint account, now in default and being pursued by debt company

          How much do the charges add up to?

          As NatWest are part of RBS they were different from the others involved with the Test Case. There is a chance that these charges could be introduced as part of a counterclaim as you have nothing to lose.

          Comment


          • #6
            Re: Added to Natwest Joint account, now in default and being pursued by debt company

            Hi

            I think the charges on the account amount to about 500.00 since the debt was 13.5k and now its 14k. The account wasnt connected to the mortgage, that was through Cheltenham and Gloucester, but we must have needed a joint account for it as there was no other reason for me to go on my partners account.

            I am not sure about the personal guarantees, I really think I need to ask them for a copy of the paperwork relating to me being added, because the account was already 7k overdrawn at that time, so I dont think I would have knowingly signed myself up to cover half that debt.

            The bank themselves always operated as if the account was still only my partners, as I said they never asked me to come in and talk to them nor mentioned the account to me. I just wonder if its the debt company making assumptions here.

            Comment


            • #7
              Re: Added to Natwest Joint account, now in default and being pursued by debt company

              It will be very interesting to send SAR to get all the personal data they hold on you, for the fee of £10. That should reveal a lot of interesting data about how the account was operated and there may be interesting details if they didn't communicate with you even though you were a joint holder.

              SAR will also reveal the details of any charges added and things like the transfer to the DCA. I would send SAR now and you can tell the Triton that you are awaiting statutory access to data.

              What do you mean "Taking you to court"? Please detail what has happened.

              Comment


              • #8
                Re: Added to Natwest Joint account, now in default and being pursued by debt company

                Hi

                They have commenced proceedings against me for 14k, I need to ask for more time to look into this, how do I ask them for an SAR is there a particular form I need?

                Thanks in advance

                Comment


                • #9
                  Re: Added to Natwest Joint account, now in default and being pursued by debt company

                  Interestingly they have not commenced proceedings against my partner whose account it is..

                  Comment


                  • #10
                    Re: Added to Natwest Joint account, now in default and being pursued by debt company

                    The SAR should go immediately to the original creditor, not the DCA, but they have 40 days to respond. That could be one argument for an extension.

                    Please provide more details of the court claim as answers will always depend on the specific details. What is the timeframe for the courts amd what exactly does the POC state on the form?

                    Comment


                    • #11
                      Re: Added to Natwest Joint account, now in default and being pursued by debt company

                      Hi

                      I have now filed a defence, and sent a copy of the SAR request to the court. I have sent the SAR to Natwest direct, not the DCA as advised. The claim simply gives an account number and sort code and states that the claimant is the holder of a consumer credit licence and that the defendant has failed to repay and/or the default notice has not been complied with.

                      It says the amount claimed includes accrued interest at the relevant rate (contractual) from the date of the demand/termination date to the date of issue.

                      Comment

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