Seriously need some help

[Msu]

Dear All

Without going into the whole saga with Natwest, I am looking for some sound advise on the following:

my late husband took his life over this and I want some dialogue with Natwest and in almost 4 years, I am no wiser about my rights in finding out what contributed to this.

There is a charge on the business he owed, I have since his death being trying to get information on the loans, overdraft. I have contacted Natwest to no avail, all I have is a 15 day notice seeking possession.

I am executor of his estate, my questions:

- Is the bank obliged to give me information on the outstanding loans?
- can I ask for information relating to the accounts? ie why the loans were called in?
- are they within their right to not provide any information
- all the loans overdraft etc were solely in my late husbands name, except one account which was not linked to the business but a personal account we held together, are they allowed to group this into the charge when it was not registered at the business address?

I have a whole load of other questions, but I think I will be here all night.

Thank you for the help

[des8]

Re: Seriously need some help

Hi and welcome.
Condolences on your loss, and how distressing to have this problem on top.

Is your late husband's business in administration?

If it is, Sec 15 of the Administration of Estates Act 1925 applies:
"Where administration has been granted in respect of any real or personal estate of a deceased person, no person shall have power to bring any action or otherwise act as executor of the deceased person in respect of the estate comproisedi or affected by the grant until the grant has been recalled or revoked"

If it is not Sec 25 of the act imposes a "duty to..... when required to do so by the court, exhibit on oath in the court a full inventory of the estate....."

Now if the bank are not co-operating,you will not be able to comply, so I would suggest an application to the court for an order forcing disclosure by the bank.

You said there is a "15 day notice seeking possession".
This is from the bank looking to take possession of the business premises on which there is a mortgage?


.

[Msu]

Re: Seriously need some help

Evening Des8

thank you for the response, the bank 'called in' two loans, an overdraft and a current account all relating to the business, in November 2012. Without any explanation just issued letters stating the accounts are no longer active.

Now all I have been trying to is get into some dialogue, but NatWest will not comply with my request to why the loans were called in or give me copies.

When you refer to the mortgage I am assuming the commercial loans are the mortgage.

thanks again Msu

[des8]

Re: Seriously need some help

Just to get it straight:
Were the commercial loans secured on premises?
If so were the premises owned or leased by your husband?
All loans and accounts were frozen and called in about a month prior to your husband's passing?
As bank are not communicating with you, I assume you do not know if the overall balance was debit or credit?
Within your husband's papers did you find a copy of the loan agreements?

As executor (named in your husband's will?) have you obtained a grant of probate?


The terms and conditions of your joint acount probably allowed the bank to set off against the loans etc.
Banks called in a number of loans over a 6 year period following the 2008 financial crash.
This was because of the new requirement that banks set aside 4.5% of their net worth as liquid capitalby 2019.
This might have been the trigger to calling in your husband's accounts

[Diana M]

Re: Seriously need some help

Without going into the whole saga with Natwest, I am looking for some sound advise on the following:

my late husband took his life over this and I want some dialogue with Natwest and in almost 4 years, I am no wiser about my rights in finding out what contributed to this.

There is a charge on the business he owed, I have since his death being trying to get information on the loans, overdraft. I have contacted Natwest to no avail, all I have is a 15 day notice seeking possession.

I am executor of his estate, my questions:

Hello Msu

My first question has be is there an application for possession (proceedings) with a hearing listed in 14 days? Or have you received a Letter Before Claim from NatWest threatening legal proceedings in 14 days if you don't respond (i.e. dance to their tune)?

I may be able to answer your other questions once you've answered mine.

In the meantime I can say that as executor of the Will you have every (legal) right to information. You have effectively stepped into his shoes (legally speaking).

I'm so sorry you have to deal with this battle after the loss of your husband which you believe was a contributory factor.

Let's see if the tables can be turned.

Di

[Diana M]

Re: Seriously need some help

the bank 'called in' two loans, an overdraft and a current account all relating to the business, in November 2012. Without any explanation just issued letters stating the accounts are no longer active.

Now all I have been trying to is get into some dialogue, but NatWest will not comply with my request to why the loans were called in or give me copies.

Did you (as executor) send a formal s.77 CCA Request in relation to the loans?

Di

[Diana M]

Re: Seriously need some help

There is a charge on the business

Does that business still exist as an entity (directors/shareholders)?

Was it a limited company or was it a sole trader business?

Di

[Diana M]

Re: Seriously need some help

Without going into the whole saga with Natwest . . . .

. . . . There is a charge on the business

. . . . but I think I will be here all night.

Feel free to go into the whole saga and feel free to ask questions all night

My final question (tonight) is please clarify if any potential (or perhaps already commenced) possession proceedings are on your home where you currently live?

Di