Natwest V Womble28 Loan and overdraft repayment demands

[womble28]

Hi all,

Hoping for some advice here.

I have banked with Nat West for 19 years and have an advantage Gold Account with overdraft facilities and a personal bank loan. Never having had any issues with the bank previously, after being unemployed for 14 months following redundancy my loan protection insurance has now ended and the bank are demanding that payments be reinstituted with immediate effect. I have been unable to meet these for the past two months and the bank are now calling in the loan under a default notice by 9th April if arrears and charges are not paid. They are threatening court action in the event that payment is not received by that date.

My Advantage Gold account has been operating on an overdraft facility of £1500 and their charges have now taken this to £1681.50 (over the limit) They are now demanding the total be repaid immediately (as the overdraft is payable on demand) and failure to agree to this will result in termination of my account and subsequent court action. They have already cancelled my cheque card and asked for any cheque books to be returned immediately.

They are suggesting I make an alternative agreement for repayment, however they are demanding far more on a monthly basis than I'm currently able to afford on benefits. and their charges are more than the benefit I am receiving.

Would I be able to make a nominal gesture payment to the bank for both the overdraft and the loan until I return to gainful employment and in the event they do not accept, what are my alternatives?

Thanks for any help and advice here. These people are getting really Sh....ty and they do not want to help at all. I am suffering extreme financial difficulties and they won't listen. Please help. :cry:

Regards

Womble28

[natweststaffmember]

Re: Natwest V Womble28 Loan and overdraft repayment demands

Can I ask whether you use any benefits of the advantage gold account which is costing you over £150.00 a year?

[womble28]

Re: Natwest V Womble28 Loan and overdraft repayment demands

No, haven't used them at all in the past eighteen months

[natweststaffmember]

Re: Natwest V Womble28 Loan and overdraft repayment demands

No, haven't used them at all in the past eighteen months

We can save you £150.00 a year straight away by cancelling the Advantage Gold. I suspect you may have used it for the loan, btw but if they say they have to re do the loan, ask them for the term in the loan that states they can renegotiate the loan by cancelling advantage gold facility on the account(it is an extras so get them to change it to a current plus)