Nat west business loan - cant find agreement

[Jackien]

Re: Nat west business loan - cant find agreement

If you have sent a new SAR to them today then don't contact them at all until after you receive the response to the SAR.

Is it possible that, when you took the payment break, someone at the bank disposed of your file by accident?

It may well have been lost as you had to contact them to resume paying the loan after the break so I would wait for the SAR.

Good Advice, thank you and yes I agree that that the file has gone AWOL somehow.

[Amethyst]

Re: Nat west business loan - cant find agreement

http://www.thisismoney.co.uk/money/a...acts-they.html

Good point. I didn't put two and two together with Paul's case. Daft of me. I really hope I have made the SAR strong enough to get this info out of them, although I doubt they would be so lax in sending evidence of their malpractice to a customer again. Possibly ask Sparkie or Paul to have a look once we have the SAR back.

As far as I am aware from the thread Natwest have not given a settlement figure at all and if they did it would be nigh on impossible to validate it's accuracy without any idea of terms.

The bit I am a little concerned about is their solicitor threat letter stating payments had been returned since April 2010. Jackien has continued making payments at the sum they gave her following the break, and has she actually been defaulted and IS the loan in collections ?

[IanM]

Re: Nat west business loan - cant find agreement

They get 40 days to answer an SAR 200k at about 3% would cost the OP about £650 in interest in that time.

Just a point

I didn't say don't pay them the regular payments I just recommended not speaking to them about anything else until the SAR has been fulfilled and see what they can respond with, no file, no claim.

No proof that the amount claimed is the correct amount, interest being added to the arrears, at what rate?, in accordance with the original terms?

Even if they attempted to recreate the original loan agreement, first they would have to ask the courts permission to do so and they would also have to give an explanation as to why they don't have the original, I can't see staff incompetence being a valid reason to allow a loan recreate so what else can they do?

The client would still dispute the amount given on the grounds that they 'believe' it may be incorrect as per the original terms and we go round the roundabout again re the 'non existent' original agreement!

They could even contest the accuracy of the £650 interest for the 40 days waiting for the SAR.

The OP seems to be in the driving seat at the moment but they should be very careful what they write to the lenders in case they make themselves liable for the debt in other ways.

[Jackien]

Re: Nat west business loan - cant find agreement

A reply to the SAR request today saying that they can not find any account for me with the info that I gave them. They have asked if I had a credit card with them as this may help in tracing me! I didn't. So will wait for the 40 days to be up and ask your advice again. Kind regards Jackien

[IanM]

Re: Nat west business loan - cant find agreement

A reply to the SAR request today saying that they can not find any account for me with the info that I gave them. They have asked if I had a credit card with them as this may help in tracing me! I didn't. So will wait for the 40 days to be up and ask your advice again. Kind regards Jackien

That throws a spanner in the works for them then.

They have responded within the 40 days and cannot find your account, that is their final response.

Help them in tracing you? Pull the other one, it is the lenders responsibility to know where there customers accounts are not yours so just provide them with details of the actual account that is in dispute and leave it at that.

If you provided them with your name, address, and account number for the mortgage account they are collecting money against yet they have no paperwork to prove you have to pay the money then it would be very hard to repossess your house unless they have this proof to present to a court.

Do they even have a record of what you have been paying since you resumed payments and what dates?

Seems odd that they are collecting money from you with no account information to allocate the payments to and not keeping any record of it.

I would write to them telling them you are suspending any payments to them until such time they can produce the account information you have requested and that until you receive it you will not accept any interest or fees and charges being added to the account.

Instead of paying them the money I would open a new bank account and pay it into there until such time they can provide you with the information you have asked for, and then find a solicitor to have a look at the case for you to establish whether the lender has any claim against you at all that would be successful in a court.

In my opinion, if they did have a leg to stand on in court they would have issued proceedings by now!

[Amethyst]

Re: Nat west business loan - cant find agreement

Mental. Where are you making the payments to and by what method?

[Amethyst]

Re: Nat west business loan - cant find agreement

Nat west can not provide me with a copy of my loan agreement, they want yo call in the loan. we are making monthly payments that they say will not clear the loan within. The timeframe that they think it should be cleared. Without the agreement how do we know how much we owe and by which date it should be repaid? Any help please?

Also how are they contacting you regarding calling in the loan?

If in writing what address from?

I have to say I disagree regarding stopping payments for now... if they want to call in the loan and are trying to make it difficult so they can repossess on non payment ... I wouldn't put it past them.

I'd certainly wait for the response from Edinburgh anyway and escalate to the ICO if no joy and you've given them all the info.

[Jackien]

Re: Nat west business loan - cant find agreement

Mental. Where are you making the payments to and by what method?

Hi Amethyst
£350 goes by dd - it says NWB on my statement - and the other £350 I make a transfer each month - on the same date as the DD (28th) to the mortgage account, so £700 total. I have it set up as regular payment, have just checked and it is a sort code and account number, which happen to be the same as the current account that I had with the bank, is that weird? I wonder what would happen if I didn't pay, as per Ians post? Shall we just wait and see if anything else comes within the 40 days, I cant believe that is their final response. 20 days to go!

[Jackien]

Re: Nat west business loan - cant find agreement

Also how are they contacting you regarding calling in the loan?

If in writing what address from?

I have to say I disagree regarding stopping payments for now... if they want to call in the loan and are trying to make it difficult so they can repossess on non payment ... I wouldn't put it past them.

I'd certainly wait for the response from Edinburgh anyway and escalate to the ICO if no joy and you've given them all the info.

The last time I heard was a phone call, I havent had a letter in regard to the loan for about 2 years and Im sure it was the letter discussed earlier in the thread. In the phone call it was acknowledged that I had made a complaint to the ombudsman and that she (the caller) would review the account when the outcome was heard from the ombudsman. The letter was addressed from an office in Telford which has since been closed down.

[Amethyst]

Re: Nat west business loan - cant find agreement

Hi Amethyst
£350 goes by dd - it says NWB on my statement - and the other £350 I make a transfer each month - on the same date as the DD (28th) to the mortgage account, so £700 total. I have it set up as regular payment, have just checked and it is a sort code and account number, which happen to be the same as the current account that I had with the bank, is that weird? I wonder what would happen if I didn't pay, as per Ians post? Shall we just wait and see if anything else comes within the 40 days, I cant believe that is their final response. 20 days to go!

Do you know why only half goes by DD?

Do you still have access to the current account?

Do you recall if maybe the loan was linked to the current account in a set off of interest type thing, like a ONE account? Where interest is set off against balance of current account.

[Amethyst]

Re: Nat west business loan - cant find agreement

Telford ? Have you read about Paul Walton's case at all?
http://www.legalbeagles.info/forums/...aul-Walton-FCA
Have Google of something like paul Walton Telford RBS ... you might find it interesting.


When was your last loan statement... if two years hence then looking at the FCA rules might be an idea.

[Jackien]

Re: Nat west business loan - cant find agreement

The last time I heard was a phone call, I havent had a letter in regard to the loan for about 2 years and Im sure it was the letter discussed earlier in the thread. In the phone call it was acknowledged that I had made a complaint to the ombudsman and that she (the caller) would review the account when the outcome was heard from the ombudsman. The letter was addressed from an office in Telford which has since been closed down.

Regarding the info I have given them I have not held back !! My full name, trading name of account and of course the address, which they have replied to with my full name all correctly spelt. The current account number and the mortgage account number with sort codes.

[Jackien]

Re: Nat west business loan - cant find agreement

Telford ? Have you read about Paul Walton's case at all?
http://www.legalbeagles.info/forums/...aul-Walton-FCA
Have Google of something like paul Walton Telford RBS ... you might find it interesting.


When was your last loan statement... if two years hence then looking at the FCA rules might be an idea.

I will look at that now, thanks as for the loan statement not since this all began, so more than 2 years ago.

[Jackien]

Re: Nat west business loan - cant find agreement

Thats outrageous!! seems its happened to quite a few. The plot thickens, maybe my turn to have a fictitious agreement next. Crazy Crazy!

[Jackien]

Re: Nat west business loan - cant find agreement

I will look at that now, thanks as for the loan statement not since this all began, so more than 2 years ago.

Need a bit more time to read all of the posts but interesting reading and I get the gist, what was the outcome?