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old natwest and their refund of interest overcharged been applied to the debt

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  • old natwest and their refund of interest overcharged been applied to the debt

    Very very old loan from natwest - default gone and not with a debt collector.

    Natwest have out of the blue written and saying as they didn't send an NOSIA statement/or sent one with errors for a period 10-7-2009 to 2-5-2014 there was an over payment of 2239.35 in charges.

    They've refunded it - to the debt. Is this right - I don't get statements on this account and its not on my credit report. I couldn't even guess at the balance of it.

    Is it worth leave it be - or doing something. It's a lot of money that's all.

    Thanks

  • #2
    Originally posted by malamute View Post
    Very very old loan from natwest - default gone and not with a debt collector.

    Natwest have out of the blue written and saying as they didn't send an NOSIA statement/or sent one with errors for a period 10-7-2009 to 2-5-2014 there was an over payment of 2239.35 in charges.

    They've refunded it - to the debt. Is this right - I don't get statements on this account and its not on my credit report. I couldn't even guess at the balance of it.

    Is it worth leave it be - or doing something. It's a lot of money that's all.

    From what you say NatWest have remedied an error which may have made the debt unenforceable in court.

    It appears they did not comply with Section 86B CCA which is a statutory obligation to send you a Notice of Sums in Arrears at no more than six months intervals > https://www.legislation.gov.uk/ukpga...39/section/86B

    The bank also admit that they had made an error in their interest calculations so have credited that sum to the account.

    This was a loan and according to you it's been defaulted but it hasn't been terminated and assigned to a debt purchaser which is unusual.

    How old is the loan and when did you last pay anything towards it?

    Without knowing the full facts it's hard to make any suggestions but I wouldn't contact NatWest until your legal positon is established in case that prompts them to attempt to chase you for the debt.

    Is the history of this debt somewhere else on the forum?

    Di
    I am a Litigation Executive at Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at di@joannaconnollysolicitors.co.uk or by telephoning 0151 254 6986. Our initial advice is always free.

    Any posts I make on the All About Debt Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at https://www.citizensadvice.org.uk

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    • #3
      Hi there,

      Sorry for the delay - I've checked this and the debt has not been sold.

      Statements are received on Natwest Branded Letter head - and from the address "CMS recoveries branch" in Birmingham. It's not being reported on my credit report. Recent statement states "AGT Loan Refund" for the 2239.35 as per the letter.

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