Nationwide Flexaccount Overdraft

[Fleabite]

Hi

I have an overdraft of about £3,000 with Nationwide. I have offered them £15.33 a month (based on a pro rata distribution) and asked them to stop interest and fees. I sent them a budget sheet showing my situation.

However, they want me to pay £10 each month to reduce the overdraft to nil, which is fine. BUT they won't stop the monthly interest and charges, £63.00 this month so each month I will be getting more and more into debt instead of reducing it. I cannot afford more than the offered sum without reducing the amount to my other creditors, all, apart from one (guess who, Nationwide CC) , have accepted my offer.

I have another bank account which I am using for all my transactions, so I don't use the Nationwide account and I am quite happy for them to have my cheque book and card (which they are threatening me with a home visit to collect these). In fact, should I send them to them anyway to show that I have no intention of using the account?

I would be grateful for any advice regarding the best way to handle this.
:confusing
Many thanks
Fleabite

[MrsD]

Re: Nationwide Flexaccount Overdraft

Complain Fleabite, complain. Go to the FOS, they HAVE to try to help you when you are in hardship, making you pay off a debt for the rest of your natural life is not helping. Complain to Nationwide, then complain to the FOS. The more people complain, the more likely these muppets will play nicely, at the moment, they just do what they can get away with, don't lie down and let them walk over you, sit up and bite!

[roomtobreathe]

Re: Nationwide Flexaccount Overdraft

My Nationwide CC and overdraft are among my 9 debts. I thought that not being a bank would make them more sympathetic. How wrong I was!

Doesn't help you fleabite but it does get it off my chest! mile

As evenlessdopey has said, the complaints procedure and the FOS may be the best option.

[Never-In-Doubt]

Re: Nationwide Flexaccount Overdraft

Or you just stop paying until they sell the account to a DCA at which point you'd be able to negotiate with them slighter easier.....

[Fleabite]

Re: Nationwide Flexaccount Overdraft

Hi

Thanks to everyone for their replies.

I was thinking about going down the FOS route but they take so long!

I really don't mind paying what I can afford to reduce the overdraft as long as they don't keep heaping the charges on me which makes it worse each month therefore I am just chucking money away.

Niddy:
If I do stop paying anything and let it be sold on should I send a letter to Nationwide about it?

Thank you all for your help.
FB

[Fleabite]

Nationwide Credit Card Default

This post was merged from a previous thread!

Hi All

I have received a Default Notice from Nationwide CC Services.

I have been paying approximately £22.00 each month since September instead of what was initially about a £120 minimum payment. The outstanding balance at the time was about £4,400.

I have written to them at least 3 times saying this was all I could afford, and sent them my budget sheet each time. I also explained that I have no assets as I do not own any property nor have a car.

However, all they have done is send me statements heaping fees and interest on the balance and warning letters about the default. Obviously, they keep asking me to phone them and also phone me several times a day, but I screen all my calls now.

Unfortunately, I have only had the card for about a year so I know it is enforceable.

Could someone please give me some advice on how to proceed now? I really don't see the point in paying each month when I am just getting further and further into debt. However, if they do take me to court how would a judge view non payment of any kind?

My other creditors have been fairly understanding - it's only the 3 accounts I have with Nationwide who are causing problems, despite the fact I have banked with them for over 12 years. :what Needless to say I have another bank account now and would never go back to them.

Thanks for any advice.
FB

[MrsD]

Re: Nationwide Credit Card Default

Hi Fleabite

nationwide have a duty to treat you fairly as you are in hardship. The default is a consequence of you reducing your payments, in effect you've defaulted on the contract and they are entitled to register a default, I just wallpaper the downstairs loo with ours, so try not to worry about the default.
With regard to nationwide's stance, I would have a look at the FOS site, when we were originally on a DMP I had similar trouble with Amex, reported them on the phone to a chap at the FOS, I won, Amex had to refund all the interest and take the payment we were offering, also had to pay me £50 compensation. It was a simple thing to do and worked beautifully, I discovered UE shortly after, and Amex is UE, so I loved telling em to piss off in the end. Have a read at the FOS site and give em a phone, it can't hurt and it may help. Good luck

[roomtobreathe]

Re: Nationwide Credit Card Default

They've just defaulted me as well for my credit card, about £8k on the balance and rising as they're piling on the interest and charges.

Not a lot can be done. As evenlessdopey has said, they have a right to do such a thing as you've defaulted. I expected more generosity and time from the Nationwide but they're as bad if not worse than the rest of them.

[Never-In-Doubt]

Re: Nationwide Flexaccount Overdraft

Niddy:
If I do stop paying anything and let it be sold on should I send a letter to Nationwide about it?

Hiya

Nah - if you decide to cease repayments then just do that - don't tell nationwide. However you will get defaulted, that is to be expected - but no big deal if you're not looking for credit in the near future!

[Never-In-Doubt]

Re: Nationwide Credit Card Default

Why the duplicate thread?

Ive now merged both together into the one thread!

[Fleabite]

Re: Nationwide Flexaccount Overdraft

Hi All

Thanks for your answers.

Niddy, I started another thread as Nationwide Bank accepted a reduced payment on the overdraft, but they said they would continue to heap fees and charges, but did not say they would default me.

Whereas Nationwide Credit Card took no notice of my offer at all and went straight for a default, so I tried to keep them under 2 categories ie banks and defaults. I was trying to be too clever eh!

Evenlessdopey - thanks for the tip about the FOS route and the novel wallpapering idea. Seems a shame to waste all those trees! mile

Roomtobreathe - thanks for sharing with me that I am not the only one having problems with Nationwide. So much for the caring persona they advertise! Are you paying anything on your credit card now they have defaulted you? My intention is to stop paying to both Nationwide Bank and Credit Card and see what happens. I'm fed up with all this :what and not getting anywhere except deeper into debt. I might as well keep the money I was struggling to find each month and finally buy that Ferrari as obviously they know I have much more money than I am letting on! nah

New Year, new stance and Niddy and others to advise.

[MrsD]

Re: Nationwide Flexaccount Overdraft

fleabite

It doesn't matter how long it takes, if you are going to have all the charges refunded anyway, just make the phone call, remember all these complaints are logged, name and shame!

[Fleabite]

Re: Nationwide Flexaccount Overdraft

Hi all

Just an update to say I have had some success with my Nationwide overdraft.

As suggested by Evenlessdopey, I threatened them with the FOS. They wrote back saying that they would accept £10 per month for at least the next six months and would freeze the interest from then on, but could not credit the previous interest and other charges as 'they were already in the system before my offer was accepted!'

At first, I thought as they had now frozen the interest and charges I would not take it further. Then I had another thought (2 in one day - I hope it doesn't get to be a habit!) I wrote back to Nationwide explaining that I had originally written to them back in September when I was having difficulties enclosing my budget. Due to no response I wrote 3 more times again explaining the situation.

I believe it was only when I threatened FOS they gave me the first option as above, hoping I would accept it. However, I said that although I would accept the £10 per month offer I was still going to the FOS because I had informed them several times of my circumstances and they did nothing about it.

Lo and behold I received a letter saying that they would credit my account with £185 to cover the fees and charges since September (funny how they can alter 'the system' to suit them).

So, thank you Evenlessdopey for your advice. It seems that even the threat of FOS can work wonders - at least for Nationwide.

FB

PS Just need to sort out Nationwide loan and credit card - oh well one thing at a time!
PPS Seem to have lost any smilies available except for my message one

[roomtobreathe]

Re: Nationwide Flexaccount Overdraft

Roomtobreathe - thanks for sharing with me that I am not the only one having problems with Nationwide. So much for the caring persona they advertise! Are you paying anything on your credit card now they have defaulted you? My intention is to stop paying to both Nationwide Bank and Credit Card and see what happens. I'm fed up with all this :what and not getting anywhere except deeper into debt. I might as well keep the money I was struggling to find each month and finally buy that Ferrari as obviously they know I have much more money than I am letting on! nah

New Year, new stance and Niddy and others to advise.

What a result with the refund on the charges!

Why they couldn't have behaved decently at the beginning I don't know. Well I do know, they're thieving barstewards and will try and get away with what they can, relying upon people's ignorance of the law and industry standards of behaviour.

I think I may be getting in touch with NW over my overdraft what with the interest and the charges!

As to the quoted, I've been on a DMP with CCCS so am paying on the overdraft and the cc.

My cc is likely to be UE because of the date but to be honest I'm a lazy so and so and the thought of having to go on my own with a DMP rather than the CCCS does get to me. Plus I suppose I'm still living some alternate universe where thinking that it's my debt somehow negates the creditors behaving like pirates.

One day though!

[roomtobreathe]

Re: Nationwide Flexaccount Overdraft

PPS Seem to have lost any smilies available except for my message one

If you look in your control panel you can set the editor to be a full what you see type so you'll get the smilies back.