To claim or not to claim?

[PaddyMac]

Hi all,

Fantastic site, could you give me a little advice please? I have been searching the forums with regards to overdrawn accounts. My current account with Natwest is overdrawn to the tune of 1800 pounds. If I put a claim in are Natwest simply going to close the account and chase me for my debt.

Maybe I would only be liable for a 200 pound refund leading Natwest to close my account and demand 1600.

What do you think?

Thanks for your time.

Paddy

[sineadB]

The first thong to do Paddy is your SAR, asking for your statements.The templates are on here.Donr forget to enclose £10.00 potal order or cheque with this.
Then total your charges.
Take time in going through the site and read other peoples experiences and you will be amazed at how helpful people are.

Good luck, please ask if ye have any problems

[PaddyMac]

Hi Sinead,

Thanks for your reply what I am worried about is whether requesting statements in this way will encourage the bank to close my account and pursue me for my debt. If they only owe me 200 pounds and I owe them 1800 that kind of puts me in the proverbial. What do you think?

I am confused!!

[Sim]

Just by requesting your statements will not mean they will do anything with your account - at least when you get them you can see how much you can actually claim and then take the decision.

[PaddyMac]

Ok will do thanks for the reply Sim. I may send the older version of the form without the sentence that says ' due to massive media attention it would be better for you to refund me now ' #paraphrase#

Thanks again

[GowerGal]

Hi Sinead,

Thanks for your reply what I am worried about is whether requesting statements in this way will encourage the bank to close my account and pursue me for my debt. If they only owe me 200 pounds and I owe them 1800 that kind of puts me in the proverbial. What do you think?

I am confused!!

Hi Paddy

The general advice given in situations like this is to open a parachute account so that at least you will have an active account that you can have wages paid into, change direct debits etc. It might be that you won't have to use it but it's there in case you do!

With regards your charges being less than your overdraft and them closing your account, I'm pretty sure that they wouldn't do this as it is frowned on heavily by the FOS as it is seen as being retaliatory, and there are strict lines the banks etc have to follow. I'm sure one of the mods will double check that for you anyway.

My advice - GO FOR IT - it's your money anyway, so even if the charges ARE less than your overdaft, the main thing is that it will be reduced therefore helping you on your way to becoming debt free - which is what we should all aim for eh! WINNER whichever way you look at it!

Best wishes
Kay