tag:blogger.com,1999:blog-1141932539860553199.post7269689322625180496..comments2024-03-05T10:52:24.691+00:00Comments on Mark Wadsworth: Financial Contagion (2)Mark Wadsworthhttp://www.blogger.com/profile/07733511175178098449noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1141932539860553199.post-10026158672368201712016-10-13T08:03:17.214+01:002016-10-13T08:03:17.214+01:00L and B, thanks for anecdotal. What limited experi...L and B, thanks for anecdotal. What limited experience I have of RBS is that they treat small businesses like shit.<br /><br />S, which is a nice position to be in! But better to be in business using bank money than not be in business at all, that's the point.Mark Wadsworthhttps://www.blogger.com/profile/07733511175178098449noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-36931528088823127982016-10-13T07:57:53.849+01:002016-10-13T07:57:53.849+01:00Which is why we have paid out all our debt.Which is why we have paid out all our debt.Shineyhttps://www.blogger.com/profile/13281261419328886986noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-60827705226327680112016-10-12T18:36:23.897+01:002016-10-12T18:36:23.897+01:00I have a similar story about Naziwest. My brother...I have a similar story about Naziwest. My brother made an agreement to pay off a loan from them at a fixed sum every month, which he was going to pay by standing order. Because of a delay by Naziwest in setting up the standing order (this was in pre-internet days), the first payment was late, and Naziwest duly fined my brother, but didn't inform him they'd done so. This meant that the payments now didn't clear as much of the debt as they should have done and so he was fined again, every month and charged interest on the fines. When the original debt had been paid off, the standing order expired and Naziwest wrote to my brother asking what he was going to do about paying off the remaining debt, now in the thousands. My brother refused to pay anything, saying it was all spurious, but the bank refused to back down and went on harassing him and racking up the debt. As a family, we held quite a large number of accounts with that branch of Naziwest and we were on the point of going into the bank en masse and cancelling our accounts when they caved in. It was a pity, really, I was looking forward to seeing the manager's face.Bayardhttps://www.blogger.com/profile/15211150959757982948noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-10551839005344981152016-10-12T18:18:29.418+01:002016-10-12T18:18:29.418+01:00Also, in Re RBS in their Natwest guise, I had a &#...Also, in Re RBS in their Natwest guise, I had a 'client' (not householders, tenants) who'd got into a bit of cashflow issues and were having grief from bank. Can't remember exactly when this was but pretty sure it was pre 2008. It was clear from the bank statements that Natwest were deliberately compounding charges on charges to create a larger debt. My guess is that by doing so the tax break on writing off the debt would cover the true sum outstanding - actually very little indeed. About 500 quid from memory. Which got to thousands.<br /><br />I go the authority for the debt collectors to speak to me. I also got a draft letter off the interweb that the clients sent to the debt collectors to say that they were being harassed unfairly and that if the debt collectors didn't cease and desist then we would see them in court.<br /><br />The debt passed for spurious agency to spurious agency as it was sold on. I had several calls with nasty people whom I cornered with the numbers and the letters from the client. This went on for a couple of years.<br /><br />The debt was eventually written off in full and the clients credit history cleared.<br /><br />RBS / Natwest were absolute bastards throughout. Don't get me wrong, people should pay their debts, but this case was a revelation.Lolahttps://www.blogger.com/profile/04586735342675041312noreply@blogger.comtag:blogger.com,1999:blog-1141932539860553199.post-48721580568424687942016-10-12T17:54:38.546+01:002016-10-12T17:54:38.546+01:00Oooo. Better than that. Working for Barrat's...Oooo. Better than that. Working for Barrat's as a house dealer in the late '80's I came across several houses bought at a knock down price from the institution that has repossessed them - by directors of that same institution - who then re-sold/rented out. Not saying which institution - don't know who's listening...Lolahttps://www.blogger.com/profile/04586735342675041312noreply@blogger.com