NatWest statement

Panorama: Can't Pay, Won't Pay featured an interview with Mike Henderson who after missing payments for a personal loan with NatWest was threatened with an order for sale by the bank. He decided to put his house on the market voluntarily and his creditor agreed to halt the forced sale. Below is NatWest's statement on this case:

"In 2004 Mr Henderson's loan and overdraft applications were agreed by NatWest following robust affordability checks based on his income and account activity. In February 2005, Mr Henderson ceased all payments on his loan and credits to his accounts to service his overdrafts were reduced significantly. From this point on we gave him ample opportunity to reach a reasonable monthly re-repayment plan with the Bank. He did make an offer of a minimal repayment amount in September 2005 which we did not accept based on the content and assessment of his income and expenditure report, which Mr Henderson supplied."

"Almost three years after he initially fell into arrears, and without a suitable repayment plan in place, we were left with no alternative but to apply for a charging order. However, this action was halted once Mr Henderson confirmed he was selling his property. Despite the fact that he hasn't sold his property, we have not instigated any further action as Mr Henderson is now paying off his debt at an increased rate which is acceptable to the Bank. It is always our desire to work with our customers to find a mutually acceptable way forward."