How can we help you?

Why has my account been sold to a debt purchaser?

We understand that people’s circumstances change, and life events happen which may impact your finances. There are a few reasons why your account may have been sold to a purchaser, some of the most common reasons are listed below:

  • You are in arrears with us
  • We have not been able to contact you
  • We have not been receiving payments towards your outstanding balance

It's quite normal for banks like us to work with debt purchase partners and this isn’t something that you should worry about. All our partners are authorised and regulated by the Financial Conduct Authority.

If your account has been sold to one of our purchase partners, this means they now legally own your account.

How can a debt purchaser help?

Many people face financial difficulties at some point in their lives. One of the worst things about getting into debt is not knowing how to get out of it, but don’t worry – they have many options and solutions available to help which can be tailored to suit your circumstances.

What steps should I take now?

There’s no need to worry. Debt purchasers are there to help you.

They’ll get in touch with you by letter, email, text, or phone. If this happens, the best thing to do is to talk to them about your circumstances. If you wish to contact them, you'll find their contact details on the letter they've sent you.

If you’ve been making payments to us via a repayment plan, the debt purchaser will be happy to honour this plan for you. Simply contact them to arrange for your payments to be made directly. Once you've done this, remember to cancel your previous Direct Debit or Standing Order with us, so that you don’t end up paying twice.

Do I need to contact NatWest?

No, from now on please liaise directly with the debt purchaser to discuss anything to do with your account.

How will my credit file be affected?

If we’ve been reporting your account to credit reference agencies, we’ll update our record to show your account has been sold. Once that’s done, the debt purchaser will start to report to the credit reference agencies – this usually takes around 30 days after the sale date. Don’t worry, your account won’t be reported twice.


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