Welcome to the forum Ger80.

My understanding is that NatWest operates using a separate banking licence to RBS.

If that's the case RBS wouldn't be able to touch money in a NatWest account.

Is it the most basic NatWest account that you have opened?

Thank you for the welcome & the swift response.

Yeah, it is just a Nat West basic account i have opened. It was only when registering for online banking it took me to a page that was had RBS in the web address (it was still a Nat West page though). I thought of them because my current mortgage is with them & it would make things a bit easier. I really should have looked into a bit a bit more.

You're welcome Ger80.

It doesn't sound like you have a problem here.

There are a few banking 'groups' that operate separate bank brands using different banking licences.

Hi Ger80,

Normally I advise clients to set up an account with Nationwide, Barclays or the Co-Op as we know they are fine to deal with.

Bank of Scotland in my experience tend to freeze an account and then remove banking facilities so we advise people to stay away from them.

There shouldn’t be any problems with the Nat West account so try not to worry too much. If you are worried or unsure a quick call to your Trustee should put your mind at ease.

Thanks for the replies. My adviser actually mentioned Nationwide over the phone as a good option, but i must have got the N's confused while taking in all the other information and i've confused it with NatWest as that's who i have my mortgage with.

The Nat West should be ok but I suppose a backup could always be open a Nationwide account and have it sitting there Just in case. Some clients like a belts and braces approach to things like this.

How are you feeling about things now you have taken steps to deal with the debts and enter into a Trust Deed?

Thanks for asking David. I'll be honest with you, there's a mixture of emotions, there's embarrassment that i've got myself into this situation in the first place, it's scary, knowing i'm going to be going onto insolvency lists and things like that, but at the same time it's a relief knowing i'm not going to be drowning in my debt, in this never ending cycle of shifting debt around without ever really getting it down.

We've had a bit of a tough couple of years which has helped put me where i am, losing my dad, booking a wedding, going onto reduced pay for a while, partner off work due to ill health, but these are just excuses, i'm still embarrassed it's come to this. I haven't missed any payments on anything so far, but everything has mounted up, & unfortunately given my now poor credit rating i see this is our best option.

One thing i am looking forward to, is actually not being able to access credit, my partner and i have to live within our means now so i know debt isn't increasing behind my back. I think that will be a great thing for us.

Hi Ger80,

In all my time as an advisor I’ve realised that almost anyone can find themselves in financial difficulty and it can just be through living life and trying to get by day to day. Try not to beat yourself up too much or feel embarrassed.

In Scotland we have a great system for helping people who find themselves struggling to pay back an affordable amount per month over a period which is manageable. You’re not running away from the debt but simply saying you need help to deal with it which is a brave thing to do.

Try to focus on the positive of having one more affordable payment per month and knowing that there is a light at the end of the tunnel and that in 4 years time this will be behind you.

Don’t worry about the insolvency lists, hardly anyone outside of this sector doesn’t know about these and it’s not something that should come up so no one should find out about it.

When I speak to clients at the end of the process the feedback is like you have suggested they can live within their means and are actually better at budgeting and managing money. I’m sure this will be the case for you come the end too.

I look forward to seeing you back on the forum at the end of your Trust Deed to hopefully advise us everything went smoothly and you are now discharged.

Thank you for the kind words David. I'll probably be on your forum quite a bit looking for bits of advice throughout. It's a great resource to have, from people that have been through the same things offering advice, to experts like yourself and TDA helping with your knowledge. It's great even just as a soundboard for bouncing thoughts and ideas about that you might not necessarily want to bother your own Trustee with straight away.

Hi Ger80.

Please feel free to bounce your thoughts and ideas about here in this forum.

I liked your earlier post where you mentioned that you had found a number of positives in among an otherwise tough situation. I think a lot of people feel the same after they've taken that first scary step of asking for help and advice.

Hi Ger80.

I'm glad the forum can be of service to you. Keep letting us know how things are going as the thoughts and experiences of people that are going through it are the most valuable part of this forum I often think.