VIC NAB Sold Debt and Broke the Agreement - Can We Sue?

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kristyd82

Member
7 July 2016
4
0
1
Hi,

My partner and I had 2 home loans and 2 credit cards with NAB. My partner lost his job, after our savings ran out. The home loans weren't paid, we signed an agreement with the bank that 1 home loan would be placed on hold and we had to put that house up for sale. The other home loan we had to pay and the 2 credit cards would be placed on hold until the end of the year. Then we had to make monthly repayments until the debt was paid all of this was on the 1 agreement, not separate all together. 1 agreement, 3 weeks after signing the agreement.

The bank sold 1 off the credit card debts to a collection agency who contacted me and demanded full payment. I explained to him about the agreement which I had to email to him. I rang the bank to find out why the collection agency was calling and they said they had made a mistake, however, had asked for the debt to be sent back to them.

My question is, the bank has broken the agreement by selling the debt. If we broke the agreement and we lost both our houses, I want to sue for the total amount of the agreement. NAB should be held accountable regardless of a mistake or not or if they recalled it after being notified. They should never have sold it in the first place. We are being made to feel that an agreement doesn't mean nothing if you are a bank and dealing with people whom are already in financial hardship.

We won't do anything anyway as we would not have the means to do anything
 

Rod

Lawyer
LawTap Verified
27 May 2014
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958
2,894
What is your loss as a result of NAB sending the debt to a collector, then recalling the debt back from the collector?

What you suggest is unlikely to happen and while you may well be upset, and justifiably so, that doesn't make a lawsuit.

Remember NAB didn't have to enter into an agreement in the first place and now you want to punish them for trying to help you. Doesn't seem right to me.
 

kristyd82

Member
7 July 2016
4
0
1
Thanks for your reply Rod. We had no loss as I refused to pay it, however, I did lose my house. NAB had to make an agreement with us as I put in a complaint to FOS due to poor handling of our home loans and lack of assistance from them.

So what you're saying is an agreement or contract isn't worth the paper it's written on? NAB can make an agreement and be negligent enough to sell the debt but that doesn't matter it's NAB they are a bank, however if I broke the agreement NAB could take my 2 houses, that is a joke!

NAB didn't do their job properly so they should be held responsible for it.