Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


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  1. #1

    Default RBS Student overdraft default - help please

    Hello i was wondering if i could get some advice please.


    Trying to resolve my current bad credit rating with equifax (218) with two defaults lodged upon my equifax report
    - after years of avoiding i am finally in a financial position to repay/sort out my current credit standing.

    My basic back story:

    I had a current account with RBSicon since 2007
    that then changed to have student overdraft facilities added in 2009 when i started studying. T


    he problem being i changed my address & stopped studying (I was only living in temporary accommodation) and neglected to notify my bank of the change - after years of just completely ignoring/not thinking about my maxed out overdraft its finally time for me to repay/sort out my bad credit rating.

    On my credit report it shows the account defaulted in 2011
    - I phoned RBS to see if i could just pay the outstanding balance
    and they notified me that i can't get the default removed from my account even if the balance is paid.

    Is their any other option i could go through to try and get this default removed?


    The account ended in Aug 2011 - so waiting until 2017 isn't really the best option for myself.

    The second default is for the same address and its a BT broadband bill of 220 that is defaulted on my account.


    This is marked as May 2009 on my credit report
    - this means it will expire in this coming may for the six years mark.


    Is it worth just paying this or waiting?


    Regards
    Maunder

    p.s it may also be worth noting my credit rating for the exact same details on EXPERIAN state my credit score rating is 'GOOD'

    Why would this be?

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  2. #2

    Default Re: RBS Student overdraft default - help please

    With the BT one, i would let it run its course
    Itll drop off soon. Do you know which DCAicon its with?

    As for RBSicon, they are right. Problem is you didnt update your address with them...
    If you want to pay it, then do, but if you do , make a F+F offer, and also get it in writing that they will amend it to FULLY SETTLED!


  3. #3

    Default Re: RBS Student overdraft default - help please

    thanks for the advice - whats a F+F offer?


    Will having it marked as fully settled improve my credit rating
    or will it mean the date it will be removed from my file in
    - 2020 because thats the last payment paid (6 yearsicon)

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  4. #4

    Default Re: RBS Student overdraft default - help please

    debts with a defaulted date will VANISH from your file
    on the defaults 6th birthday.


    paying the debt[s] off will NOT improve you rating
    nor chances of say a mortgageicon.


    just remember that even after the debts drop off
    does nt mean they are sb'd or not still due.


    dx

    PLEASE REFRAIN FROM HITTING 'REPLY WITH QUOTE' IF YOU ARE SIMPLY REPLYING TO THE LAST POST IN A THREAD..JUST TYPE!!
    it makes a thread twice as long to scroll through..save data download times and costs
    If you want advice please PM me a link to your thread. PM advice is not allowed!!
    DX
    RIP Martin3030

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  5. #5

    Default Re: RBS Student overdraft default - help please

    Thanks again - however i am a little confused at the last bit -

    just remember that even after the debts drop off
    does nt mean they are sb'd or not still due.


    -- So i should just pay the RBSicon one and have it marked as paid or??


  6. #6

    Default Re: RBS Student overdraft default - help please

    paying a debt off whilst it is still on your file
    wont improve your credit rating if its defaulted.


    All references to a defaulted debt must be removed from your credit files after 6 yearsicon
    has passed from date of default, whether paid off or not.
    .
    the WHOLE ACCOUNT WILL VANISH, never to return.
    .
    however, this does not mean the debt itself is not still owed
    consider a CCA Requesticon.
    .
    This is so that someone who continues paying something
    - even after 6 years from default
    - should not be at a disadvantage to someone who pays nothing after default
    and ends up with a clean file after 6 years.


    if people are not chasing you let it run.


    who's to say the RBSicon OD is all your doing?


    might be loaded with penalty fees
    you need all the statements


    time for an SARicon.


    F&F means full & final.


    dx

    PLEASE REFRAIN FROM HITTING 'REPLY WITH QUOTE' IF YOU ARE SIMPLY REPLYING TO THE LAST POST IN A THREAD..JUST TYPE!!
    it makes a thread twice as long to scroll through..save data download times and costs
    If you want advice please PM me a link to your thread. PM advice is not allowed!!
    DX
    RIP Martin3030

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