Default removed *EASY*

[racingdriver]

N***WEST Account - Had default removed after just one letter , it was as easy as that - they have never replied to the letter i sent them around 4 weeks ago but upon checking my credit files today all N***WEST information has been removed including Default, i'm chuffed to bits :-D:-D

 

I thought this proccess was going to take months but likly not.

 

If anybody wants a copy of the letter i used please let me know - it's very basic but it worked.

 

Cheers.

[mr.ton]

I have always said that the credit files are not worth the paper they are printed on & that the CRA's are not fit for purpose.

I have had many credit files from all the reference agencies & each 1 shows differing information/incorrect info & defaults/CCJ's/late payments info which show up 1 month & do not the next

[LJL]

Yes Please! Can you post a copy of the letter on this forum?

[racingdriver]

Here's the letter i sent, very basic but works.

 

You can change it to suit your needs.

 

 

-----------------------------------------------------------------------

 

Your Name & Address

Date:

Bank Name & Address.

Account number:

Dear Sir/Madam

FORMAL REQUEST TO REMOVE DEFAULT

Upon carrying out an audit on my Credit File I have found out that BANK NAME have placed a Default on my file on the DATE while this account was clearly in dispute with regards to bank charge reclaim.

I was fully successful in claiming all my bank charges back totalling over XXXX which would have totally cleared the remaining overdraft to which the default was issued.

Further to the above mentioned I received no Default Notice regarding this account and I am now requesting a signed true and certified copy of the original default notice your company issued me with on the DATE.

 

I would request that this data is provided to me within the next 28 days, if you are unable to provide this data then I must insist that the default is removed from my files as unsubstantiated.

I look forward to hearing from you.

Yours faithfully

[Pinky69]

An overdraft - that explains it. An overdraft either does or does not exist and once it's cleared, there is no reason for a default. That's a different kettle of fish from an unenforceable credit card or loan where the debt still exists but cannot be enforced.

[racingdriver]

So i take it that's why it's been removed so easily?

[Pinky69]

Yes. Once an overdraft is cleared, it no longer exists. A disputed loan or credit card debt can be sold on and disputed for years because it is unenforeceable. It can only be defaulted once but it can take months/years before it disappears and even then it can take forever to get the default removed.

[Suetonius]

Yes. Once an overdraft is cleared, it no longer exists. A disputed loan or credit card debt can be sold on and disputed for years because it is unenforeceable. It can only be defaulted once but it can take months/years before it disappears and even then it can take forever to get the default removed.

 

In relation to the default, wouldn't the same principles apply to an overdraft default as a regulated loan or credit default. i.e stays on a credit file for six years

 

I thought that in relation to the CCA, the only difference was in relation to the actual agreement. I do not remember reading anything in relation to different rule, regulations or principles applying to defaults.

[Suetonius]

I would have thought the more likely explanation is that the charges were in excess of the default. Therefore they may have considered that the account would not have been defaulted had the charges not been applied

[cadencealex]

I have never had an overdraft with Natwest only a basic bank account and they removed the Default for me too - 1 letter, all done within a fortnight

[craigers]

I presume it was so easy because the charges were in dispute, and you can't be defaulted for bank charges??

[Suetonius]

I don't agree with the overdraft / default suggestion as I do not see that it has any foundation in law

[noomill060]

hj

[Pinky69]

An overdraft does not have an "agreement" and is not covered by the CCA 1974 in the same way as loans or credit cards - it is at the behest of the bank. All they need to prove it is a copy of the letter stating how much and what interest rate and that is easily produced - there is no agreement involved.

[Suetonius]

An overdraft does not require an executed (signed) credit agreement. However, an overdraft facility is still a credit agreement regulated by the CCA 1974 (as amended 2006). I presume that you are making reference to section 74 of the act, which only applies to sections 55-73 (excluding 56).

 

An overdraft is a credit facility that is repayable upon demand. You can be defaulted if you fail, when request to repay an overdraft in exactly the same way as either a credit card or personal loan (see sections 87-93). If an overdraft is withdrawn, any overdrawn balance, becomes unauthorised, rather than authorised. If you are defaulted and repay the amount owed, it would be marked as satisfied and not automatically removed as you say.

 

As previously, stated it is more likely that the charges applied to the account were the deciding factor, at least in this instance

[Pinky69]

Which is just what I said without going into the letter of the law. The bank giveth and the bank taketh away.

[Suetonius]

You previously implied that a default in relation to an overdraft was in some way different from a default for a personal loan or a credit card. This is not the case.

 

In relation to both, the selling of a debt to dca and the actual registration of the default with credit reference agencies, they are one in them same. If you default on an overdraft and subsequently repay that debt, it will be marked as satisfied....

[Pinky69]

It was not sold to a DCA, the bank dealt with it and the account was closed.

I didn't say anything about the default being marked settled in the case of payment. What I did say was that it is easier to get a default removed on an overdraft that has been cleared than it is where an account is unenforceable but the debt still exists. The title of the post was "Default removed - easy. " It would be wrong to give posters the impression that defaults could be also removed without difficulty in other situations.

[Suetonius]

]What I did say was that it is easier to get a default removed on an overdraft that has been cleared than it is where an account is unenforceable but the debt still exists.[/b] The title of the post was "Default removed - easy. " It would be wrong to give posters the impression that defaults could be also removed without difficulty in other situations.

 

Firstly, I have not implied or indicated that a default could be removed without difficulty in other situations.

 

Secondly, I am sure if you were to search CAG, you will find a number of people that are in the process of trying to get a default in relation to an overdfraft removed (or have attempted whether successfully or not). They are not finding it any less easy than a loan or a credit card default.

 

Thirdly, what you said was:

 

An overdraft - that explains it. An overdraft either does or does not exist and once it's cleared, there is no reason for a default. That's a different kettle of fish from an unenforceable credit card or loan where the debt still exists but cannot be enforced.

 

On what basis did you reach this conclusion

 

If the account has been defaulted, it will remain defaulted, even if the debt has been repaid. It will just be marked as satisfied.

 

It would appear that Racing Driver successfully managed to have this default removed on the basis of the charges applied to his account. I think he deserves a lot more credit for what he has accomplished and I feel that his approach will be of a benefit to a number of people.

 

You also said

 

Yes. Once an overdraft is cleared, it no longer exists. A disputed loan or credit card debt can be sold on and disputed for years because it is unenforeceable. It can only be defaulted once but it can take months/years before it disappears and even then it can take forever to get the default removed.

 

• Do you accept that an overdraft can be defaulted and that the subsequent debt can be sold on in exactly the same way as loans and credit cards ?
  

May be I have totally misread your posts and I offer you my sincere apologies if I have. However, it would appear that you are suggesting that a default in relation to an overdraft is different from a default for either a credit card or a loan.

[Pinky69]

Whatever:rolleyes:

[Suetonius]