Natwest Default Removal Query

[bazevo69]

Hi Guys,

 

Only been reading this site for the last 3 hours and must say the information provided here is excellent and has given me many ideas on how to tackle my own case.

 

Basically I had a Natwest student account with OD limit of 1k. When I finished university in 2004 I was looking for work and so had no money to pay into the account at the time. I never had any correspondance from Natwest until a letter arived through my door from Regal Consultancy dated Feb 05 to demand full payment of the overdraft which as a result of a late payment charges rose from £990 to just over 1k.

 

I immediately paid aproximately 70 % of the balance (agreed by Regal to settle the debt) and have since then paid the additional 30% of the balance.

 

When I checked my experian report a year later I since found out that a default had been registered against my name and my credit rating had dropped dramatically.

 

The default was registered in December 2004 so approximately 4.5 years later my credit rating has improved somewhat never missing a payment on any of my accounts and have never done so on any credit agreements in my life. However this Natwest default is holding me back from securing a mortgage with a good deal hence looking to get this removed.

 

Reading on here it would appear that most people with open accounts and ones that have not been settled/pass to DCA tend to start of applying for a CCA in accordance with the Data Protection Act to stop any further interest being applied and a Default Notice not being issued.

 

I obviously am a bit further down the line having paid the debt back entirely and never received a DN through the post.

 

Would I be right in requesting a copy of my original CCA as just from research on here it would appear that compaies do not have to provide signed documents (only in court) and do not have to provide evidence of the DN being sent out in its signed state nor do they have to comply with the request of a CCA if the account has been settled and closed? Is this correct? If not would I be better off going down the SARN route to prove a DN was never sent or CCA not kept on file in order for them to realise that the agreement was in breach and that they are wrong to hold adverse information on me with the credit agencies?

 

Again I appreciate all help in advance and any templates you can refer me to will be a bonus.

 

Many thanks

 

Bazevo:)

[bazevo69]

Any info appreciated:D

[bazevo69]

Anyone?

[davey77]

Firstly, when you say you agreed to settle the debt (and have since paid 100% of it back) did you have a letter of settlement from Regal or was it all done over the phone (i.e any written proof of what they agreed to?).

 

Was the account passed for collection by Natwest or bought outright that you are aware of?

 

Can you go through the wording of any paperwork and see exactly what was agreed to.

 

I would do the above but once you have all the information, if you want more then it's a SAR you need to send off to get all the information you need (Default Notice (if any) and copies of correspondence (confirmation the account was settled and payments made etc).

[the_shadow]

You need to get the SAR in to Natwest to find out if they issued a default notice and when.

 

Does the Default show up in Natwest or Regals name, the owner of the default should be the name on your credit file.

 

If you had no specific agreement to remove the default as part of the full and final offer(s) you paid then it'll show as settled but will remain on your credit file for 6 years.

 

You could write and ask that they remove as they received the full amount back but I suspect they will tell you "bog off" as they have done what the ICO tells them to.. namely just to mark the debt as defaulted but Satisfied.

 

S.

[bazevo69]

Cheers guys all help appreciated.

 

My credit file shows a default marked by Natwest so I can only assume that the debt remained with them and was being collected by an agency?

 

I received a letter from regal asking that the full amount be paid within 7 days on 18/02/2005 and after paying I received a further 2 letters one dated on 06/04/2005 from Regal confirming the account with NW had been satisfied and the other one direct from NW on 24/05/2005 stating that they have received the payment from Regal and that any indebtness has now been discharged.

 

Would I be right in assuming that the debt was not sold on and they were just acting on behalf of NW? Sorry just at the time I thought it meant the debt had been sold on hence the offer of a 70% payment to clear the debt.

 

I will try and copy the letters on here so that you can see the exact wording. I have everything in writing.

 

I will draft a CCA request this weekend and post on here and see what that cmes back with. You never know they may be nice and see that the whole amount has been paid off and remove the Default as a good will gesture (I think not) as technically I only have until Dec 2010 until it removes itself.

 

Cheers guys!

[davey77]

It's not a CCA request you want.. it's a SAR.. but.. now we know you have such specific confirmation in writing i would attempt a letter to Natwest asking that they amend your credit file (which they should have done) and don't forget to ask that it is back dated to when it should have been done other wise any remark will stay there for 6 years from now.

 

It takes a while for an account to be sold outright so it was probably just passed for collection.

 

The satisfied should have been placed on the file soon after you paid if off so if that was 2005 a settled mark would be due to drop off the credit file 2011 (6 years.)

 

You could try a polite letter (acting as though it were a genuine mistake of their part ect) and test the waters to see what their attitude is. Include copies of the letters confirming the account was paid.

Try it, you may get lucky.

[bazevo69]

Well there is a special instruction on the account stating that the account was partially settled which technically it was as at the time I opted for the 70% settlement fee. However in 2007 I paid back the other £320 as I believe my file showed I owed money still.

 

My file has not been updated since 2005 but the default balance reads settled however the partial settlement instruction still stands on there.

 

I also called Experian last week and the guy on the phone told me that the account reads fine and shows I owe no money however I am concerned why it still states partial settlement. He did confirm however that the default stands from the date the default was issued and would be removed Dec 2010 however other people on here state it is removed from when the last update would be?

 

I will draft a SARN and post on here.

 

Many thanks Dave