How to Remove Overdraft Default

[optimist22]

Hi there,

 

I need help! I really hope someone gets to read this. So here is my problem...

 

In July 2013, I received a letter from Natwest (at this point I was living in the US) advising me to pay money into my account for the unpaid overdraft I had not repaid yet. It said that 'If I dont get in touch, we may need to issue you with an Overdraft Termination Notice'. Afterwards i received no more letter from Natwest (probably because I moved to another country (Germany).

 

So today (November 19,2013) I failed to log onto my Natwest Graduate Bank account, I was advised to contact customer service. I had already assumed that to be due to my unpaid overdraft. When I called Natwest I have been told that I will no longer be able to access my account due to an unsatisfied debt with the bank. My case was forwarded to AIC. I now have an overdraft default on my name. I have been advised to contact AIC to repay the debt. I have not yet contacted AIC.

 

I am trying to find a way of removing the overdraft default. Can somebody please advise me on the next steps I should take?

 

Deb T, I have red the advise you have given hungrybear and I would really appreciate your personal opinion, too.

 

Thanks in advance,

 

optimist22

[optimist22]

Hi there,

 

I need help! I really hope someone gets to read this. So here is my problem...

 

In July 2013, I received a letter from Natwest (at this point I was livingabroad)

advising me to pay money into my account for the unpaid overdraft I had not repaid yet.

 

 

It said that 'If I dont get in touch, we may need to issue you with an Overdraft Termination Notice'.

Afterwards i received no more letter from Natwest (probably because I moved again, to another country.

 

today (November 19,2013) I failed to log onto my Natwest Graduate Bank account,

I was advised to contact customer service.

I had already assumed that to be due to my unpaid overdraft.

 

 

When I called Natwest I have been told that I will no longer be able to access my account

due to an unsatisfied debt with the bank.

 

 

My case was forwarded to AIC.

 

 

I now have an overdraft default on my name.

 

 

I have been advised to contact AIC to repay the debt.

 

 

I have not yet contacted AIC.

 

I am trying to find a way of removing the overdraft default.

 

 

Can somebody please advise me on the next steps I should take?

 

Thanks in advance,

 

optimist22

[dx100uk]

what is the od made of?

 

 

all you own spending or partly their penalty fees

 

 

dx

[optimist22]

what is the od made of?

 

 

all you own spending or partly their penalty fees

 

 

dx

 

It is all my own spending.

[AndyOrch]

Then you cant remove the default...you have defaulted by not depositing sufficient funds....

[ncf355]

Hi,

 

as you can see, this thread is somewhat out of date (2009!) and since all this, the OFT lost their case against the banks

 

For now, the charges are considered (in the main) to be lawful, until someone manages to take this issue to court and win on areas of law that were not explored by the OFT

 

So, any Default entered against an overdraft with a blance that consists of charges is likely to be held legitimate by the Information Comissioners Office (the body that oversees data protection) and the banks themselves are VERY unlikely to budge on this issue themselves.

 

Sorry to say it seems that your OD Default sounds legitimate, so it would be a matter of waiting the 6 years from the date the default took place for it to drop off your credit file.

 

The only avenue I can see (at laest for now) worth exploring is you mention various dates above with regard to residency in the USA, etc but you dont say when you actually stopped paying into the overdraft

 

So, 2 key questions:

 

1) What date did you stop paying funds in against the overdraft debt?

 

2) What date did the overdraft go over its limit and not go back under (for example, if you had a £2,000 overdraft and it went to £2,100 and never went back under the £2,000)?

 

 

 

MODS: Can these posts be put into a new thread please to discuss Optimists issues?

[optimist22]

hi ncf355,

 

thanks for your reply.

 

I was a student from 2009 - 2012. My student overdraft limit was £1500, which I never went over!

 

I dont remember the exact date I paid money into my account. I dont have access to my account and I did not receive any letter confirming my last/current account status (probably because the letters have been send to my the US adress, i no longer live in).

 

I stopped paying funds in just before my student account changed into a graduate account (2012). When I graduated in 2012 my student account changed into a graduate account. The overdraft limit then reduced. At that point, my overdraft went over the limit. I did not know that the overdraft limit also reduced when my account changed to a graduate account.

Yesterday, Natwest told me on the phone that my outstanding overdraft I owe just over £1300.

 

I dont how to go from hear. Do I ask AIC for my latest account status? Do I not communicate with AIC at all? After all, AIC has no contact details of me. I do intend to pay back the debt back completely with the hopes that they will delete my default.

[AndyOrch]

Threads merged...please do not start new threads on the same matter.

 

Andy

[ncf355]

Hi,

 

be VERY careful here

 

A lot may well disagree with this, but if you were to pay them the entire amount today, that would make no difference to the length of the default staying on your file

 

They are under no obligation whatsoever to remove the default once the debt is settled

 

In this way, defaults are crazy - you could have someone that made ABSOLUTELY no effort to pay the debt and someone else who paid the debt in full - they would both have the damge for at least 6 years

 

So, it would appear the Default more than likely occured in 2012

 

This means that in all likelihood the default won't come off your file until 2018.

 

Are AIC claiming they actually own the debt, or ar they stating they are merely collectiong on behalf of Nat West?

 

(Obviously you wont know that until they write)

 

I would advise writing with a Subject Access Request under Section 7 of the Data Protection Act 1998 (costs £10 cheque) to get absolutely ALL data Nat West hold on you and the account.

[optimist22]

Hi ncf355,

 

I will contact Natwest again and clarify whether AIC actually owns the debt. I am going to move back to the UK before the end of the year (different adress). NatWest and AIC are not currently aware of my location. I am not aware of the procedures involved in debt collecting. So, if I send out a subject access request form with my actual adress, will they be trying to collect the debt?

 

Thanks again

[ims21]

Further posts moved to here.