Paying NatWest credit card for 9 years. No contact since moving.

[robesac]

Hi, My 1st post on this forum so hope it's ok.

Around 8 years ago I became ill and went on sick leave and was eventually given ill health retirement about 3 years ago so I live on a work based pension.

 

This resulted in my being unable to afford to keep up repayments on various debts, 1 of which is a NatWest credit card which at the time had an outstanding balance of about 13k.

I contacted them and agreed repayments of £30 per month.

 

5 years ago I moved house (owned outright) and informed NatWest cards by way of letter of the change. However, they failed to act on that change and since I moved I have heard absolutely nothing from them. I have continued to make the repayments of £30 per month regularly and never missed any via standing order.

 

Looking at my credit score via clearscore it appears now that I only have 1 negative event which is an account which Lowells took over and is showing as a closed account 5 years ago. I am therefore assuming that come this November when the 6 year anniversary happens this will disappear and my credit file will be clear.

 

I ask the question if anyone can help. Is that likely to be the case but more importantly should I just keep paying NatWest until I die as it will never be paid off at the current rate and I can't afford to pay more. I am concerned that If I get in touch now or change anything it will come back and affect my credit score now re-setting the clock to obtaining a clear credit score. Is it likely to haunt me in the future.

 

Thanks for any help.

[dx100uk]

You should always contact your creditor's when you move

[robesac]

That doesn't actually answer any of my queries.

As I stated in my post I advised NatWest cards in writing. I know they received the letter as at the time I had 3 cards all managed by NatWest group and 2 of those addresses were changed as a result of my letter.

 

Still looking for help and advice as to what I should do if anything rather than what I should have done!

[dx100uk]

if the debts are defaulted

they go off the file on its 6th birthday.

they cant return.

 

 

credit file providers each run by some of their own rules when listing credit

theres no such thing as a closed account

that's just the way clearscore appears to label some debts

if they go after 6yrs - they will say that somewhere.

 

 

try noddle too..

 

 

as for paying NW

is this one still showing?

[robesac]

The NatWest debt isn't showing on my credit file but I don't know if it ever has as I have only recently joined clearscore and as stated previously I moved address just over 5 years ago.

However, given the size of the last known outstanding balance compared to agreed repayments I can't imagine it hasn't been defaulted in the past.

[dx100uk]

yea id suggest it was defaulted long ago and has dropped off

so it cant comeback and haunt you.

 

the fact that you have moved address makes no odd really as long as that old address is showing in the linked addresses section of your credit file.

 

I know what i'd do ..but that's me..

not you..stop paying or drop it to £5PCM

thet'll get their attention

 

why don't you sar Natwest and get everything they hold on your

and go from there.

[robesac]

That sounds like a good plan thank you.

[renegadeimp]

Before you drop payments, send them a letter and say if you get no valid response in 14 days then you will drop the amount for the remainder of the life of the debt. They'll sit up and take notice.

 

On the 14th day with no reply, drop the amount..

[robesac]

All sounds like good advise thank you. I think I will start by reducing the payment slightly and see what happens.

I'm just worried about changing the status quo whilst potentially looking forward to a clear credit later this year.

[BazzaS]

An alternative viewpoint if it is your credit file that is most important to you: don't "poke the bear", if you are happy paying the £30/month.

 

At the moment, it is off your credit file, BUT it isn't statute barred (and won't be for 6 years since last payment), as you've been paying.

"Statute barred" and "off credit report" are 2 way different things.

 

If you disturb the status quo, they might sit up and take notice. If they notice, and start getting aggressive, it can't reappear on your credit file once it is 6 years post default UNLESS they take notice, and go down the CCJ route. If they went for a CCJ and it was granted, unless you paid the judgment within (is it 28 days? 30? a calendar month?), the judgment would show on the Register of CCJ's, and that WOULD be back on your credit file... for another 6 years .....

 

So, poking the bear risks them noticing, and going for a CCJ.

Not poking the bear means you carry on paying the £30/month, and has the downside of keeping the statute bar date 6 years in the future, but it stays off your credit file while they carry on not noticing it.....

 

One factor we don't yet know is if it is likely to be an enforceable debt (if they could get a CCJ on it). If they couldn't, then no harm in risking it coming to their attention. Sadly, though, to get more info on its enforce-ability you might have to ask them for information, which also risks "poking the bear"!

[robesac]

Yes my credit file is more important to me at the moment and as I spent the money in the 1st place it's only right that I attempt to pay it back even though my circumstances have changed and I will never be able to fully repay it.

I think I will leave things as they are and perhaps consider the above suggestions as a reserve action if things change.

Thank you again for all of the advice.

[robesac]

Hi. Hope this is in the correct place.

Took voluntary retirement due to ill health and came to an agreement with Natwest credit card to pay £30 per month on a debt of around 10k c9 years ago.

 

I moved house but they rejected my change of address letter.

 

Since then I have continued to pay and never had any contact with them and never missed or amended my payment. 

 

Nothing on my credit file.

 

My options appear to be:

 

Make contact.

Keep paying.

Stop paying.

Amend the payment. 

 

I'm just wondering if I've become a cash cow but don't want to upset my credit rating.

 

Any advice would be welcome. Thanks.

 

 

 

 

[BazzaS]

Others may view this differently, but:

a) by paying, the debt hasn't become statute barred, and thus they could come after you for the full amount, which (IF they succeeded in getting a CCJ) would re-appear on you credit report if you weren't able to satisfy any judgement within a month.

.

b) £30/month, £360/year.

£10k owed, £3.60 per £100 owed, 3.6% effective rate (annually for a loan that isn't having to be repaid).

 

Whilst "keep paying, don't rock the boat" doesn't move you forward (they COULD come after you for the balance, but haven't as yet .......), anything that rocks the boat might stir them into action.

 

You might get somewhere with discovering a reason why they aren't taking action (was the card issued when it clearly wasn't affordable? Is the bulk of the balance penalties / charges that they might struggle to justify)?, which would benefit you, but then again but you may find you prompt them into coming after you for more.

 

If it isn't on your credit report (it will have dropped off after 6 years), "not rocking the boat' may be a good option, even if it leaves you with the POTENTIAL for them coming after you for more.

Yet, if they haven't in 9 years, why would they now unless it re-surfaces for their attention.

If it does re-surface: you are then no worse off really than if you brought it to their attention now, is what I'm trying to get at.

 

Consider leaving well alone? Others may feel differently (hopefully with reasons why 'doing something' would be a good thing, but with the risks discussed too!)

 

Edited November 26, 2020 by BazzaS
typo's

[BazzaS]

Well, I'm glad I'm consistent .......

 

My reply above isn't identical to my replies in 2017 ...... to an almost identical query, by the same OP, but it is substantially the same reply.

 

OP, if you made the decision in 2017 to "do nothing', has anything changed in your situation to be re-asking the same query again 3 1/2 years later?.

 

Changes in your situation, or in your desires / expectations might influence the advice given to you.

 

Mods, unless it turns out things have changed : do these 2 threads need merging?.

Edited November 26, 2020 by BazzaS

[robesac]

Ti Bazzas: the reason for a similar post is twofold. 

Looking at other posts i see several responses regarding having moved within the last 7 years and backdoor CCJ's.

 

Secondly I don't know if there have been changes to legislation. 

 

Sorry if I'm waisting your time asking. 

[dx100uk]

the legislation hasnt changed

and natwest are one of the very few that do still do court rather that sell debts on..very rare mind.

 

i think it's time you put them to bed.

 

send them a cca request.

 

that kills 2 birds

even if they ignored you before

they cant ignore the change of address which will be on the CCa request

that gives them 12+2 working days to respond

if they dont stop payments

 

threads merged

 

[BazzaS]

dx, do you think that it is likely unenforceable?

If it is enforceable, might they 'do court', and if so, is that likely to blight the OP's credit report for another 6 years ......

 

As previously, it depends on what the risk to the OP is, and THEN what the OP's main priority is, the £30/month, or their credit report ......

[dx100uk]

it is very rare for an OC to continue an arrangement for soooo long

they typically sell the debts on.

we dont know when the card was taken out all we know is in 2017 it was 8yrs old.

 

it can't comeback on a credit file now.

 

even if the OP did find it was unenforceable and stopped payment

whomever owns it would have to abide by the pre action protocol and send a 30 day notice letter of claim before they might think of raising a court claim.

 

if there is no agreement i doubt that.

bottom line is the only way it can harm his credit file is if someone in the very far future were successful in getting a CCJ

during all that process  he'd have time to rearrange payment to stop it 

 

if i remember correctly there were numerous issues with nastywest card agreements in the 90's/00's

 

 

[BazzaS]

"he'd have time to re-arrange payment to stop it" relies on them accepting any new payment offer, though ....

[dx100uk]

de-minus...surely a couple of months of disruption isn't going to result in an instant CCJ.??

 

 

[BankFodder]

Send the SAR anyway.  Nothing to lose

[robesac]

Thanks for the advice. The card was taken out at least 20 years ago from memory. Probably longer than that.

 

I think I will send the SAR as suggested. At least then I will know where I stand.

 

Is there some significance in the 7 years since moving?

 

Thanks once again. I will update in due course.

[dx100uk]

send a cca request

natwest are usually quite upfront if the debt is unenforceable and state as such, knowing they cant demand payment.