Old Natwest Student Account

[Saj3535]

Hi,

 

I just wanted to get some advice.

 

I took out a student account with Natwest around 2008 and at the time I was offered an overdraft of £1500. Around 2009 I defaulted on the account and I never paid back the overdraft.

 

Its been over 10 years since I defaulted and within this time i have not had any communication from Natwest to chase the debt not even a letter. I am more curious than anything whether this would have any impact on me in the future if I applied for a Natwest mortgage for example?

 

I tried to do an eligibility check for a Natwest credit card and half way through it recognised thar I have account with them and requested I enter account details to proceed. How long do Natwest hold details for? Is it worth paying the debt to avoid future problems?

Edited March 26, 2023 by Saj3535

[dx100uk]

it will be statute barred now.

however it still remains on their books as natwest rarely sell debts on.

 

go elsewhere.

 

dx

 

[Ethel Street]

If a debt is statute barred it still exists. It's just that the lender cannot take any action to recover it. So if NatWest identify that you still owe them money they can use that as a reason to refuse to give you a mortgage or make any further loans to you. Being statute barred doesn't prevent them using the debt as a reason to refuse you future lending.

 

I don't know how long NatWest keep records for but I expect they will still have all the details of a 2008 default.

 

 

[dx100uk]

can i just further clarify for future readers,

 

....if the debt has been sold on to a debt buyer/dca and you've had a notice of assignment, the debt WILL be dead , send the DCA our SB letter.

 

if sold on...the original creditor cannot use it as an excuse to refuse 'whatever' with them just 'because' they at one point were 'the original creditor', they've wiped their hands of it and have been refunded by Tax clawback and their industry insurance policies, though there might be other sources or reasons why they refuse you.

 

dx