inaccurate default date Natwest

[CapoFort]

Hi Guys

first time posting here, trying to sort my money life and was hoping some help.

I had a current account with a overdraft which I stopped using in 2004 from what I can remember. Moved around alot, travelled and lived abroad for nearly 5 years so just forgot about it.

Many years later being a slightly more responsible adult I checked my credit file and I saw a debt from NatWest on there.

it lists the start date as 11/10/2006

The problem is the default date is listed 31/05/2014

From what I understand a default notice should be placed maximum 6 months after non-payment.

What NatWest has done is report to the credit ref agencies that until December 2014 this account was up to date.
Which is why I think they were able to default me so many years after.

I have contacted Equifax to dispute and they said they will contact Natwest for me.

I also contacted NatWest Recovery dept and explained that they have a legal duty to provide accurate information and stating that it was up to date breaks Data protection Act and also ICO guidelines. Their response was to say they will email the dept that deals with credit reporting. Said on the phone that it should be amended by Tuesday otherwise to phone back.

I feel that that wont happen and wanted to get ahead of the curve and find out what I can do to get adjust the default date

[nemesis45]

Re: inaccurate default date Natwest

Hi Guys

first time posting here, trying to sort my money life and was hoping some help.

I had a current account with a overdraft which I stopped using in 2004 from what I can remember. Moved around alot, travelled and lived abroad for nearly 5 years so just forgot about it.

Many years later being a slightly more responsible adult I checked my credit file and I saw a debt from NatWest on there.

it lists the start date as 11/10/2006

The problem is the default date is listed 31/05/2014

From what I understand a default notice should be placed maximum 6 months after non-payment.

What NatWest has done is report to the credit ref agencies that until December 2014 this account was up to date.
Which is why I think they were able to default me so many years after.

I have contacted Equifax to dispute and they said they will contact Natwest for me.

I also contacted NatWest Recovery dept and explained that they have a legal duty to provide accurate information and stating that it was up to date breaks Data protection Act and also ICO guidelines. Their response was to say they will email the dept that deals with credit reporting. Said on the phone that it should be amended by Tuesday otherwise to phone back.

I feel that that wont happen and wanted to get ahead of the curve and find out what I can do to get adjust the default date

Good afternoon welcome to LB.

Did you receive Formal Demand for Payment In Full or a Final Demand at any point?

Your approach should be a Formal Complaint to NatWest addressed to the Data Contoller.

The points you need to make are as follows. Keep everything in writing, you cannot rely on telephone statements which can he so easily denied so:


1. There has been no financial transaction on the account since date..................:
2. The account start date is some two years earlier than shown on the credit file.
3. The account should no longer appear on the credit files.
4. The account now falls under the provisions of the Limitation Act 1970 and is statute barred.
This approach means that the bank must fully investigate the complaint within 56 days. ( don't worry about this it should be dealt fairly quickly)

The banks London Head office is the place to send it.

nem

Use signed for post.

[CapoFort]

Re: inaccurate default date Natwest

Just to clarify I wont need to point out they provided inaccurate informtation stating my account was up to date until Dec 2013?

[Debt Camel]

Re: inaccurate default date Natwest

Just to clarify I wont need to point out they provided inaccurate information stating my account was up to date until Dec 2013?

The problem is this was an overdraft. As such you weren't obliged to make monthly payments to it...

NB I am not saying the default is right or that the account isn't statute barred. This is a very old account with no contact for a very long while.

Nem's letter is nice and simple. I would resist the temptation to add other bits to it which aren't so clear cut.

[CapoFort]

Re: inaccurate default date Natwest

Unfortunately it seems my sense of time and memory are wrong.

Spoke with Natwest collectons dept and they told me the following information

The last deposit 19th April 2013 and the the last time payment or withdraw money was July 2013.

Though I will get a copy of my statements to confirm these details, as taking their word for it seeems dangerous.

I am not in the position to pay back the debt fully and am considering my options.

I was hoping because I no longer live in the country then I am in position to make a full and final offer to clear the debt.



Ideally I would like to offer 25% of the original debt amount - minus the £372 of charges they added on top.

I would prefer to offer an amount that would have a realistic chance of them syaing yes as opposed to just pissing them off so based on peoples expereince and insights what offer should I make?

[Kati]

Re: inaccurate default date Natwest

[MENTION=55034]nemesis45[/MENTION]?? any advice??

[nemesis45]

Re: inaccurate default date Natwest

@nemesis45?? any advice??

Good morning [MENTION=49370]Kati[/MENTION]:tinysmile_twink_t2: nemxx

[nemesis45]

Re: inaccurate default date Natwest

Unfortunately it seems my sense of time and memory are wrong.

Spoke with Natwest collectons dept and they told me the following information

The last deposit 19th April 2013 and the the last time payment or withdraw money was July 2013.

Though I will get a copy of my statements to confirm these details, as taking their word for it seeems dangerous.

I am not in the position to pay back the debt fully and am considering my options.

I was hoping because I no longer live in the country then I am in position to make a full and final offer to clear the debt.



Ideally I would like to offer 25% of the original debt amount - minus the £372 of charges they added on top.

I would prefer to offer an amount that would have a realistic chance of them syaing yes as opposed to just pissing them off so based on peoples expereince and insights what offer should I make?

Something I have had some success with ( not guaranteed to work I find that much depends on who reviews a case like this) NatWest has a " Director of Retail Banking make your offer to this person.

e.g. As a gesture of goodwill and without admission of liability I am prepared to offer the sum of £xxx.xx in full and final settlement of this debt on condition that:
1. The charges amounting to £ xxx.xx are withdrawn.
2. Any remaining balance is not to be sold or assigned to any 3rd party for collection.
I would normally start negotiations at 10 - 15% of the total outstanding balance, but as
you bargaining to have the charges cancelled 25% is fair I think.

nem

[Debt Camel]

Re: inaccurate default date Natwest

I would include in your F&F offer that you are currently living and working in xxxxxxxx and expect to remain there for the next few years, possibly indefinitely, that you don't own any property {if that is correct], that you aren't in a position to make monthly repayments but you would like to try to resolve this old debt.