Unfair default
keithmc1989
Posts: 1 Newbie
Hi guys,
I'm wondering if anyone can help me. There's a default from natwest on my credit report that I think is unfair. I had a package bank account with them a few years ago that I was mis-sold and didn't know I was paying monthly for. I opened a new account with a different bank, so stopped using the Natwest account. I then received a letter threataning legal action as I was £700 in debt with them due to bank charges that had accumulated due to the monthly charge which went to default.
I then made a complaint to them and received all of this money back. I then assumed that this would be removed by them from my credit file. When it wasn't removed, I made a query to experian and when they contacted Natwest, they said the information was coŕrect and weren't willing to remove it.
I'm just wondering if there is anything I can do about this as it is affecting my chances of getting a mortgage.
Thanks in advance.
I'm wondering if anyone can help me. There's a default from natwest on my credit report that I think is unfair. I had a package bank account with them a few years ago that I was mis-sold and didn't know I was paying monthly for. I opened a new account with a different bank, so stopped using the Natwest account. I then received a letter threataning legal action as I was £700 in debt with them due to bank charges that had accumulated due to the monthly charge which went to default.
I then made a complaint to them and received all of this money back. I then assumed that this would be removed by them from my credit file. When it wasn't removed, I made a query to experian and when they contacted Natwest, they said the information was coŕrect and weren't willing to remove it.
I'm just wondering if there is anything I can do about this as it is affecting my chances of getting a mortgage.
Thanks in advance.
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Comments
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It’s the same answer as always, I’m afraid. At the time Natwest were reporting to the CRA’s you were indeed, missing payments. The fact that you say you were mis-sold the package, and didn’t realise you were paying for them, is irrelevant. You should have checked your statement and raised your concerns at the time, then you would have received a refund and had the package cancelled.
In other words, you credit report is a true reflection of the status of your account at that time.I came into this world with nothing and I've got most of it left.0 -
Hi Keithmc1989,
I would take your query to the Financial Ombudsman as any bank who has mis-sold you a packaged bank account hasn't treated you fairly as a customer.
I had a similar thing with Lloyds TSB now Lloyds Bank and the Financial Ombudsman found in my favour. There were 2 defaults on my credit file and I had financial compensation and they wrote to me saying that they would remove the defaults from my credit file in 60 days and would backdate to remove the defaults.
Hope this helps0 -
Shakin_Steve wrote: »It’s the same answer as always, I’m afraid. At the time Natwest were reporting to the CRA’s you were indeed, missing payments. The fact that you say you were mis-sold the package, and didn’t realise you were paying for them, is irrelevant. You should have checked your statement and raised your concerns at the time, then you would have received a refund and had the package cancelled.
In other words, you credit report is a true reflection of the status of your account at that time.
Completely ignore this. Poor advice.
You need to speak to natwest. Tell them about the situation it shouldnt be overly hard for you to convince them to remove the default. It will be much easier for them saying they cant and they wont so dont stop at that hurdle. Raise a formal complaint.
You should not have a default for a debt that shouldnt have existed.
If you get nowhere go to Financial ombudsman explaining your case. Again it should be pretty straightforward for them to see it should have been removed.0 -
I disagree, let’s hope the OP comes back with the outcome.Completely ignore this. Poor advice.
You need to speak to natwest. Tell them about the situation it shouldnt be overly hard for you to convince them to remove the default. It will be much easier for them saying they cant and they wont so dont stop at that hurdle. Raise a formal complaint.
You should not have a default for a debt that shouldnt have existed.
If you get nowhere go to Financial ombudsman explaining your case. Again it should be pretty straightforward for them to see it should have been removed.I came into this world with nothing and I've got most of it left.0 -
Shakin_Steve wrote: »I disagree, let’s hope the OP comes back with the outcome.
Worth replying.
All you did was repeat a mantra. One which is generally correct however exclusions do apply. Things like fraud, a debt that was never yours (the op suggests its an example of this!), incorrect procedure followed and a few others.
If what the op says is true, that the debt was solely down to bank charges of which are related to a mis sold account. Then the debt should never have existed. Hence why they shouldve been restored to their position before any of the charges where added (op suggests they where financially). That includes not having a default.
I get that the situation isnt black and white. You seem to suggest it is. I think theres a good chance the OP isnt coming back after reading your advice and is stuck with a default for 6 years of which they might been able to get it overturned.
You didnt even suggest it can be removed or the reasons how, it was just a blanket statement that isnt applicable to every scenario. So yes we disagree, it was shocking advice.0 -
Don’t be angry, I called it as I saw it.
I came into this world with nothing and I've got most of it left.0 -
Not quite the OP but seems to be similar circumstances (in fact in this case i would go as far to say they had less of an argument than the person you told to grin and bear having a default for 6 years) and they did come back. Without their default.
http://forums.moneysavingexpert.com/showthread.php?t=5750757
Its always good when you can vindicate your stance isnt it?:money:0 -
i am currently in the same situation. A defaulted account with a balance of £30!! due to switching accounts an alleged DD which reversed 3 times(no details of the DD in question as of yet). So the default is made up of 3 x £10 charges inflicted by TSB i wasn't aware of as i switched. Wondering how OP got on... may i add they have sent a cheque of £100 as compensation but no mention on removing the default just to mark as settled and balance of £0. How can i still have a default if it was their charges in the first place?
Apologies to OP for jumping on your post just as i am in a similar situation0 -
Are you able to provide more details.
If these charges were incurred doing a current account switch via the switching service there is a guarantee that has to be adhered to.
What is the £100 compensation for? Did you raise a complaint with TSB?I’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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Just be better than you were yesterday.0
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