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  • FIRST POST
    • Cisconeddy
    • By Cisconeddy 6th Dec 17, 10:22 PM
    • 3Posts
    • 0Thanks
    Cisconeddy
    Grateful for advice on how to handle a debt
    • #1
    • 6th Dec 17, 10:22 PM
    Grateful for advice on how to handle a debt 6th Dec 17 at 10:22 PM
    Hello all,

    I would be grateful for some advice.

    In 2009 I set up a student account with NatWest which comprised of a current account and student professional development loan.

    In 2010 I went overdrawn on the current account and received letters from NatWest requesting I pay. I tried to pay it back but due to circumstances at the time and being a daft youngster, I did not manage pay it back.

    I was due to start paying my loan back in 2014 but due to the above I NatWest defaulted both my current account and my loan. Although the default on loan was noted on Experian 2014. Never have never contacted me to pay the loan back....

    My loan and current account are registered on Experian as two different credit agreements. The current account debt will be technically drop off my credit file at the end of this month. The loan presumably will drop off in 2020.

    In 2011, I believe NatWest sold my debt to Moorcroft and I started to pay them a sum every month until a couple of months ago due to the following. I started using a different current account so I cancelled the moorcroft DD and then rang up moorcroft to give them new details. They informed me that they'd passed the debt back to Natwest.

    NatWest then sent me a letter saying they'd tried to contact me (but I've had no letters......) and that they'd be passing my debt onto Allied international credit. allied have just sent me a letter saying they are acting a collection agent for NatWest.

    All my other smal debts (phones, other small credit agreements are always paid up to date.

    So my Q's after this rather long winded explanation.

    If I start paying Allied International, am I admittting to debt and therefore there is a chance that I will restart the 6 years? I have never written to NatWest or paid them any money. My credit score has started to increase (assume due to the defaults starting to age?)
    My main concern is my credit score as at some point I will be looking to purchase a property with my partner.

    If I do start paying Allied International (which fundamentally I feel I should do as I do owe the money to NatWest), should I write to them and request a proof of debt thingy (forget what the acronym is...)?

    Another Q, have Allied bought the debt or are they acting on behalf on NatWest? If they are acting on behalf of NatWest and I start repaying Allied, am I admitting to debt and therefore the 6 years restarts?

    Ultimately I want these defaults to be off my credit report asap and I am more than happy to pay off debt affordably.

    Thanks in advance.
    Last edited by Cisconeddy; 06-12-2017 at 10:25 PM.
Page 1
    • StokieBecks
    • By StokieBecks 7th Dec 17, 7:27 AM
    • 4,403 Posts
    • 26,582 Thanks
    StokieBecks
    • #2
    • 7th Dec 17, 7:27 AM
    • #2
    • 7th Dec 17, 7:27 AM
    The credit score is irrelevant. It is the information on the file they look for (defaults, ccjs etc)

    As you have been paying moorcroft until recently you have already admitted liability for the debt - the six year time scale doesn't come into this.

    If the default is due to come off soon you must be very careful as sometimes creditors will seek a CCJ so close to the end of the account if you aren't paying them/make an arrangement with them so you must try to set up a payment plan as if they were to take a CCJ out on you that will then being your file another six years.

    If it stays as a default and drops off your file soon it is still owed but won't appear on your credit file
    • fatbelly
    • By fatbelly 7th Dec 17, 8:04 AM
    • 11,646 Posts
    • 8,779 Thanks
    fatbelly
    • #3
    • 7th Dec 17, 8:04 AM
    • #3
    • 7th Dec 17, 8:04 AM
    Your credit file's going to sort itself out, unless they take court action.

    You were paying Moorcroft when they were the collector. What's the problem with paying Allied now they are the collector?

    How long will it take to repay the debt at the rate you are paying?
    • Cisconeddy
    • By Cisconeddy 7th Dec 17, 7:42 PM
    • 3 Posts
    • 0 Thanks
    Cisconeddy
    • #4
    • 7th Dec 17, 7:42 PM
    • #4
    • 7th Dec 17, 7:42 PM
    Your credit file's going to sort itself out, unless they take court action.

    You were paying Moorcroft when they were the collector. What's the problem with paying Allied now they are the collector?

    How long will it take to repay the debt at the rate you are paying?
    Originally posted by fatbelly

    Hi both, thanks for your response.

    The credit information you have provided has cleared up a concern of mine. I was worried it may be registered a new credit agreement or default on my file.

    I have no issue paying Allied. I just had no idea who they were etc and wanted to check my facts and gain some advice on the best way to handle my situation. I have dealt with Allied tonight and set up an agreement so I am hoping this will prevent a CCJ.

    As I said. I want these defaults to drop off my file and no CCJ arriving on my file.

    it'll be 3 years ref payments.

    Thanks
    • fatbelly
    • By fatbelly 7th Dec 17, 10:27 PM
    • 11,646 Posts
    • 8,779 Thanks
    fatbelly
    • #5
    • 7th Dec 17, 10:27 PM
    • #5
    • 7th Dec 17, 10:27 PM
    That all sounds good.

    If they did ever start a court claim, or send a formal letter before action, post here again.

    I think it's unlikely given that the debt will be paid off in 3 years
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