Urgent Help Required Please!

bjones2007

I currently have arrears of several hundred pounds on my Nationwide credit card.

After little payment for a few months now my case has been passed to KPR debt collection agency who have threatened to issue me with a CCJ!

Secondly I have a graduate loan with Natwest bank. This loan does not for some reason show up on any of the three major credit reference agencies(Callcredit, experian, and equifax)

Natwest are threatening to default my account if payment is not made by Tuesday!!!

They say this will affect my credit record.

Can they now record a default on my credit record, despite not even recording that I have a loan with them?

As some of you already know, I currently work in a bank, and there is no way I can afford to have a default, let alone a CCJ!

My outstanding balance on Nationwide is: 3390.91 of which around £600 is arrears.

My outstanding loan balance is £5770 of which around £2440 is arrears.

Is there anything I can do to stop any of this???

bjones2007

Natwest also said that going to CCCS will severley affect my credit record!

I need urgent advice from someone, if there is anything I can do to stop a default and to stop a CCJ.

beanielou

Sorry, dont think there is much youcan do other than coming up with the money.
Dont think there is anything to stop Natwest from registering a default.
Surely your credit record is already affected by the arrears that are on it?

notenoughcash

Sorry bjones but I think beanielou is right, you will have a late payment marker as soon as any payment is late and generally after 3 months of none or less-than-minimum payment you will get a default. I also know how scary it is to be in financial difficulties whilst working for a financial institution, I aslso worked for one of the main banks for 7 years and the last two of those 7 years I racked up dozens of defaults. However, on the bright side of that, they only credit check you before they employ you and I'm not aware of any clause they have that means they can get rid of you because of it if you are already an employee (I was know of a few staff members who were in a much more serious position than me that the bank were aware of and it didn't affect their job)

Should this be passed to a DCA they probably will threaten you with court action but pwon't necessarily go through with it if you are making regular payments and can provide them with a budget summary to show why you can't increase your payments.

bjones2007

beanielou wrote: »

Sorry, dont think there is much youcan do other than coming up with the money.
Dont think there is anything to stop Natwest from registering a default.
Surely your credit record is already affected by the arrears that are on it?

Yes but the natwest loan simply does not even show up on my credit record at the moment!

I think it's because they perhaps did not credit check me when they gave me a graduate loan.

Can they now still register a default, on my credit report, despite not having recorded anything previously at all??

beanielou

bjones2007 wrote: »

Yes but the natwest loan simply does not even show up on my credit record at the moment!

I think it's because they perhaps did not credit check me when they gave me a graduate loan.

Can they now still register a default, on my credit report, despite not having recorded anything previously at all??

Yes, in short they can.
Sorry to be the bearer of bad news.