Default on a bank account

Skintee

Due to a rather rubbish year (or 5) which I'm not going into, the Nationwide cancelled my £1000 overdraft and demanded immediate repayment as I kep bouncing direct debits. I agreed to pay £130 a month. I have now done this and have payed it all back. But there is now a default registered on my account and I cant use the account even though it is in credit. Is there any way I can now have the default removed? Or am I stuck with an awful credit rating for the rest of my life?
Any help is appreciated, as it looks like it is stopping me getting a new mortgage/porting my mortgage across now that I have finally sold my house after 3 years on the market....

tokyophil

There are ways to improve your credit rating in time, but don't think there is any real quick fixes. There are sections on here as to how do that - things like using a credit card and ensuring you pay it off in full help but sure someone bette rthan me will be able to guide you or direct you to the correct place.

In relation to this individual bank account, you may need to make an appointment and meet one of their advisors. If you have an agreed payment scheme in place they might reinstate it for you, though not sure if the overdraft will be returned...

Skintee

I wouldn't want the overdraft back!! I'm glad to see the back of it! But maybe I'll try and call them again, as last time it was purely about my mortgage.
Thanks

CLAPTON

it's unlikely that the default will be removed because it correctly says what happened
the default will stay on your file for 6 years

stella2009

Skintee wrote: »

Due to a rather rubbish year (or 5) which I'm not going into, the Nationwide cancelled my £1000 overdraft and demanded immediate repayment as I kep bouncing direct debits. I agreed to pay £130 a month. I have now done this and have payed it all back. But there is now a default registered on my account and I cant use the account even though it is in credit. Is there any way I can now have the default removed? Or am I stuck with an awful credit rating for the rest of my life?
Any help is appreciated, as it looks like it is stopping me getting a new mortgage/porting my mortgage across now that I have finally sold my house after 3 years on the market....

You could appeal to their better nature and ask them to remove it now that you have paid the dept.

It's unlikely they will though and you definitely can't demand the removal as it's a true reflection of the account conduct.