Student loans and defaults

J.Mourinho101

Hi, oh and HELP please, I have defaullts on my credit file from my days as a student. one of these is coming off the file in 6 months, the other in a year and six months. i have not made a single payment towards any of them in 6yrs. Only last week NATWEST had no record that i owe them almost £2000. they advised me to go into a branch and speak to one of them face to face, oh and take ID with me. O2 also have no record that i owe them almost £400, they have advised me to e-mail them with all my current details, address etc. All this info is on my credt file though. I am going out of my way to try and get these off my credit file. i,m having to use my own money to get in tuoch with these companies, Should I go into Natwest or wait for them to contact me? as for o2 that default is coming off my file in a few months anyway. should i pay it off? any help would be appreciated.

niccatw

Even if you paid them off tomorrow, the defaults would remain on your file until the six years is up. It's unlikely that the companies would remove them before then.

While I think we ought to pay back what we owe, I personally wouldn't be chasing a company who had no record of me owing them money! I'd be inclined to go down the unenforceability route should you need to when the time comes (see the thread, it's usually on page 1 of this forum somewhwere).

jonjamie1970

niccatw wrote: »

Even if you paid them off tomorrow, the defaults would remain on your file until the six years is up. It's unlikely that the companies would remove them before then.

While I think we ought to pay back what we owe, I personally wouldn't be chasing a company who had no record of me owing them money! I'd be inclined to go down the unenforceability route should you need to when the time comes (see the thread, it's usually on page 1 of this forum somewhwere).

Totally agree with this 100%

J.Mourinho101

thanks, the defaults come off my account in 6 months and 18 months. i would not like this to continue to damage my credir thats why i had gone down the route of contacting the companies involved. it now seems like a very long process for me to give them the money i know i owe. i am being passed from one department to the next and am fed up or it all. think i will wait until they contact me, and hope the defaults will fall off my record in the next few moths.

DarkConvict

Even if you settle the default, it is not really going to help you out as it stays on your record for the original default date. You should just have waited for them to fall off and go statute barred. If however you have written to them acknowledging the debt the 6 year clock will now have been restarted. You can't really undo the damage of defaulting.