Clear Natwest Default by offereing FULL payment INC charges

andymcq_2

VEry long story but one I have read many times before.

• Wife and I had joint account that was dormant, we moved home.
• Wife used dormant account nearly to limit,
• Wife paid into account cleared balance,
• Natwest debited interest which sent it overdrawn
• Despite being advised of address change they consistently wrote to old address.
• Before we knew it £500 of charges.
• Triton credit services get involved.
• I made mistake of paying £300 in full and final settlement
• Default was then registered
• Tried the method of asking for a copy of default notice and disclosure etc etc

I have been sent the final fob off with a transcript of a system generated Default letter. Now I know I have no chance of having default removed as Natwest dig there heals in over overdrafts not beeing regulated by the CCA.

So my next method is going to be to offer the following..

The reason being is the rest of my credit record is perfect, and this default for £300 is very detrimental to my business and to be honest is costing me more than even the principle, also legal fees to sort this would be more than £300 so do you think this may work or do I need to add any thing to the letter?
[FONT=&quot]I write with reference to previous communication regarding an outstanding balance on the above mentioned account and wish to make an offer without prejudice to resolve that will suitably please both parties.

I do have an outstanding balance on the account, as you are fully aware this is made up primarily of charges. However, a default to you and no payment will not achieve much and so I therefore write to try and resolve matters amicably, that will suit both of us long term. I propose to offer a full and final payment to settle and close this account to the value of 100% of the original amount, which will take into account and absorb, a lot of the charges that have been added to the account throughout time.

The alternative is for me to place the account formally into dispute and demand s.10 CCA (1974) is brought into play (cease & desist) whilst I reclaim all unlawful charges combined with all costs. I shall then look at the legality of the assignment of debt; the issuance of a default notice and the agreement (prescribed terms) and between them, I'll probably be able to counter sue and litigate over unenforceability.

To summarise, I am more than happy to settle as much as 100% of the total amount owing so long as you can agree to, and ensure that, the following actions will be carried out; [/FONT]
· [FONT=&quot]The Default Notice will be removed[/FONT]
· [FONT=&quot]The Status of the account will change from “Defaulted” to “Settled”[/FONT]
· [FONT=&quot]The Current Balance will appear as £0.00[/FONT]
· [FONT=&quot]The Default / Delinquent Balance will be set to £0.00[/FONT]
· [FONT=&quot]There will be no date in the “Defaulted Date” field (as it will be removed)[/FONT]
· [FONT=&quot]There will be no date in the “Date Last Delinquent” field on the report[/FONT]
· [FONT=&quot]This will apply to all 3 Credit Reference Agencies, namely Experian, Equifax & Call Credit[/FONT]
[FONT=&quot]If you're happy with my proposal, please respond confirming each of the above points on official letter headed paper, confirming the exact amount owing and I will send a cheque by return. Failure to agree will result in more formal papers being sent, by return.

I look forward to your response.

[/FONT]

andymcq_2

Has noone any comments?

I know its unusaual asking the bank if I can pay all the charges rather than a refund? but as said above the Default is costing me more than the £300...

Ideas folks?

PS thanks in advance for any comments.

DGJsaver

You contradict yourself , you say you understand Natwest `dig their heels in regards CCA not applying to an Overdraft` and then later say you will put the account into dispute using CCA legislation , when said legislation has no bearing on overdrafts ?

Experian_company_representative

You don't say when the default occurred - bear in the mind the default will drop off your report after six years. You also have the option of adding a notice of correction to explain the circumstances to other lenders while it remains.

I'd like to clarify a couple of things regarding your proposal to the lender if that's ok.

Firstly, the information on your credit report is not a default notice. The status of the account has simply been set to 'default' to indicate the severity of the repayment lapse. You don't need to receive a default notice in order for the status of the account to be registered as 'default' on your credit report.

Also, on Experian, the status of an account can't be registered as settled, just the current balance.

Hope that helps.

James Jones