Interesting result with Natwest...

Trajal

Hi chaps,

I posted a little while ago elsewhere on these forums about some issues I have had obtaining finance. Having now researched etc, I discovered that there were two defaults on my credit record which had been adversely affecting me.

Anyway, one of them is something that I accept and have had to figure out ways to pay which will be over soon, although will stay on the file for a few more years.

However, there was a default amount owing on a closed account with Natwest. Being fairly baffled over this, I did some investigating and it turns out that Natwest had applied charges to a closed account (i left them in a huff after another error) which had forced the account to re-open and then acrue in excess of £150 worth of fees from them which when unpaid (i had moved, and having closed the account, felt no need to update their records) resulted in a default being registered.

Anyway, after copious whinging by moi I got a letter through today from Natwest which seemed to convey a mixed result really.

The investigating staff member had decided that the fees were applied correctly, but as an act of 'goodwill' had decided to refund them all and close the account.

Furthermore, she wrote that as an 'exceptional matter and to bring this to a satisfactory conclusion, the bank has made a commercial decision to remove any adverse data that has been recorded on the Credit File....."

So, if I read that right, they just couldn't be bothered to fight it and have decided that whilst they think they're in the right, they are giving up and clearing the record in question totally?

Did I read that right? I'm pleased that they'll remove the default, leaving me with only a single nasty from some time ago, but it seems an odd position for a bank to take...

Should I just count my lucky stars and move on, or am I missing something here?

fermi

I suspect that they may know that they were in the wrong, but that is the closest they will come to admitting it?

Or otherwise, as you say, it's just not worth their while trying to fight?

A clear admission that they were wrong may leave them open to a claim for compensation, so they will avoid that if at all possible.

Culex

fermi wrote: »

I suspect that they may know that they were in the wrong, but that is the closest they will come to admitting it?

Or otherwise, as you say, it's just not worth their while trying to fight?

A clear admission that they were wrong may leave them open to a claim for compensation, so they will avoid that if at all possible.

If he were to take the matter to the FOS - as I believe he still should - the onanists at NatWest would be charged at least £500. It was therefore less expensive for them to settle.

flybutterfly

Trajal

dont forget to keep that letter forever, just incase you need proof at a later date that the account is settled