settlements

carp1000

Hi all, hope you can offer some advice or clarify something, 5 years ago i went into a debt management plan and started to pay off my creditors, last year in june i settled all of them in full. Now on my credit report i have two entries from nat west that were in default but as i settled them last june they say settled, i thought they were due to come off my credit file this year but nat west have said that as they have given me a discount when i asked for a settlement figure(note i didnt ask for a discount they offered) that they will be keeping the information on my credit file for another 6 years and that they told me this at the time i asked for a settlement figure, now is this legal? that means they will hold information on my file for 12 years in all, thanks guys

Tixy

If the accounts had a default on them then the account/default/partial settlement etc will all automatically be removed from your credit file 6years after the date of default.

If they never had a default registered then they would stay on file for 6years from the settlement/partial settlement date.

carp1000

Thing is they had default on them up until the time i settled them, now they have satisfied against them but nat west say because they gave me a dicounted figure as a settlement they will be keeping my info on file for another 6 years for all to see

Tixy

The only way that this could happen AFAIK would be if they removed the default from your file just prior to marking them as settled. If they had done this then I think you would have cause for a complaint (if you can prove it).

When you look at your credit file it there no default date on there? Can you prove there was previously a default? an old copy of your credit file showing the default? a copy of the original default notice they sent to you?

carp1000

baines and ernst have proof of a default notice served by nat west in november 2005

carp1000

Well i have spoken to the ombudsman and the fsa and a credit reference agency and it seems that nat west are not behaving appropriately and that i should take them to court if they dont come to a conclusion in my favour in the next 10 days