Natwest- removing a default

jade-evie

MoneySaverLog wrote: »

It will just be as bad in any lenders eyes, a default satisfied or not is still a default to them.

As a result you're unlikely to get any standard mortgage, or any other credit product, with that stuck on your file. You could look at sub prime but interest rates will be considerably higher :-(

Yes, we know this. My other half's credit rating is very good however and we are hoping that in another 18 months (ish) we will be able to get a mortgage through a broker with a 15% deposit. We both earn a decent wage with a combined income of just under £50k which will seem much more when our daughter starts school next year and our nursery fees diminish!

I do have other credit though- I have a vanquis credit card, a next account, a store card and a contract mobile which are always paid on time and all have relatively small balances (less than £600 between all 3) but with good credit limits. By the time we are in a position to buy all of these balances will have been settled and I will be using the cards only when I can afford to pay the balance in full the next month.

I also have a car on HP which, again, I have always paid on time. This has another 2.5 years of monthly payments before the balloon payment is due which I plan on paying and running the car into the ground as opposed to taking a new agreement.

My credit score on Equifax is 519.

MoneySaverLog

Firstly any credit score you get from the agencies is not worth the paper it is printed on, don't pay for it. Only the data is worthy of consideration.

If you have any kind of past default, and you apply jointly for a mortgage, you will find it difficult, if not impossible, to be accepted for anything other than sub prime. I know I have one that will not drop off until next year, despite it being settled.

It's good that you're building up some positive credit history which will help, but if I was in your shoes I'd use the letter stclair has posted to try to get the default removed that way.

Emmey

i've been trying to get defaults removed off my credit file, but found that when I've sent that letter above, they are refusing to provide any information as they say the account is now closed and satisfied so no obligation to send me the default notice

yazzypower

Remember if you settle the default it will remain on for a further six years from the date settled, its not like a ccj where if you satisfy it, it will come off from the date the ccj was given and not the date it was satisfied. My advice don't settle the default it just looks the same to lenders and will remain for a further six years just wait until it comes off. your choice though!

MoneySaverLog

yazzypower wrote: »

Remember if you settle the default it will remain on for a further six years from the date settled, its not like a ccj where if you satisfy it, it will come off from the date the ccj was given and not the date it was satisfied. My advice don't settle the default it just looks the same to lenders and will remain for a further six years just wait until it comes off. your choice though!

Actually a default, settled or not, will remain for 6 years from when it was first registered and not when it was settled in the case of a settled default.

Settling a default just stops them selling the debt on so another DCA cannot contact you about it

MoneySaverLog

Emmey wrote: »

i've been trying to get defaults removed off my credit file, but found that when I've sent that letter above, they are refusing to provide any information as they say the account is now closed and satisfied so no obligation to send me the default notice

Well if they still wish to report the account as in default then they should supply it. Otherwise, they must remove the default notice.

Complain to the Information Commissioner

j1fbo014

I too have a natwest default added to my report and have requested a copy of my CCA, but no response from them after 14 days. If i am successful after the sending the further 2 letters (ie. formally in dispute allowing further 30 days, and then unenforceable after 44 days), i was thinking of trying to get the default removed using the above template letter.
I have used this letter to a DC (i have 2 defaults from teenage stupidity) but the response i got back from them was that it is not a legal requirement for them to supply me with a copy of the default??? is that correct? or should i send a reply of some sort?

BugsyBrowne

j1fbo014 wrote: »

I too have a natwest default added to my report and have requested a copy of my CCA, but no response from them after 14 days. If i am successful after the sending the further 2 letters (ie. formally in dispute allowing further 30 days, and then unenforceable after 44 days), i was thinking of trying to get the default removed using the above template letter.
I have used this letter to a DC (i have 2 defaults from teenage stupidity) but the response i got back from them was that it is not a legal requirement for them to supply me with a copy of the default??? is that correct? or should i send a reply of some sort?

What were the defaults for? did you have a debt which you decided not to pay.

chanz4

the template above does not work, its been floating about the net for ages. The creditor only has to prove via an entry that one was sent

MoneySaverLog

j1fbo014 wrote: »

I have used this letter to a DC (i have 2 defaults from teenage stupidity) but the response i got back from them was that it is not a legal requirement for them to supply me with a copy of the default??? is that correct? or should i send a reply of some sort?

They have to issue a default notice to you and allow you a certain amount to time to resolve the issue before notifying the CRA. If you are saying you never received the notice then there may be some grounds to getting it removed. They should supply you with a true and certified copy of the default notice.

If you get nowhere with the Data Controller at NatWest I'd suggest sending all correspondence and a written complaint to the Information Commissioner / Financial ombudsman service.