Old overdraft?

rallymad

Ok, I am very nearly debt free (will be at end of April), but I have just been looking through sme old stuff and found a card for a natwest account that I opened and got a £400 overdraft on when I was a student and couldn't afford my rent.

I think I left it at -£396. Haven't touched it since then. That was back in the summer of 2002. I've changed address several times since then and have never heard from them.

Anyone any idea what will have happened? A guy I used to live with had an account and it got closed because he wasn't using it and he had to pay it back. I know I'll have to pay it back, I'm not trying to avoid that, but I guess they'll have been adding interest to it since then?

Should I go into the branch and ask them about it? Phone? (yes yes, I know the answer already...). But thanks for listening, I needed to get that out.

bobbie78

Well done for trying to go about this the right way. Maybe go into the branch and say you were going through your old paper work from uni and shredding stuff and you found this account you had, you are sure you have paid it off and closed it (slight white lie) but could they just confirm the account is closed as you wouldn't want anyone stealing your identity or anything then take it from there, depends on what they say or try and charge you as to how much you blag and try and settle.

Have you had a credit report done lately? as you would hope if they had tried to come after you (depending on how long ago this was) if there are any ccj's or anything knocking about they should be on the report possibly?

Good luck I hope it works out ok though. I'd make sure you did have a way of paying it in case they do ask you for the cash though.

CLAPTON

you seem to have two options

firstly of course you can contact them and arrange to pay it off. they will probably have added huge amounts of charges and interest. you can of course reclaim the charges using the well documented method although the normal interest will be payable. they will, alas, probably give you no credit for your honesty in offering to pay.

your second option is to do nothing. if they do not do anything until 6 years have gone by since you last acknowledged the a/c (summer 2008?) then it will become statute barred and they will not be able to enforce the debt.