Debt advice needed ASAP - ex-student with forgotten debt

blackberry10

Good Evening All,

I was hoping somebody could be of assitance and help me with the current circumstance i find myself in.

Background:

I graduated university in 2010 and during my time i decided to take advantage of the student overdraft offered to me by my RBS account. Needless to say, being a student i took full advantage of the overdraft and of the £1500 offered, was always close to utilizing the full amount.

On graduating university, i decided to go travelling for a year and up and left the UK not thinking or worrying about the £1400 overdraft left on my account. On my return, a year later, i found myself a good job in London and continued as normal.

7 months later i have tried to obtain a car financing option but have been refused. After checking my credit report RBS defaulted the £1400 which was on my student account, absolutly destroying my credit score.

After searching the internet for a solution i found many sites which said removing a default is almost impossible.

What would be the correct way to deal with this issue, and is there any way to remove the default from my file? I have already spoken with my parents and i can have the £1400 paid off straight away, but i also want the default removed as ive read it can stay for six years? I have no clue who to write to at RBS to even begin to find a solution to the circumstances i find myself in.

Any advice would be much appreciated and i thank you in advance.

BlueC

"not thinking or worrying about the £1400 overdraft left on my account"

Which you then defaulted on. And now you want RBS to remove that default? Unlucky, it is there to stay. And rightly so because the whole point of the default and credit referencing system is to warn other lenders that you may "not think or worry" about the money you borrow from them too.

blackberry10

Thank you for the advice - that was really helpful. If i wanted a sarcastic answer i would have requested one in the subject.

I apologise the whole situation of finishing university and preparing to leave home for 12 months meant certain things slipped under the radar - not on purpose i might add.

BlueC

I wasn't being sarcastic.

My response still stands whether you purposefully forgot or just absent mindedly neglected to remember. You defaulted on a debt and RBS have reported that on your credit file accordingly. Your excuse is not at all valid and I'd be amazed if they removed it. As I said, the referencing system is designed precisely to flag up people who are bad debtors, such as yourself.

It is an unfortunate thing to have happened to you but hopefully it has taught you a lesson well worth learning. Welcome to the world of responsibilities.

blackberry10

BlueC wrote: »

Welcome to the world of responsibilities.

Definately not sarcasm.

beadgirl87

Contact rbs with your account details and say you want to pay off the overdraft. I guess if you don't know them maybe a trip into your local branch with id etc could help you find the account. Pay it off, and then start to run your credit accounts well, paying off any credit cards in full every money. Gradually your credit file will improve and show you are a good borrower.
Look at how much credit you have compared to your income as if it a high amount it may be difficult to get more credit anyways.
If you have a good job, you could save the money for the car and then buy it outright.