Advice on defaults

curious_1

Hello there people,
Nice to finally join the forum.

Straight to it.

While in Uni, took out an overdraft from Natwest(came together with my student account: £1250). Finished in 2009 and and travelled out of the country for 2 years. Figured when I work abroad, will be able to pay back the overdraft. How delusional I was. Together with this, I had a credit card of £350.
Now, that's all the debt I have to my name. Didn't take student loan or anything. During my time abroad, turns out my debt was sold to a debt collection agency and I think I got a letter from the courts (not sure about this though).
I want to pay the money back, since I'm back in the UK. Do I contact Natwest about it?
Don't know if this helps. But recently registered to Experian and my default did not come up at all. A good thing I guess.

Thanks in advance.

happy_bunny_2

Also worth checking Noddle and Equifax.

If you think you might have a CCJ, check trust online with your old address. If not showing on your reports.

You might find after checking your credit report, the owner of the debt gets an alert for a linked address and starts chasing you. Only if the debt is on there mind

curious_1

Thank you very much for your reply. Much appreciated.

Will do as advised. To be honest, I think when I took out a phone contract, they probably have received an alert.

Guess the real question is, knowing that I owe the sum total of £1600. Can that affect my credit rating in a huge way, as opposed to if I owed £3000?

Also, how will I get to know who bought the debt? So I can pay it back (that's incase they don't contact me). And, if after paying it all back, how do I get to remove that default from my credit history? Is this possible? Will I have to speak to Natwest (the original owner of the debt)?

Thanks again in advance.

worried48

Assuming it's on your credit report, your credit is screwed for six years. Sorry. I don't think there is anything at all that you can do about that.

curious_1

worried48 wrote: »

Assuming it's on your credit report, your credit is screwed for six years. Sorry. I don't think there is anything at all that you can do about that.

Screwed for defaulting on £1600??

And there's nothing I can do about it? Not even if I pay it all?

Would you also say I should bring it to whoever's attention if it isn't on my credit report?

Thanks again

happy_bunny_2

I would check the CCJ and keep quiet as not on credit report.

If someone finds you then deal with it then.

Once defaults are 3 + years old you should be able to get some cards or loans as some only search 3 years. If not on report it doesn't matter.

Defaults stay on file for 6 years from default date.

curious_1

Just remembered what you said about me sending an alert when I register for credit report.
Knowing this, would you say I should still check it? And, part of the checks in my job is credit check. Do you think me signing up and checking my credit report will have an impact on my credit score?

Thanks in advance.

happy_bunny_2

If you have already registered with Experian then I suspect any damage is done.

Check trust online. Never used it, but you will be using your old address.

Credit scores are meaningless. The real issue is what it says in your job terms etc about what they are looking for.

If you have a CCJ, then it drops off the register and credit report after 6 years, and if not any default would only stay for 6 years.

So the longer it stays off your record, the less time it will stay on for if it appears.