Desperate for Help or advise on credit score query

sg77

At a loss on where to turn or who to speak to now.

My husband had a business account with natwest, he had an overdraft and loan. We got into trouble a few years ago when the recession hit and we got behind in the payments to the loan and the overdraft.

We spoke to Natwest to advise of our situation and we came to an arrangement where we paid £100 off a month for the O/D and £100 for the loan, we have statements proving the money went out of our accounts to Natwest (the payments went to Natwests collection department).
However when the we had confirmation from Natwest to say that they had received full and final settlements for both accounts we looked on Experian report and according that we missed every single payment for the loan even though we were paying it off. We contacted Natwest and they said that the reason was is that they pay off the bigger debt first which was the O/D.
What I don’t understand is that we were paying 2 separate amounts to pay off out debts and as far as we are concerned we were paying these on time and within our arrangement with the bank. My husband credit score is now so low that we can’t even consider moving, even though we are more than solvent and he is no longer self employed and these accounts revert back from over 3 years ago. We have tried going down the Ombudsman route and they agreed that it wasn’t a fair account of our payments and even if we were paying a penny a month it was still a payment against the account. I just feel that we are being punished for a mistake many years ago and even though we did the right thing, we cannot move on.

Can anyone help me or advise on what we should do next

Many thanks
S

National_Debtline

Hi sg77

sg77 wrote: »

At a loss on where to turn or who to speak to now.

My husband had a business account with natwest, he had an overdraft and loan. We got into trouble a few years ago when the recession hit and we got behind in the payments to the loan and the overdraft.

We spoke to Natwest to advise of our situation and we came to an arrangement where we paid £100 off a month for the O/D and £100 for the loan, we have statements proving the money went out of our accounts to Natwest (the payments went to Natwests collection department).

Did they give any confirmation of this arrangement in writing? There's always a danger of verbal agreements being interpreted differently by the two sides involved.

sg77 wrote: »

However when the we had confirmation from Natwest to say that they had received full and final settlements for both accounts we looked on Experian report and according that we missed every single payment for the loan even though we were paying it off. We contacted Natwest and they said that the reason was is that they pay off the bigger debt first which was the O/D.
What I don’t understand is that we were paying 2 separate amounts to pay off out debts and as far as we are concerned we were paying these on time and within our arrangement with the bank. My husband credit score is now so low that we can’t even consider moving, even though we are more than solvent and he is no longer self employed and these accounts revert back from over 3 years ago. We have tried going down the Ombudsman route and they agreed that it wasn’t a fair account of our payments and even if we were paying a penny a month it was still a payment against the account.

Can you elaborate on what the Ombudsman had to say? Did they ask Natwest to take any particular steps to remedy the situation? Have you considered raising the matter with the Information Commissioner www.ico.gov.uk - if you have reason to believe that any of the information on your credit file is incorrect, they may be able to intervene.


Regards

Dennis @NDL