Natwest - Removing a default

ebay*merchant

Natwest student account default:

Amount: £1300
Date: October 2009
Debt sold on by Natwest: Balance paid back in full by Dec 2010
Experian has it listed as satisfied?

I am hoping someone can help me in removing this default (assuming it is possible). After 3 years of having this account I was contacted by Natwest telling me to reduce the overdraft amount as I am no longer a student. As I was young & not fully understanding what a default would mean the letters were ignored. This resulted in the debt being sold on & me receiving a default on my credit file.

I am hoping the following will assist/help remove the default; I was still a full time student when Natwest wanted to take away the student overdraft/benefits attached to the account, will this make any difference in trying to remove the default?

Thank you in advance.

rizla_king

Seems Natwest have assumed that you you graduated after 3 years so were no longer a student. You chose to ignore them and not correct that , so the benefits of the student account including overdraft were withdrawn. Overdrafts are payable on demand and you failed to do so which would be a default.

On the face of it from what you say seems like you brought the default on yourself.

Thrugelmir

You could have sought advice from friends or family, even spoke to the lender. Doing nothing, i.e. ignoring , has no excuse.

happy_bunny_2

It sounds reasonable.

Only option is to ask nicely to remove it as you didn't understand etc.

HB

ebay*merchant

Thank you both for replying. I appreciate there is no excuse but I would like to know what my chances are in removing the default?

happy_bunny_2

ebay*merchant wrote: »

Thank you both for replying. I appreciate there is no excuse but I would like to know what my chances are in removing the default?

Slim. Asking nicely is the only way I think.

If this is your only default, they do less damage as they get older and drop off after 6 years from default date.

ebay*merchant

happy_bunny wrote: »

It sounds reasonable.

Only option is to ask nicely to remove it as you didn't understand etc.

HB

Thank you HB. Do you recommend using a template from the forum or a letter which outlines what I have said above?

happy_bunny_2

No templates needed for this.

I would ask nicely and plead ignorance.

ebay*merchant

happy_bunny wrote: »

No templates needed for this.

I would ask nicely and plead ignorance.

Do I address it to a specific department/location?

stclair

ebay*merchant wrote: »

Do I address it to a specific department/location?

The chances of getting the default removed is nil unless there some exceptional circumstances given the debt has been sold on.

When information is reported to credit reference agencies its a true reflection of how the account was managed.

However you can write to the following address:

NATWEST
CUSTOMER ASSISTANCE TEAM
DEBT MANAGEMENT OPERATIONS
4TH FLOOR
7-10, BRINDLEY PLACE
BIRMINGHAM
B1 2TZ

Having viewed this thread it appears the circumstances are different to those you have detailed above:

https://forums.moneysavingexpert.com/discussion/comment/23674009#Comment_23674009