Defaulted Natwest Account on my Credit File

parkwoll

I have a defaulted account on my credit file from Natwest. This Natwest account was settled through an IVA that I have now completed. Natwest accepted this as full and final settlement of the account and have not asked me to pay any more money. The balance owing to Natwest is now showing as zero on my credit file but the code used is "8" which means default. This is showing on a recent copy of my credit file. The NatWest account is now closed but still shows defaulted even though the balance is zero. I have written to them on numerous occasions to either remove this account or put it as fully settled. I have been into my local Natwest branch to sort this out and they stated that as my current address does not match the one when the initial account was opened (because I have moved house since then) they said they cannot change anything regarding the account as the account is now closed. I have written to the main Natwest Office in Brindley Place, Birmingham but I have had no response. The IVA was completed in August 2012 and a certificate of completion was issued. A copy of this was sent to them but they have still not removed it. My credit file is good apart from this and my IVA is not even showing on there now as it has been completed. As a result this is greatly affecting my credit score when applying for a mortgage and is having a major negative effect on both mine, and my partners future. What can I do next? How do I proceed? How can I get this updated on my credit file and who do I contact as I am having no luck with Natwest. I am at my wits end with it and don't know what to do next! Any advice will be much appreciated!

Kernel_Sanders

Eleven !s is way to many.
Why do you expect a new lender to be denied the vital info that you defaulted on a previous loan and will never pay it off in full?

happy_bunny_2

How long was the IVA over?

If less than 6 years, then the account may still be there.

When did the account default?

If you are not happy with Natwests response, then refer to FOS. Can take months mind...

safestored4

Potential lenders will be more than happy with Nat West's approach, as a cautionary message that they may not get their monry back if they lend it to you.

parkwoll

It wasn't a loan, it was a Natwest Bank Account which was settled over 8 years ago. I am not trying to deny information to anyone. I am simply trying to get advice on how to remove something from my Credit File that is not relevant as it has been settled many years ago but is still showing as defaulted even though Natwest accepted and agreed to the terms and conditions of my IVA which was taken out to pay the creditors in the first place. Every other creditor on my IVA is now showing as settled and have been for years, since my IVA was successfully completed. The only one that is not, is this Natwest one which they are agreeing has been settled and that I don't owe them any money, but for some reason is showing as a default of zero. That's what I don't understand and I have not received any adequate answers fro Natwest when I have tried to sort it out. I came on here because I have tried every other avenue in order to try and get it removed from my Credit File and have come up against a brick wall with Natwest. I was hoping that someone might be able to offer advice or point me in the right direction. I haven't come on here to end up being criticised on my first ever post. If you can help, I will be very grateful. If not, no problem. Thanks in advance

parkwoll

Yes writing to them was a complete waste of time. Probably went straight in the bin. I only wrote to them as a last resort after getting no joy from speaking to Natwest staff in branch who were useless.

happy_bunny_2

What's the default date? If settled 8 years should it should be gone by now.

If they ignore your letters, ring the FOS for advice:
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Also, which CRA is that on. All of them?

Don't bother talking to branch staff. Deal with the complaints department.

parkwoll

The IVA was over 4 years and was completed in 2012. Default date was 2006. This Natwest issue is only showing on Experian, it is not showing on any other Credit Reference Agency which makes it even more frustrating. I will speak to the Financial Ombudsman to at least get the ball rolling. Thanks very much for your help so far. I spoke to Experian to see if they would remove it. They said that all they could do was put a note on my file to state that this was no longer a defaulted account, and that it had been settled. They said that I would have to write to Natwest to ask them to remove it which I have done but got nowhere.

Thrugelmir

Given that you only completed the IVA in August 2012, This will have a seriously detrimental impact on a mortgage application. Unless you have a sizable deposit to put down.

parkwoll

Yeah tried the Mortgage application and I do have a sizeable deposit of £60,000 to put down but had no joy. I understand that this is due to the IVA but my main concern is getting this Natwest default removed from my Credit File as this is not helping either and it shouldn't even be on there due to the fact that it has been settled. I've got no chance of getting a Mortgage when they take into account this default on my credit file as well as my previous IVA. Its just so frustrating when I keep getting no answers or help from Natwest and its only them who can get it removed. Even more frustrating that its only showing on my Experian Credit File and not any others that I have recently requested. They are all fine. Thanks for your help and advice.

stclair

You need to write to they are the ones who deal with this type of query.

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

If you have had no joy maybe send them a reminder recorded delivery.

Or raise a concern following the banks complaint procedure:

https://www.natwest.com/global/contact-us/complain-js.ashx