Default removal and striking a deal with DCA

IDer89

So I might be posting this in the wrong section but I've had some nasty comments directed to me when posting in other sections so figured those of us at DFW who have made mistakes and are more forgiving might be able to help whilst not looking down their noses at me.

I moved abroad in 2012 with £1400 spent on a Natwest student/graduate overdraft. I informed them I was moving and the best address to reach me on would be at my parents house where the account was registered to when opened.

In April 2014 the interest must have kicked in when the interest free was lowered from £1600 to £1000 and took the balance to £1595 for which according to Equifax is when Natwest started to request payments. I have no idea what happened since I'm locked out of the account.

My parents received no letters and the account was put in to default in July with the debt passed on to Apex.

I returned to the UK in August and I didn't find out about the problem until middle of September. I checked with my old landlord which was the only other address associated with the account and there was no letters received either.

Now I'm aware that the account was overdrawn but I thought I was in my limits and agreement. If I had known about any problems I'd have dealt with it but as money was tight I didn't want to pay off debt when I thought I didn't have to.

Now I'm more secure I want to try have the default removed going through the usual channels but I've read that the DCA (Apex) might accept a deal to close the case. I've paid £750 so far with monthly instalments scheduled and the intention of paying larger chunks when money is available.

My question is if a lesser amount is paid than the original debt, let's say 60p on the pound bringing my total owed to Apex at around £957 would that impact in my chances of having the default removed by Natwest?

I'd much rather pay the full amount to Natwest to retain a somewhat healthy banking relationship with them as this was an unfortunate mistake due to my work taking me abroad but since they sold the debt I have no choice and might as well save money if I can.

If the default isn't removed how would it look on my file for the next 6 years? Would it show as settled if I manage to strike a deal and pay a lesser amount?

glentoran99

Id very much doubt the will remove the default, its accurate information, if you agree a lesser amount it will show as partially satisfied

glentoran99

IDer89 wrote: »

Thanks for the reply. Well from what I've been reading in some cases if there were no warning letters sent or they were sent to a wrong address then they shouldn't have defaulted the account. None the less it's worth a shot rather than sitting in silence.

I thought as much with regards to the lesser amount. Fair enough, as it's debt I accumulated so will pay back what I owe in full.

Saying that now i paid two lesser amounts and they are marked as satisfied, only 1 has marked as partial,

Not sure it makes much practical difference marked as partial or full, its still satisfied

glentoran99

IDer89 wrote: »

I'll keep that in mind. When some more funds become available I'll give Apex a call and see what the situation is, I know they must have purchased the debt at a lesser amount so we'll see if they'd inform Natwest of it being satisfied or leave it as partial.

they dont inform natwest of anything if its been sold on natwest have no lnoger anything to do with the debt

I would start at 25%, Recently settled 3 different debts for 25% 70% and 85%

glentoran99

IDer89 wrote: »

Oh interesting. Apex told me they inform Natwest at the end of every month for which then Natwest updates my credit file showing how much is left in debt etc

Ah ok then APEX possibly havent purchased the debt and are just acting as agents for natwest, who shows on your credit file as owner?

glentoran99

IDer89 wrote: »

So far still Natwest but it hasn't been a month yet since I made contact with Apex to start bringing things in to order.

When I spoke to Natwest after initially being locked out of the account I was able to make a full payment there and then to them but they told me Apex were dealing with it now. I assume this meant they had purchased the debt.

not necessarily, they may have just assigned them to chase it for them, Red castle were chasing me for BOI debt but it was still with them