Credit card account defaulted two years ago has only just closed

razingtonbear

When I was younger I foolishly took out a student credit card with Natwest to help me through university, but things got a little out of hand payment wise and it ended up defaulting. I received a letter requesting payment in full for the outstanding balance and immediately paid it, assuming that was the end of it.

I know that this will stay on my record for 6 years, but today I received another letting saying that as my credit card debt has been repaid in full, the account is now closed. This letter has come just over two years since the date I paid the debt in full. On my credit report the account status is 'default' and the balance 'satisfied', with the date being July 2012. I had assumed the account would have been closed at the time they demanded payment and I satisfied that payment.

I'm now worried that after receiving this letter today, once Natwest update their records again, my credit file will show the letter date as the finalised date and an extra two years are going to be added back on to the account satisfaction date. Is that a possibility? And is there anything I can do to change that?

Hazzinho

It stays on your report 6 years from the default date, this never changes so it drops off the same date despite just being closed.

McKneff

Hazzinho is correct.


Stop worrying....

happy_bunny_2

keep a copy of that credit report, just in case.

Chances are its being sold, so will be removed by Natwest and added again by the new owner. The date should not change, but not all DCAs are competent or trustworthy.

glentoran99

happy_bunny wrote: »

keep a copy of that credit report, just in case.

Chances are its being sold, so will be removed by Natwest and added again by the new owner. The date should not change, but not all DCAs are competent or trustworthy.

whats being sold? He has paid it off in full?

razingtonbear

Thank you for the responses, I do feel better about the letter now.

happy_bunny wrote: »

keep a copy of that credit report, just in case.

Chances are its being sold, so will be removed by Natwest and added again by the new owner. The date should not change, but not all DCAs are competent or trustworthy.

As mentioned by the poster above, I paid the full balance in one go as soon as it was asked for after the account defaulted, which was just over two years ago. There shouldn't be any debt to sell on, and my report shows there has been a £0 balance since 2012. I was worried that since I have only just been told the account is closing, the date might be updated to reflect that and the last two years would have meant nothing in terms of waiting for it to be removed from my record.