Natwest claiming to keep credit info forever!!??

Sarahlouy

I've recently paid off an outstanding debt with Natwest for £1200, which I have been making payments to since a default on a joint bank account in 2009. The relationship went sour and I've been left to pay the whole amount on my own. Now I've been told that my ex needs to authorise my name being removed from the account so I'm not financially associated, which isn't an option as I don't know where he is, AND they've said that never again in my life will I be able to get any products from Natwest for the rest of my life! This is rediculous as they can only keep my details on file for 6 years? Worried about getting a mortgage now as they're owned by RBS? Can they really restrict me for the rest of my life because of a naive mistake I made when I was younger?

rizla_king

They can keep information longer than 6 years if there is a justifiable commercial reason for doing so. Keeping complete full details of the accounts could not be justified, but simply keeping a record of the fact you had a bad debt with them and they no longer wish to do business with you can be kept for ever.

CKhalvashi

They can stop you using their services for as long as they wish, as it's their money they're lending and you've demonstrated once already you can't pay back on contract.

The default, if from 2009, will disappear this year, so I'd recommend after this, trying with another provider, each of which will have its own appetite to risk.

Archi_Bald

They are entitled keep a note of your name and DOB forever if they have decided they will never offer you an account again. There is nothing you or any Court can do about this - and it isn't the end of the world, there are plenty of other banks.

Unfortunately, their T&Cs state that joint accounts can only be closed when both account holders agree. When the account is not overdrawn, and there are no DDs and/or SOs on the account, it seems highly unreasonable, however, to insist on this, particularly if they are aware that the relationships has broken down years ago. I would formally complain to them about this, and take them to the FOS is they insist on being unreasonable at the end of the complaint period (8 weeks).

Hope you can get this resolved before long. Don't take out another joint account, not even with the new love of your life.

Thrugelmir

Sarahlouy wrote: »

Can they really restrict me for the rest of my life because of a naive mistake I made when I was younger?

Nothing naive about defaulting on a debt then taking years to repay it. Lenders like any business can choose who to do business with. Relationships are 2 way.

usefulmale

Thrugelmir wrote: »

Nothing naive about defaulting on a debt then taking years to repay it. Lenders like any business can choose who to do business with. Relationships are 2 way.

Ignore the condescending poster boy. The bank could have chased the OP's other half so this was a three-way relationship. But they always pick the easy targets, don't they?

OP - You don't need Natwest. Plenty of other banks to try, once your default has dropped off. Full marks for taking full responsibilty and sorting out the debt, unlike your ex.

kloana

Sarahlouy wrote: »

I've recently paid off an outstanding debt with Natwest for £1200, which I have been making payments to since a default on a joint bank account in 2009. The relationship went sour and I've been left to pay the whole amount on my own. Now I've been told that my ex needs to authorise my name being removed from the account so I'm not financially associated, which isn't an option as I don't know where he is, AND they've said that never again in my life will I be able to get any products from Natwest for the rest of my life! This is rediculous as they can only keep my details on file for 6 years? Worried about getting a mortgage now as they're owned by RBS? Can they really restrict me for the rest of my life because of a naive mistake I made when I was younger?

I'm convinced Natwest are doing the same to me. I shafted them when I was a student, by managing my affairs (overdraft, chequebook, credit card) appallingly - and not paying it back. Bear in mind I started uni 12 years ago, and my defaults with Natwest will have disappeared at the very latest more than 6 years ago. But Natwest won't touch me with a bargepole. I saw the light 10 years ago, and seriously cleaned up my act. I'm now a very good credit prospect, in terms of having a squeaky clean (and diverse) credit profile for all those years.

But every time I come up against a Natwest product (I'm a card-tart and a general credit rate-chaser), computer says no. They're one of (if not the) only major banks I've been unable to obtain some form of credit from during the past 10 years.

And I don't blame them - I was a shocking customer!!! And I deserve what I get. Think about it, if a boy broke your heart when you were a teenager, would you automatically get back with him when you were 30, just because so much time has passed? :rotfl:

As for disassociating with your ex, put it in writing. I had to disentangle from a joint account with an estranged ex a few years ago (he emigrated).

Sarahlouy

Thank you everyone, I needed to check as it really upset me. The naive mistake was getting a joint account with my ex after not being together as long as we should have been. He quit his job and decided to live on benefits, as someone who has always had a job I tried to keep up with our outgoings but just wasn't earning enough to make ends meet. Ended up leaving him and moving home. Just upset that this is still haunting me and now it seems it may do for the rest of my life

JKSandy

Banks can hold onto information as long as deemed necessary which is on par with "how long is piece of string?"

However I don't believe when its paid back that you will be exiled from them forever. And as someone else pointed out Natwest/RBS does not have to be your only option.

Armorica

While the account remains open, they will obviously keep in information. And it is common for banks to keep information for 6 years after the account is closed (or longer if they feel necessary).

As above, if the debt is clear, then not closing the account sounds harsh. I'd agree with complaining and then raising with FOS with the view of at least getting your name off the account.

DevilsAdvocate1

I had a bank account with Natwest when I was at university. I moved branches when I did my work placement as I was 150 miles from home.

When I returned to do my final year, the local Natwest refused to accept my account back with them. I have no idea why. I didn't go overdrawn and the local branch I wanted to move it to was opposite the university building I was studying at.

At this point I changed to Halifax as this was in the days before internet banking and I often needed to pop in to speak to someone.