Natwest debt years old

trishholl

Hi I have a debt with NatWest which stands at £758

This is from a overdraft (£400) they accidentally gave me when I was 17, being that 17 year old I spent it and didn't worry to much, forgetting about the overdraft a couple of years later I was sent a bill for over £800, the overdraft and charges. Then around two years ago I received a letter saying they have taken all the charges off and halved the amount. Burying my head I left it now I am looking to buy a house I got a credit report saying that I have an open account with natwest that stands at 758 I am now 25 so this has been over a span of 8 years. I don't know what to do to be honest I have another debt which I am in talks with and will be paying back but I don't know how to approach this debt as initially it was a mistake on there behalf but I did bury me head!!

Any suggestions would be really appreciated.

sourcrates

If you were 17, then the debt will be unenforcable, as no one under 18 years of age can apply for credit, unless you have a guarantor.

Also, if you have not paid or acknowledged this debt in writing for a period exceeding 6 years, then the debt may be statute barred.

So food for thought there for you.

happy_bunny_2

Is the account defaulted on your credit report? What's the date? Falls off after 6 years from default date.

If you were 17, complain in writing, to the account owner stating this. If they refuse,take to FOS. May take a few months though.

trishholl

Yes, it say's default on my report and the date it defaulted was 03/2010 at £884 but has been updated 01/15 at £747. I have not been in contact with them at all as far as I can remember and I am sure that they were not on my report a year or so ago. How should I approach this? I really need to sort my credit rating out overall I owe just over 3000 but I cant even take out a mobile phone contract. I know others with much Higher debt who do not have that problem.

happy_bunny_2

Ok, complain, as advised in earlier posts.

That's not the only reason you can't get a phone contract. I have More recent defaults and have a contract taken out with O2.

You checked all 3 credit reports?

sourcrates

trishholl wrote: »

Yes, it say's default on my report and the date it defaulted was 03/2010 at £884 but has been updated 01/15 at £747. I have not been in contact with them at all as far as I can remember and I am sure that they were not on my report a year or so ago. How should I approach this? I really need to sort my credit rating out overall I owe just over 3000 but I cant even take out a mobile phone contract. I know others with much Higher debt who do not have that problem.

Write to the bank, explain you were 17 when they "accidently" gave you an OD.
How is this possible by the way ?

It's that simple, you were under age, they screwed up, they can't enforce the debt and it should be written off, and your credit file amended.

January2015

Years ago Lloyds 'accidentally' gave my (then) 16 year old son an overdraft of £500. It goes without saying he spent it - said he didn't realise how much he had spent and hadn't realised it wasn't his money.

Some stroppy contact from the bank (letters, phone calls and a knock at the front door from bank staff) - a vist from DH to the bank put them straight and the account was closed with no requirement from my son to make repayment at all.

trishholl

Thanks for the answers, How should I approach the complaint?

sourcrates

trishholl wrote: »

Thanks for the answers, How should I approach the complaint?

Dear Natwest,

Ref number : xxxxxxxxxxx

When I was 17 years old, you added an over draught facility to my account.
As a child or young person, you cannot normally be taken to court for debt. This is because you cannot be legally held to a contract you make when you are under 18.
The debt now stands at approx £750, and I belive it is unenforcable because I was under age.
I would ask you to write off this debt, and clear my credit file.
I look forward to your response.

Signed

Trisholl

trishholl

Thank you sourcrates,

Waiting for a response, I got a very apologetic email and told the matter is being delt with. sounds good!

antrobus

sourcrates wrote: »

If you were 17, then the debt will be unenforcable, as no one under 18 years of age can apply for credit, unless you have a guarantor.....

On a point of order.

There is no bar on minors applying for credit. If they are granted credit, then the debt may well be unenforceable, unless it can be shown that the loan was in respect of 'necessaries'.

It is also perfectly possible to ratify a contract made as a minor, when reaching the age of majority, thereby making it enforceable.

This only applies in England and Wales. It is different in Scotland, where I believe the age of majority is 16.