Natwest Loan

lkman

£100pm, but i want to pay it off as a lump, i.e. as a F&F and thus not remain in a DMP.

andrew_bott

Hi,

I am new to this but hoping I can get some advice. Basically I took out a Natwest Loan in April 2007 and had a very similar experience to the person who started this thread. I lost my job and simply couldn't afford to pay initially. It then turned out that Natwest had lost my credit agreement and stated they couldn't enforce the debt in 2009.

At present my Credit File shows a £4621 debt but they have not defaulted me. Instead it shows 6 months late payments for the last 6 years - if that makes sense.

My question is this:

> Will these drop off my file one day or is that defaults only?
> What is the best thing to do to remove the whole account?
> I am getting letters every 6 months from Natwest just providing a statement but no threats, etc as they are unable to.

This is affecting my rating so just want some advice if possible.

Thanks,
Andrew

lkman

By the way, all letters were sent to Natwest (AIC) and any offer was rejected. I also have a credit card with Natwest and I offered £4,500 with a balance of £13,000 and again these were rejected.

Any advice?

sourcrates

lkman wrote: »

By the way, all letters were sent to Natwest (AIC) and any offer was rejected. I also have a credit card with Natwest and I offered £4,500 with a balance of £13,000 and again these were rejected.

Any advice?

Hello again,

If the debts are still with the original creditor, then they are pretty unlikely to accept lesser offers on the debts.

Usually they have to be long since defaulted, and sold on to a debt collector before lower offers get accepted.

The reason is debt collectors pay pennies in the pound for old debts, so can afford to discount.

There is no incentive for an OC to do this.

cmc_entertainment

andrew_bott wrote: »

Hi,

I am new to this but hoping I can get some advice. Basically I took out a Natwest Loan in April 2007 and had a very similar experience to the person who started this thread. I lost my job and simply couldn't afford to pay initially. It then turned out that Natwest had lost my credit agreement and stated they couldn't enforce the debt in 2009.

At present my Credit File shows a £4621 debt but they have not defaulted me. Instead it shows 6 months late payments for the last 6 years - if that makes sense.

My question is this:

> Will these drop off my file one day or is that defaults only?
> What is the best thing to do to remove the whole account?
> I am getting letters every 6 months from Natwest just providing a statement but no threats, etc as they are unable to.

This is affecting my rating so just want some advice if possible.

Thanks,
Andrew

Raise a complaint via https://www.resolver.co.uk

Similar thing happened to me. I complained and got £50 compo, but i will have to raise the complaint again as they have not wiped it from my credit file as agreed

sourcrates

cmc_entertainment wrote: »

Raise a complaint via https://www.resolver.co.uk

Similar thing happened to me. I complained and got £50 compo, but i will have to raise the complaint again as they have not wiped it from my credit file as agreed

This post is from January, and the poster has not been back since unfortunately.

lkman

The natwest loan is via AIC now and the natwest credit card is via wescot. does that make any difference?

andrew_bott

Hi I really need some help.

I am in the same situation as Ikman.

Natwest loan £4620 outstanding, they lost the agreement and I haven't paid anything for years. The only problem is my credit file is continually hit with late payment marks from this account, 6 years worth now!

I want to tidy up my credit file but have to resolve this. Shall I offer a 10% full and final on the basis they remove everything from my credit file?

Please help - any advice would be superb.

Andrew

sourcrates

andrew_bott wrote: »

Hi I really need some help.

I am in the same situation as Ikman.

Natwest loan £4620 outstanding, they lost the agreement and I haven't paid anything for years. The only problem is my credit file is continually hit with late payment marks from this account, 6 years worth now!

I want to tidy up my credit file but have to resolve this. Shall I offer a 10% full and final on the basis they remove everything from my credit file?

Please help - any advice would be superb.

Andrew

Has the account been defaulted ?

Late payment markers should disapeer after six years.

andrew_bott

Hi,

No it hasn't defaulted as it unenforceable. The account is still active and live and they are simply adding a late payment each month. This will seemingly continue forever until this situation is resolved.