Old Overdraft

hd216

Hi all,

Just wanting to get a confirmation on something:

Whilst tidying the OH's finances, its come to light she still has an old defaulted overdraft from Natwest that has been bought by Capquest that she forgot she was paying. The details on the most recent statement we've found suggests that the original account had first movement in August 2002 and the agreement is listed as "terminated " on 6th March 2007.

The current outstanding balance is £1350 which she is paying off at a rate of £10 per month.

If my understanding is correct then the account would already have been marked as defaulted by the original creditor back in 2007 and presumably would have been sold to Capquest some time after this.

If she was to write to them and suggest a settlement figure (and of course the big IF is that this is accepted...) would there be any repercussions on her credit file; currently nothing shows regarding this previous debt as the 6 years have passed but my main concern is that it would be reported as partially settled somehow?

National_Debtline

Hi

You’re right that the default should have been added to your partner’s credit file around the time her relationship with the creditor broke down, which sounds like 2007.

The account shouldn’t be added back onto her file now that it has dropped off, even if she partially settles.

James
@natdebtline