6 years of late payments

David555

This has got to be a record surely?!

Back in 2006 I opened a basic savings account with nationwide, no debit card, no overdraft etc. Just a cash card to withdraw money from ATMs. Anyway, I used the account for maybe 18 months and stopped using it with a balance of £0. In 2009 I moved address and completley forgot about the account until a few days ago when I checked my credit report and somehow I owe £88. I've no idea how I owe £88 but I'll accept I do and pay it once they show me proof.

Granted I moved address in 2009 and probably forgot to tell them as I forgot about the account. However is there any way to get these 6 whole years of late payment marks removed? Isn't there a law of sorts that the payment has to be marked as defaulted after a few months? I've had no contact what so ever from the bank regarding this, OK the address is old but surely reasonable attempts should of been made to track me down? I'm on the electro role and my credit report lists all my addresses. Maybe the debt occurred while I was at my old address but no letters were sent to inform me. Another thing is on noodle it says "agreed repayments are more than three months behind, but you have agreed new repayments with the lender" I've not agreed any repayments so that's completley false information. How can I pay for a debt that I know nothing about. I suspect this debt goes back further than 6 years but those late payments were knocked off so possibly they've been marking my credit report with late payments for over 8 years. No wonder I haven't been able to get any credit.

Can anyone advise me if there's any grounds for removal if I do owe this money? I'm trying to get it paid but I'm out the country right now. Their social media support can't do much nor having much luck via email I sent £88 for my flatmate to pay the debt off in branch but there's nothing they can do without the account number and sort code which I no longer have after not using the account for over 8 years.

Seems so unfair that they can ruin my credit history like this for so long when I'm not even aware I owe them anything. A settled default would be better than 6 years of late payments

David555

Actually it was my mums address and she continued to live there until 2010 after I moved out and she would of passed on any letters to me so no letters were sent till at least 2010 informing me of a debt outstanding.

Just can't believe they can continue to add late payments non stop every month for something I had no idea about.

redux

Sounds like a phone call to them would be an idea.

Start from apologising for forgetting to tell the change of address, then ask for an explanation of the charges ...

I assume they might ask you to go into the branch with proof of identify and old and new address before discussing it in full detail, so relax about it until you get home.

Arleen

No, they do not have to track you down - it's your duty to keep them with an up to date address, and that is all. They don't have to do anything besides sending letters to that address, because if they had to chase down people and trying to find their addresses, imagine how high would account fees/interest rates had to go up to pay for such service.

But anyway, give them a call, ask for details and beg mercy, as it's unlikely that they are in the wrong here. And if you play ball, you may have the entries removed, or limited to some years ago, or some other way to settle it.

GingerBob_3

OP, have you got to the bottom of why they've screwed you over at the CRAs regarding an £88 charge on a basic savings account? This doesn't seem right. As for updating them with your address - presumably you stopped using the account, so in time it would become dormant - so you thought, and a reasonable thing to think as well. Why update banks with address details concerning accounts you no longer use and are empty? I've probably got loads of old BS accounts that are empty and dormant. No way would I waste time updating the providers with address details.


Also, the data held about you by the CRAs - presumably it links your current address to your old address? If so, why didn't the chumps at Nationwide look up your current address instead of smacking you up with late payments - I wonder?


And another thing - why is a basic savings account being reported to the CRAs anyway? It shouldn't be. The CRAs don't yet have access to asset data.

David555

Thanks for the replies much appreciated

I've called them but they can't really do much until I'm back in the uk and pop in a branch with ID however I've managed to get the account number and sort code so I've sent over £88 into that account which should hopefully stop any further late payments being added to my report. Soon as I'm back home I'll pop to the bank with my ID and hopefully get to the bottom of this, if I did indeed owe the money. Honestly don't know what the charges would of been for as certain the account sat empty unused for at least a year before I moved address and completely forgetting about it. I can only guess it's a error or someone had tried setting up a direct debit (maybe the person who moved into the flat after we moved out) as there wasn't any overdraft nor a debit card. Just a simple cash card that could be used to withdraw money from ATM's.

Yes my addresses are linked on my credit report so hoped they would of wrote to me at my new address (should of told them I know) the joys of being a teenager at the time, young and stupid!

Thanks again for the replies. Once back I'll write them a letter explaining everything, that I moved address etc and beg them to tidy my credit report up somewhat, even if it's a settled default with a date 5 years or so ago so at least it'll drop off soon. With those late payments added every month I can't even get a Aqua card to improve my history at the moment as it looks to them I don't repay. When in fact I'm really good with money (I think!) never had to take out any credit, rent is always paid a day or 2 early. Got nearly 10 grand in savings locked away for future so it's really frustrating at times when the computer basically says no because I'm high risk for a bad credit rating card when I'm soooo not :eek:

PaulW922

Are you certain it was a savings account and not a basic bank account? the latter can have direct debits and standing orders paid for it and some of them (most these days) come with a debit card

David555

PaulW922 wrote: »

Are you certain it was a savings account and not a basic bank account? the latter can have direct debits and standing orders paid for it and some of them (most these days) come with a debit card

I think it must of been a basic bank account after all, managed to find out how the account became to owing £88. It turned out the charges were for attempted direct debits. I thought it was just a basic savings account as it didn't have a debit card to use online/in shops.

I'm pleased to say nationalwide have been wonderful in helping with this even though it's very much my fault. They wrote to me saying 3 letters were sent out in 2011 regarding these charges but sent to my old address and that my credit file had incorrectly been marked over 6 years. They've credited my account with the £88 and given me £200 as compensation and best of all are going to remove all the late payment markers which is fantastic news! A massive weight off my shoulder. Once they're gone I can start building up some credit.

From what I gather there were 3 attempted direct debits from 2011 so pretty sure the new tenants at that old address had something to do with that! I moved in 2009 and mum moved 2010 into a smaller place. Lesson learnt always make sure you update all your addresses when moving and close any unused bank accounts to avoid forgetting about them.

Hats off to nationwide though fantastic customer service! I'll definitely use them again in future, if they allow me after this mess