How long does a bank remember bad debt?

danthemoneysavingman

I can only agree with Earthboy's 2nd paragraph, having read the thread.

Suggest you just move on!

EarthBoy

Willing2Learn wrote: »

I definitely will not be going to court as that would be way too much effort.

But I thought you were looking forward to it:

Willing2Learn wrote: »

My interpretation is lawful and is something that I intend to prove to NatWest. Besides, I enjoy the challenge

Willing2Learn

EarthBoy wrote: »

But I thought you were looking forward to it:

Oh...but I do enjoy it...but as stated in an earlier post I made...I only feel I have a 40% chance of having my complaint upheld....Unless I can gather the evidence, I would not consider court...Anyway, I believe this can be satisfactorily resolved using the complaint procedure

EarthBoy

Willing2Learn wrote: »

Oh...but I do enjoy it...but as stated in an earlier post I made...I only feel I have a 40% chance of having my complaint upheld....Unless I can gather the evidence, I would not consider court...Anyway, I believe this can be satisfactorily resolved using the complaint procedure

You're contradicting yourself. It sounds like you expect your complaint to be resolved to the bank's satisfaction, not yours, if you think you've only got a 40% chance of success.

bazzyb

Willing2Learn wrote: »

• I am an adult and accept full responsibility for my actions.

In which case, move on and take your business elsewhere rather than try to force somebody to accept you as a customer when they clearly don't want to.

Willing2Learn

bazzyb wrote: »

In which case, move on and take your business elsewhere rather than try to force somebody to accept you as a customer when they clearly don't want to.

I am not interested in becoming a customer any more. I just want to make sure that NatWest are sticking to their own policies and any applicable guidance, regulations and legislation, when considering an application for a current account. I want to make sure that their decision to reject my application is both compliant and fair.

EarthBoy

Willing2Learn wrote: »

I want to make sure that their decision to reject my application is both compliant and fair.

They haven't given you a reason for rejecting your application, and they have no obligation to do so. You're only guessing the reason why. In view of this how can you ever be satisfied that their decision to reject you is "compliant and fair"?

Willing2Learn

Source: Schedule A, Para C - NatWest Privacy Policy

c) It is in our interest as a business to manage our risk and to determine what products and services we can offer
and the terms of those products and services. It is also in our interest to protect our business by preventing financial
crime. This may include processing your information to:
(i) carry out financial, credit and insurance risk assessments;
(ii) manage and take decisions about your accounts;
(iii) carry out checks (in addition to statutory requirements) on customers and potential customers, business
partners and associated persons, including performing adverse media checks, screening against external
databases and sanctions lists and establishing connections to politically exposed persons;
(iv) share data with credit reference, fraud prevention agencies and law enforcement agencies;
(v) trace debtors and recovering outstanding debt;
(vi) for risk reporting and risk management.
Application decisions may be taken based on solely automated checks of information from credit reference agencies
and internal RBS records.

My application was declined without regard of a credit reference agency check.

EarthBoy

Willing2Learn wrote: »

Source: Schedule A, Para C - NatWest Privacy Policy

My application was declined without regard of a credit reference agency check.

So what?

c) It is in our interest as a business to manage our risk and to determine what products and services we can offer and the terms of those products and services. It is also in our interest to protect our business by preventing financial
crime. This may(but doesn't have to) include processing your information to:
(i) carry out financial, credit and insurance risk assessments;

Application decisions may (but will not necessarily) be taken based on solely automated checks of information from credit reference agencies and internal RBS records.

They don't say they will carry out a credit check on everybody, they just give some of the checks that they may carry out.

It doesn't matter how far you pursue your complaint, you're not going to get an explanation from them as to why they declined your application because they don't have to give you one.

John_G_Jones

Willing2Learn wrote: »

I am an adult and accept full responsibility for my actions..

You have my sympathies for what happened, and I think that a sympathetic company should consider taking them into account, but no, demanding that a default not be remembered forever is not taking responsibility.

Also, are you demanding that it is only in extreme circumstances like yours, or are you calling for a limit on how long everyone can remember?

Again, I fundamentally disagree with the assertion that you can force a company to take you on as a customer.

It is as ridiculous as claiming that a customer be forced to shop at a supermarket that they don’t want to.