How long does a bank remember bad debt?

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.

[Deleted User]

Does it really matter though?

You’ve been refused - surely it’s just time to move on?

eskbanker

Willing2Learn wrote: »

Interestingly, I made an application to RBS for their £150 switch incentive. This time there was a credit search (none for NatWest). The application did not fail on internal checks. This could imply that RBS either has a different policy on data retention, or they have failed to adhere to their own policy.

....or it could just be that NatWest haven't shared with RBS the data about your default. They are different banks, albeit within the same group, and the fact (or at least reasonable supposition) that they share some data (to prevent switchers benefiting from incentives with both banks) doesn't necessarily signify that they share everything. They may also have different scoring algorithms for account applications.

Thrugelmir

eskbanker wrote: »

They are different banks, albeit within the same group, and the fact (or at least reasonable supposition) that they share some data (to prevent switchers benefiting from incentives with both banks) doesn't necessarily signify that they share everything.

Being part of the same group. They will simply share a do not trade with list. No historic data will be maintained. Just enough to identify an individual. Black lists have been around long before credit checks.

[Deleted User]

John_G_Jones wrote: »

I find posts like this just bizarre. The sense of entitlement is so alien to me that it’s hard to know how this poster and me could ever communicate.

It’s like asking how many years after your babysitter assaulted your baby should you expect to hold it against them. If you have failed to honour your obligations with a person, company, or organisation then of course they can choose never to deal,with you again.

How many years after you cheated on your wife would it be before you told her that she was not allowed to remember it? Why on Earth do you imagine you can default on a company and demand that they disregard it?

Are you a politician by any chance? I wonder, because what you've done here, namely pick out just part of the discussion attributable to me, and then come to a conclusion about me based solely on it, is just how politicians operate. Try reading post #63 for a fuller picture and some suggestions which I think are perfectly reasonable.

Willing2Learn

!!! wrote: »

Does it really matter though?

You’ve been refused - surely it’s just time to move on?

I would love to move on - Every time I think I will, I get angered at the thought of having an indefinite ban on being a NatWest customer. It is not like I refused to honour the debt. If I had not paid the money back then I would consider being on a blacklist fair. But I am being treated no differently than someone who did not repay and who just let the debt go SB. Also, I never gave them permission to hold my personal data indefinitely.