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Default notice from Nationwide
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AbundantBudget
Posts: 105 Forumite

In December I received a default notice from Nationwide, the due date for action is by the end of this week. I won't be able to repay the whole overdraft of £1000 they cancelled few months ago and requested to repay but I can set up a payment plan to repay it in let say half a year. Does anyone know if I could keep a bank account with Nationwide after I repaid the overdraft debt or will they close the account? Thanks.
# 365 Day Penny Challenge 2021 £111.84/£667.95, # Virtual Sealed Pot 14 £7.56/£200, # Saving for Xmas 2021 £1 a day: £82/£365, # 1 debt vs 100 days £1,240/£1,240, 1 debt vs 100 days £1,000/£1,000,1 debt vs 100 days £0/£3,540,#80 Pay all debt by Xmas 2021: £2,555/£11,295.00
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I suspect the account will be restricted so you cannot use it, it shouldn’t be a problem opening a new basic bank account elsewhere.
Don’t worry about the default notice, it’s a legal requirement that they must send you one, they should agree repayment terms with you.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates wrote: »I suspect the account will be restricted so you cannot use it, it shouldn’t be a problem opening a new basic bank account elsewhere.
Don’t worry about the default notice, it’s a legal requirement that they must send you one, they should agree repayment terms with you.
Thank you for the reply. I wouldn't worry about a bank account as such as I have another one but I opened Help to buy ISA account with Nationwide some while ago. I wanted to use it in the future for home deposit and won't be able to open elsewhere as this kind of accounts are not available anymore. It has a zero balance at the moment and can't be used to cover overdraft but once main bank account is gone I suspect they will close Help to buy account as well or won't they?# 365 Day Penny Challenge 2021 £111.84/£667.95, # Virtual Sealed Pot 14 £7.56/£200, # Saving for Xmas 2021 £1 a day: £82/£365, # 1 debt vs 100 days £1,240/£1,240, 1 debt vs 100 days £1,000/£1,000,1 debt vs 100 days £0/£3,540,#80 Pay all debt by Xmas 2021: £2,555/£11,295.000 -
You will have to ask them to confirm if that’s the case or not.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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