NatWest Credit Report Information

WingateBulldog

Hi,

I was wondering if anyone could help with my current situation.

I defaulted on 3 loans and a current account (with overdraft) back in December 2014 and then entered into a DMP and made my first payment in January 2015.

I have recently been onto my credit report and the default date has been reported on all 4 accounts as 31st December 2016. It then says that NatWest closed these accounts straight after the defaults (think they were then passed to Westcot Services which I found strange as I had been lying a reduced amount to NatWest since January 2015). The creditor on all of my credit reports with the different agencies is still saying NatWest as the creditor - there is no reference or duplicate to Westcot. All of them were satisfied and paid from August 2017-August 2018.

I have made a call to NatWest and they have said that the default shows as 12/03/2015 on all there systems for all 3 loans and a current account so they have emailed over to the credit referencing side of the business to discuss as I asked can the dates be changed back to March 2015 and also referenced the ICO statements and regarding the FOS, and they have told me to phone back in 3-5 days. Does anyone know if I am within my right to ask for these dates to be changed to 12/03/2015 as this would mean they drop off in a couple of months rather than December 2022. 

If anyone has information it would be greatly appreciated or similar experiences.

Thanks

[Deleted User]

You're within your rights to ask just about anything. You just need to hope they agree.

WingateBulldog

Thanks. Do you think as they’ve got the date down as 12/03/2015 they will change the date from 31/12/2016 as this isn’t a realistic date of one I first defaulted?

[Deleted User]

There's a good chance they will change it.

MovingForwards

Defaults over 3 years have a lot less of an impact compared to younger than 3.
You can ask them to update all the CRAs to the earlier date.
Are you looking at some major financial purchase over the next year or two, as I assume you're still in your DMP.

WingateBulldog

MovingForwards said:

Defaults over 3 years have a lot less of an impact compared to younger than 3.
You can ask them to update all the CRAs to the earlier date.
Are you looking at some major financial purchase over the next year or two, as I assume you're still in your DMP.

Hi,

Thanks for you’re reply. 

Do you mean a default over 3 years since it went into default? Me and my partner are looking at a mortgage early next year. We have a deposit all ready etc it’s just my credit file holding us back as some companies say 0 defaults in 36 months, and obviously in March all defaults would go off credit file.

No the DMP was fully settled in Aug/Sept 2018. I have been debt free since then. 

MovingForwards

Apologies, I don't always get notifications on my phone!

Yes, 3+ years from the date it went on, makes it negligible, to the right lender.

As you've had credit issues, please don't try and sort a mortgage out directly with a lender, find a good whole of market mortgage broker, who understands adverse credit, as they will place you with the right lender for your circumstances.

It's good your DMP is settled as that needs to be 12+ months settled, for a lot of lenders, sub-prime lenders are open to people still in them.

Have a look on the mortgage board, perhaps post up asking whether mainstream lenders will be open to your circumstances and see what the brokers say. If they say the age of them won't make a difference, there's no need to create extra work and stress for yourself trying to get them moved back.