Defaulted on a savings account 😱🤯

sourcrates

You cannot overdraw a savings account, its simply impossible to do, as no OD facility is available with such accounts, and you are not charged in any way for using them.

You are also correct in that a default cannot be registered against this debt as it is not a credit account, the clue is in the name, saver account.

OP, in light of what link have sent you, my advice now would be to get the Coop on the phone and try and fathom out what has happened here, as they are the only ones who can shed any light on the matter.

Non of this makes any sense, at all, what you have described should not, in theory, be able to happen, we can surmise about this until the cows come home, but only the Coop can tell you for sure what`s gone on, and why this debt, if there is a debt, has accrued.

ItsComingRome

sourcrates said:

You cannot overdraw a savings account, its simply impossible to do, as no OD facility is available with such accounts, and you are not charged in any way for using them.

You are also correct in that a default cannot be registered against this debt as it is not a credit account, the clue is in the name, saver account.

OP, in light of what link have sent you, my advice now would be to get the Coop on the phone and try and fathom out what has happened here, as they are the only ones who can shed any light on the matter.

Non of this makes any sense, at all, what you have described should not, in theory, be able to happen, we can surmise about this until the cows come home, but only the Coop can tell you for sure what`s gone on, and why this debt, if there is a debt, has accrued.

Yes, you can.  Seen it happen.

You don't need a credit account for it to be defaulted.  Plenty of accounts on credit files are not credit accounts, they're service agreements, they still can and do get defaulted.  A default on a credit file simply means the relationship between the account holder and the company has broken down, which it likely would if there was an outstanding debt on a savings account.

I do agree that the OP needs to find out what actually happened, they're not going to get anywhere until they do.

sourcrates

ItsComingRome said:

sourcrates said:

You cannot overdraw a savings account, its simply impossible to do, as no OD facility is available with such accounts, and you are not charged in any way for using them.

You are also correct in that a default cannot be registered against this debt as it is not a credit account, the clue is in the name, saver account.

OP, in light of what link have sent you, my advice now would be to get the Coop on the phone and try and fathom out what has happened here, as they are the only ones who can shed any light on the matter.

Non of this makes any sense, at all, what you have described should not, in theory, be able to happen, we can surmise about this until the cows come home, but only the Coop can tell you for sure what`s gone on, and why this debt, if there is a debt, has accrued.

Yes, you can.  Seen it happen.

You don't need a credit account for it to be defaulted.  Plenty of accounts on credit files are not credit accounts, they're service agreements, they still can and do get defaulted.  A default on a credit file simply means the relationship between the account holder and the company has broken down, which it likely would if there was an outstanding debt on a savings account.

I do agree that the OP needs to find out what actually happened, they're not going to get anywhere until they do.

Sorry, allow me to clarify, a savings account is neither a credit agreement nor a service agreement.

Debt purchasing companies are all to quick to issue defaults to debts that they buy, seems to be a first response, rather than a last resort with them.

Now in order for this debt to have been accrued, something, somewhere has obviously gone wrong, it is not a normal situation,
so any default issued would have been do so under dubious circumstances.

I have just made a few enquiries on Coop`s Facebook page, via private messaging, spoke to a guy called Chris, explained the situation to him, Chris recommends the OP contacts them on the below number -



"They can speak to our Financial Support team on 0344 844 8899, Mon-Fri 8.00am-6.00pm, Sat 9.00am-5.00pm. They can help look into it further for them. -Chris".

Hopefully OP, Coop will straighten things out for you.

Good luck.

ItsComingRome

sourcrates said:

ItsComingRome said:

sourcrates said:

You cannot overdraw a savings account, its simply impossible to do, as no OD facility is available with such accounts, and you are not charged in any way for using them.

You are also correct in that a default cannot be registered against this debt as it is not a credit account, the clue is in the name, saver account.

OP, in light of what link have sent you, my advice now would be to get the Coop on the phone and try and fathom out what has happened here, as they are the only ones who can shed any light on the matter.

Non of this makes any sense, at all, what you have described should not, in theory, be able to happen, we can surmise about this until the cows come home, but only the Coop can tell you for sure what`s gone on, and why this debt, if there is a debt, has accrued.

Yes, you can.  Seen it happen.

You don't need a credit account for it to be defaulted.  Plenty of accounts on credit files are not credit accounts, they're service agreements, they still can and do get defaulted.  A default on a credit file simply means the relationship between the account holder and the company has broken down, which it likely would if there was an outstanding debt on a savings account.

I do agree that the OP needs to find out what actually happened, they're not going to get anywhere until they do.

Sorry, allow me to clarify, a savings account is neither a credit agreement nor a service agreement.

Debt purchasing companies are all to quick to issue defaults to debts that they buy, seems to be a first response, rather than a last resort with them.

Now in order for this debt to have been accrued, something, somewhere has obviously gone wrong, it is not a normal situation,
so any default issued would have been do so under dubious circumstances.

I have just made a few enquiries on Coop`s Facebook page, via private messaging, spoke to a guy called Chris, explained the situation to him, Chris recommends the OP contacts them on the below number -



"They can speak to our Financial Support team on 0344 844 8899, Mon-Fri 8.00am-6.00pm, Sat 9.00am-5.00pm. They can help look into it further for them. -Chris".

Hopefully OP, Coop will straighten things out for you.

Good luck.

I agree that the reason for the account being in default is unusual.  I don't agree that it shouldn't, as a rule, be reported.  I never said it was a service agreement either, but the point was that it doesn't need to be a credit agreement to be defaulted as CRA defaults are not the same as defaults under the CCA.

The OP needs to ignore the default for now, and focus on the whole of the problem.  Getting the default rectified isn't going to address the alleged £145 shortfall so they're far better served getting to the root of the problem which will hopefully also address the default too.

Leyshon20042000

sourcrates said:

You cannot overdraw a savings account, its simply impossible to do, as no OD facility is available with such accounts, and you are not charged in any way for using them.

You are also correct in that a default cannot be registered against this debt as it is not a credit account, the clue is in the name, saver account.

OP, in light of what link have sent you, my advice now would be to get the Coop on the phone and try and fathom out what has happened here, as they are the only ones who can shed any light on the matter.

Non of this makes any sense, at all, what you have described should not, in theory, be able to happen, we can surmise about this until the cows come home, but only the Coop can tell you for sure what`s gone on, and why this debt, if there is a debt, has accrued.

Thank you for this I spoke to link who said they sent statements in the letter as well. The only statements sent related to another bank that I used as Id at the time . 

I tried speaking to coop who said I’d need to link so now waiting for them to prove their is a debt. 

Basically I want to get the default removed as I want to buy a house in the next 6 months, 

ItsComingRome

Leyshon20042000 said:

sourcrates said:

You cannot overdraw a savings account, its simply impossible to do, as no OD facility is available with such accounts, and you are not charged in any way for using them.

You are also correct in that a default cannot be registered against this debt as it is not a credit account, the clue is in the name, saver account.

OP, in light of what link have sent you, my advice now would be to get the Coop on the phone and try and fathom out what has happened here, as they are the only ones who can shed any light on the matter.

Non of this makes any sense, at all, what you have described should not, in theory, be able to happen, we can surmise about this until the cows come home, but only the Coop can tell you for sure what`s gone on, and why this debt, if there is a debt, has accrued.

Thank you for this I spoke to link who said they sent statements in the letter as well. The only statements sent related to another bank that I used as Id at the time . 

I tried speaking to coop who said I’d need to link so now waiting for them to prove their is a debt. 

Basically I want to get the default removed as I want to buy a house in the next 6 months, 

I don't see why you need to go through Link, the account was closed less than 6 years ago, the information should still be there for anyone to see. 

You could try SAR'ing them if they're "unco-operative"

sourcrates

Leyshon20042000 said:

sourcrates said:

You cannot overdraw a savings account, its simply impossible to do, as no OD facility is available with such accounts, and you are not charged in any way for using them.

You are also correct in that a default cannot be registered against this debt as it is not a credit account, the clue is in the name, saver account.

OP, in light of what link have sent you, my advice now would be to get the Coop on the phone and try and fathom out what has happened here, as they are the only ones who can shed any light on the matter.

Non of this makes any sense, at all, what you have described should not, in theory, be able to happen, we can surmise about this until the cows come home, but only the Coop can tell you for sure what`s gone on, and why this debt, if there is a debt, has accrued.

Thank you for this I spoke to link who said they sent statements in the letter as well. The only statements sent related to another bank that I used as Id at the time . 

I tried speaking to coop who said I’d need to link so now waiting for them to prove their is a debt. 

Basically I want to get the default removed as I want to buy a house in the next 6 months, 

Link won`t be able to prove anything as the events happened before they became involved.

Which is good for you debt wise, but won`t do anything about the default.

You must be persistent with the Coop, they just fobbed you off with that statement, if you want this sorting, you must be proactive here.

DCFC79

Maybe its time for you send a complaint in.

Leyshon20042000

ItsComingRome said:

Leyshon20042000 said:

sourcrates said:

You cannot overdraw a savings account, its simply impossible to do, as no OD facility is available with such accounts, and you are not charged in any way for using them.

You are also correct in that a default cannot be registered against this debt as it is not a credit account, the clue is in the name, saver account.

OP, in light of what link have sent you, my advice now would be to get the Coop on the phone and try and fathom out what has happened here, as they are the only ones who can shed any light on the matter.

Non of this makes any sense, at all, what you have described should not, in theory, be able to happen, we can surmise about this until the cows come home, but only the Coop can tell you for sure what`s gone on, and why this debt, if there is a debt, has accrued.

Thank you for this I spoke to link who said they sent statements in the letter as well. The only statements sent related to another bank that I used as Id at the time . 

I tried speaking to coop who said I’d need to link so now waiting for them to prove their is a debt. 

Basically I want to get the default removed as I want to buy a house in the next 6 months, 

I don't see why you need to go through Link, the account was closed less than 6 years ago, the information should still be there for anyone to see. 

You could try SAR'ing them if they're "unco-operative"

What is a SAR? 

Leyshon20042000

The mystery continues. 

I rang link again on Saturday they are still saying they have sent me the statements…… still nothing received.

so I phoned coop again. There is no record on their system of the account so why are they defaulting me each month. 

Is there a direct letter I can send that states something like debt does not exsist. Remove default?

I wouldn’t actually mind paying it if they send me the evidence that I Owen them money but all they have sent me is proof I opened a savings account with the coop