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Hi all,
Long time reader, first time poster here.
I have had an issue with a student overdraft which has left a default on my credit file without my knowledge.
- Amount £1200 upon graduation
- Because I did not pay my wages (foolishly) into this account, rather another, as per the T&Cs (unknown to me at the time), the post-graduation 2 yr interest free overdraft became void after 12 months.
- I recieved no letters from Natwest advising early repayment is due, rather a solitary letter from Wescot. I called immediately and agreed a repayment programme of the full amount over 12 months, £120 by d/d. (Sept 12)
- I made a payment of £120 as agreed on 14 Sept 12. This appeared on a Natwest statement.
- I made a payment of £120 as agreed on 14 Oct 12. This appeared on a Natwest statement.
- From Nov 12 onwards, statements stopped coming through.
- I continued the repayment arrangement. The debt was not sold to Wescot, it is still owned by Natwest
- Looking up my Credit File, it shows Natwest defaulted the account on 30 Oct 12; even though I made a repayment arrangement with their appointed company and did not break it.
- There is still £400 to pay on the account and Wescot have agreed to hold the account (in writing) while I take up the issue.
I would have cleared the balance immediately if I had all the paperwork, which genuinely wasn't sent. I am shocked given that they agreed a payment programme and defaulted me anyway.
What do you think is the best way to proceed? Obviously the outcome I am aiming for is to settle in full, remove the default and get on with mortgage etc in the very near future.
Long time reader, first time poster here.
I have had an issue with a student overdraft which has left a default on my credit file without my knowledge.
- Amount £1200 upon graduation
- Because I did not pay my wages (foolishly) into this account, rather another, as per the T&Cs (unknown to me at the time), the post-graduation 2 yr interest free overdraft became void after 12 months.
- I recieved no letters from Natwest advising early repayment is due, rather a solitary letter from Wescot. I called immediately and agreed a repayment programme of the full amount over 12 months, £120 by d/d. (Sept 12)
- I made a payment of £120 as agreed on 14 Sept 12. This appeared on a Natwest statement.
- I made a payment of £120 as agreed on 14 Oct 12. This appeared on a Natwest statement.
- From Nov 12 onwards, statements stopped coming through.
- I continued the repayment arrangement. The debt was not sold to Wescot, it is still owned by Natwest
- Looking up my Credit File, it shows Natwest defaulted the account on 30 Oct 12; even though I made a repayment arrangement with their appointed company and did not break it.
- There is still £400 to pay on the account and Wescot have agreed to hold the account (in writing) while I take up the issue.
I would have cleared the balance immediately if I had all the paperwork, which genuinely wasn't sent. I am shocked given that they agreed a payment programme and defaulted me anyway.
What do you think is the best way to proceed? Obviously the outcome I am aiming for is to settle in full, remove the default and get on with mortgage etc in the very near future.
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