Author Topic: Advice on bank charges / Default  (Read 1469 times)

mikeyb

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Advice on bank charges / Default
« on: Sep 16, 2010, 06:09:12 PM »
Hi,

I was with the Nationwide and I stopped using the account - its was at £1 or osomething but a DD tried to come out and bounced with over the months added up. I was using my new A and L account so I didnt notice. When I did it was sitting at a couple of hundred pound so I was going to pay it the next month due to pay. When I phoned up I was told I wass defaulted and that is that.

When I look at the credit report I was defaulted on the fourth month of the 1st charge which seems really quick.

I have been told if I can get the charges lifted the default will be taken off .

Can someone advise if this would be the case and what the possibility of this would be ? do any companies help with this ?

Id even pay what I need to pay to get it lifted. I am not in financial hardship but it is having a direct impact in me getting credit.

Can someone help please ??

Thanks,
 
M

Steven Jackson

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Re: Advice on bank charges / Default
« Reply #1 on: Sep 17, 2010, 01:09:55 PM »
Hello Jemmyfoster
 
The best thing that you can do is ist pay off the outstanding balance with the Nationwide so the account is fully settled. You should then try to call them again, explain the situation and see if they will remove the default for you. Unfortunately they are not obliged to do this as the bottom line is that the default was your fault.
 
If you do not get any joy from Nationwide, I suggest that you get a copy of your credt file from both major credit reference agencies (Experian and Equifax) tand identify exactly where the default is. Then write to them asking for a notice of correction to be added to your file explaining why the default was a mistake.
 
Then if you apply for credit, anyone looking at your file will see the explanation of the default and hopefully overlook it.
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James Falla

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Re: Advice on bank charges / Default
« Reply #2 on: Dec 01, 2010, 12:16:56 PM »
Hi MikeyB
 
You certainly do not need a lawyer to sort this out for you. I think the advice given by Steve is absolutely correct. You should speak to Nationwide, explain the mistake and pay off the balance that you owe. Then ask them to take off the default. If they will not, you can ask for a note of correction to be added to your credit file (which you write) explaining how the default happened and why other potential lenders should ignor it.
 
Let us know if you need any further advice :)
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