Nationwide overdraft kumarana

#1
Nationwide reduced my overdraft from 3000 to 1500 and asked me to pay it asap.I agreed to pay every month 150 pounds ,and doing so since Jan 2013.Recently i checked my credit report and to my surprise i found that Arrangement of pay on nov and dec 2013.Had a chat with collection deapartment and they was told since october a new policy has been introduced all AP will be reported.



I was not informed about this change is their any way i can remove

AP from my credit report.This bad mark is stopping me from getting a mortgage



Any Help

#2
Did you or did you not make an arrangement to pay money back?



Does your agreement with them allow them to report information to CRAs?



Is the information reported accurate?

#4
If you had been paying £150 every month since January 2013 that would make the £150 of October the last payment to take you down to the £1500 mark. Maybe because it's gone over this period is why they've put an AP marker on your credit file?

#7
Overdrafts are a product designed to help people out for a short length of time and they can be recalled at any point with the expectation that you pay it back immediately.



So when they asked for their 1500 back and you didn't pay it straight away, they have had to come to an arrangement with you.



Imagine you took a payday loan and, as we have seen time and time again, couldn't pay it back. You would fully expect an AP or default. This is the same.

#9
It is frustrating but I think you will have little chance in getting the AP removed. You could always try writing to ask them to reconsider removing it, but if they refuse you may just need to accept it and be pleased it wasn't for the whole 9months but only for 2/3 months (which they would have been entitled to show).



If they won't agree to remove it then it doesn't necessarily mean you won't be able to get a mortgage, have you tried speaking to an independant mortgage broker. It may be that they are still able to find a mortgage lender if this is the only negative item on your file and if the rest of your finances are in good position and not too stretched.

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