Very bad situation about a student overdraft maxed out & not touched for 5 years PurpleMorrigan

#1
Hello everyone!



So I'm finally biting the bullet and wanting to sort out my Natwest student overdraft that I've not paid back or looked at for over 5 years. I'll try and keep this as simple as possible. Bear in mind that I know I'm in the wrong and I really wish I hadn't left things like this but because of mental health issues it's taken this long to get round to asking about my predicament.



So I went to university in 2010 and by mid 2012 I decided to leave for good. By this point I had extended my Natwest student overdraft up to the £1500 limit and used it all. From this point on I have not accessed my account (although I tried to online a few years ago they said I would have to get in touch since there was problem with my address - I haven't changed it since I went to uni - I just tried to access it today and it just leads me to a screen that says "sorry we cannot access your account right now please contact customer support"). Now - with health problems and never earning enough to pay back anything anyway I have pushed the thought of tackling this problem out of my mind or forgotten altogether. Now I'm wanting to know - just how bad is my situation and what interest fees/charges am I facing?



I can't find any old paperwork. All I have to try to work out how much I might owe is this on the natwest website "Your overdraft is available at a preferential rate while you hold a Student Account. If at any time you cease to be a Student customer for any reason, then the interest rate you pay on your overdraft will revert to the standard rate which applies to Select customers." What I'm wondering is, is this counted as an arranged overdraft? If they have kept charging me then it would run into an unplanned overdraft and surely I would now be paying those fees instead of planned overdraft fees. I don't know what to do to work out the interest rates/charges on an unplanned overdraft or whether it's counted as unplanned at all. I'm not sure if there will be interest AND charges and whether it's cumulative i.e. charging interest on my interest. I do not know what to do I'm scared to go to a branch and broach them about the subject.



Any advice about what to do, what to expect or how much I might owe would be so welcome. I'm currently struggling to make ends meet as it is so paying back big chunks asap is not really an option.



Thank you to anyone who is able to give any advice, I know this situation is stupid and awkward and I'm worried it'll just keep getting bigger or I'll face legal issues in the future if I don't deal with it asap.



Thank you again!

#3
Have you considered buying a statutory credit report? I think they re £2 on most CRAs and that would hopefully would show if it had defaulted or the amount you on the account. Or just tackle this head on and contact NatWest and offer token payments.

#4
Using Noddle and my addresses from the last 3 years and my TSB debit card which I've had for those three years it says I can't get a credit report because they don't have enough information about my credit history. I've never gotten in debt with my TSB account. I don't have my old natwest card and it's long since expired and my student loan debt isn't associated with any of the addresses I've been at for the past few years so I don't know my score.

#5



Using Noddle and my addresses from the last 3 years and my TSB debit card which I've had for those three years it says I can't get a credit report because they don't have enough information about my credit history. I've never gotten in debt with my TSB account. I don't have my old natwest card and it's long since expired and my student loan debt isn't associated with any of the addresses I've been at for the past few years so I don't know my score.
Originally posted by PurpleMorrigan


Your not after your score but the credit history.

#7
Scary as it is I think you should bite the bullet, ring customer support in Nat west and speak to them. Tell them your circumstances and they should be able to tell you what you owe. Facing up to these things are often a relief and it is pointless guesswork for us to hazard an amount you may owe now. If you cannot afford to pay it back at the moment they will probably ask for income and expenditure information and freeze the interest if they have not already. It will show as defaulted on your credit file but I am guessing it is already defaulted anyway. They may have sold the debt on but at least you can get information as to how much it stands at now.

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