Advice Needed since claim settled=more charges

[HydraUK]

Hehe. Well done.

[telewest]

Hey T4FF

 

A forced closure of a bank account would not affect your credit rating, even if you had an overdraft. The relinquishment of an overdraft would not be deemed adverse, indeed it would show on your file that the OD no longer existed, but as there are so many reasons for relinquishment the data isn't concise enough to distinguish (eg there isn't a "withdrew at customer request" versus "withdrew at bank request" etc) so it wouldn't actually affect your credit rating at all.

 

Sadly was in a position to fully pay off the OD at the MCOL stage, but since then am not - but RBS are decent enough in that respect, and even if they losed the a/c they would offer a payment plan, indeed even if they decided to be spiteful I'd come down on them like a ton of bricks.

 

A lender isn't allowed to list a credit commitment as defaulted unless they are of the sound belief they have no other avenue to get the funds back - they would have to offer an affordable payment plan prior to default.

[isidore]

Well.....I was always under the impression that it can affect your credit rating and I'm sure I read that here somewhere.

 

Opening up a parachute account is advised so that if your account is closed, you will already have a backup account open as it would otherwise be difficult to open one up.

 

If you are right, then I stand correct although this suggests that it may affect your credit rating?

[telewest]

Your credit rating would only be affected if the overdraft facility was rescinded (when the a/c was forcefully closed) and the bank chose to abuse their access to the credit register by defaulting you if you were unable to repay it in full by 30 days *ahem A & L*