Supposed Bad Debt Impacts

_Bruce_ on 17/09/2012 - 11:16

Over 6 months ago I attempted to close an NAB account. After multiple phone calls and multiple trips to the branch, they told me that there was some strange thing in the computer system stopping them from finalising the closing, but that they would ensure it would go through and I had nothing more to do. The balance was $0.

I never received written confirmation of the closing.

I have now received a letter that claims the account now has $9.50 owing (I'm assuming some kind of fees, it doesn't say) and they have now written this off as bad debt and closed the account.

I am happy for them to just go away, but I am worried that this will have a negative impact on my credit rating or ability to get other finances.

MORE than happy never to be able to deal with NAB again though.

Can anyone help me?

Financial

Comments

  • retiredfeline on 17/09/2012 - 11:24

    I wouldn't think they would report you to the bad debt registry over $9.5 owing which in fact was their fault and it's all internal monopoly money anyway. Also they admitted as much in a letter, but who knows.

    • _Bruce_ on 17/09/2012 - 11:29

      I'm betting they don't realise it was their fault and their own fees though. The letter doesn't say what (if any) actions were taken on the 'bad debt'.

      • retiredfeline on 17/09/2012 - 11:32
        +1

        I know you don't want to deal with them anymore but why not call them to ask that question and settle it once and for all. We're just speculating here.

  • c64 on 17/09/2012 - 15:36

    i don't think they affect your credit report for a $9 debt.

  • spal on 17/09/2012 - 18:09

    I believe there is a minimum amount of debt owed for a creditor to be able to record a default on your file. It is most certainly greater than your debt to NAB. Further they need to give notices to you before recording a default on your credit file.

  • Typical16-bitEnjoyer on 17/09/2012 - 18:46

    Standard practice at most companies, when performing a credit check, are that defaults <50-100 bucks are ignored. You'll be fine.

  • _Bruce_ on 18/09/2012 - 20:12

    For the record after around 45 minutes on the phone the final answer was they 'think' it is not a problem. Wasn't very happy with the terminology, but I'm not going to get any better.

    • Commonwealth Pig on 19/09/2012 - 07:07

      Just get a copy of your credit file from the 2 leading credit reporters in Australia. Veda and Dun and Bradstreet both offer a free service that should take less than 2 weeks. If NAB has listed a default on your file then you will need to escalate the issue with them. If not then just forget about it.

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