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Nationwide unenforceable in court personal loan
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All my accounts in dmp are defaulted. This is good isn't it. They where defaulted 2 years ago as well. So if I stop paying this loan it should be gone in 4 years?? Is that correct0
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Been doing a bit more reading and research on this subject and have read that creditors can now make unenforcable debts enforcable again by simply correcting there mistake they made.
My loan was made unenforceable because of a mistake with the interest on the arreas in statements.
Just wondering how easy it is for this to be reversed as I wouldn't want to stop paying then all of a sudden I have a ccj because they have amended it. Does this ever happen ?0 -
Been doing a bit more reading and research on this subject and have read that creditors can now make unenforcable debts enforcable again by simply correcting there mistake they made.
My loan was made unenforceable because of a mistake with the interest on the arreas in statements.
Just wondering how easy it is for this to be reversed as I wouldn't want to stop paying then all of a sudden I have a ccj because they have amended it. Does this ever happen ?
You will not "all of a sudden" have a CCJ. They have to provide you with the information that they believe is missing then they have to ask you to start paying again. You would and should refuse to pay. Then they have to issue you with a "Letter before action" threatening court. Then you should still refuse to pay. They go to court. You defend yourself. If they do win you've now got 28 days to pay and the CCJ has no effect on you whatsoever.
I would save as much as possible and if they do get a CCJ you can pay it off before it's registered. I wouldn't listen to any of their threats at all.
Finding the missing information can happen but it's very rare.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
Thanks again for your reply, just a couple more questions I'd like answering.
1. I am currently saving as much as possible to offer full and final settlements for all of my debts, what would happen if I get took to court for a ccj over one of them and the judge sees I have been putting money to one side. Will he ask me to use it to pay ccj or would he understand I am hoping to pay all my debts off together fairly and equally?
2. In the event of a charging order from one of my debts I didn't realise you don't have to pay it and can just leave it until you sell the house I thought a monthly payment would still be expected to be paid or interest would mount on it.
Thanks again for any help in advance0 -
Thanks again for your reply, just a couple more questions I'd like answering.
1. I am currently saving as much as possible to offer full and final settlements for all of my debts, what would happen if I get took to court for a ccj over one of them and the judge sees I have been putting money to one side. Will he ask me to use it to pay ccj or would he understand I am hoping to pay all my debts off together fairly and equally?
2. In the event of a charging order from one of my debts I didn't realise you don't have to pay it and can just leave it until you sell the house I thought a monthly payment would still be expected to be paid or interest would mount on it.
Thanks again for any help in advance
Hi,
The judge, won't have the time or inclination to look at your bank accounts, all you do is fill in an income/expenditure form, and the payment would be deduced from that information.
You don't normally go to court, it's all done online, and/or by post.
All a charging order does is guarantee a creditor will be paid from the proceeds of any future sale, it is possible (rare, but possible) that an order for sale could be made, this only happens in very extreme cases, about one in a thousand charging orders has an order for sale granted, and it can be fought at every stage.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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