We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Loan settlement offer: Nationwide
Munro_Bagger
Posts: 251 Forumite
in Loans
Hello!
If anyone could give me their thoughts on the following, I'd be very grateful;
I owe Nationwide around on a loan I have with them. I currently have an agreement with CCS to pay this back, together with a couple of other debts from other institutions. I make my payments via CCS each month, but a couple of weeks back, I received a telephone call from Nationwide, offering to settle the loan for 50% the original amount. Although I would have loved to pay it off, I turned the offer down as I just don't have the cash to splash.
Today, I received a letter from Roxburghe Debt Collectors on behalf of Nationwide, offering a final settlement figure, on behalf of their client (Nationwide) of £15, to be paid by end of October. My first thought was "Oh, it's a typo - it should read £1,500, which is approximately half the debt..". However, this has got me thinking!!!
If I divert from the CCS schedule and pay the £15 by post, as stipulated on the letter, do you think this would indeed settle the debt, or would Roxburghe / Nationwide have cause to chase me for the remaining full balance, minus the £15?
Many thanks
If anyone could give me their thoughts on the following, I'd be very grateful;
I owe Nationwide around on a loan I have with them. I currently have an agreement with CCS to pay this back, together with a couple of other debts from other institutions. I make my payments via CCS each month, but a couple of weeks back, I received a telephone call from Nationwide, offering to settle the loan for 50% the original amount. Although I would have loved to pay it off, I turned the offer down as I just don't have the cash to splash.
Today, I received a letter from Roxburghe Debt Collectors on behalf of Nationwide, offering a final settlement figure, on behalf of their client (Nationwide) of £15, to be paid by end of October. My first thought was "Oh, it's a typo - it should read £1,500, which is approximately half the debt..". However, this has got me thinking!!!
If I divert from the CCS schedule and pay the £15 by post, as stipulated on the letter, do you think this would indeed settle the debt, or would Roxburghe / Nationwide have cause to chase me for the remaining full balance, minus the £15?
Many thanks
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards