Nationwide want loan repayed immidiately!

trugmaker

Hi, first time here, don't know if anyone can help, it is urgent. My daughter Stevie has a loan with £500 left to pay which would be completed mid January. Out of the blue Nationwide have demanded the full monies within 14 days. Their excuse for the demand is because last June she was less than one day late in making her payment (she was on holiday). Which of course is complete rubbish. As Stevie has just changed her job and has to wait a month before payday, and has recently got married, she cannot possibly afford to repay. I cannot help anymore as I will be helping her through the lean month. There must be a way to get Nationwide to adhere to the original agreement???? Is't there?

dmg24

There is often a clause in loan agreements that the amount must be repaid in full if the borrower does not stick to their side of the agreement, so it is not complete rubbish.

Has she called to speak to them about this?

trugmaker

With respect, you know as well as I, that this is a ploy to recoup money whatever the arrangement, why did they not make the request in June? No not had a chance, never read the letter till Friday after work. But she is worried sick.

terryw

I fear that there is some misunderstanding here. A payment a day or so late months ago would not set off a request for immediate payment of the full amount on a credit agreement.
There are probably other circumstances of which you are unaware. Please post the letter for better advice (obviously not including names etc)

never-in-doubt

Duplicated thread!

Nationwide want loan repayed immediately!

robertjonesuk

you mentioned she used to work for nationwide. if the loan she's got is a staff loan then nationwide can demand immediate repayment of the loan.

if it's not a staff loan then i agree with the last post

jonesMUFCforever

trugmaker wrote: »

With respect, you know as well as I, that this is a ploy to recoup money whatever the arrangement, why did they not make the request in June? No not had a chance, never read the letter till Friday after work. But she is worried sick.

With respect there must be more to this story that what you are telling. There must be more arrears/late payments somewhere along the line.

webmasterpolo

If your daughter used to work for them, and now does not, and this was a staff loan, then perhaps this is why they are cancelling it.

If this was not a staff loan then I agree with previous posts that it's probably due to problems with payments on this loan account, or perhaps another account like an OD or CC.

-Web