Nationwide court action

Mongo2005

Does anyone have experience of Nationwide and court action. Have £1200 od on flexaccount which is one of the minor elements of our debt, which in total is over £200K:eek: . Most other creditors have accepted offers to pay of about 0.5% per month via Payplan, and all had been quiet with nw for about 4 months when today receive letter from shoosmiths solicitors saying that if we don't pay a lump sum settlement they will initiate court action. Rang them and they weren't interested in instalments. Is this just a threat or are they likely to be serious. If it goes to court what is the likely outcome?. Just starting to get ourselves together, sensible budgeting etc, paying what we can afford so this has knocked us back a bit.
Thanks for any help.

Wonder_Girl

In my experience when they pass it to Shoosmiths they mean business, sorry.:(

If this is the case you will get a Claim form, you MUST fill this in and return it, you will then get a Judgement, there are three types - 1) Judgement in acceptance, means they have accepted your offer! 2) judgement after determination, means they have decided you must pay a higher monthly amount than you offered, however this can be appealed against free of charge within 14 days via a redetermination 3) judgement in default, means you didn't return the Claim form.

Wg x

Mongo2005

Not really what I wanted to hear but thanks anyway - esp re advice on the court.:T

Wonder_Girl

No probs, just sorry i couldn't give you better news

But don't forget that is only my experience doesn't mean it will happen