Please Help me :-(

leehowling

Hello

I had a loan with Nationwide me and my partner took it out in May 2009, All was well untill Sep 2010 when my partner left me and moved in with her new man leaving me to pay £70 a month for the loan and £600 a month for out Mortgage.

I tried to keep up with the payments and managed it for 2 months, first of all i sorted the mortgage out which is now all ok but im still having trouble with the loan, I explained all this to Nationwide and asked if they could divide it into 2 seperate loads one for me and one for her, she was agreeing to this at the time but Nationwide would not do it, and a few months down the line my ex just vanished.

I had no end of letters turning up from debt collectors as well as Nationwide and i was trying to come to a agreement and asking if my partner was recieving any letters as she was the one needing the wake up call, but they said no, and as we have your adress you are going to be the one responsable, even though it was a joint loan.

Finalliy the debt went to Fredrickson International, and they said if I pay half the loan the other half will be discounted, So I payed the £1500 and they sent me a reciept saying I have payed £1500 by Debit card and I have reiceved a !!!!!! discount of £1000 and the Balance on the account is now £0!

I have now recieved a statement from Nationwide saying there is still a ballance of £1002 and they have added £29 interest charge??

Has this Fredrickson International tricked me into paying it? by saying I would get half written off, Something is not right and why should my ex get away with not paying it?


Please help

Lee

Apples2

Yup, sounds like they flanneled you. It is ALWAYS recommended you don't accept any of these type of offers unless it is in writing. The writing must say "In full and final settlement".

With a joint loan, it isn't a case of both owing half, it is a case of both owing the whole amount.

Your ex gets away with it because you are left with it and are an easy target to chase. If you had nothing (went bankrupt), then they would chase her for the loan. A joint loan would not be cleared by only one borrower going BR.

You can ignore it and let them chase your ex, but this will have a detrimental (disastrous) effect on your credit file, hers too but she probably doesn't care about that.

KingElvis

I would just pay it off and forget she / it ever happened.

dancingfairy

Hi - firstly you need to pay the mortgage (and any other priority bills). If this is an unsecured loan it comes further down your list of priorities as they can't take your home off your for failing to pay an unsecured loan.
Secondly you need to carefully check the exact wording of the settlement you agreed to with Fredrickson. They may say they will consider the loan as settled or they may say we will not chase you for the remainder - in which case Nationwide may then chase you for the remainder. If they say the loan will be classed as settled in full and we will not pass on the debt and mark your credit file as satisfied in full then that's entirely different.
You might find it helpful to discover whether Fredrickson are a) acting on behalf of Nationwide b) are actually the name of the inhouse collection team at Nationwide or c) the debt has been sold on as I would assume that this would affect the outcome of your 'dispute'.
I presume you would need to file a complaint with either Nationwide of Fredrickson but I'm not sure who first- depending of course on the wording on the letters you've received and who actually owns the debt and is collecting it? Presumably you could then take it to the Ombudsman and claim you were misled but I'm not sure how successful this would be.
df