Santander loan and now bluestone - some advice

Weefee_3

Ok so I hope someone can advise! I got a loan 4 years ago with Santander for a car, last month I got a letter from Santander terminating the contract and have passed it over to bluestone debt collection. I was late one one payment. It was wierd they terminated the contract as I had a couple of years ago fallen behind by three months but they just let me catch up by paying more the following three months. Anyway, I have been in contact with bluestone and offered them a settlement of £2500 (outstanding is £3400) they declined my settlement so we agreed I'd pay £100 pm. Got a letter stating the £100 pm agreement and that was that! So called today to make the payment and they said it was due on 10th of this month, I said I never knew and they said they sent me a letter but I honestly never got it! So isaid ill pay the 100 today and another 100 next week to catch up and the lady said well if you want to but the payments now in default (right jobs worth)
So I haven't paid anything!it was only 6 days late for gods sake! I rang back about 15 mins later and got a fella with the same attitude like I was a criminal cos I was 6 days late with the payment even tho I never got a letter to say when the first payment was due! I can't be bothered to deal with these idiots! How do I make them just take the settlement? I only got £2500 to pay them, do t know why they won't accept they probably didn't even pay2k for the debt. Does anyone have any advice on what I should do next?

SeanG79

Have Bluestone in fact bought the debt or are they acting on behalf of Santander?

The deal will have been terminated because of the history of being in arrears.

I would have assumed that you were in default on your credit reports long before you broke the payment arrangement of £100.00

Why should they simply accept £2500 when the debt owed is £3400? I don't understand? What is the value of the car?

Weefee_3

Value of the loan was 27,000 so I have paid 24,000. They have purchased the debt from Santander. Why shouldn't they take a settlement? I was told by cab years ago that if a settlement is made is should be lowere than the outstanding amount because you have paid in full

Weefee_3

I should probably add that some of the debt is late payment fees!

bargainbetty

Weefee wrote: »

Value of the loan was 27,000 so I have paid 24,000. They have purchased the debt from Santander. Why shouldn't they take a settlement? I was told by cab years ago that if a settlement is made is should be lowere than the outstanding amount because you have paid in full

Because they don't have to. You can offer, they can decide to accept it or not. You have a contract that they have taken over, and they are entitled to hold you to the terms of it if they so wish.

It would be nice if everyone accepted reduced settlements, but they don't legally have to.

You can write to them making another offer, but I would recommend you include the £100 agreed payment for the month, and state that the next payment will be made on the due date as required. If they see you are attempting payment now, they may be more willing to accept a settlement in a few months time.

DCFC79

2 Spam posts reported.

denibabe

santander as just passed my car loan over to bluestone after missing one payment never even got a letter from santander only found out by phoning them to explain my circumstances and pay what i owe they then said we have passed it to bluestone who have bought the debt, i now have to pay the remaining £5200 to them weekly, my question is now bluestone have bought the debt will it have removed the santander hpi marker off it or will it still show but something else? thanks in advance..

happy_bunny_2

Weefee wrote: »

Ok so I hope someone can advise! I got a loan 4 years ago with Santander for a car, last month I got a letter from Santander terminating the contract and have passed it over to bluestone debt collection. I was late one one payment. It was wierd they terminated the contract as I had a couple of years ago fallen behind by three months but they just let me catch up by paying more the following three months. Anyway, I have been in contact with bluestone and offered them a settlement of £2500 (outstanding is £3400) they declined my settlement so we agreed I'd pay £100 pm. Got a letter stating the £100 pm agreement and that was that! So called today to make the payment and they said it was due on 10th of this month, I said I never knew and they said they sent me a letter but I honestly never got it! So isaid ill pay the 100 today and another 100 next week to catch up and the lady said well if you want to but the payments now in default (right jobs worth)


So I haven't paid anything!it was only 6 days late for gods sake! I rang back about 15 mins later and got a fella with the same attitude like I was a criminal cos I was 6 days late with the payment even tho I never got a letter to say when the first payment was due! I can't be bothered to deal with these idiots! How do I make them just take the settlement? I only got £2500 to pay them, do t know why they won't accept they probably didn't even pay2k for the debt. Does anyone have any advice on what I should do next?

Has this been reported as a default on your credit file? You could send them a CCA request. When on the back foot, more likely to settle for less.

SeanG79

denibabe wrote: »

santander as just passed my car loan over to bluestone after missing one payment never even got a letter from santander only found out by phoning them to explain my circumstances and pay what i owe they then said we have passed it to bluestone who have bought the debt, i now have to pay the remaining £5200 to them weekly, my question is now bluestone have bought the debt will it have removed the santander hpi marker off it or will it still show but something else? thanks in advance..

You can do an hpi check at anytime, but I would expect the security marker to still be registered at hpi until the debt has been settled.