HELP! Nationwide F/F or Partial settlement?

superfurrymouse

Nationwide have written to my parents to inform them they are taking them to court to have a charging order put against the house for an original debt of circa £13k, although this is somewhat reduced as they have been on a DMP with CCCS for over a year.

Earlier in the year, (feb) Nationwide wrote to my parents to say they would settle the debt for approx £7k. This offer was valid for 7 days.

As the prospect of a charging order is causing my parents a great deal of stress I have offered to settle the debt for £7k which I thankfully am just about in a position to do.

My parents spoke to Nationwide who have confirmed over the telephone that the debt would be settled in full and the debt wouldn't be passed onto anyone else and their credit file would be marked as "partially" settled. They said they wouldn't provide anything in writing until after the payment was made.

Does this sound right? If I'm going to pay the debt off, I want assurance it will not cause my parents any further stress.

Grateful for any help with this, advice from those who have been through similar with Nationwide.

jansueir

Hi. I would put everything in writing to them and say they have a week or two to accept the offer and could they reply in writing.

moneymakestheworldgoround

I'm not an expert but from what I have gleaned from MSE over the years, ALWAYS get everything in writing, especially offers. You want a full and final agreement, they have said it will be a partial settlement. As far as I know, that means they can chase the remaining balance at a later date. There are lots of template letters on here to send them to get them to confirm they will not pursue the remaining balance.

You do need to make offer and receive confirmation in writing to protect yourself and your parents.

sickasachip13

Hi,
You really, really need this in writing. Ring the National Debtline, free impartial advice, if unsure. I did this when I did two settlements and they were great.
SAAC

rizla_king

superfurrymouse wrote: »

They said they wouldn't provide anything in writing until after the payment was made.

Does this sound right?.

Not at all right. Sounds hugely dodgy.

VitaK

superfurrymouse wrote: »

They said they wouldn't provide anything in writing until after the payment was made.

You must get the offer in writting. If they intend to honor the offer then they will have no problems putting it in writting. If not...