Want to pay off my Nationwide loans WHO TO?

zeeman123

Hi I have 2 loans from nationwide the balance on both of them is at about £4900. I got to a point where I could not afford the full payments so I got my payments reduced by nationwide for a about 1 year without them freezing my interest, after 1 year K.P.R took aver my debt and I now pay them £40 for each loan a month this has been going on for about 1 year also.

I have now been given the chance off a relative to pay both these loans off, but I was unsure about a couple of things the first being this relative doesn't have a lot of money and would rather my debts be reduced if this is possible? to maybe £7000 to pay both off? Also Im not sure who I am ment to be writing to to pay these loans off do I go straight to nationwide Or is it a K.P.R debt now?

I hope someone can help me thanks

Tixy

I think KPR are in house debt collection of nationwide? Do they have the same address?

Its always possible to offer a reduced sum in full & final settlement of the debt, whether they will agree to accept a reduced amount would be up to the creditor.
If you are hoping to make such an offer then there is a useful free factsheet on national debtline website and a template letter.

I would adapt the template to say that the money if being offered by a relative only on the condition that it pays off the debts in full.

zeeman123

on there letters its a different address but when it got passed to K.P.R they said it was going to there different department. So you think I should write directly to nationwide is what I really need to know or is it in the hands of K.P.R now so I just write to them? Or should I just ring them up?

fatbelly

You should write, and you can write to KPR. They're Nationwide's in-house collector.

Start lower than you want to finish (hope that makes sense)

With a ten-year plan, they should be open to an offer so maybe start with a 40% offer and see how they react.

Factsheet | Full & Final Settlement offers