Natwest Loan

National_Debtline

Hi again


We can't correspond via private messages here, but you are very welcome to contact us via web chat if you want a second opinion on the content of Natwest's letters - see link in our signature.


Dennis
@natdebtline

sourcrates

lkman wrote: »

Thanks dennis. Am i able to email u a copy if the letters i have from natwest so you can confirm that for certain?

From what you have said, it's a pretty much standard "we can't enforce the agreement, but please still pay us" letter.

Keep that letter in a safe place, you may find they will sell the debt on and you will have to go through this all over again.

This could happen a few times, I had an account like this, no agreement, it was passed to 15 DCA's, then sold on twice, I saw off everyone of them, simply by sending a copy of the OC's letter stating they had no agreement.

lkman

If they were to find the agreement in due course and I stopped paying, I assume they could then lodge a ccj against me?

sourcrates

lkman wrote: »

If they were to find the agreement in due course and I stopped paying, I assume they could then lodge a ccj against me?

Hi,


Your overthinking this situation, its understandable I know.


Let me put it this way, I have yet to hear of a case where a creditor has found the original agreement, after saying that they do not hold it, I'm sure it "might" of happened, but its unlikely.
Think how many tens of thousands of documents they must have in storage, do you honestly think they will actively keep looking for this ?


Also, if you read carefully what they have put in there letter, they admit they do not even hold sufficient information on your account, to even produce a reconstituted version, all they need to do is supply the relevant info about your loan, name, address, etc etc, and that would be sufficient to comply with your request, they cant even do that.


If you want to put this to bed for good, then go down the settlement route, offer a really low amount to settle, make sure you inform the DCA that the original creditor does not hold a valid credit agreement, and that you are well aware of the consequences of that.
See what they come back to you with, my guess ?, you may find they will return the account to Natwest, then 6 months down the line, another DCA will come a knocking, that is one typical scenario with cases like this, or, they may cut there losses, and accept your offer, you wont know till you try it.


Or you can save yourself the hassle, and simply send a copy of the Natwest letter to anyone who bothers you again in the future, those are your choices, its up to you how you want to play it.

lkman

Thank you for your response and help throughout. I have today sent this letter to AIC (the DCA):

Dear Sir/Madam,

Without Prejudice
AIC Reference Number: ******** (Natwest Loan **********)

I write with reference to the money which you are claiming on the above account.

I can confirm that I am unable to pay the money which I owe in full.

I have been in a Debt Management Plan since 2009 and a contribution of £62pm is being credited to this account. My circumstances haven't changed and I can only continue to pay this amount.

However, I can raise £500 via a family gift and I want to offer this as an ex-gratia payment in full and final settlement of the account. This offer is made on the clear understanding that, if accepted, neither you nor any associate company will take any action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.

I also request that, if accepted, you make an entry on my credit reference agency files relating to the above account as having been paid and the account closed.

Payment can be made within 14 days of receiving your written agreement of this offer and method of payment.

I have also enclosed correspondence from Natwest via letters from them stating that they are unable to pursue the debt as the loan agreement has been misfiled. I trust that you will also consider my offer based on this information.

I look forward to hearing from you.


Do you think this is suffice??

sourcrates

Its ok, but the important part :


"I have also enclosed correspondence from Natwest via letters from them stating that they are unable to pursue the debt as the loan agreement has been misfiled. I trust that you will also consider my offer based on this information".


should be at the beginning of your letter, as there will be a tendency to maybe not read the end of the letter, as often happens.
If you have not yet sent it, change it to this :


"I have enclosed correspondence from Natwest stating that they are unable to pursue the debt as they do not hold a valid loan agreement, thus rendering this account irredeemably unenforceable. I trust that you will consider my offer based on this information".


and put it at the start of your letter.

lkman

Unfortunately I have sent it, but I have enclosed the natwest letters so even if they do not read the end paragraph they will see the letters.

sourcrates

lkman wrote: »

Unfortunately I have sent it, but I have enclosed the natwest letters so even if they do not read the end paragraph they will see the letters.

Wait and see what they come back to you with.


You can always write again, making the point more forcibly, if necessary.


Good luck with it !!

lkman

Thank you and no doubt I will be in touch in a few weeks. It was sent first class recorded today.

lkman

Hi. So I received a call today from AIC and they said it was unlikely NatWest would accept the £500 I had offered. They stated that they hadn't in fact bought the debt off NatWest (as I thought) and would need to write to NatWest to ask them if they would accept this. I said I don't see any other offer as they cannot provide me with this loan agreement. They said they will call me in a few days to confirm if accepted or not.

The other credit card I have with NatWest I offered 20% of the remaining balance.