Natwest Loan

sourcrates

All you need to do is write and tell them, as they have no credit agreement, the debt can't be enforced, so your not paying it, that would be that.
Your really just stringing this out when you can just forget about it.

lkman

I did write to them and AIC then came back saying they have to ask NatWest. As my other debt is with NatWest too, I wanted to settle on that too, but don't want one to hinder the other if you get me. Do you suggest I write directly to Natwest then and miss out AIC, although AIC are the ones getting the small payment each month? What do you suggest I put in my letter to AIC/Natwest?

sourcrates

lkman wrote: »

I did write to them and AIC then came back saying they have to ask NatWest. As my other debt is with NatWest too, I wanted to settle on that too, but don't want one to hinder the other if you get me. Do you suggest I write directly to Natwest then and miss out AIC, although AIC are the ones getting the small payment each month? What do you suggest I put in my letter to AIC/Natwest?

Ok, I know you may feel oblighed to pay something towards this debt, but let's look at the facts here.

(1) They have no credit agreement, and openly admit, they do not hold enough information on you to even mock up a reconstituted copy.

(2) The default has gone from your credit file, so that cannot come back.

(3) There is no down side to this, you hold ALL the aces, a simple letter to the DCA stating the fact Natwest don't hold a valid credit agreement, and to, basically, go away and don't bother me again, will get rid of the DCA, as they will simply pass the account back to Natwest, and then Natwest themselves will get the message, and put your account at the bottom of the pile.

If you ever hear anything else about this debt, you simply send a letter stating the absence of a credit agreement, to whoever writes to you, and that's it.

Even National Debtlines earlier post suggests you should follow this advice, to me it's a no brainer.

lkman

sourcrates, can i provately message you please as i would like to send you the copies of the letters i have sent and received from natwest confirming the above.

lkman

I have had a response from AIC via Natwest stating they would not accept the £500, so I have rewritten a letter stating my final offer is £800 to clear the loan and if this isn't agreeable then to send me a copy of the agreement or an accurate reconstituted agreement based on the original. If they are unable to do this then I will cease payment.

sourcrates

lkman wrote: »

sourcrates, can i provately message you please as i would like to send you the copies of the letters i have sent and received from natwest confirming the above.

Sorry, didn't pick this up, yes, feel free, but to be honest, they have already said they have no agreement, or hold sufficient information on you to reconstitute one.

You don't appear to realise what this means, as you are still offering them money, your just prolonging this, and going round in circles, when there is no need to.

It's like continuing to blow air into a balloon that has burst.

With the greatest respect, there's little point offering the same advice again, if you won't take it !!!

Puddylove

You took the money, you spent the money, repay the money.

The reason why the rest of us pay higher insurance, higher percentage rates on loans etc. is because society ends up having to pay for amoral drivers, borrowers.

I'd be so ashamed if I took money that wasn't mine - in my eyes that's stealing.

P x

sourcrates

Puddylove wrote: »

You took the money, you spent the money, repay the money.

The reason why the rest of us pay higher insurance, higher percentage rates on loans etc. is because society ends up having to pay for amoral drivers, borrowers.

I'd be so ashamed if I took money that wasn't mine - in my eyes that's stealing.

P x

Shame the creditor didn't also show such due diligence.

Your comments do not help the OP one bit !!!

Puddylove

sourcrates wrote: »

Shame the creditor didn't also show such due diligence.

Your comments do not help the OP one bit !!!

Imagine I went to the pub with you, or the OP and you'd forgotten your wallet, and I loaned you £10.

The next day, when I say 'Can I have my £10 back?' would you say 'Haha can't prove it!'.

If the OP knows he borrowed the money, then he has a moral duty to repay it if he can. It's the honourable thing to do.

I have every sympathy for those who become ill or are genuinely unable to pay, but to try to avoid your debts seems dishonest to me.

P x

sourcrates

Puddylove wrote: »

Imagine I went to the pub with you, or the OP and you'd forgotten your wallet, and I loaned you £10.

The next day, when I say 'Can I have my £10 back?' would you say 'Haha can't prove it!'.

If the OP knows he borrowed the money, then he has a moral duty to repay it if he can. It's the honourable thing to do.

I have every sympathy for those who become ill or are genuinely unable to pay, but to try to avoid your debts seems dishonest to me.

P x

Sorry, non of that is relevant.

It's a simple point of law, no credit agreement, no case to answer.

Creditor takes OP to court, judge asks creditor :

"where is your evidence this account existed ?"

Creditor :
"Sorry m lud, we don't hold a valid credit agreement",
"judge" case dismissed.

Where legal issues are concerned, morality, does not enter into it, it's up to the OP what actions he takes, I'm simply pointing out the legal position, nothing more.