Worried about nationwide & charging orders

Madhatter67

I owe around £10k in total to nationwide made up of overdraft, credit card & loan. They recently offered me a reduced settlement on credit card which I have not got the money to settle and would be unfair on other creditors. I am worried after reading threads on here they are gearing up to get a charging order as it would appear it looks likes its normal practice for them reading other posts. I have been in a DMP with pay plan for almost 2 years now. Payplan told me to just file the letter & ignore it. I am getting myself all worked up about it. My property is joint owned & we have adult daughter with learning disabilities plus 8 year old with autism. Up to now nationwide have been OK as have my other creditors but worrying myself sick they are getting antsy. Anyone had recent experience of them?

National_Debtline

Hi Madhatter and welcome to MSE,


It does seem that you have got yourself in a panic over nothing. It is quite common that creditors send these settlement letters from time to time, it doesn't matter that you can't meet their offer and it is ok that you carry on dealing with the debts through your DMP.


DMP's are not legally binding but it would be rare for a creditor to take county court action whilst the DMP is running smoothly. In a worse case scenario, if they do get a CCJ and Charging Order, that doesn't mean you will lose your home, it just secures the debt. Orders for sale are very rare compared to charging orders.


Laura
@natdebtline