Nationwide f and f

atomic7431

Hi peeps :T

I have 3 debts with nationwide and have called them today for full and final settlements and they have offered me these figures. I would just be glad of some advice as to what people think do I accept or push for lower.

12836 = 7702 to settle
5926 = 3057 to settle
4627 = 2776 to settle

They have all defaulted and I haven't made payments for a while

Many thanks in advance

sourcrates

Do you have the thirteen and a half grand available to settle ?

If you waited till the accounts were sold on its possible you could achieve up to 50% discount (dependant on which company bought the debts) but what there offering you now dosent seem too bad.

In the end it's up to you, try and negotiate a better deal, wait a while longer, or pay up now and have down with it.

Whatever you decide to do, make sure you get any deal confirmed in writing, and that the remaining balance will not be chased by them or there agents, before you part with a penny.

atomic7431

I've sold my house to be able to pay off the debts so in a few days I will have the funds and they have offered to send the literature out to me including saying they won't chase for any more

Thanks

Muttipops

Cross post with yours above, atomic.


Not far short of 10k off a 23k debt,not bad at all, but like sourcrates says, do you have the cash and would this be a big relief for you and worth settling now or do you want to hold out for more?


Do you have any other debts outstanding that you would also have to consider?

fatbelly

atomic7431 wrote: »

12836 = 7702 to settle 60%
5926 = 3057 to settle 51%
4627 = 2776 to settle 60%

Any reason given why (2) is lower than (1) & (3)?

I think they'll move a bit

You don't seem to have anything in writing yet but it sound like they will confirm this.

You could try 50% across all 3 using the National debtline letter, unless you are happy with the deal as it stands

atomic7431

I have baclaycard at 8027 and they offered me 2900 for that one for f and f by they aren't being very helpful on the phone and I owe them less than nationwide.

No reason given why one of them was less than the others

I shall have the funds in the next 2 days as house is due to complete

Nationwide have said if I confirm I'm happy with the figures they will send the paperwork out but I don't know if I can barter on the phone with them for less or not???

Many thanks to all

fatbelly

You can barter by phone, for sure. or by letter

The recommended route is: you offer by letter, they respond with a counter-offer, you get on the phone to reach a deal as long as the 2 offers are not that far apart.

As I said before, I think they'll move a bit. The (2) figure seems a bit odd and I wonder if someone got their sums wrong.

atomic7431

They were very easy to talk to on the phone and said that the offers are valid for 2 weeks

The loans haven't been defaulted all that long and they have put me on zero plans for 12 months so I have a bit of time to play with but as I've moved back into council housing now I need to get the debts paid as they don't like you to have cash in the bank as they have awarded me housing and council tax benefit based on my current income

Thanks