Nationwide BS PL Unenforceable

mdeaton

Hi guys,

Letter: http://freepdfhosting.com/2b1e7c7254.pdf

I received the attached letter from Nationwide just last week - it says they wrote to me previously explaining the issue but I don't remember getting anything.

The account is in default, along with a few others and have been for some time. We've been paying all defaulted accounts off slowly for the last 3 years.

Can anyone explain what this letter means in laymans terms please? We're never actually going to pay this debt off in our life time so is it worth now stopping paying this one off and spreading its' payment no the other accounts that stand a chance of being paid off?

The default for these accounts are due to fall off my credit file in about 3 years, so i'm wondering as Nationwide themselves are no longer going to enforce this debt repayment if I should take this opportunity to pay other debts off instead, or pay more towards them by stopping paying for this one?

Also, is this a one off? Are my other defaulted accounts in the same situation? Is anyone else affected? I can't seem to find anything online explaining what actually happened.

Thanks

Michael

Arleen

This letter is just informing you that you can add a notice of correction to your credit file, nothing else.

Additionally just because the account will fall off your credit file, doesn't mean it's not enforceable. Quite the opposite, as you keep making payments on it, every single one resets the content on when the account will be statute barred, as it's six years from last acknowledgment of the debt. So if you will stop paying they will likely try to enforce it, and then you can also wind up with a CCJ.

mdeaton

Did you read the letter? They're not going to enforce the debt, which means no CCJ.

Arleen

mdeaton wrote: »

Did you read the letter? They're not going to enforce the debt, which means no CCJ.

Without all the details I wouldn't put much stock in it, as all they want to do is put notice of correction on the account. If you want to try to get out of the loan on the basis of this letter I would suggest getting legal help before doing anything, or at least finding out what is the screw up that they've made.

Clive_Woody

Arleen wrote: »

TSo if you will stop paying they will likely try to enforce it, and then you can also wind up with a CCJ.

In the letter they clearly state that they will not take legal action to recover the debt. Unless they are planning on sending round the 'heavies' to recover the debt I would suggest the OP can stop paying and wait for the default to drop off their credit file.

I would suggest the OP keep this letter very safe in case the bank forget what they wrote or try and sell the debt on to debt collectors for them to chase.

Arleen

Clive_Woody wrote: »

In the letter they clearly state that they will not take legal action to recover the debt. Unless they are planning on sending round the 'heavies' to recover the debt I would suggest the OP can stop paying and wait for the default to drop off their credit file.

I would suggest the OP keep this letter very safe in case the bank forget what they wrote or try and sell the debt on to debt collectors for them to chase.

This letter doesn't release their claim, merely says that they won't pursue it now. Who is to say that in a year they won't change their mind, as they are allowed to do. Hence why OP should either get professional help and secure release in writing, or at least get proof of what did the creditor did wrong that deems the debt unenforceable. Either of those will be enough to successfully defend from any future litigation.

mdeaton

I've just spoken to Nationwide and they confirm this and another personal loan have both been written off.

I've got his name and call centre location + date and time of call and according to them all calls are recorded! Result I guess!

Arleen

mdeaton wrote: »

I've just spoken to Nationwide and they confirm this and another personal loan have both been written off.

I've got his name and call centre location + date and time of call and according to them all calls are recorded! Result I guess!

Get that in writing. While "all calls will be recorded", you will be surprised what happens to those recordings when you ask for a transcript of said call in order to prove that they were wrong (been on that merry go round myself, after which I've started recording calls on my end). As they were written off, sending a letter stating that shouldn't be a problem.

mdeaton

Good advice. Thanks for that I'll ask them for it in writing.

Shakin_Steve

That letter tells me that Nationwide have dropped a b*****k and are keen to bring an end to the matter to stop you putting in a complaint.

phillw

Arleen wrote: »

This letter doesn't release their claim, merely says that they won't pursue it now. Who is to say that in a year they won't change their mind, as they are allowed to do.

If they say they aren't going to sue and you rely on that, then any court is going to take a dim view of any action against you. Forgiving a debt is an end to the matter.