Panic!! Or not??

Gailk

Hi
I could really do with some advice please.


I have a dmp with Step change which has been running for a year. I had a credit card with Nationwide, balance about, £9k.
I got a Step change letter asking me to ring Nationwide as they'd told them they no longer managed the debt.


So I did. To be told that now's it's over a year they are taking me to court to obtain a ccj and charging order.
I work in financial services and cannot get a ccj with my job.
There is only about £8k equity in the property and it's jointly owned with my boyfriend.



They've suggested a voluntary charge over the property which I would do but it wouldn't cover the balance.


I'd be really grateful for any help. At Step change they said NW were just trying to scare me and there was too little equity for them to bother with a court action.


Separate issue is that I have major depression and get a lot of medical care, but I still work 2.5 days a week, after a very rough patch last year, hence how I couldn't pay them.



Many thanks

mark55man

Don't panic - at least until someone more knowledgeable comes along. which wont be long

sourcrates

Hi,

Court action is always a possibility, if they go down that route, then there’s nothing, short of paying the debt off, you can do to stop it.

If your job depends on not having CCJ’s on file, maybe a DMP was not a good choice, as legal action is always open to them.

An IVA would maybe of been more suitable as they give you legal protection from your creditors.

Gailk

Hi
Thanks for the quick reply.
I didn't go IVA as again I can't have one for my job.

Just_Di

When (what year) did you open the Nationwide credit card account?

I’m only asking to see if there is any remote chance they may not be able to produce the original credit agreement (or a valid reconstituted one) which could hinder their chances of success if they did attempt to get a CCJ.

It’s a long shot, not raising expectations.

Di

Just_Di

Gailk wrote: »

I got a Step change letter asking me to ring Nationwide as they'd told them they no longer managed the debt.

Can you just clarify whether that letter means Nationwide has assigned ( i.e. sold) the debt to someone else.

Who is writing to you with the threat of legal action?

Di

Gailk

Hi Di

I took the credit card in 2008, any hope?


Step change wrote asking me to get in touch with Nationwide as NW had told them the debt had been assigned but not to whom.
When I rang Nationwide they told me that they were taking me to court to secure a charging order. Nationwide have not written to me.


Am I able to say that I do not want phone calls only letters?



Thanks for any help you can give.
I was plodding along quite fine on my dmp and this has really thrown me.

sourcrates

Gailk wrote: »

Hi Di

I took the credit card in 2008, any hope?


Step change wrote asking me to get in touch with Nationwide as NW had told them the debt had been assigned but not to whom.
When I rang Nationwide they told me that they were taking me to court to secure a charging order. Nationwide have not written to me.


Am I able to say that I do not want phone calls only letters?



Thanks for any help you can give.
I was plodding along quite fine on my dmp and this has really thrown me.

Hmm mixed messages there.


Of course you can opt for contact in writing only, in fact we recommend you do that on this forum.


Wait and see what happens, as part of the civil procedure rules, if Nationwide want to take you to court, they must first issue an LBA (letter before action) this is a process designed to get the creditor and debtor in to an affordable payment plan, without the need to progress to court, from whats been said i get the feeling, that if they go down this route, they may conveniently skip that part of the procedure, and go straight for the claim form.


Of course this is all hypothetical, and its more likely they have sold/assigned the debt to a debt purchaser instead.


See what arrives in the post, and come back to us for further advice.

Gailk

Thank you Sourcrates!

Just_Di

Gailk wrote: »

Hi Di

I took the credit card in 2008, any hope?

. . . . NW had told them the debt had been assigned but not to whom.
When I rang Nationwide they told me that they were taking me to court to secure a charging order. Nationwide have not written to me.

There's always hope

When a debt is assigned the purchaser doesn't automatically have access to all the data/information held by the original creditor. That may depend on the conditions written into the Deed of Assignment.

It appears that your account may be in transition from Nationwide to the assignee. You should get a 'Goodbye' letter from Nationwide and a 'Hello' letter from whomever has bought the debt. The Notice of Assignment is a statutory duty.

These things can take weeks/months since assignments typically include tens of thousands of accounts in a portfolio. If the buyer is 'offshore' and the debts are going via a SPV (for tax reasons) then it can taken even longer.

Perhaps the person on the end of the phone at Nationwide was giving it one last shot at scaring you into paying and/or offering a voluntary charge on your home. I'm glad you didn't succumb to what I often feel is bullying.

Wait until the next communication arrives and then you could consider whether sending a s 77-79 CCA Request to the debt purchaser to see if they can produce the relevant documentation needed for them to take things to the next legal level could be your next step. If they can't comply with your request then the debt will become unenforceable in law unless or until they do comply.

Or if it's not been assigned then you could send a s 77-79 CCA Request to Nationwide.

However, I've looked at a very old thread of yours (2008 ) where you say you remortgaged with the Nationwide, so do you still have a mortgage with them which may (may not) mean that they have a charge on your home? If so is it an "all monies" charge enabling them to potentially secure/cover any other borrowings you have with Nationwide?

As sourcrates has said post on your thread when you hear anything from anyone.

Try to enjoy the rest of your weekend.

Di

Gailk

Hi


Thanks so much Di.
Yes my mortgage is with Nationwide - does that mean they could secure my credit card debt against the house, as I have the mortgage.
Really appreciate the help!