My wife's debt

[bertie7600]

Hi all
I was wondering if anyone could offer me some advice please.
My wife, who is a pensioner and only form of income is s state retirement pension. Was given a loan by her bank of over £15,000 a while ago to clear her debts she had built up over a number of years.
At the time of her getting the loan she was in a very fragile mental state due to her debt problems and yes I know she signed for the loan.
I at the time was earning enough to be able to keep up the re-payments on the loan for her. But now due to certain things, jobwise, I am now unable to do this.
I have had to take over all her day to day correspondence etc due to her very fragile mental state.
I have offered the bank in question a reduced monthly re-payment but they have rejected it and passed it over to APEX Credit Management Ltd.
We don't own our own house we live in rented accommodation.
I honestly can't believe the bank would give my wife a loan of over £15,000 knowing that her only form of income was a state retiremnet pension of £45.00 a week
Thanks for listening, I know she shouldn't of taken the loan out to clear all her debts and if I had of known at the time I probably would of stopped her. But by the time I found it it was too late

[Amy]

Re: My wife's debt

I know it's not very nice to deal with, but just remember you cannot be sent to prison for owing money and they cannot take what you do not have, so try not to worry too much.

Keep up your repayments as best you can and if you've made an arrangement for a certain amount, then you should stick to it just in case they do decide to step up the recovery, but we can cross that bridge if and when we come to it.

[bertie7600]

Re: My wife's debt

Thanks for that Amy, I'll let you know if they decide to take things further

[Pinky69]

Re: My wife's debt

You can only pay what you can afford to pay, no matter how big or how small the loan. If you have to reduce payments because of a reduction in income then that is the best you can do. If that is unacceptable to the bank then you have the option of complaining to their Complaints Department that that is the position you have been left in after the bank gave your wife loan of £15000 based on an income of £45 per week. I don't think any court would be too pleased with that and it is definitely irresponsible lending. Nothing for you to worry about.

[Emerald]

Re: My wife's debt

Ask to see a copy of the application form, if they knew she only had £45 per week income then it is irresponsible lending. If her income is still £45 then simply she can't afford to pay, you are under no obligation to pay your wifes debts whatever the sharks tell you.
Has she other debts or just this one?

[enaid]

Re: My wife's debt

Hello, maybe worth a check to see if she was sold any PPI with the loan as that would have been ms sold and you could claim that back.

[madison85]

Re: My wife's debt

do not worry too much. they can only take whatever your wife has. If your wife does not have any properties in her name, all she can pay is £45 per week income, and probably less since she needs some left.

they can not take money from your account since you did not sign it.

[bertie7600]

Re: My wife's debt

Thanks guys, no she doesn't have any other debts and she wasn't sold PPI because she didn't qualify ie. no job etc
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I also asked Apex to send me a true signed copy of the CCA but they replied saying that it was up to me to obtain one from NatWest bank and they returned the £1 postal order

[TomThumb]

Re: My wife's debt

Thanks guys, no she doesn't have any other debts and she wasn't sold PPI because she didn't qualify ie. no job etc
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I also asked Apex to send me a true signed copy of the CCA but they replied saying that it was up to me to obtain one from NatWest bank and they returned the £1 postal order

If the bank knew that she didnt have a job or any other source of income and that you had no assets to recover if things went tits up then the bank has lended money irresponsibly.

Do the bank still own the debt or have they sold it to Apex outright? If its not been sold it might be worth writing a letter to the bank stating that you will pay what you can afford but no more and if they would like to pursue you through the courts you would feel its your duty to both name and shame the bank in the press and with the OFT/lending board to show how reckless they are in lending money out.

S.

[bertie7600]

Re: My wife's debt

Apex told me I had to contact NatWest/RBS Group if I wanted a signed copy of the Credit Agreement.
So I sent a £1 postal order to the above but Apex are still chasing us and they have now been joined by the NatWest/RBS Group chasing the same debt
unbelievable!

[LuggerBugs]

Re: My wife's debt

What absolute nonsense. Even if Apex don't own the debt, it's up to them as agents for the OC to chase up the CCA. Personally, I'd write back to Apex and tell them that they cannot pick and choose what they consider to be their duties in this matter, and that you are ceasing all further contact and will now deal solely with Gnatwets/RBS, and you will ignore all further attempts at communication.

[TomThumb]

Re: My wife's debt

Apex told me I had to contact NatWest/RBS Group if I wanted a signed copy of the Credit Agreement.
So I sent a £1 postal order to the above but Apex are still chasing us and they have now been joined by the NatWest/RBS Group chasing the same debt
unbelievable!

Its unfair under the debt collection guidelines for multiple agencies to be chasing the debt at the same time, it does sound tho like Apex are just chasing the debt on behalf of Natwest. [Might be worth a complaint to the OFT but they'll only mark Natwest/Apex's card so to speak, and wont intervene in individual cases]

If so they have the same duties under the CCA and should have passed on the £1 to Natwest.

Now you just need to ignore the telephone calls and just wait for Natwest to come back with the s78 response.

S.