Nationwide Loans

[Warpa]

Re: Nationwide Loans

[MENTION=551]pt2537[/MENTION] if you have 5 mins could you cast your experienced eyes over this please

[Warpa]

Re: Nationwide Loans

Hi, Ive had a reply from Nationwide and need help drafting up a letter ASAP in reply. Should i ask them to explain what the original Notice of Correction was for and if the loan is enforceable? Maybe i should have sent the SAR as previously advised.

[warwick65]

Re: Nationwide Loans

Did you ever send a S77 request to Nationwide ?

If not, might be worth doing now

[Warpa]

Re: Nationwide Loans

I don't believe I've ever sent anything to them. What does the S77 ask for?

[Amethyst]

Re: Nationwide Loans

Copy of the credit agreement - see CCA Request Letter

[Warpa]

Re: Nationwide Loans

I have the original credit agreement.

[Amethyst]

Re: Nationwide Loans

Just had a read back of the thread, we still don't know what the Notice of Correction letter was all about. Have you actually spoken with them about this at all to find out what is going on?
I'd get a Subject Access Request off to Nationwide as well Subject Access Request Letter to get more details, but as you are still paying ?? ( though in arrears) and the account hasn't defaulted, ( even though you think it did default in 2014 when it was passed to KPR? ) I think I'd speak to them. How much have they said the debt is now? Does it actually state it on that letter at all ? or the amount in arrears at all ? It sounds like a precursor to defaulting you (again?) but contains very little information. They do mention arrears in it but no figures.

The section 77 request is more a compliance thing than actually getting hold of a copy of the agreement ( if they don't comply with the request the debt is unenforceable until they do find it ) so that you already have the original copy is irrelevant ( for that purpose - useful to check over the terms etc )

When was the loan actually taken out? 2010 ?

[Warpa]

Re: Nationwide Loans

I've not paid anything in a few years, I have statements of defaults from 11 March 2014 to 24 April 2014 along with Notice of Sums in Arrears.

[Amethyst]

Re: Nationwide Loans

This latest letter says you are in arrears so maybe you are back just in arrears, and the correction was to remove the default ( maybe it wouldn't have been defaulted if the interest for their period of non compliance in the sums in arrears was removed ?) Have you removed the amounts or anything off that letter or is it on a separate page?

Has your credit file changed back from a D to late payment markers?

[Warpa]

Re: Nationwide Loans

I've just checked Clearscore and it remains under closed account with a balance of 7600 which originally was 8370.
I've changed the figures marginally to offset searches.

[Amethyst]

Re: Nationwide Loans

Hmmm. Is it marked as Defaulted ?

Certainly sounds like they took a lump sum off as you haven't been paying - did they not inform you of any amounts when they were talking about the correction notice?

[Warpa]

Re: Nationwide Loans

No, they just said as they had not heard from me they won't change anything on my credit score. I have letters from a long while back saying they have been writing to me but I have no record of it.
Maybe in this case it may be wise to make contact and make payments.
It used to be around £400 PM but my x partner used to pay that and no way could I afford that kind of repayment.

Original loan was £20k total repayment £25k so take the interest off and I'm not far behind having paid it off

[warwick65]

Re: Nationwide Loans

Warpa

i would really get that CCA (S77) request off to Nationwide.

These questions might have been asked but my memory makes a goldfish's look good

When was the loan taken out?
I assume it was a regulated agreement - it will say so on the original

If you have the original agreement you might be able to tell if it is enforceable although as discussed elsewhere there are many different reasons why a debt can not be enforced

[Warpa]

Re: Nationwide Loans

Warwick I got your pm thanks.
The loan was taken out in 2010. A fixed sum loan agreement regulated by the consumer credit act 1974.
I've just found an interesting letter from 2010 that is marked payment protection insurance at the bottom. I'll scan that and the terms and conditions.

[Warpa]

Re: Nationwide Loans

This is about all i have, i dont seem to be able to find any statements from when the loan was being paid. Im not sure if PPI has any bearing on this?