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Hi, I was wondering whether I may have a case for a hardship claim.
I have a claim ongoing with Nat West. In Aug I received a letter saying I could either wait until after the test case or accept £846. It was quite a bit lower than the original claim but I needed the money and couldnt afford to wait until the outcome of the test case, so I signed it and sent it off. But I still haven't received the money.
Meanwhile, I am in a debt mgt plan with Payplan. NW had accepted and frozen the interest, but in August they asked for a review of my finances. So I spoke to Payplan and redid my financial assessment. Payplan said could I increase my payment and that would keep them happy, so I increased it by £10/month.
Around this time I got a phone call from NW saying they would reduce what I owe then to 13k if I pay it all up-front (they are saying I owe then 19k)
I then decided to try for an IVA. My house was valued at 45k less than we bought it for 18 months ago. So we are in -ve equity but waiting for the creditors meeting to see if they will accept my proposal.
Then last month out of the blue I get a letter from their solicitor saying if I dont pay the full 19K they will take legal action. I spoke to NW and they said it had been escalated because they never received the financial assessment from Payplan. I spoke to the legal person on the phone and explained but she said there was nothing they could do and unless I paid the full amount they can do a charging order and repossess my house. Which is interesting seeing as there's no equity in the property, but it's quite alarming all the same.
I never borrowed 19k in the first place, a considerable proportion of this is charges and interest which was front-loaded on loans. Any advice gratefully received. WBA :witch:
I have a claim ongoing with Nat West. In Aug I received a letter saying I could either wait until after the test case or accept £846. It was quite a bit lower than the original claim but I needed the money and couldnt afford to wait until the outcome of the test case, so I signed it and sent it off. But I still haven't received the money.
Meanwhile, I am in a debt mgt plan with Payplan. NW had accepted and frozen the interest, but in August they asked for a review of my finances. So I spoke to Payplan and redid my financial assessment. Payplan said could I increase my payment and that would keep them happy, so I increased it by £10/month.
Around this time I got a phone call from NW saying they would reduce what I owe then to 13k if I pay it all up-front (they are saying I owe then 19k)
I then decided to try for an IVA. My house was valued at 45k less than we bought it for 18 months ago. So we are in -ve equity but waiting for the creditors meeting to see if they will accept my proposal.
Then last month out of the blue I get a letter from their solicitor saying if I dont pay the full 19K they will take legal action. I spoke to NW and they said it had been escalated because they never received the financial assessment from Payplan. I spoke to the legal person on the phone and explained but she said there was nothing they could do and unless I paid the full amount they can do a charging order and repossess my house. Which is interesting seeing as there's no equity in the property, but it's quite alarming all the same.
I never borrowed 19k in the first place, a considerable proportion of this is charges and interest which was front-loaded on loans. Any advice gratefully received. WBA :witch:
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