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socleirigh

Default Notice 7 days or 14 days

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Hi,

 

This is my first time posting. i received a DN from Nationwide. Is it 7 days notice or 14 days notice that the DN should give? The loan was taken out in December 2006 if that makes any difference.

 

Any information would be appreciated.

 

Thanks

socleirigh


Regards

socleirigh

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Hello and Welcome, socleirigh.

 

Section 87(1) of the 1974 Act allows the creditor to send you a default notice giving you fourteen days from the date you receive it to pay the arrears.

 

I'll move this thread to the appropriate Forum.

 

Regards.

 

Scott.


 
 

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Thanks for such a quick reply maroondevo52.

 

I had thought that the 1974 Act was seven days, but the 2006 Act gives 14 days.

 

If it is the case that they must give 14 days, then I think they may have made a mistake as they have given 14 days from the date then sent it. They didn't allow time for postage.

 

It was sent on Friday 13th November 09, with asking for the full balance to be paid by Friday 27th November.

 

I received it on 14th November 09, which only gave me 13 clear days to remedy the alleged default.

 

Also the fact that they have asked for the full balance and not the arrears, does this mean they have actually terminated the agreement illegally?

 

Kind Regards

socleirigh


Regards

socleirigh

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Also the fact that they have asked for the full balance and not the arrears, does this mean they have actually terminated the agreement illegally?

 

Kind Regards

socleirigh

 

 

In a word, yes!

 

The design of the DN is to give you an opportunity to put things right prior to further action

 

To do this, it must accurately state the amount required to clear the arrears and this amount ONLY

 

ont have access to all my files at the mo, but there is a COA case that proved this and this would be binding on a lower court

 

(anyone remember the name of case off the top of their heads?)

  • Haha 1

omnia praesumuntur legitime facta donec probetur in contrarium

 

 

Please note: I am not a member of the legal profession, all advice given is purely my opinion, if in doubt consult a professional

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Further, have they terimated the agreement via a seperate letter, or does it state on the DN similar to "if you fail to rememdy this by the date shown we will terimnate the agreement" (or similar)

 

?


omnia praesumuntur legitime facta donec probetur in contrarium

 

 

Please note: I am not a member of the legal profession, all advice given is purely my opinion, if in doubt consult a professional

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Sorry ncf355 for only getting back to you now. I can only use the internet a few minutes each day in work, and don't have access at home.

 

They haven't yet sent a separate letter terminating the agreement, and I'm not sure what the text in the DN says. I'll have a look at home tonight and post comment tomorrow.

 

Thanks for your help so far.

 

Kind Regards

socleirigh


Regards

socleirigh

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Hi

 

No they haven't sent a letter terminating the agreement, and the only thing the DN says is that if I don't remedy the alleged breach, then they may commence legal proceedings to recover the full balance.

 

Kind Regards

socleirigh


Regards

socleirigh

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Hi,

 

I've had a few letters since my last post.

 

The first was one saying that the loan was being moved from Nationwide Trust to Nationwide Building Society Ltd. (No mention of assignment)

 

I'm not sure if this is connected to the second letter I received, which is from KPR Debt Collection requesting the full balance within seven days. I have learned from other threads that KPR are actually part of Nationwide.

 

Is it just a coincidence that these two letters arrived roughly a week apart, or did the first one have something to do with the second?

 

Regards

socleirigh


Regards

socleirigh

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Hi

 

Wouldnt bother too much about the standard letters they send you.

 

I would concentrate on writing a letter to Nationwide informing them as they have illegally terminated your account by not giving you the required 14 days and asking you for the balance instead of the arrears you will be taking legal action against them.


IVA Entry Removed

Nationwide Default Removed

Nationwide Joint Account Default Removed

Natwest Default Removed

Blackhorse Car Finance Court Claim - Won

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Hi

 

I have seen on other threads that some people have not waited for a termination letter and have gone ahead and sent a letter accepting the unlawful rescission of contract as termination.

 

Does this work, or should I hold out for a termination letter?

 

Kind regards

socleirigh


Regards

socleirigh

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Hi diddydicky

 

Yes, the D.N. asks for the whole outstanding balance of more than £16k to be paid in full.

 

I also received a letter at the weekend from K.P.R. offering me to settle the loan at a discounted amount. It says to phone them within seven days to agree figure, after which time this offer will be withdrawn. It also says that if I agree to this they will mark the account as partially satisfied with the CRAs. Does this mean that they could sell any remaining balance to a DCA?

 

Regards

socleirigh


Regards

socleirigh

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yes

don't do it

 

int, if they are offering a discount that means something is wrong,

i smell a rat!

 

dx


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Hi dx100uk

 

I won't phone them, and hopefully they will pass the account onto solicitors, and thus formally terminate the agreement, allowing me to accept their unlawful rescission of contract.

 

Thanks

socleirigh


Regards

socleirigh

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Hello greendollar!

 

Would someone confirm that the 14 days are 'working days' mon - fri ?

 

Sadly, no. The 14 days are 14 clear days, i.e. whole or calendar days.

 

The Working Day issue is mainly in relation to the time scale for getting the Default Notice to you.

 

In that case, Working Days are very important, and you need to establish Date of Posting, Type of Post used (1st Class, 2nd Class, or worse which would be classed as 2nd Class) from which the Legal Date of Service can be established...which is not the same as the actual day the Notice happened to arrive.

 

Thus, always keep the Envelopes within which any bank letter is sent, and especially in relation to s87(1) Default Notices.

 

Examine the Envelope for Franking Marks and Dates, and any Barcodes that might one day be de-coded to establish key dates that can aid the clarification of the Date of Posting or at least confirm when the Envelope was still in transit so not Served at that time. IOW, other evidence to show that you had not actually been Served with the damned thing at that time!

 

Cheers,

BRW

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you dont need to smell the rat- it is right there in front of your eyes!!

 

the demand to pay the full outstanding balance of the account is an unlawful repudiation by the creditor of his obligations- he has made it clear that he will not permit you to continue to pay sums not yet due on a monthly basis

 

the wording of the DN defeats the intent and purpose of the DN and it is impossible for your comply with it ANd obtain the benefits of its intent and purpose

 

 

|I would wait a couple of weeks for a termination letter or another demand for payment in full and if none recevied then write and regard the DN as an unlawful rescission

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just a quick update - received my third default notice from Nationwide this week. They have fixed one of the problems in that they ask for the arrears this time, not the whole balance.

 

But, yet again they have not allowed sufficient time to remedy the default. The default was issued 19th May, and asked for the arrears to be paid by November 2009!!! As this date is before the default was issued, they are obviously not allowing fourteen days to pay the arrears!!


Regards

socleirigh

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Had to laugh at their total bloomin' ineptitude!

 

Any update on unlawful rescission yet, socleirigh?


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