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Account put into default, Letter recieved in response.....

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Hi All

 

I have recieved this response from Natwest regarding my CCA claim and Account default letter, set out below.

 

What would be my next course of action, letter to send?

 

'We explained in our previous letter that we were unable to supply a copy of the loan agreement. It is axiomatic that as a consequence of this failure the effect of Section 77(4) means that we cannot enforce the agreement. We do not dispute this fact.

We pointed out that the loan agreement remains valied, i.e. Section 77(4) does not make the agreement void. The debt exists and we are entitled to carry out all actions that do not amount to enforcing the agreement. Reporting to Credit Reference Agencies your failure to pay sums due under the agreement in not 'enforcing the agreement'.

We accept that if you continue not to meet your obligations under the agreementit would be futile for us to raise court proceedings agains you as you could simply seek a stay of proceedings pending our compliance of the Section 77(1) request.

accordingly until such time as we put ourselves in position of being compliant under Section 77(1) we will not rais court proceedings for recovery of the loan debt.

 

Thanks

 

dmb

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Hi dmb,

Looks like a bit of a white flag (but with teeth).

 

They're acknowledging the fact that they cannot 'enforce' the agreement (unless they find the copy of the agreement) in order to make you pay. However, should you choose not to pay they are saying that they will stlii trash your credit file AND they are saying it's their right to do so.

 

Looks like you have a strong bargaining tool to bash them with to me :)

 

M


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ALL unsolicited PMs and E-mails should be posted up - Not all on CAG are who they appear to be

 

 

My views are my own. If in doubt, seek professional advice. If I can help though, I will. CAG helped me!!

 

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I'm hopeful of something like this.I don't give a rats ass what they put on my credit file,I have no money to pay what I owe never mind more credit.

Well done you.

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Thanks M & M what course of action should I now take...?

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Thanks M & M what course of action should I now take...?

 

I think this depends on your own moral judgement and what you are trying to achieve. What result are you looking for from this?

 

If you are just trying to reduce payments drastically or partially, they don't appear to have a lot of choice in the matter. By their own admission, they cannot 'enforce' the agreement, as there isn't one! So you could offer a deal and you'd be very much in control of that.

 

If you're trying to say "oh well, that's it, i'm paying no more" it's unlikely they'll cease chasing, for the next 6 yrs anyway. But i'd be tempted ;).

 

However, without knowing the amount it's tricky to say, You say it was a loan - how long left and roughly what amount are we talking about? Is the end of the term not too far away? The reason I ask is that they may wait until the term is up and come back at you for the full amount as 'arrears'

 

Read this>>> http://www.consumeractiongroup.co.uk/forum/legal-issues/189110-fiddlesticks-i-didnt-know.html

 

Need a bit more info

 

M


________________________________________________________________

ALL unsolicited PMs and E-mails should be posted up - Not all on CAG are who they appear to be

 

 

My views are my own. If in doubt, seek professional advice. If I can help though, I will. CAG helped me!!

 

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The loan stands at approx £4,700, they used it to pay off a business overdraft when my company folded, I know for a fact that their was never any paperwork so I havn't got a clue over the term.

 

This along with some other creditors have for the last five years been dealt with by a DMC...Natwest Credit Card sent me a letter to say that the account is paid and closed and that I already no that, even though they keep sending me a statement showing £1,400 owing and HSBC have not bothered responding at all...so I have put all three into default and stopped paying.

Edited by dmb248

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The loan stands at approx £4,700, they used it to pay off a business overdraft when my company folded, I know for a fact that their was never any paperwork so I havn't got a clue over the term.

 

This along with some other creditors have for the last five years been dealt with by a DMC...Natwest Credit Card sent me a letter to say that the account is paid and closed and that I already no that, even though they keep sending me a statement showing £1,400 owing and HSBC have not bothered responding at all...so I have put all three into default and stopped paying.

 

This is getting interesting and I do not wish to point you in the wrong direction. Therefore, I suggest you leave it up here for a bit and i'll ask one or two of the rather 'heavier' hitters to take a peek for you.

 

Will be back.

 

M


________________________________________________________________

ALL unsolicited PMs and E-mails should be posted up - Not all on CAG are who they appear to be

 

 

My views are my own. If in doubt, seek professional advice. If I can help though, I will. CAG helped me!!

 

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OK so the natwest loan thing is the spoilt kid response 'we cannot get the money but we can pee on your credit file'. Sadly there is recent case law to back this up, even though IMO it is wrong.

 

When you say you've 'put all three in default and stopped paying', have you actually sent them a cca request?

  • Haha 1

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Yep all were sent a CCA request in October.

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Right so,

 

loan - is a 'suck their thumb' write off to all intents

 

CC is in dispute BUT they say its paid off yet send £1400 statements. Keep the letter saying it's paid off and file the statements with it - after all a statement is not a request for payment anyway.

 

And HSBC have 'done a runner on you' and so the account is in dispute.

 

If that's where you are at then I think its next move to them at the moment

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Hello All

 

Natwest sent me a letter saying that I was still liable for the loan, I wrote back with a Legal notice under the Data Protection Act 1980 which they ignored previously.

I have this morning received the following responce:

http://i978.photobucket.com/albums/ae263/dmb248/img056.jpg

 

Can anyone advise on my next course of action...

 

thanks

 

dmb

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