Apex/Natwest loan- Letter too good to be true?

[avocados]

Hi

 

I have received a letter today from Apex about a Natwest loan.

 

The loan is for just over £10k

 

In the letter it says that they are giving me a chance to make a payment offer and as long as it is in excess of £10 a month then it will not be rejected by Apex.

 

Is this too good to be true and are they just trying to make me contact them before demanding their usual unrealstic £500-1000 per month?

 

At £10 a month it would take over 80 years to clear the debt and that is if they are freezing the interest!

 

I could do with advice on this as it has surprised me some what that a DCA is not only being realistic but actually very generous and I feel that there must be some catch to this

[cerberusalert]

The catch is, they don't specify for how long they'll accept £10 per month for.

[avocados]

The catch is, they don't specify for how long they'll accept £10 per month for.

 

What if I write to them and say that I will pay you £10 a month but only if you send me a credit agreement which we can sign for on my terms.

 

That you do not contact me other than to give my annual statement (in writing)

All interst is frozen

Any charges on the account are to be wiped out

I set the length of time I pay the £10 a month for (indefinitely)

[Hardupnotfedup]

Is the account in dispute

[The Cappuccino Kid]

Have you acknowledged the debt?

[count orlok]

£10 a month is a lot if you don't have it. i only pay pound on 8K and the creditor accepts it, but then it is with the OC.

[avocados]

I have not challenged the loan and I doubt that they have messed up the CCA as it is a fairly recent one (2007/8 i think).

 

If I can pay back £10 a month I'd be very happy to do this but I feel that my initial concerns that it's just a way for me to make contact with them have been clarified by cerberusalert and that they will soon be demanding ridiculous amounts from me.

 

I'm going to be cheeky and ask them to do a proper agreement at £10 a month for the duration of the loan at zero interest to see what they say

[avocados]

£10 a month is a lot if you don't have it. i only pay pound on 8K and the creditor accepts it, but then it is with the OC.

 

I understand everyones circumstances are different, I have very little money left once the essentials like mortgage, council tax, electricity, etc have been paid for. But £10 a month is affordable and I'd be very happy to accept, I'm just extremely shocked that they have lowered their unrealistic demands so much and knew their was a catch to this.

[avocados]

I'm going to write to accept ten quid a month....

 

 

Thank you for your letter dated ## February 2010, a copy of which is attached for your convenience.

 

Firstly may I congratulate you on gaining the human qualities of realism and reasoning by offering an affordable repayment figure as opposed to your usual ridiculous demands.

 

I am very wary that this is too good to be true and you will very shortly in the future return to your campaign of harassment and once again start demanding unrealistic high amounts due to you being out of touch with reality.

 

Therefore I will make you an offer of £10 per month on my terms only;

 

Interest will be frozen and any charges applied to the account will be removed.

I require all further correspondence from your company to be made in writing only. (Please see attached letter relating to your continued telephone harassment)

You will not demand an increase in the monthly payment amount; this will remain at £10 per month indefinitely unless I contact you due to a change in my personal circumstances.

 

Please write back to me to accept my offer as it meets your requirements. You must also include that you accept my terms (listed above) which must be clearly laid out. I will be paying by standing order and require your bank details.

 

I look forward to hearing from you within 14 days.

 

Yours sincerely

Avocados

 

 

[Mr Worried]

I'm going to write to accept ten quid a month....

 

 

Thank you for your letter dated ## February 2010, a copy of which is attached for your convenience.

 

Firstly may I congratulate you on gaining the human qualities of realism and reasoning by offering an affordable repayment figure as opposed to your usual ridiculous demands.

 

I am very wary that this is too good to be true and you will very shortly in the future return to your campaign of harassment and once again start demanding unrealistic high amounts due to you being out of touch with reality.

 

Therefore I will make you an offer of £10 per month on my terms only;

 

Interest will be frozen and any charges applied to the account will be removed.

I require all further correspondence from your company to be made in writing only. (Please see attached letter relating to your continued telephone harassment)

You will not demand an increase in the monthly payment amount; this will remain at £10 per month indefinitely unless I contact you due to a change in my personal circumstances.

 

Please write back to me to accept my offer as it meets your requirements. You must also include that you accept my terms (listed above) which must be clearly laid out. I will be paying by standing order and require your bank details.

 

I look forward to hearing from you within 14 days.

 

Yours sincerely

Avocados

 

 

 

Ha Ha Ha, you cheeky bugger..good luck, oh and I mean that.

 

Mr W

[avocados]

Ha Ha Ha, you cheeky bugger..good luck, oh and I mean that.

 

Mr W

 

Thankyou, that was my first draft so I've tweaked it slightly with a bit more cheekiness and it is now on it's way to DCA land.

 

Looking forward to their reply

[diddydicky]

not a good idea!

 

unless you are happy to win the odd battle but lose the war!

[avocados]

not a good idea!

 

unless you are happy to win the odd battle but lose the war!

 

I'll probably end up losing the war anyway so a battle won is good for moral in the short term and just about keeps me from slipping into depression mode.

 

It's more than likely that I'm facing eventual bankruptcy as DCA's, Banks, etc are way too greedy to except what is affordeable to the debtor and instead always demand crazily high unsustainable amounts. In the end they will end up with nothing if they don't except as if they do drive my to bankruptcy then I have zero assests, my car is on HP and I have no equity in my home. Well bankruptcy is if they have not forced me to suicide by then in which case they will certainly get nothing from me.

 

If all my creditors except ten pound a month they would get some of their money back albeit very slowly and I'd be able to get on with my life but instead they all seem set out to destroy me in which case they will all end up with f### all

[themagician]

I'll probably end up losing the war anyway so a battle won is good for moral in the short term and just about keeps me from slipping into depression mode.

 

It's more than likely that I'm facing eventual bankruptcy as DCA's, Banks, etc are way too greedy to except what is affordeable to the debtor and instead always demand crazily high unsustainable amounts. In the end they will end up with nothing if they don't except as if they do drive my to bankruptcy then I have zero assests, my car is on HP and I have no equity in my home. Well bankruptcy is if they have not forced me to suicide by then in which case they will certainly get nothing from me.

 

If all my creditors except ten pound a month they would get some of their money back albeit very slowly and I'd be able to get on with my life but instead they all seem set out to destroy me in which case they will all end up with f### all

nice answer my kind of attitude! have something or screw you,very very very good luck,win the battle then move on to win the war,we did in the falklands! have a very nice day.

[diddydicky]

well i have some good news for you my friend

 

if you are in negative equity and have no assets you are in fact in a VERY GOOD position and you will find that if you challenge them to take that step- in the knowledge of your being a man of straw, they will not throw another 1500 quid at it!!

 

stick by your guns- make them aware of what you have (diddly squat) and invite them to "bring it on"

[avocados]

I have received a reply to my letter.

 

Looks like a standard template one saying that in order to accept my offer they require a full financial statement to include full details of my income, expenditure and other creditors.

 

I do not have to give them this do I?

 

But should I write to them and tell them I have nothing? - Zero equity in my house, vehicle is on HP (and is my work transport so they are not allowed to touch anyway) and nothing of substantial value in personal items. Shall I tell them they have a choice to accept £10 per month or they can have halve of what I have (half of nothing = nothing)

Edited March 2, 2010 by avocados

[diddydicky]

if you have nowt then you have nothing to lose by showing them your income and expenditure

 

that way there are more likely to write the debt off

[avocados]

if you have nowt then you have nothing to lose by showing them your income and expenditure

 

that way there are more likely to write the debt off

 

Thanks for the advice.

 

I genuinely have no money right now (self employed and not drawing a wage from the business) so I'll get it done over the weekend to send off on Monday.

[diddydicky]

then go for it

 

dont do it in a "cocky" way

 

do it in a "ive reached the end of the line and cant be bothered fighting the inevitable anymore" kind of way

 

it is very doubtful any of your creditors will want to throw 1500 quid down the toilet for the privelige of starting the ball rolling