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Loan legal action threat


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I have a loan with Northern Rock, which has not been in arrears until this month - a couple of times they have had the payment on the second attempt, but this month there's not enough to cover it. The reason for this is the £4,500 in charges on our accounts that I am awaiting to get back.

 

I had a call from NR this morning asking when I would be able to pay the arrears (14 days overdue today) and I explained the situation. The guy told me that I had been in arrears for a while now and the next step was legal action! :shock: I asked him to confirm the date of the missing payment to make sure there wasn't one from a couple of months back that I'd missed, but it was definitely the May payment he was talking about.

 

Can they make threats this quickly with an otherwise unblemished payment history, and for just 14 days overdue?

Jeep (The Wife & I)

Halifax joint a/c (£3800 charges + £40 interest on charges over 11 years) - paid in full 23/06/06

Halifax joint a/c new charges £1100 - LBA sent 02/08/06

Halifax 2nd a/c (£1500 charges + £150 interest on charges) - partial payment received 13/07/06 (no s69 interest) - AQ filed 07/08/06 - Court awarded 50% of s69 interest (Bank didn't turn up!)

Halifax Visa (#1) Data Protection Act sent - statements arrived - £350 so far

Halifax Visa (#2) Data Protection Act sent - refunded £170

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I've just written to them to explain my position with regard to reclaiming my charges and asking for a bit of leeway, especially in the light of not being behind before. I have also asked them to explain the reasoning behind the threat to 'go legal'.

 

Are they being unreasonable or just posturing?

Jeep (The Wife & I)

Halifax joint a/c (£3800 charges + £40 interest on charges over 11 years) - paid in full 23/06/06

Halifax joint a/c new charges £1100 - LBA sent 02/08/06

Halifax 2nd a/c (£1500 charges + £150 interest on charges) - partial payment received 13/07/06 (no s69 interest) - AQ filed 07/08/06 - Court awarded 50% of s69 interest (Bank didn't turn up!)

Halifax Visa (#1) Data Protection Act sent - statements arrived - £350 so far

Halifax Visa (#2) Data Protection Act sent - refunded £170

DONATE - Support this site, it supported you!

Follow the route: FAQs > Template Library > Parachute Account > Bank Forums > Spreadsheet

All advice given in good faith and without prejudice or liability, to be taken at your own risk!

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I would be wary of using waiting for a bank to pay up as an explanation for why you haven't paid another bank! Northern Rock is no doubt facing plenty of claims itself and is unlkely to view your reasoning favourably. In fact they may take a very harsh view of it indeed.

 

NR can't take legal action until they have defaulted you. I would suggest making a payment of whatever you can afford and trying to negotiate a payment plan to reduce the arrears. They are unlikely to want to go down the legal path unless they have tried to resolve matters first.

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I would be wary of using waiting for a bank to pay up as an explanation for why you haven't paid another bank! Northern Rock is no doubt facing plenty of claims itself and is unlkely to view your reasoning favourably. In fact they may take a very harsh view of it indeed.

 

NR can't take legal action until they have defaulted you. I would suggest making a payment of whatever you can afford and trying to negotiate a payment plan to reduce the arrears. They are unlikely to want to go down the legal path unless they have tried to resolve matters first.

 

It went into the post box about 45 minutes ago. :sad:

 

I see what you're saying that they might take a harsh view, but surely they can't hold my action to recover my own money from another bank as a reason to treat me badly - that would be most unfair. I wanted to explain to them that the reason for non-payment was due to the bank's actions and not down to negligence on my part. I will give them a call and offer to pay 10% now, as that makes a lot of sense and I can probably slip that in before my balance falls too far.

Jeep (The Wife & I)

Halifax joint a/c (£3800 charges + £40 interest on charges over 11 years) - paid in full 23/06/06

Halifax joint a/c new charges £1100 - LBA sent 02/08/06

Halifax 2nd a/c (£1500 charges + £150 interest on charges) - partial payment received 13/07/06 (no s69 interest) - AQ filed 07/08/06 - Court awarded 50% of s69 interest (Bank didn't turn up!)

Halifax Visa (#1) Data Protection Act sent - statements arrived - £350 so far

Halifax Visa (#2) Data Protection Act sent - refunded £170

DONATE - Support this site, it supported you!

Follow the route: FAQs > Template Library > Parachute Account > Bank Forums > Spreadsheet

All advice given in good faith and without prejudice or liability, to be taken at your own risk!

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  • 12 years later...

This topic was closed on 11 March 2019.

If you have a problem which is similar to the issues raised in this topic, then please start a new thread and you will get help and support there.

If you would like to post up some information which is relevant to this particular topic then please flag the issue up to the site team and the thread will be reopened.

- Consumer Action Group

Jeep (The Wife & I)

Halifax joint a/c (£3800 charges + £40 interest on charges over 11 years) - paid in full 23/06/06

Halifax joint a/c new charges £1100 - LBA sent 02/08/06

Halifax 2nd a/c (£1500 charges + £150 interest on charges) - partial payment received 13/07/06 (no s69 interest) - AQ filed 07/08/06 - Court awarded 50% of s69 interest (Bank didn't turn up!)

Halifax Visa (#1) Data Protection Act sent - statements arrived - £350 so far

Halifax Visa (#2) Data Protection Act sent - refunded £170

DONATE - Support this site, it supported you!

Follow the route: FAQs > Template Library > Parachute Account > Bank Forums > Spreadsheet

All advice given in good faith and without prejudice or liability, to be taken at your own risk!

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Share on other sites

Please note that this topic has not had any new posts for the last 5237 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

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