Friends NatWest loan - have MISFILED the Consumer Credit Agreement

[robcag]

Whilst I would agree that it is always possible that an agreement could be found I don't think it is very likely given NWs track record.

 

A reconstituted agreement could only satisfy a s77-78 request, they are perfectly aware that it wouldn't do them any good in court (if they were silly enough to go to court with one).

 

Upon receipt of your F&F offer the ball will be in their court, if they choose to hit it out that's their choice.

 

Rob

[BRIGADIER2JCS]

Thanks Brig - point taken.

 

Do you have any views on the letter itself or the tone of it, please?

 

The letter otherwise is fine get it away!!

 

As to missing or ''misfiled'' documents I have a case at the moment where a recon has been produced 2 years after the original CCA request, you cannot presume or assume anything these days an imo it would be foolish to do so.

 

Good Luck

 

please keep us upto date.

[jamesbond]

this is not a very good position for any of the parties to be in.. if you do stop making payment your friend will be hounded by dcas and, whilst you can respond to each one and get this stopped, it will still happen and may cause them distress.

 

whilst the debt is outstanding, they will continue to file with the dcas , and as the default happened in 2008, it will be removed in 18 months or so, so may not be an issue..

 

if you make an f&f without a guarantee of info removal from the cras, i cannot see any advantage, as the loan would be extremely difficult to enforce anyway, so it is questionable if they would pursue? but you may not have as much hassle in the long run.

 

i agree with robcag that this is not debt avoidance as they have failed to comply in the correct and proper format.

i also agree with the brigadier that you should always advise on caution on how such mutual agreements are reached with an emphasis on protecting the debtors interests.

 

it is yours and your friends decision which route to go after some careful thought i think..good luck with it!!

[dx100uk]

evening asked to pop in.

i think the over-riding thing here is the REASON this account was taken out...

 

it was forced debt consolodation.

 

i would bet the previous loan had charges/ppi

and

i bet she got NO rebates either [ which you should get upon refinance]

and

a current account as wrll.....

 

now, that smells on two fronts

 

one, by 'joining' these accounts into a loan was very naughty for numerous reason

but , it nicely hide current account OD charges too.

 

i would say that its TOUGH they cant find the agreement.

 

but , nice justice!!

 

i bet, if a claim could now be put in for

bank/OD charges

PPI & loan PENALTY charges

 

that would wipe the currect debt out.

 

i pers would not pay them another penny

 

dx

[Let Them Knock]

evening asked to pop in.

i think the over-riding thing here is the REASON this account was taken out...

 

it was forced debt consolodation.

 

i would bet the previous loan had charges/ppi

and

i bet she got NO rebates either [ which you should get upon refinance]

and

a current account as wrll.....

 

now, that smells on two fronts

 

one, by 'joining' these accounts into a loan was very naughty for numerous reason

but , it nicely hide current account OD charges too.

 

i would say that its TOUGH they cant find the agreement.

 

but , nice justice!!

 

i bet, if a claim could now be put in for

bank/OD charges

PPI & loan PENALTY charges

 

that would wipe the currect debt out.

 

i pers would not pay them another penny

 

dx

 

What an appealing idea. This string of three loans really is what brought on the need for the DMP.

 

The good news is - it has produced a fair amount in PPI reclaims.

 

Presumably, in time, I will have enough pieces from the SAR to see the full picture.

I do not expect the F&F I offered to be accepted - it has been ignored once already so perhaps the potential charges, interest, etc will be the 'edge' needed to get this sorted.

[Let Them Knock]

Update:

I received a telephone call from NatWest (Birmingham) today. The helpful gentleman refused the F&F offer of £2100 because my friend is currently paying £10 a month (and for the next 112 years at this rate). He did say that Fredrickson are now out of the loop.

 

He then asked me if my friend has any 'medical issues' that would help him to reconsider the offer. As it happens she has. He asked for a doctor's letter confirming this.

 

A couple of questions:

 

1. Has anyone any experience of NatWest taking medical conditions into account in considering a F&F, please?

2. Does anyone know of any 'guidelines' NatWest use in considering a F&F offer?

 

Views, comments, etc most welcome.

Edited November 9, 2012 by Let Them Knock

[Let Them Knock]

Briefly:

A friend owes NatWest a balance of £13k on a personal loan account from 2006.

She pays them £10 a month under a self-administered DMP and interest is frozen.

The account was defaulted in early 2008.

A CCA request has found that the CCA is 'misfiled' and unavailable (unenforceable).

 

She also has two other overdraft accounts (under £5k in total) which are now Statute Barred, although I haven't yet sent the SB letters.

 

I made a F&F offer on the loan account (on her behalf) of about 16% in July which was ignored. I re-made the same offer in October which was turned down in November (they telephoned me). At this time they asked for additional medical info (which I provided).

The latest letter from them is a fairly 'standard' one asking for a detailed I&E statement naming other creditors and giving the amounts she pays them, etc. It lists the loan account and the two (SB) overdraft accounts at the top.

 

So, a couple of questions, please:

 

Should I send off the two SB letters and get these accounts out of the equation immediately?

Should I provide the I&E statement requested (although we don't want to as we think it may be to get her to acknowledge the SB debts)?

And particularly: Should I put her loan account 'into dispute' and stop the £10 monthly payments with a view to pushing them to accept the F&F offer?

 

Or what? Thoughts and advice most welcome.

[BRIGADIER2JCS]

Yes the SB letters should go asap I suggest the following:

 

To The Compliance Manager

xxxxxxxxxxxxx

 

Ref: use theirs.

 

Notification Limitations Act 1980

 

Dear sir,

 

|I write on behalf of aaaa xxxxxx regarding the allged debt for £xxx .xx please note aaaaa xxxx does not acknosledge and such debt.

 

Having checked his/her credit history he/she states that any such alleged debt is statute barred, and therefore no payment or offer of payment will be made now or in the future regarding this matter.

 

You will now cease to process all data relating to aaaa xxxxx and remove from your records immediately.

 

Please be aware should you wish to contest the status of this debt the onus pf proof that the debt is not statute barred lies entirely on your compand it is not for aaa xxxx to prove that it is statute barred.

 

Confirmation of your compliance with these requirement should be made within 7 days.

 

you will need to send a simple ''letter of authority to act'' with these letters, use recorded delivery.

[dx100uk]

how much was that org loan for?

 

dx

[Let Them Knock]

how much was that org loan for?

 

dx

 

Almost exactly the amount she still owes but she had a successful PPI re-claim paid to her directly earlier this year..

[dx100uk]

what...so a £13k loan is till at 13k after all those years?

 

and with a ppi reclaim..something not right there.

 

dx

[Let Them Knock]

what...so a £13k loan is till at 13k after all those years?

 

and with a ppi reclaim..something not right there.

 

dx

 

The PPI reclaim was paid direct to her, by cheque.

[dx100uk]

yea but the overall outstanding bal should stil have gone down.

 

dx