I finally handed back the keys to Nationwide for a flat I had in Winchester in Jan '95 after a long running saga with them. Heard nothing further until December '99 when I receivd a demand for approx £32,000 but suggesting a setlement figure of £8,000. Ignored this letter - wondered how they had traced me as I had moved twice since the last forwarding address they had. There was a follow up letter in January 2000 and a telephone conversation when they suggested I made an offer. Politely advisd them that I had nothin to really offer and again ignored them.(posted 8481 days ago)In November 2000 I had another letter from their 'Lending Control' Dept advising that they had re-organised and again pursuing the same figure of £32,000 and again offering a reduced settlement of approx £8,000 - offer to remain open for 28 days. I ignored this leter as well as the follow up which arrived in December.
I have now had a rather heavier letter advising they will take 'any action they consider appropriate' to recover the full balance which may include procedings for personal bankruptcy.
I was succesful four years ago in gettng another mortgage as my circumstances had improved dramatically. Naturally I would prefer not to be made bankrupt or lose this house.
Only found this site today and have read many of the questions / responses - very encouraging but also saddening to hear of so many similar cases.
Anybody got any experience with the Nationwide, will they pursue to bankruptcy, etc?
Guess my next step is to write requesting details of their claim, how was property marketed etc.
Any sggestions most appreciated.
Thanks
Guy