Hi everyone

Thanks to all your help I have received a letter from Eversheds, as I have proven illness they have contacted the Nationwide and have come back with a full and final settlement value of 3000 but it has to be paid by the end of next week.

I felt better - mentally - about this, but one problem. I havent got 3 grand and wont get a loan. Should I offer what I have got and risk loosing the offer, or ask for the payment date to be stretched until I could raise this money?

Any advise would be gratefully received

-- rob dodd (robdodd2@dialstart.net), February 10, 2001

Answers

Rob

What amount was the original debt they were claiming?

-- Bryan Turner (bryan@loancheck.fsnet.co.uk), February 10, 2001.

This seems to be common practice Rob I'm afraid. They offer you a greatly reduced sum as a * goodwill gesture * then ask for it to be repaid in a ridiculously short time. They know that 9 times out of 10 you will not be able to pay, but it looks good on paper and should you go to court they can say " We did generously reduce the amount m'lud but the defendant declined our offer " I'm sorry to say it's just another example of them adhering to the * 5 point plan * Be careful in what you do though, if you offer a lesser sum it could be seen that you are admitting the debt! J.

-- jacky jones (jones5@btinternet.com), February 10, 2001.

In my opinion you should hold them to strict proof of the debt. If you have a proven illness, your earnings are presumably not that high, so Eversheds/Nationwide can only lose by starting legal action against you (and therefore forcing themselves to produce the documentation that you have no doubt asked for).

My opinion: politely decline the offer and repeat requests for sight of all original documentation relating to the sale of the mortgage.

Lee

-- Lee (repossession@bigfoot.com), February 13, 2001.