Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
I've been following several threads for almost a week now and I am absolutely delighted that there are brave peopole out there who are fighting for their rights against finance mob.
Ell-en kindly suggested to start my own thread and to explain in what mess I managed to get into...
My husband lost his job in Feb this year and we fell in arrears with our mortgage payments - more than 6K at the moment. As you can already suspect account was passed to solicitors on the 7th June and we got already a court date 22 Jul 09.... Having in addition Welcome Finance and RCIFS, I can say this is the biggest nightmare I ever was in.
I was hoping that YBS being a high street lender will be more cooperative but seems they are no different from any sub-prime shark. Today I've received a letter stating that they are going for the straight 28 day order on the account... because I am unable to bring the arrears below 2 months outstanding balance... how I can if my husband was on JBS until the end of May... and he now got only a temporary job on as needed basis... and I am out of business... no income at all... and no help from anyone...
Have you kept YBS advised of your situation and have they offered any help to you at all (they should have - in line with the government recommendations for mortgage arrears protocols).
Do you have any children?
Once we get more info we'll know the best advice to give you.
At the moment we are not entitled to any benefits, my husband is working more than 16 hours a week and I am a managing director of my almost sinking co. And we have no kids... mortgage is capital + interest. I've already asked YBS for a temporary relief from dec 08 to Feb 09, they accepted but in Feb my husband lost his job and everything went pear shaped... He was on JSA until May and we even got an application from Job Centre for mortgage interest relief, but because he suddenly started to earn more than £60 a week this opportunity has gone (looks like if you got yourself into trouble just sit back and relax - government is going to do everything for you, but if you are trying not to become a burden then you are allowed to drown... I still do not understand that kind of reasoning).
YBS knew everything but when arrears become 3 months they requested to lower arrears to min 2 month (to pay in one lump sum). Having an approx £600 income per month not much it is possible to pay. All communication was by phone. This means I do not have any substantial proof that they were informed... sooo stupid of me. They offered only one type of help - advised to contact PayPlan. These people reffered me back to YBS... citizens advise bureau did the same... enchanced circle...
We submitted a claim to Employment tribunal v ex employer for my husbands constructive dismissal. I've sent confirmation to YBS. they replay was "We are unable to hold action based on a tribunal against .... due to the time scale involved and there is no quarantee that the judgement will be in your favour". The case consists of many parts - racial discrimination, contract breach, non payment... I do not think that ET just going to say that everything is rubbish... sorry
Funny enough, my husband is going to sign a contract for a permantent job in two weeks and looks like my business is picking up, we definitely can start to pay monthly instalments + something in addition from August onwards. But YBS do not want to wait...
In addition my mortgage is complicated. It consists of three parts:
1. 75% From YBS - interest 6.9%
2. 12.5% From YBS, for five years no interest then 3%
3. 12.5% From Housing association, no interest at all, only when selling a house they will hit us with 12.5% on a price increase (of course not in the current market contitions).
Hi there, first thing you need to do is to write to the lender (copy to their solicitors), making your offer of payment (this will prove to the court that you have asked for their help). You need to quote the Civil Justice Council mortgage Arrears Protocols whereby lenders are supposed to offer help to those in arrears i.e. capitalising the arrears, changing to interest only for a period etc etc.
If you need help with the letter, please let me know and I'll happily draft one for you.
Hi there, OK I will draft a letter and put it on this thread later today.
In the meantime, you need to fill in a budget sheet to show how you are going to afford the payments (I have affixed one for you). Remember that the amount you are offering to pay towards the arrears (in addition to the normal monthly payment) is the amount left over after everything else has been paid. You need to show what your husband's salary will be in his new job.
Hi there, affixed is the letter. You will need to insert information where I have put XXX's for your names and amount you are offering to pay. (remove the XXX's)
When you print it out make sure it all stays on one page (set your printer for A4 paper not Letter size).
Don't forget to attach the budget sheet. Keep a copy for yourselves and send by recorded delivery so you can print off the signature receipt from Royalmail website as you may need to prove to the court they received the letter.
I went over the budget sheet. The most that I can afford to pay as of mid August is £100 in addition. That's it.
If honestly, I don't feel very well when looking at all these numbers... not a repayment, but the total amount of debt...
Thanks for the letter, I am going to finish it today and send it tomorrow, not the first thing in the morning but as soon as I am back from London. The last couple of days was too bloody busy and tomorrow I am playing a courier - delivering a bid papers that I helped to prepare. Results will be known next week. I am praying that the contract will go through and I am going to have my first pay in a half year...
If you will really struggle to pay an extra £100 reduce it to £50 (just increase some of your outgoings on the budget sheet). You have to have something left each month as a contingency for emergency expenditure, and heating bills will increase again towards the end of the year.
mortgage arrears on 16th July will be £6513. If to pay £50 each month then it will take 130 months to get back on track... YBS are not going to be happy, but I will try to persuade them based on the fact that my mortgage is for much longer than 10 years.
Could you please help me to complete a defence form for house repo. From everything I've red so far looks like q.27 is the most important and I need to get it right. The rest are pretty straight forward yes/no qestions, with those I can deal...
And one more thing, as I've mentioned in one of my posts my mortgage consists of three parts - one standard mortgage and two equity loans. I am trying to understand how standard mortgage and equity loan should be documented. When the mortgage was arranged I've got from the lender one mortgage offer where both parts are described separately. Is this correct or there should be two different documents. In FSA Factsheet "Open market homebuy scheme" it is said that "if you borrow under the scheme, you will take out three different loans. Each works in a different way..." but from all documents I have it looks like there are only two loans - one from YBS and another from HomeBuy agent.
Any help on this would be greatly appreciated.
me & my mortgage with YBS
,
payments - more than 6K at the moment. As you can already suspect account was passed to solicitors on the 7th June and we got already a court date 22 Jul 09.... Having in addition Welcome Finance and RCIFS, I can say this is the biggest nightmare I ever was in.
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