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About johntina

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  1. hi, see you have applied for no win no fee mis sold loan with Idem, I am currently about £12000 in arrears and getting worried as i think they may soon go for a possession order. our loan was originally with picture and we now owe more than we borrowed in january 2006. despite paying £585 a month from feb 2006 to july 2013 before falling into arrears as my wife got breast cancer we now owe £64,000 on a £60,000 loan.. Have you used a internet based solicitor as i would also like to go down this road. I have also just today composed an e-mail to the newspapers as there are hundreds of us in this situation. I bet Idem has paid peanuts for these loans as its about the third time mine has changed hands.
  2. I got the same letter so not sure where I stand now as reduced payment is suppose to run until October but still cannot pay full amount after
  3. Don't phone Webb as they are unhelpful and rude on the phone and try to bully you into paying what you cannot afford.. I am currently paying £60 a month instead of £585 due to my wife getting cancer and being long term sick and this was not agreed as such as I ended up just telling them in writing this is what I am paying and have done so for the last 6 months. .. There is just about enough equity to pay my main mortgage if they want to reprocess and it will cost them to do and force us into bankruptcy if they then come but the unsecured balance and they will end up with nothing.. . I Have nothing but contempt for this company as paid back £49,000 of £60,000 and now owe £63,000 with the arrears...
  4. Sounds right to me as took out loan at around the same time for £60,000, after paying £49,000 I had paid £2000 off the loan and as my wife got cancer and is on long term sick I have only paid £60 a month for the last 6 months and now owe £63,000... . I suspect the only reason they have not gone for repossession yet is the fact is is just enough equity to cover my main mortgage
  5. We took out a secured loan with picture in 2006 at an interest rate of 8.9% variable when the bank of England base rate was 4.5%. This increased slightly as rates went up a little but we are still paying today at a rate of 9.592%. I wrote to webb resolutions who took over when picture defaulted to ask why the rate has not dropped with the current base rate at 0.5 % and said as they have not dropped the rate does that mean it won't increase when interest rates go back up. They tell me there rates are based on market factors and not the bank of England rate and as my loan is variable it could rise in the future. Is anyone else in the same boat as it sounds as if we are being ripped off. Also can i complain anywhere else about this loan.?
  6. I am just about to try and claim as well.it is only when i wanted to cancel my policy that i found out the true extent of what i was paying. on a loan of £50000 the ppi was added £12000 therefore making my loan £62000 and this policy only covers the first 5 years althrough you do get half of it back if you have not claimed. my payments are £600 a month over 20yrs and without this policy i could knock £100 a month off my repayments. When i tried to cancel i was offered a mere £1200 back off my loan.I do not recall being told how much the policy was and cnnot remember being asked any medical questions. I have asthma and have been off work with stress in the past. this policy is out and out robbery. John
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