Sorry about your situation Mike. Maybe start a new thread? Should get more response. Just in the door. With regard to my own situation I have excellent news, really friendly judge and a very amiable legal guy representing Preferred/Capstone. They were most impressed with Ell-enn's paperwork and repo claim has been suspended. I'll post a more detailed update later on. Happy days!!

Sorry about your situation Mike. Maybe start a new thread? Should get more response. Just in the door. With regard to my own situation I have excellent news, really friendly judge and a very amiable legal guy representing Preferred/Capstone. They were most impressed with Ell-enn's paperwork and repo claim has been suspended. I'll post a more detailed update later on. Happy days!!

Ell-enn, that is so helpful of you, I'm overwhelmed to say the least. I had no idea of the protocol required, ie 3 copies etc. I'm certainly a lot more optimistic about the whole thing. Just one question, what is seen as realistic with regard to the amount of money on top of the normal monthly payment? Ideally an extra year or two on the loan term would be good but I think you mentioned it would be too late for that. Is £50 per month realistic? At least until matters improve? Again, many, many thanks for your assistance.

Ell-enn, that is so helpful of you, I'm overwhelmed to say the least. I had no idea of the protocol required, ie 3 copies etc. I'm certainly a lot more optimistic about the whole thing. Just one question, what is seen as realistic with regard to the amount of money on top of the normal monthly payment? Ideally an extra year or two on the loan term would be good but I think you mentioned it would be too late for that. Is £50 per month realistic? At least until matters improve? Again, many, many thanks for your assistance.

That would be fantastic. Although my hearing is at midday and we'll be leaving around 9.30 as we're a couple of hours away from the court. Other than what I mentioned do I need to take anything else with me? Rgds.

That would be fantastic. Although my hearing is at midday and we'll be leaving around 9.30 as we're a couple of hours away from the court. Other than what I mentioned do I need to take anything else with me? Rgds.

Thanks, makes good sense. Will the likes of £20 per month extra be taken seriously by the court? Other than my I & E sheet and my proposals what else should I take? Do I need any documentary stuff like bank statements, pay slips or evidence of my business improving etc? I presume I should highlight to the court the extra charges that have been applied by Capstone to my account?

Thanks, makes good sense. Will the likes of £20 per month extra be taken seriously by the court? Other than my I & E sheet and my proposals what else should I take? Do I need any documentary stuff like bank statements, pay slips or evidence of my business improving etc? I presume I should highlight to the court the extra charges that have been applied by Capstone to my account?

Thanks all for your comments. Well, I rang Capstone and spoke to a nice and friendly bloke who seemed sympathetic to my case and even said that I shouldn't be too worried about the hearing. He said it wouldn't be as daunting as I thought and that the whole point was to arrive at a practicable solution for all concerned. Hmmm. Then went through a brief I and E calculation although there were some figures I couldn't be too accurate with. He said that if there was disposable income left then there was little chance of extending the term which I guess is fair enough. He also added that any decisions rest with the judge rather than Capstone at this stage as mentioned by Ell-enn. So I've now got to decide on what exactly we can offer or more specifically what the court will accept. Although we can restart payments next month and are quite confident that maintaining the payments won't be an issue it's difficult to know what the future holds with regard to any extra payments. It should be ok but...well. Ell-enn we've filled in you I & E sheet and there is some extra money left but by no means a lot. Are we allowed to have some measure of rainy day money? With kids and running a house there is always some sort of minor emergency or something that needs money. Just to add that the only figures that Capstone could supply regarding the extra charges was that over the past 12 months there were nearly £1,400 worth of extra charges and fees.

Thanks all for your comments. Well, I rang Capstone and spoke to a nice and friendly bloke who seemed sympathetic to my case and even said that I shouldn't be too worried about the hearing. He said it wouldn't be as daunting as I thought and that the whole point was to arrive at a practicable solution for all concerned. Hmmm. Then went through a brief I and E calculation although there were some figures I couldn't be too accurate with. He said that if there was disposable income left then there was little chance of extending the term which I guess is fair enough. He also added that any decisions rest with the judge rather than Capstone at this stage as mentioned by Ell-enn. So I've now got to decide on what exactly we can offer or more specifically what the court will accept. Although we can restart payments next month and are quite confident that maintaining the payments won't be an issue it's difficult to know what the future holds with regard to any extra payments. It should be ok but...well. Ell-enn we've filled in you I & E sheet and there is some extra money left but by no means a lot. Are we allowed to have some measure of rainy day money? With kids and running a house there is always some sort of minor emergency or something that needs money. Just to add that the only figures that Capstone could supply regarding the extra charges was that over the past 12 months there were nearly £1,400 worth of extra charges and fees.

I'm about to talk to Preferred/Capstone. Should I suggest to them to extend the term or to offer them an extra £50 -£100 per month? Bit nervous about calling them.

I'm about to talk to Preferred/Capstone. Should I suggest to them to extend the term or to offer them an extra £50 -£100 per month? Bit nervous about calling them.

Thanks Applecart, I'll read up on those links later. Ell-enn, I had a few missed months in early 08 but gave them £3k in June 08 which I think made me one repayment in arrears. However after that I failed to give them any further money, or at least little of consequence. So I reckon I'm maybe 14-15 months in arrears. Current outstanding figure according to Preferred/Capstone in their last letter of Oct 20th is £14,336.83. Extra charges - For every month in arrears -£45 (although got 2 arrears fees in Sept 08 of £45 and £50) Then the fee changed to a Litagation Man Fee of £115 per month. Furthermore I had a man (very friendly I might add) call around twice and I'm sure he said he cost me £100 per visit but I see no note of this in their quarterly statements. So I think extra charges total at least £1,600 - 1,800 and no doubt there's a further charge or two for the hearing, checking of occupancy, solicitor's letters, referral to solicitors etc. Incidentally, perhaps of no real importance, but the outfit that arranged the mortgage in 05 grabbed £2,200 for their trouble.

Thanks Applecart, I'll read up on those links later. Ell-enn, I had a few missed months in early 08 but gave them £3k in June 08 which I think made me one repayment in arrears. However after that I failed to give them any further money, or at least little of consequence. So I reckon I'm maybe 14-15 months in arrears. Current outstanding figure according to Preferred/Capstone in their last letter of Oct 20th is £14,336.83. Extra charges - For every month in arrears -£45 (although got 2 arrears fees in Sept 08 of £45 and £50) Then the fee changed to a Litagation Man Fee of £115 per month. Furthermore I had a man (very friendly I might add) call around twice and I'm sure he said he cost me £100 per visit but I see no note of this in their quarterly statements. So I think extra charges total at least £1,600 - 1,800 and no doubt there's a further charge or two for the hearing, checking of occupancy, solicitor's letters, referral to solicitors etc. Incidentally, perhaps of no real importance, but the outfit that arranged the mortgage in 05 grabbed £2,200 for their trouble.

Hi Ell-enn, many thanks for your reply and the budget sheet. In answer to your questions: 1) Reason for arrears was initially a 2 yr Vat investigation in 06. They reckoned I owed £248k. I was guilty until I could prove my innocence. All my suppliers were visited, 4 court dates - 3 cancelled the evening before, the 4th the revenue's solicitor forgot his file. Long story short, I managed to settle for £3k as my business was wrecked and had £5k accountant fees etc. managed to get going again and the recession happened and had a few bad debtors, currently getting back on my feet but very slowly. 2)Mortgage is in joint names 3)2 children under 18 4)Currently looking for the last statement. I'm not sure I've had anything listing extra charges. I'm sure they mentioned something about £125 extra per month but will check that. Rgds