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  1. Hi, I have a secured loan with Citi. we have been paying them on a monthly basis as per normal via Direct Debit. I noticed last month that they had not taken their payment as normal. So I contacted my bank and they advised me that Citi had cancelled the Direct Debit. I have not contacted Citi about this and I would like to know where I stand with this as Last months and This months payments have not been paid.Please help
  2. Hi, I hope you can offer me some advice and help on how to proceed... In 2006 I took out a secured loan with Welcome Finance, Some time later I fell into financial difficulties and went down the route of reduced payments for quite a long time etc. Welcome contacted me via a company called Empingham resolution and negotiation, Effectively chasing the debt. I replied offering a full and final settlement (reduced) and after much going back and forth, this has now been accepted. Today I received the following email from Empingham: Your Empingham Ref: xXX Creditor: We
  3. Hi I have a question about a secured loan i took out several years ago. I dont want to give to much info at this stage however I took out a loan and the maximum I could borrow was 125%, i actually got given between 145% & 165% LTV depending on the valuations done by the loan company at the time. The 165% loan was almost 10x the equity I had in my house. They loan company based my loan on my valuation which was just a stab in the dark. They accidentally sent some documents to me the other day which showed they did a valuation on my house which was ma
  4. Hi there, I wondered if anyone can help please? I stupily took out, in total a £58k loan from Picture and then got into difficulty. Picture then froze the interest when I got into arrears. I was single, living alone and panicking about my finincial situation and this option was put to me via a broker (who's now bust) I have £6,500 of arrears from 2006 but kept paying the same original agreement amount of £660pm. Other things suffered as a result but I just had to keep a roof over my head! I didn't keep a track of it but just paid every month. I've now taken my head
  5. hi all posting on behalf of my sister in law she had a house with mortgage that was repossessed in oct 2012 mortgage was with kensington...she owed approx 145,000 secured loan on house with GE money taken out late 2007 for 22,500 house sold after being repossessed in oct 2012 for 160,000 in may 2013 outstanding mortgage paid off and 15,500 went to secured loan with GE money i rang GE money today after 15,500 paid to GE money outstanding debt lies at £31,458.57 default letter sent by GE money in april 2008 actually soon after the loan was taken out last
  6. Hi, This may be an odd question but here goes. I have a CCJ instalment order which I pay £40 monthly, and they also got security on my property for 9k when Restons took me to court for unsecured credit card which I did try and fight but they got security and an instalment order. Now I am at a bit of a crossroads as I dont live in the house, it was rented and I was going to sell and may have a potential buyer. I am now thinking of moving back in the house as the equity may not be enough to repay my other debts and would want to come out debt free, however if I sold but would be about 2k
  7. Hi, First time posting and hoping for a little advice. Just had a letter land on my door mat from Credit Solutions Ltd with regard an £80,000 secured debt with Barclaycard Secured Loans. No other details apart from the usual "give us a call, we are really nice and helpful". the property that this loan was secured against was repossessed over 5 years ago ( I won't go into details as it was the same story for a lot of us back then). I have sent off the prove it letter and am awaiting a reply. I cannot actually remember the amount that was outstanding and think th
  8. Hi. I'm new to this and I apologise that this isn't in the right place to post a financial question but I watched the video and still couldn't work out how to post properly. Sorry! Please can someone give me some advice. I really need some advice regarding my whole debt situation. I am in a current CCCS debt management plan for a series of Payday loans I took out over recent years. I was told that CCCS didn't get involved with secured loans but have an issue with a GE loan I took out in 2006 and I need help!. The original loan amount was £35,000. Because I missed s
  9. Hi, I'm new to the CAG I'm I am sorting out a similar situation where ocean money have passed a secured loan through to reliance property loans and I want to offer them a lump sum to get rid of the loan. Two questions I'm wondering if the poster had any success with offering them a percentage ? also more generally, whether that approach usually works ? thanks in advance...
  10. Hi, Im new to this forum so looking for some guidance. Me and my partner took out a First Plus loan back in 2004 for £55000 at an APR of 10.5% over 300 months. We took out the optional Payment Protection Premium which came to £13469. We had been paying this off at monthly payments of £623. Due to other financial difficulties with my wifes redundancy etc..we defaulted over the years and trying to pay the installments ontime was difficult due to FP's variable interest rates, and the monthly installments kept going up to about 700 per month. We have received a letter from F
  11. Hi all, I'll try to go into a little more detail later, as taking the kids out, but just wondered if anyone has had a similar situation as me. Last year, I advised my mortgage provider (N**M) that I soon would be having trouble meeting our full mortgage repayments. long story as to why, but essentially my wife's mum was struck down out of the blue by a very serious brain tumour, and within weeks went from being a normal, healthy person to bedridden, half paralysed, and requiring 24 hour care. We couldn't afford to pay for the care, so my wife took an (agreed) unpaid leave of absence
  12. ...we are having a little bit of temporary trouble with affording the mortgage ( a long story I will post up later when I have more time) but was wondering about being in arrears. If I paid 50% of the mortgage this month, being the most I could afford at the moment, then 50% next month, would I be 2 months in arrears, having only paid half what I should? That being so, if I pay nothing next month, then a full payment the next month after, would I not then have just been 1 month in arrears, and now up to date? Just seems a quirk of the system. Probably wrong... anyone know?
  13. Hi all, just looking for any general info. I have the misfortune to have a mortgage with NRAM, and being stuck with them have recently gone into some financial trouble. Unfortunately this year my wife's mum died, and my wife was extremely distressed and ended up on sick leave then unpaid leave from work on depression; I had to leave my job to look after our children (both under 4) Very tough times, but we continued to pay all our bills and everything from savings which are now gone, and now my wife has returned to work, and I am job hunting again. However in the short term, we cannot me
  14. Hi everybody, I just joined today and this is my first post: Can my father still claim the PPI back on that loan - it was £2,700 and added to the loan from outset; so total loan amount was £29,700. I have seen some claims companies that go back 15 years. Also he had a £5,000 personal loan with midland/hsbc in the early nineties with £970 PPI added - despite the fact he banked with midland bank for 30+years as a self employed person. Any help much appreciated.
  15. My husband and I took out a loan (secured) with our friends at Welcome in 2006 for £10,000. We have had our PPI refunded already. We have approximately £4500 left on the account which is in default and with their "last chance saloon" department so no further interest is being added to our account. We are meant to be paying £220 per month, but at the moment are experiencing financial difficulties and they are not willing to help. My husband is highly likely to be made redundant in February and will be getting a payout which we intend to use to clear some debt, this being one of them
  16. Hi, Im not sure this is in the correct category - please be kind i've not written on here before. In July 2007 my husnad and I took out a secured loan on our home - which we couldn't afford but needed and there wasn't enough equity in our house so now in hindsight we dont think this was responsible lending. We have asked for a settlement quote and on an origonal loan of £29,000 after paying £24,000 already we still owe according to the company £23419.... scandalous. We have written to the company and complained about this and they have as a good will gesture told us they w
  17. Hi, Just a quick question. Is it legal for a company to continue to charge interest on a secured loan after the person who took it out has died and they have been informed of this? Thanks in advance.
  18. Hi all, I could do with some advice on our secured loan with First Plus which is for £30 K (plus PPI of £8K ) taken out end of 2003. Firstly we are having no luck reclaiming the PPI, we have been trrying since 2007, FP claim we bought loan and PPI through broker Central Trust even though we were an existing FP customer at the time and got a call from who we thought to be FP offering a further advance on loan, we were deceived into thinking we were speaking to FP when we were not !! FP will accept no responsibility for PPI as sold through Centr
  19. Can someone tell me please if a Welcome Secured loan, which has never actually been secured on the property, can be treated as unsecured. I have recently discovered that my secured loan is not recorded on the Registry anywhere. I have not made any payments for around 4 years and apart from a few threats not a great deal of contact
  20. Hi have got two secured loans with ge , both over 10yrs both insured but only for one of us ,and they only insured them for 5 years.the time is up but we still owe a lot of charges , can they try for possession thank you
  21. Hi, I am new to this forum and wondering whether anyone can help. We have a Secured Loan which is subject to a possession order which we are now in a position to repay in full. What do I need to get the bank to sign or acknowledge to say that they accept the payment as full and final settlement of this Judgment Order? Is there a particular form I should use. I don't want to pay them anything unless they acknowledge that this will settle the matter in full. Does anyone know of a proforma I can use. Thanks, Mags
  22. Hi Guys I was wondering if someone could give me any help/ideas/info.... I will try and keep it as short as I can with as much info as I can remember.... I have had a couple of BlackHorse loans in the past which for one reason or another got topped up or rewritten. I think these had PPI on but were a long time ago 10-12 years maybe. The last time I consolidated was perhaps 7 years ago I removed any PPI on the loan but they did request that it be a secured loan which they did. I think it was between 12000/150000. I paid for a few years then I lost some income and stopped. They
  23. Hi we took out a secured loan with welcome for £10k a few years before 2005 this was when my wife had a brain tumor and we both had to give up work we carried on paying the loan for about 18 months more by this time we owed just over £10,k. we were finding it hard to make payments we spoke to welcome and they agreed to rewrite the loan at the balance it was at with no interest on it we are know paying £92 per month to try and pay it off, they have 3 times applied interest and 3 times i have fought it and got it refunded but i am fed up with them now ri
  24. Hi. I am a new user and would really benefitfrom any help and advice. Thank you. My name is Ian, I am married and with my wifehave been directors of 2 limited companies for many years. Company A for 10years and company B for 5 years. Each company had its own overdrafts with thesame bank and were run simultaneously. Our personal finances are a small mortgage, (40k)a small loan (2k) and a small overdraft (2k) all fully and properly servicedwith no failings or defaults at all. Indeed, these are still being serviced, ontime and as per agreement as we speak. Company A's overdraft was
  25. Hi, I'm hoping someone can give me some advice here. I'm currently trying to help my dad sort out his debts. The main thing he is having problems with is Welcome finance. Him and his then wife took out a loan secured against the house about 7 years ago. they have been making payments every month until a year ago when his wife left. My dad was then left trying to pay the mortage, loan, and all other bills. When the wife stopped paying anything he called Welcome and told them he wouldnt be able to pay the full payments each month but the house was up for
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