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Found 22 results

  1. Hello Try to be brief. had a ltd company back in 2005 with an overdraft linked with a personal guarantee. The company is now dissolved and Lloyds obtained a CCJ against me for the bank overdraft of £7900. I did not know about this until I searched Land Registry and saw a charging order on the property. The charging order was dated 2009 I contacted Lloyds who inform me that they no longer have the debt as they sold it and passed liability first to Hillsden and then to Cabot and lloyds. I have requested from lloyds all the copies of the original loan details, Ts&Cs etc. They have refused to pass on these documents as i am "Not Entltled" to these documents as the company does not exist. I have had no communication or updates from Cabot. Lloyds say that I must ask Cabot to release the charging order although in the name of Lloyds. Is all this correct? Any advice appreciated
  2. Could someone give me some advice my mortgage is outstanding around 30k and I have positive equity in my home. I am reaching near pension age and currently claiming ESA. If I decide to take out equity release to soley pay off my mortgage would my benefits be stopped. I am in a catch 22 situation what to do and am worried sick. I am under going cancer treatment and dont need this on top. As I would get one payout of say 30k from the scheme to solely pay to keep my house over my head would they stop my benefits. Or is it if they spread the 30K in instalments and treated as income if I was gong to spend it on OTHER things would they only stopped it because of this. REALLY NEED GOOD SOUND ADVICE PLEASE! I AM WORRIED SICK
  3. Hello, Im currently claiming ESA. I spoke to an adviser today asking when benefits are released from the system. I asked as I dont want any mistakes with my payment leading up to xmas and wanted to make sure if it was released. The adviser said that It hasnt been released She said if I dont get paid then to call back. I get paid every 2 weeks on a Thursday and thought payments were released monday mornings for payments on Thursdays? I called around 4pm if thats any help. Does anyone know when ESA payments are usually released for payments on a Thursday please? Thank you.
  4. Security researchers have put a pompous computer criminal in their rightful place after releasing the decryption keys for their ransomware. Lawrence Abrams of Bleeping Computer writes that the ransomware, which was released last week, encrypts users' files using AES encryption, appends the .LOCKED extension to all files, and demands that victims pay a fee of 0.5 BTC (approximately US $210) in exchange for the decryption key. All things considered, a pretty standard piece of malware... "You'll never be able to find me. Police will never be able to find me. Go ahead and try them if you like, but don't expect your data back. They will be concerned about helping the community, not with helping you meet your deadline. If they say they need to keep your desktop for a few days, well lol, you probably won't be seeing your machine again soon, let alone your data. I've been doing this for five years now and haven't been caught yet." "...Just be thankful that it wasn't worse. I could have asked for more money. I could have been working for ISIS and saving that money to behead children. I could have been a mean SOB and just destroyed your data outright. Am I those things? No. I just need the money to live off of (true story) and don't care at all about the hacker 'community'. So there isn't anyone you will be protecting by sacrificing yourself. I'll just encrypt more people's data to make up for the loss." Full article
  5. Hi all, Hoping somebody may be able to shed some light on my question.. I have a judgment against an individual. I have come to realise his name is misspelt on the judgment. Have been advised by the court to make a formal application to correct this using an N244 form 'Notice Application'. My question really is regarding what court fee I am supposed to pay. Ive read the official fee guide but it doesn't make it very clear regarding this type of application. Any thoughts? Ive already emailed the courts to ask but thought somebody may have the answer on here. Thanks in advance
  6. Hi, After some advice if anyone can help. It's very complicated - well, at least it is to me as I'm totally out of my depth! I'll try to be brief... Back in 2013 I was on JSA and totally, brutally, skint. I had a small pension with Standard Life, the current value at the time was 10k. I received a cold-call from a company offering me a way to transfer my pension and release 20% of the value immediately. I was 38 at the time and even I knew that this was probably a bit dodgy as 55 seemed to be the only age this was allowed. But because I was so poor I figured that £2k now and worry about the 18k in 17 years time! The fees they charged me were horrendous, but I got £1780 and to be honest it saved my life. Fast forward two years and I had a phone call from a genuinely nice guy at HMRC asking me why I hadn't filed tax returns for my "company"! Long story short, this pension release firm had set up a holding company for me and transferred my pension funds to it, they then bought £8k worth of shares in some crazy business - I had no knowledge about any of this. The guy at HMRC basically said, "don't worry, we come across mug-punters like you all the time, your only crime is being a thick idiot, but we will come after you for 40% tax on the full 10k unless you transfer the funds into a proper SSCP" ? I've got in contact with the original firm which handled the paperwork (interestingly it's not the same company which cold-called me - they were just acting as an introducer for their commission). Again, to be fair, this firm who handled the paperwork have got back to me and said there's still about £900 my "fictitious" (to me) holding company, and the 8k shares are real. So, I've got the original share certificate coming from the business I "bought" 8k shares in, and the firm have promised to send me a check for the £900 once "they have concluded business with HMRC as they've deregulated your small stakeholder pension fund". I hope the above makes sense, as it barely does to me. I guess my question is, IF I get sent a cheque for £900, and IF these shares turn out to be worth more than the paper they're written on and I sell them, then do I need to tell HMRC and pay 40% tax, or do I wait for them to ask for it in the fullness of time. I'm still on JSA. Thanks if anyone takes the time to make sense of the above. And please feel free to ask me more questions - I'll answer to the best of my ability.
  7. Hi, In September 2014, I filed for Bankruptcy. Recently the Insolvency Practitioner arranged a House Valuation and has now sent me a letter requesting that I pay £26 k as this is the equty in the property. The house is in my sole name. I am working full time and have just enough money to keep my head above water although may be able ot find £50 or £100 per month by cutting down more if I have to although it is so tight My plan eventually was to try and sell the property a few years down the line for a smaller more affordable one. I am only paying interest only on the house and so will never own it as it stands. I have two teenage kids.My questions are as follows and I will try to keep this short: 1) Can I request a re-valuation? With all the issues worng with this property and comparing to others in my area, I fail to see how they have vauled it so high. 2) Can I make an offer below the £26k? And if so, what are they likley to take? For example, if I offered £1,000 would this be laughed at or will they take £5k or £10k, or any other amount? Like 50% for example? Anyone any thoughts on this at all? 3) What will happen if I can't offer anything? Will the house just then be re-possessed or will they just ask me to sell it? 4) If I do nothing how long is it before anything happens? They have given me 14 days to respond to their request. Thanks for your anticipated help JJ
  8. My mother took out an equity release scheme with Aviva 13 years for 81k.... with an interest rate of 8.5% compound, and an early repayment clause linked to gilts. She has realised that if she maintains this, in another 10 years, she will effectively be destitute as the interest will take ALL of the equity in her home, her only asset. She therefore wishes to repay it early and Aviva are now seeking, in addition to the exorbitant interest accrued over the years a 62k early repayment/payment clause... therefore to settle this debt, she must now repay 294k or thereabouts. She did not have any IFA advice at the time, and we have approached/complained to Aviva already but to no joy. Can anyone now assist us as to how we should proceed.. ... this penalty clause is exorbitant... it is said to compensate Aviva for what they stand to lose, as they look at the scheme lasting 28 years. This however is not true because even after 28 years they seek a repayment fee of 50% of the original loan (if the gilts maintain the same degree of fall as they have today), in my mother's case 40k... . after charging interest that will have accrued to over 700k! Any help/advice will be gratefully received. thanks
  9. My friend’s tenancy agreement ended at the end of June and she vacated the property, fulfilling all contractual obligations for professional cleaning and returning keys. The circa £800 deposit is held with the DPS and my friend has still not had any of it returned due to the landlord disputing £70. After my friend moved out the landlord claimed costs for sending 2 x letters @ £25. Unreasonably these letters were sent on consecutive days. One regarding rent being 3 days late (the first time rent was ever late and it was paid within that week). The second letter was because the landlord had tried to enter the property to show a new tenant, without permission, and the keys were in the other side of the locked door, which prevented her entering. The landlord also claims she needed to paint a coloured wall and was charging £20 for paint. The wall was this colour when the landlord purchased the property and painted by my friend with permission from the previous landlord. As background, the landlord purchased the property with my friend as a tenant last year and has been very difficult. My friend was a good tenant and left the property in excellent condition. However problems escalated towards the end of the agreement when the landlord began entering the property without permission and refusing to leave, culminating in my friend calling the police. Since this time the landlord has become increasingly hostile and made numerous threats to charge for various things which really have no standing. Due to this £70 dispute the landlord has refused to release any part of the undisputed deposit despite numerous requests over the last few weeks. The landlord refuses to enter into any dispute process using DPS and this is causing a lot of distress to my friend who is severely short of money and has a 1 year old daughter undergoing major surgery in the next couple of weeks. What options are there now for my friend to get her deposit back?
  10. Fame & Fortune: Engelbert Humperdinck, the Sixties singer, on dealing with money troubles after tuberculosis How did your childhood influence your work ethic and attitude towards money? I was brought up in India until I was about 10 years old. My father was in the British Army. We had a very comfortable lifestyle. We then returned to the UK, to Leicester. I left school at 15 and, at my father’s behest, undertook an apprenticeship as an engineer. My first pay packet was 28 shillings, the majority of which I gave to my mother for room and board, and so I lived on five shillings a week. Money was scarce. I then took other work in order to support my ambitions to become a musician – my mother had a powerful operatic voice and was a proficient violinist although she never sang professionally, and I’d started to play the saxophone when I was 11. My father was a very disciplined man and he taught me to work hard and to go and make something of my life. By my mid to late teens, I realised I wanted to sing rather than play an instrument and started working in little clubs at weekends. As I didn’t raise enough money in the week to buy myself clothes I got myself a better job. I was very determined to make my singing career happen. More: http://www.telegraph.co.uk/finance/personalfinance/fameandfortune/10772897/Engelbert-Humperdinck-Release-Me-released-me-from-debts.html
  11. Hi everyone. I am a part time motor trader, and bought a van to sell to a friend. Said friend then decided he didn't want it, and I had to keep the van near my house. Now, I KNOW I am at fault, I parked the van on the road without it being taxed. Long story short, a neighbour reported us. At 5pm on the 17th December, I drove past and saw the van had been clamped, with a DVLA flyer on. The leaflet explained there was a £100 release fee, and I also had to produce a valid tax disk. The following morning at 9am, I taxed the vehicle, and paid a £100 release fee to have the clamp removed. Fast forward to earlier this week, I received a letter from the DVLA, stating that said van was seen and reported at 15.59 on 17/12/2013, as being kept on a road whilst unlicensed. "This remains an offence even if the vehicle is subsequently licensed. This is separate to the fees paid to the Agency's wheel-clamping contractors who clamped/impounded the vehicle." I now need to fill in a form giving information as to who was keeping the vehicle at the said time. "Failure to provide this information is an offence and a court may impose a maximum fine of £1000, if you do not supply the information requested." There is no indication on the letter as to how much the fine will be. There was no reference when the van was clamped, that the £100 release fee wasn't the end of the story. Apparently, the clamp wasn't the full punishment. I called 2 DVLA numbers, to be told that no one can explain anything about the situation to me, nor help me with my query whatsoever. "You have 2 options, pay the fine, or appeal." When I asked how much the fine would be, no one knew, and I just had the previous sentence repeated to me. Can someone explain my rights to me please? Or someone who has gone through this themselves. I was punished by the clamp. I paid £100 to have it released. How on Earth am I know being asked for more money? Thank you.
  12. Guys, I'm going into hospital tomorrow for a Carpal Tunnel Release operation. Have any of you had these procedure, would like to know what to expect. Boris
  13. Leading economist Ros Altmann argued in this space yesterday that equity release providers charge too much to unlock wealth in bricks and mortar for older homeowners who are short of cash – but lenders claim her analysis is unfair. For example, while some equity release schemes – also known as home income plans – charge more than 7pc per annum, or double conventional mortgage costs, it is now possible for homeowners aged over 75 to borrow at 5pc without having to pay any interest before they die or leave the property. However, even at that lower rate of interest a debt will double in size in less than 15 years when interest is allowed to accumulate unpaid, as is the case with most equity release schemes. At 7pc, a debt will double in just over a decade. Dr Altmann, a Governor of the London School of Economics, is critical of high costs. She said: “Most equity release schemes do not deliver good value. “Older people have saved, through workplace pensions and other means, but the returns have often been disappointing.” Nigel Waterson, chairman of the Equity Release Council (ERC), hit back: “Critics of equity release often claim it is more expensive than a ‘bog standard’ mortgage, yet in the same breath demand safeguards for the consumer. They miss the hugely important point that comprehensive safeguards – as ensured by dealing with a member of the ERC – come at a cost. “Equity release is a practical way to release equity tied up in a property without having to move. Retaining the right of tenure is the primary appeal for many, as down-sizing involves considerable emotional and physical upheaval, as well as significant costs – so it is understandably seen as a measure of last resort.” The ERC’s code of practice includes a “no negative equity guarantee”, which means borrowers will never owe more than the value of their property. There is no such guarantee with conventional mortgages. Equity release schemes offered by ERC members also guarantee borrowers the freedom to move to another property if they wish, without being subject to any financial penalty. That might prove very valuable if an older person or couple’s circumstances change – perhaps through frailty – and they need to move to a smaller property; for example, without a garden. It is important to keep a close on the detail of different equity release schemes. For example, the 5pc deal mentioned above is a variable rate – so costs could rise – and it is offered by Holmesdale Building Society, which is not a member of the ERC. So risk averse borrowers might prefer slightly more for fixed rate schemes offered by ERC members – such as Just Retirement’s 5.74pc deal.Mr Waterson added: “Every provider member of the ERC has to abide by our code of conduct, which ensures that customers will be provided with an accessible and easy-to-understand explanation of any equity release plan that they may potentially take – including the limits and benefits as well as any obligations. They will also have independent sign-off by a solicitor. “Many people have the best intentions when it comes to planning for retirement, but rising living costs and other financial pressures are making it harder to amass an adequate savings pot. A person’s home is often their biggest asset and equity from it can be used for many purposes in later life: for example, funding travel or home improvements, paying off debts like an interest-only mortgage, meeting care costs or helping a family member to get a foot on the property ladder.” Similarly, Steve Wilkie, a director Responsible Equity Release, claimed: “The difficulty the equity release market has faced shaking off the tag of being an expensive option, is that equity release plans are often compared with regular mortgages. “This is an unfair comparison for two reasons; first, the interest rate on an equity release plan can be fixed for your lifetime, whereas with most regular mortgages the fixed length of time is two, three or five years. “Second, an equity release doesn’t carry the same repossession risk as a mortgage because there are no monthly repayments to miss. “Selling up and renting is an option too, although we see a number of clients who bought their property for £20,000 and it is now worth £250,000. Are these people going to be keen to step off the property ladder?” “Interest rates for equity release are at record lows, with a 5.57pc fixed rate available. At this rate, the amount owed will double every 13 years, but over the last 13 years, house prices have gone up by more than 141pc. “So, assuming property prices don’t move at all, if you take £20,000 of equity from your £200,000 home today, in year 13 you would still have £160,000 of equity.” Dean Mirfin, a director of Key Retirement Solutions, added: “If you take all of these factors into account, for a client borrowing £50,000 against a property value of £250,000, the best ERC member equity release rate is 5.74pc fixed for life from Just Retirement. “By comparison, to the best serviceable or interest payable mortgage rate available for say 15 years would be this is 4.99pc from Manchester Building Society. So for not making any repayments, a fixed rate for an unknown period of time and the no negative equity guarantee, the customer pays an rate just 0.75pc higher.” In an ideal world, older homeowners would have plenty of cash and no need to borrow. But reality falls far short of that for many people after a dismal decade for the stock market and pension savings. So, there can be no doubt the problem is real enough but is equity release a fair deal or an excessively expensive solution? You decide. Link: http://blogs.telegraph.co.uk/finance/ianmcowie/100023399/whose-house-is-it-anyway-the-equity-release-empire-strikes-back/
  14. Hi, Found out today BT are showing me as defaulting in 2009 but this is rubbish the only thing I did then was leave them as they changed the terms of their contracts or something and their chief executive said they would not hold unhappy customers to their contractual terms. Does any one know what this was I have googled but can not find it. Regards, Sean Addison
  15. Hello all, It's been a while since I've needed help, I'm so confused:- I have several pensions, they are very small occupational and some private pensions that I have paid into. I searched for similar post but keep going round in circles;- OK I have five small pensions that I stopped paying into about 12 years ago,, during a move Lost all details, however the good news is that the pension have moved to different companies, three I have tracked down, the other two are causing me grief, I originally took the pensions with Colonial Mutual, who then went from a Mutual company to a Limited company, I have sort of tracked down who is supposed to be administering these two pension and I'm told that they can find no details. and suggested that I write to another branch, the company is Phoenix Life, original contact was with their Welwyn Garden City Office, the wrote back saying they have no records of my two pension funds, and told me to write to their Romford Branch, this I did, then got a letter from Romford saying they have no records, and told me to write to Britannic assurance and Scottish Mutual in Glasgow, I wrote to both companies a month ago, and still haven't heard anything,I'm concerned that these two funds have disappeared! The reason that I'm chasing is A tricky one, I was made redundant 2 years ago, and of course this has eaten away at my savings so now, I want to release some cash from my pensions to pay off debts and all finance agreements, this will leave me clear to at least have some sort of normality. One group of pensions is worth 24k and I've been told that I can leave it with a pension of £127/p.a., buy annuity, draw a tax free lump sum, and have a pension of £122/p.a, I rather draw the lot as 120quid a year is not worth a lot, and it would be more beneficial to pay off debts and avoid the 1200/p.a interest. Help would be very much appreciated Kind regards A confused Ken
  16. Just out of interest, reading all the various posts on PPC's getting info from DVLA, is it possible for the RK to register with DVLA that under, say, Data Protection Act, they withdraw all rights for DVLA to provide information to non official bodies (ie Police, Local/National Govt)? Seem to recall that on the back of a V5(?) there are notes on information promulgation Just curious
  17. Financial comparison website Moneyfacts.co.uk has partnered with Just Retirements Solutions to launch an equity release advice service. The providers panel is made up of Aviva, Bridgewater, Just Retirement Limited and Stonehaven. Just Retirement Solutions Group External Affairs and Customer Insight Director Stephen Lowe says: “As the ‘baby boom’ generation move into retirement, many will need to find ways to supplement their pension income or pass on money. More and more people will be looking at how best to use the wealth tied up in their homes. “We are delighted to partner with Moneyfacts.co.uk which has an enviable reputation for providing consumers with detailed, up-to-date financial information. Equity release is a complex and sensitive area and this partnership gives customers access to professional advice and expertise to make sure they fully understand their options and receive tailored advice.” Moneyfacts Group head of pensions Richard Eagling says: “Releasing equity from your home is a big decision that needs careful consideration of the different options available, something that can only be achieved through expert advice. For such an important choice, we are glad to be teaming up with Just Retirement Solutions to offer this comprehensive service to our customers.” Link; http://www.mortgagestrategy.co.uk/moneyfacts-launches-equity-release-advice-service/1059088.article
  18. I live in my late parents’ house and I’m mortgage free. My parents took out an equity release loan on the house for around £15,000, repayable on the death of the surviving partner. Interest wasn’t charged but the final sum due takes a percentage (33%?) of the appreciated value of the property (plus the original £15,000). The last survivor died around four years ago. I have not informed the lender. I am 55 years old and self-employed. I cannot afford to pay off what may be due , and I’m worried. What is the position? Thank you in anticipation.
  19. Hi Press release by CAB on the Goverments decision to give OFT powers to suspend consumer credit licenses with immediate effect. http://www.citizensadvice.org.uk/press_20120719 Interesting
  20. Press releases 2012 - Mr Superloan stripped of licence 57/12 4 July 2012 'Mr Superloan', a Sunderland-based business, can no longer trade as a home collected money lender following OFT enforcement action. Kevin Duke, trading as Mr Superloan, was found unfit to hold a consumer credit licence by the OFT on 19 December, after he failed to fully disclose his history of criminal convictions on his licence application. Mr Duke appealed the OFT decision, but the First-tier Tribunal - the independent judicial body that rules on OFT appeals - refused the appeal on 29 May 2012. In the words of the Tribunal: 'Mr Duke failed to tell the whole truth, and did so knowingly and recklessly.' A 28-day appeal period concluded on 27 June 2012. Mr Duke is now banned from engaging in any home collected credit business and has until 31 July 2012 to wind down his business. David Fisher, OFT Director of Consumer Credit, said: 'We will take action to protect consumers against anyone who fails to disclose relevant information about criminal convictions on their licence applications. Mr Duke collected money by visiting people's homes and he failed to demonstrate the integrity we require of someone in that position.' NOTES The First-tier Tribunal (Consumer Credit) forms part of the General Regulatory Chamber of the First-tier Tribunal. It is administered by the Tribunals Service, an agency of the Ministry of Justice. See First -tier Tribunal decisions (CCA/2012/0001). The role of the First-tier Tribunal (Consumer Credit) is to hear and decide appeals against decisions of the Office of Fair Trading relating to: Licensing decisions of the Office of Fair Trading made under the Consumer Credit Act 1974, the imposition of requirements or a civil penalty on licensees under the Consumer Credit Act 1974 and the refusal to register, cancellation of registration, or imposition of a penalty under the Money Laundering Regulations 2007. Link: http://www.oft.gov.uk/news-and-updates/press/2012/57-12
  21. Our 'lovely' neighbours one night decided to back their car into both of our cars in September 2011 since then we have been battling with our insurance company Direct line and their insurance company to settle this claim. In October my car insurance was due to be renewed however due to the pending claim I could not afford the renewal with DL so had to change to another insurance company. In Feb/March the neighbours insurance company finally admitted liability and I have received payment for the excess and also personal items however despite admitting liability it appears they have not made payment to DL and as a result DL still 9 months on will not provide me with proof of my no claims stating that they cannot do this until the claim is closed unless I am an existing customer of theirs and in that case they can renew a policy and give me a no claims discount! DL are in the process of issuing legal action however this could take months and my car insurance will be up for renewal in 3 months time and I will again have to pay an excesssive amount to keep my 51 plate car on the road. I also will probably not be able to claim anything back from my current insurer for overpaying this year. PLease can someone help as the accident was in September and still I have this stress? Surely there must be something I can do to get this resolved????
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