It just gets worse-Debt problems are causing great stress.

[nowayjose]

Hi Cymru, it was last weekend they were home, my eldest boy is home for 2 weeks, but my other son was only home for the weekend... it goes too quickly... Im so proud of them both... my son who is in the Royal Welsh is doing his training... I m dreading the time he has to go to Afganistan.. you see so much on the news... Im having nightmares now... I feel so sorry for families who have lost their sons/brothers/husbands I dont know how they cope??...

[cymruambyth]

Hi, I agree it must be terrible, no words can express the feelings that they go through. All our armed forces do a fantastic job which isn't properly recognised or rewarded. You have to remember that the number who are killed or seriously injured is very small, which although isn't any consolation, may help keep you sane.

C

[applecart]

Sorry to butt in......; you mentioned your mortgage is getting into arrears.... try sending a letter along these lines......,

 

Dear Sirs

Re: Account No xxxxxxxxxxx

I write to acknowledge that the above account is in arrears, and seek your assistance in my effort to keep my home.

My proposal is guided by the principle based FSA Regulations pertaining to Treating Customers Fairly.

 

Considering that my mortgage term has a further XXX years to run, and given that the deposit paid was XXXXXX, (even if you remortgaged - there will be an amount that they took as a deposit) I would like you to consider recent case law in the Cheltenham & Gloucester Building Society v Christina Norgan Court of Appeal 5 December 1995, where it was judged

that 'arrears on an agreement can be repaid over the full period of that agreement, a court not being obliged to set a shorter period.'

 

At the initiation of my mortgage with you I was charged £XXXX as a Higher Lending Charge, (if applicable) which I understand was formerly known as a Mortgage Indemnity Guarantee; a fee that may be used by the lender to purchase an insurance policy designed to protect XXXXXX

(the mortgagee) against loss in the event of me defaulting and ceasing to repay my mortgage.

Had my personal circumstances along with the economy not taken a turn for the worst and I was in a position to clear the arrears in full, please be assured that I would do so.

As my lender governed by the FSA, I would like you to consider the points I have raised in my letter today and see what you can do to work with me rather than against me to clear the arrears and keep my home without threat of eviction and undue financial pressure.

I have noted the information below from the guidelines set by the FSA (MCOB 13.3.2 E(1)(a) for customers in my situation.

A extend the term of the regulated mortgage contract; or

B change the type of the regulated mortgage contract; or

C defer payment of interest due on the regulated mortgage contract or mortgage shortfall debt; or

D treat the payment shortfall as if it was part of the original amount borrowed

I look forward to your terms of practical assistance in keeping within FSA guidelines that will ensure my concerns can be addressed to mutual benefit.

Yours sincerely

I should send this off immediately - and pay what ever amount you can truly afford in the meantime.

 

Hope this helps? : )

[applecart]

Also............... you mentioned being in a fixed rate deal on your mortgage with 5 mths left before you get on the variable rate...

 

7.49% really hurts in the current economy - but take heart from the fact that you only have 5 mths until you get onto a variable rate - you will be on a LIBOR rate I beleive if you are with Kensington? - (it might be worth pushing them to end the 'fixed' term sooner, considering your circumstances)

 

Mortgage rates are at the lowest they have been for years - LIBOR rates have dropped too - so you will make a huge saving (so long as the Bank of England rates stay low for the forseeable future) once your fixed rate ends - your payments could go down.

 

Hope this helps. : )

[nowayjose]

Thanks for that applecart, I was wondering if my mortgage would shoot up at the end of the fixed rate, because I may as well rent if it gets any higher...

 

They are also charging me £50 per month for being over a month in arrears and have done for months.......

 

Thanks

 

NWJx

[applecart]

They do tend to charge extortionate areears fees Nowayjose....

 

But for now.......

 

The main thing though is to try to get the main issues dealt with first - which is to get them to acknowledge their responsibility to assist you stay in your home - the letter I posted, will give them something to chew on and come back to you ideally with some positive feedback....

 

If successful, this will take a huge worry off your shoulders I'm sure : )

 

If I can assist anymore, let me know

[nowayjose]

Ok thanks applecart,

 

NWJ x;)

[cymruambyth]

Hi nwj how are you feeling now?

[nowayjose]

Hi, Cymru, Im not too bad at the mo, been very busy trying to organise my debts (specially my recent car repossession, very interesting, but will have to see what happens there..) quite looking forward to them chasing it up, if the advice I have been given on here is correct, some are through PM just in case their watching you never know:rolleyes:

Ive also been trying to work extra hours but not much happening there.. did less than 25 hours this week, not enough for us all to live on...Ive applied for 2 jobs, one of which I really want, fingers crossed... also in the middle of doing my NVQ in health and social care, so I think its a bad time to start my diet... Im far too stressed!!!

Hope your well and enjoyed the Easter break??

Take care

NWJ xx;)

[cymruambyth]

Hi, you seem to be feeling a bit more positive now, I hope you are.

I've been watching your car repossession, it looks like you may get some luck there......

Fingers crossed for your jobs and if you find a way to motivate yourself to lose weight let me know

We had a lovely Easter, walking on the beach with the dogs; although the weather was nice, now it's hot enough to sunbathe I'm back home:(

Good luck with everything.

C

[babybear39]

Good luck with the job hunting NWJ

[nowayjose]

Thanks both, Im really hoping I will get lucky with a Scheme Managers job at a sheltered housing complex in my local area.. would be a big pay increase for me, Ive had a lot of experience working with the elderley but I think I might be aiming a bit high, but hey.. you never know unless you try??

NWJxx

[babybear39]

Thanks both, Im really hoping I will get lucky with a Scheme Managers job at a sheltered housing complex in my local area.. would be a big pay increase for me, Ive had a lot of experience working with the elderley but I think I might be aiming a bit high, but hey.. you never know unless you try??

NWJxx

 

A good attitude is half the battle, go for it

[hilaryfrances]

good luck with the job, I will have everything crossed for you. At least you are trying to help yourself. Good on you

[nowayjose]

Sent off application form today, closing date 5th May, will be over the moon if I get an interview.. will let you know how I get on, thanks for your support:)

[cymruambyth]

Fingers crossed

[nowayjose]

Im really having a bad day... I feel like Im on a sinking ship... SD received from 1st cred, reminder on my Council tax which I cant pay.. letter from AOL threatening court action. Unplugging my phone to stop DCAs ringing (or ignoring it)

 

Really fed up:(

[babybear39]

Big *hugs* from me

[nowayjose]

Tyvm Bb -x-

[hilaryfrances]

dont let the baskets get you down, we all get days like this, The council tax must be a priority though, give them a ring and expalin your situation and dont forget to tell them you are looking for a better paid job

[nowayjose]

Ive already got an attachment of earnings order on my pay for last years council tax already:(

[babybear39]

Have you checked if you're entitled to any council tax benefit 'cos of your low income? Sorry, I don't know much about CTB.

[nowayjose]

I dont think I am, I sent them an I&E form when they worked out my AoE,

[babybear39]

How much are they taking?

[nowayjose]

It depends on how much I earn, my income varies greatly, this month they only took 30.00 plus 1.00 admin fee and about the same the month before, but they have taken around 125.00 3 months ago..