Abbey SPO - want to set it aside

[tifo]

Hi,

 

Re : Mortgage arrears £2,000.

 

I have an eviction date for the 8th Feb and have yet not filled in the N244 form as i want to make sure i write what i should.

 

Originally the order was for 14th Dec but i completed a N244, had a hearing and offered £500 lump sum plus £30 a month + mortgage which was accepted.

 

My payment is due on the 3rd of the month but i made it on the 5th (income came on the 4th) of this month.

 

The solicitors applied for the warrant of execution again as i was 2 days late. They're just after me !!!

 

They made it clear last time they want the whole £2k and this time they are saying the same. However, i do not have this cash lying about and friends and family won't lend as they know i have lots of creditors etc.

 

Anyone got any advice? We are a couple with young children under 9.

[Bookworm]

You have 28 threads going, and I can't tell what this latest one relates to.

 

Can you specify so I can try and merge them so everyone can get a clearer picture?

[tifo]

me, 28?

 

i didn't know i had that many ...

 

i thought i had about 5 ....

 

this one is a totally separate issue to any other threads i have as it relates to this specific question and what i should do.

 

after the 8th Feb next week, this thread can be deleted by any Mod.

 

thanks.

[Tellllll]

go to the court today, make an application to have the eviction set aside (probably cost ya £60 if yer not on benefits, otherwise apply for remission of fees). You will get a hearing before the 8th, take along written evidence that the only reason the payment was late was due to receiving late receipt of your money and emphisise that you acted 'with good intent' once the money was received into your account by paying within 24 hours.

 

And don't forget to thank the judge if he finds in your favour!

 

T

 

and also ask the judge to make the payment date the 6th of the month just in case your wages are delayed again. Not an unreasonable request

 

T

[tifo]

ok .... thanks.

 

i was planning on offering them maybe £1000 which is half the arrears, and then take it from there.

 

they have a '3 month arrears' rule before they take court action and as my mortgage is £303, if i only have £909 arrears this falls within that.

 

i'm afraid that if i get the same judge as in Dec she won't be too happy, thats all.

 

just a thought.

[Tellllll]

just put your case to the judge whoever it is.....just say you had an arrangement, it wasn't your fault that it was 24 hours late (take proof- bank statement, mini statement etc) and argue that it is unreasonable for them to issue a warrant for a minor misdemeanor that has since been resolved.

 

Good luck

 

T

[tifo]

its hasn't since been resolved between us ...

 

they insisted since we've issued the warrant we want full payment now.

[Tellllll]

its been 'resolved' on the basis that you have paid the agreed monthly payment albeit two days late.....go file for a 'set aside' at the court immediately and let the judge determine it, not them. You have a good case to argue that they are being 'unreasonable'

 

T

[sequenci]

If you can meet the contractual monthly payment + something towards the arrears you should try and request a suspended possession order.

It was found in Cheltenham & Gloucester v Norgan [1995] that a reasonable amount of time to clear the arrears would be the remainder of the mortgage term.

It is imperative you meet the payment dates as it is progressively more difficult to obtain a SPO if you keep going back to court.

[tifo]

Hi,

 

I took out a loan from Abbey in 1999 which then went into default a few years later and was sold to NCO. The loan had Interest put on as a lump sum of around £1500 at the beginning. The loan was for 5 years.

 

The loan had a PPI payment of £23 pm.

 

Is there anything i can claim back from this PPI as i never had the chance to use it, especially after the account was sold? Secondly, the account only lasted 2 years yet they charged 5 years of interest. Can i ask for 3 years back.

 

It says in the agreement that if i settle early i get a refund of interest minus one month.

[tifo]

anyone?

[alecmac18]

Defo Tifo - there is plenty you can do..

 

1. Are you 100% sure that the interest was paid up front and it was not an upfront PPI premium that was relabelled interest?

 

2. Either way - write to the broker or lender who SOLD you the loan and request a full copy of all the info they hold on you. it is likely that they missold you the PPI in the first place. You should definately be able to get a refund of all the PPI premiums you paid with interest. Definately go after the broker and not the final lender.

 

Was a fact find conducted when you took out PPI? Were you a suitable candidate for PPI? Self-employed, already had cover etc... if that was the situation then you have likely been missold. Go through T&C's carefully of the PPI policy.

 

- If interest was added upfront then you may still be able to argue misselling - for example - at the time you took the loan out did they offer other loans where the interest was paid monthly and they failed to offer it that option to you. If you ask enough of these type of questions then they will fold and return your money to you.

 

P.S -Use FOS first and indicate that you may take court action if Fos is unsuccessful on your application form. Rememer using FOS is free and allows you to resolve complaint in court if you are not satisfied with outcome. If you go to court first then you cannot use FOS if the court rules against you.

[tifo]

thanks alecmac,

 

It was definitely interest upfront, detailed as 'Contra Interest' and i have a copy of the statement from Abbey. The PPI was a monthly payment.

 

The loan was directly from Abbey so no broker.

 

I was in a well paid job then so not self employed.

 

I think i am due the interest back if not the PPI as the account lasted 28 months on a 48 month term, and their agreement clearly states only 2 months interest charge on early settlement, which this was as it was settled with Abbey when they sold it to a debt agency.

 

Not looking good?

[alecmac18]

Never before have I heard of 'contra interest'. I would clobber them with everything you've got. You have definately got a case for a PPI refund though. Did they assess your demands and needs at the time? Are you in a government job where you are unlikley to be made unemployed? Did you already have PPI elsewhere? Did you employer provide sick pay that overlapped with the PPI cover? Did you feel pressured into taking out PPI cover? Was it (or made to seem through assumptive selling) that taking PPI was necessay to secure the loan?

 

If yes then you have been missold.

 

As for the 'contra interest' ?????? Seriously - what is with that. I work in the industry and I have never ever heard of this or seen it. If it smells like a fish.........were you clear as to the terms of the contract when you took the loan out? Was the effect of contra interest on the balance of the loan made clear to you at outset?

 

If no then missold.

 

I would say you've got a case worth making.

[tifo]

i assume 'Contra Interest' refers to Contractual Interest.

 

There are two initial entries.

 

1. Loan Payout.

 

2. Contra Interest.

 

Total payable : 1 + 2, by installment £xx.xx

 

PPI : £xx.xx per month

 

Total collected by DD : installment £xx.xx + PPI £xx.xx

[alecmac18]

Well - I pretty sure you can amke a good case for the PPI - beyond that - I don't know.

[tifo]

OK, thanks.

 

I think i have a good case for the interest back and not the PPI, but i've asked for both so let's see what they say.

[tifo]

i've been a bit behind with Abbey on my mortgage (3 months arrears built up over the year). I last had a repossession order suspended last year in June and agreed to pay arrears off in installments. Sometimes i was late but after the warrant being issued a few times i managed to fight them off and eventually paid all arrears in Feb this year.

 

their POC states that i either pay the total mortgage (some £55k) or leave the house.

 

the solicitor letter i've received states claim issued in respect of arrears (£1200).

 

i have a defence to fill out and send back now.

 

the mortgage does have penalty charges on it (if in arrears or late they charges £35 pm) but i do not want to fight on this at the moment as i would like to keep on their right side. Since they have sent a statement of account i can work out what they've charged.

 

hearing date is in Jan so i'll be able to clear the arrears by then. I'll wait till mid-Dec and once i have paid the arrears off then complete the defence form and state i have done so. The court has stated i can hand this in any time up to the hearing date.

 

any advice?

[Guest DEATHLORD]

Hi;

Well first I may stand coorected but if you pay the arrears in full there is no case, if you inform abbey of this before the hearing there can be no costs.

2ndly there are a number of case where time has been given to pay off arrears in these case's and as long as you show the court that you can do this there is nothing abbey can do.

 

You should question their charges at the hearing and ask where these come from and why they are so much? as this will help your case.

[tifo]

Hi;

Well first I may stand coorected but if you pay the arrears in full there is no case, if you inform abbey of this before the hearing there can be no costs.

2ndly there are a number of case where time has been given to pay off arrears in these case's and as long as you show the court that you can do this there is nothing abbey can do.

 

You should question their charges at the hearing and ask where these come from and why they are so much? as this will help your case.

 

i've got away with making an arrangement in the past and then clearing the arrears but then again, like now, i go into arrears and they issue a claim again. The solicitors they use are complete bar stewards.

 

if i pay off the arrears before the hearing i know they have no case, but as their POC says 1. repossession or 2. pay the total mortgage outstanding with the arrears shown as the amount, i want to make sure i know what they're asking for.

 

if it goes to a hearing, i may bring up the charges and have these taken off the amount owing. Depends on the judge.

[Lula]

tifo, #i have referred this on to someone who knows far more about it that I do

[MARTIN3030]

I think it would benefit moving to the Mortgage threads with a title change.

I am not well up on this to be honest but know there are people here who are.

[Bona]

A lot of claims have that you give possesson and they ask for judgement for the whole arreas, you need to go to court saying you have paid of all the arreas make sure Abby know they have been paid otherwise they will send a solicitor and you will be in arreas again with the costs. if the Judge agrees that its all paid up you must get him to dismiss the whole action not just the application if he does that they will have to start again if you get behind

[rory32]

From the mortgages FAQ sticky

Under s8 Administration of Justice Act 1973 in exercising the powers under s.36(2)(b) the court only has to consider the sums payable in arrears not any term which may render the full amount repayable.

 

What amounts to a reasonable period will depend on the circumstances of the case and can include the whole remaining term of the mortgage as occurred in Cheltenham & Gloucester v Norgan. This case also stated the factors the court will take into account when deciding what is reasonable:

 

Ability to make payments now and in the future

Likely duration of financial difficulty

Reason for arrears

The period of agreement remaining

 

So basically if you can show you can pay off the arrears over the remaining period the court will not order possession.

 

Further info on mortgage arrears can be found here:

 

http://www.bdl.org.uk/images/bdl01_e...eArrears. doc

[tifo]

A lot of claims have that you give possesson and they ask for judgement for the whole arreas, you need to go to court saying you have paid of all the arreas make sure Abby know they have been paid otherwise they will send a solicitor and you will be in arreas again with the costs. if the Judge agrees that its all paid up you must get him to dismiss the whole action not just the application if he does that they will have to start again if you get behind

 

This is what happened before. I paid all the arrears on the day of an eviction notice in Feb and the judge revoked the order as their solicitor informed him that i had made payment. That's why they now have to issue a claim again to get another one.