Threat of Reposession from First Plus Solicitors **SUSPENDED**

[Ell-enn]

Hi there, it depends whether you can afford a lump sum? it's not up to the lender to decide whether your offer is reasonable - it's the judge who will decide that and he has the power to say how long the arrears repayment term should be. In any case, it's unlikely that you do owe £10k as there will have been charges added in. You won't know how much till you get the statement you have asked for in the letter.

[Worried6]

Thanks for coming through to me.

I am a bit confused because the way the solicitor put it was if my offer was acceptable to FirstPlus then they would apply for a suspended order otherwise they would be pushing for a full possession order.

I suppose i'm thinking that I want them to agree a payment proposal so it should look as attractive as possible to them. I don't have a lump sum but a friend would lend me some money if it helped. I definately want to repay the debt.

Do you think if they refuse any proposal I make that they will then proceed to court looking for a full possession order that I will have to defend?

It has struck me that FP can set the bar as high as they like on this.

 

Thanks Again

[Worried6]

Thanks for coming through to me.

I am a bit confused because the way the solicitor put it was if my offer was acceptable to FirstPlus then they would apply for a suspended order otherwise they would be pushing for a full possession order.

I suppose i'm thinking that I want them to agree a payment proposal so it should look as attractive as possible to them. I don't have a lump sum but a friend would lend me some money if it helped. I definately want to repay the debt.

Do you think if they refuse any proposal I make that they will then proceed to court looking for a full possession order that I will have to defend?

It has struck me that FP can set the bar as high as they like on this.

 

Thanks Again

[Ell-enn]

A mistake people often make is in offering a payment proposal that they think the lender wants to hear - rather than one they can afford. They usually end up in the same situation a few months down the line because they struggle to keep to the arrangement.

 

It's best to make a realistic proposal and one you think you could keep to. If you borrowed money from your friend would you be able to pay it back and also keep making the monthly payments?

[Ell-enn]

A mistake people often make is in offering a payment proposal that they think the lender wants to hear - rather than one they can afford. They usually end up in the same situation a few months down the line because they struggle to keep to the arrangement.

 

It's best to make a realistic proposal and one you think you could keep to. If you borrowed money from your friend would you be able to pay it back and also keep making the monthly payments?

[Worried6]

Thats what I'm doing so thank you for the advice.

Do you think it likely that they will reject an offer and push for full possession?

[Worried6]

Thats what I'm doing so thank you for the advice.

Do you think it likely that they will reject an offer and push for full possession?

[Ell-enn]

It's very unlikely that a judge would order possession at the first time of asking - also, if your main mortgage is up to date that will go in your favour. Get the letter off to them asap and lets see what they say - then we'll know what we have to deal with.

[Ell-enn]

It's very unlikely that a judge would order possession at the first time of asking - also, if your main mortgage is up to date that will go in your favour. Get the letter off to them asap and lets see what they say - then we'll know what we have to deal with.

[Worried6]

Thanks again I'm sorry to be a pain and ask the same thing over and over again. I'll try and take one step at a time.

Maybe I should concentrate my mind on my work for a while as I am going to be very dependent on it.

 

Be in touch

W6

[Worried6]

Thanks again I'm sorry to be a pain and ask the same thing over and over again. I'll try and take one step at a time.

Maybe I should concentrate my mind on my work for a while as I am going to be very dependent on it.

 

Be in touch

W6

[Ell-enn]

It's only natural that your mind will flick from one scenario to another - it's a very stressful situation to be in. Please don't be afraid to ask questions (even if it's the same ones again) - we understand how you must be feeling and you will get plenty of support from the folks on this site.

 

As I said, lets see what response you get to their letter - you need to get it sent asap (special delivery).

[Ell-enn]

It's only natural that your mind will flick from one scenario to another - it's a very stressful situation to be in. Please don't be afraid to ask questions (even if it's the same ones again) - we understand how you must be feeling and you will get plenty of support from the folks on this site.

 

As I said, lets see what response you get to their letter - you need to get it sent asap (special delivery).

[Worried6]

I really appreciate that - thanks again

[Worried6]

I really appreciate that - thanks again

[Worried6]

Sorry last question today - if I make an offer of a lump sum as part of my payment proposal do I have to send the money at the same time?

[Worried6]

Sorry last question today - if I make an offer of a lump sum as part of my payment proposal do I have to send the money at the same time?

[Ell-enn]

No, you make the offer first in the letter and see what happens.

[Ell-enn]

No, you make the offer first in the letter and see what happens.

[Worried6]

Cheers

[Worried6]

Cheers

[Worried6]

Hi

 

Just a quick update. I deleivered the I&E Form plus my proposal to pay the arrears to the solicitors office by hand by the deadline Wednesday 4th. I prepared a receipt and have got it signed and stamped.

I also sent the letters to FP - the I&E, the proposal and a request for a breakdown of the arrears figure. These went Special Delivery they and are due for delivery today.

My proposal was - £1000 lump sum followed up with standard monthly repayment plus an extra £100 per month going forwards.

I am thinking now maybe I shuold just send the £1000 to FP anyway as a show of good faith? What do you think?

This waiting is driving me mad.

 

W6

[Worried6]

Hi

 

Just a quick update. I deleivered the I&E Form plus my proposal to pay the arrears to the solicitors office by hand by the deadline Wednesday 4th. I prepared a receipt and have got it signed and stamped.

I also sent the letters to FP - the I&E, the proposal and a request for a breakdown of the arrears figure. These went Special Delivery they and are due for delivery today.

My proposal was - £1000 lump sum followed up with standard monthly repayment plus an extra £100 per month going forwards.

I am thinking now maybe I shuold just send the £1000 to FP anyway as a show of good faith? What do you think?

This waiting is driving me mad.

 

W6

[Ell-enn]

I wouldn't send the money just yet. Wait for confirmation that they have accepted your proposal.

[Ell-enn]

I wouldn't send the money just yet. Wait for confirmation that they have accepted your proposal.