refund and arrears

[helpasker]

court gave suspension thanks ell

Edited May 16, 2011 by helpasker
spelling error

[helpasker]

thanks for post

Edited May 16, 2011 by helpasker
personal info

[Ell-enn]

What exactly did they say in the letter about how the refund was applied.

 

Are you able to make payments towards the arrears each month on top of the normal monthly payment?

[helpasker]

"we can confirm that we have calculated that your account was overcharged and that we have credited your account by £,including interest.

the refund due has been credited to your account and will be shown as fees and redress on your next statement.Please note,that if you are currently in arrears,this credit will not affect your current arrears position."

 

yes just

 

thanks

[Ell-enn]

OK, I think you need to secure the roof over your head first and get the hearing next week overwith. You can explain the situation to the court and make an offer to pay arrears over a reasonable period of time. You will need to take a statement along to the hearing, I can draft one for you if you need me to. When is the hearing? You say the arrears are £4k - are there any charges included in that figure ?

 

Then when you have that sorted you can start to investigate fully the refund situation.

[helpasker]

thank you ell for advise,i am at court tommorow for restored posession and dont know what i would need as a statement

[Ell-enn]

Do you have a printer at home? If so I can draft a statement for you to hand to the judge in the hearing, advising of the situation and what you are proposing to deal with the arrears.

[Ell-enn]

Hi, ok, I need a little more info:

 

Is the mortgage in joint names?

Do you have any children ?

How much can you afford to pay to the arrears each month in addition to the normal monthly payment?

 

I have affixed a budget sheet to this post - can you please fill it in (it calculates automatically as you enter the figures). You will need to take this with your statement so the judge can see how you will afford to pay the arrears. The amount you can pay towards the arrears is the amount left over after everything else has been accounted for i.e. the amount left over in Box C of the sheet.

Budget Sheet.xls

[Ell-enn]

I have to log off soon - I'll be online from 8.30 in the morning if you still need help with a statement.

[helpasker]

thanks for the template ell,it is a great help and i will use it.

many thanks for going out of your way to advise me as well.

Edited May 16, 2011 by helpasker

[helpasker]

ok thanks

Edited May 16, 2011 by helpasker

[dcahelp]

and? how did it go? Hope you managed to secure your house...

[helpasker]

yes thank you for asking,i especially would like to thank ell for the the fast help and advice that was given to me which i used to at the hearing.

suspended order on condition of payments plus extra.

tricky bit now is another hearing for repo coming up with second charge arrear that is with a sub company of the one i just went to court with.

that one i really do struggle with.i can understand the main mortgage and the way it has been administered etc,but the second charge and the astronomical costs to me because of missed payments over the years really do give a cause for sleepless nights.

just imagine borrowing say 5k,from a company that already holds your main mortgage,which has arrears,so borrow off their other company to clear the arrears,then,as self employed work goes wrong etc,manage to always pay for say 5 years and get back on track,find that they say you now owe 15 thousand pounds.that to me is very very sickening.and very very hard too know what to do about it,because it is interest on the monthly amount that far exceeds the monthly payment.i cannot find any where online that justifies the ballooning loan or indeed anywher online that points to a way of stopping it from getting worse.

thanks for asking. btw,also imagine having paid off 4.5k off that loan then still owe 15k !!!!!!!!!!!

Edited May 20, 2011 by helpasker
spelling

[dcahelp]

that cant be good, surely some of their charges fall under the same category as the unfair charges on a 1st charge mortgage? Wonder if ell could shed some light?

Could you use some of the same arguments on your secured loan as you did on your mortgage court hearing?

[helpasker]

that cant be good, surely some of their charges fall under the same category as the unfair charges on a 1st charge mortgage? Wonder if ell could shed some light?

Could you use some of the same arguments on your secured loan as you did on your mortgage court hearing?

 

no not really,i didnt have an argument about the arrears,i was in arrears end of.what concerns me most is why the charges just build up and up and up so that i can never realistically repay the whole now owned amount.on the second charge.as in it is not equitable as to how the main mortgage did not apply,or at least i dont think they had,vast interest demands applied to the total balance that is now applied to the secured second loan.

[helpasker]

thank you all for advise and guidance,i would like to ask one more question if i may,

 

i can make a payment this month just full amount as per court order,but,

now i have become out of work again within a week of the court order date and the statement of means. so:| will have to wait until i get regular income again,and say make a part payment,in the next month,is that it,all lost ?

they get the property ?

i can make this months payment at end of june,but worry that i wont be able to next month,i have had a letter from the court granting posession if the payment is missed with the extra on top.

sorry to ask advice on this,i i know many are in similar situations and the advisors are very busy,i would just kindly like to ask,what are my options if i cannot meet the next months payment,knowing the mortgage company now hold the aces and will probably not now give anymore time.my self employed self cert mortgage was ok before the credit so called crunch,but now,like many out there,what can we do if work stops and we still have a history of full work ?

Edited June 8, 2011 by helpasker
spelling

[helpasker]

get possesed i supposed,just thought i would ask,thanks.

[dcahelp]

bump

[Ell-enn]

Hi there, you've said you can make June's payment so you have a little breathing space. If you haven't secured any new employment by mid July - write to them and advise of the situation (we can help you with the letter), this will put you in a good position if they do take further action which you would have to defend - it will show the judge that you have communicated with them and not just left the situation.

 

As I said, make June's payment and take it from there - you may be lucky and get a new job fairly quickly.