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    • St Greta would love a canal with solar powered narrowboats.........
    • Name of the Claimant ? Erudio Student Loans Ltd   Date of issue – 9th Jan 2020   Particulars of Claim   What is the claim for – the reason they have issued the claim? 1.The claimant claims £10,100 for monies due from the defendant   2.The debt was pursuant to a regulated agreement(s) between the defendant and The Student Loans Comedy Limited. Each agreement had an individual account number as follows  XXX XXX XXX XXX   3.The defendant failed to make payments as per the terms resulting in the agreements being terminated. Notice of such is served by a Default or Termination Notice subject to the terms of the agreements.   4. The debt was assigned to the claimant on XX/XX/2013, with a notice provided to the Defendant. A new master reference number XXX was also applied upon assignment 5. The claimant has complied with the Pre Action Protocol for Debt claims.   What is the total value of the claim? £10,100  Have you received prior notice of a claim being issued pursuant to paragraph 3 of the PAPDC ( Pre Action Protocol) ? No    Have you changed your address since the time at which the debt referred to in the claim was allegedly incurred? Yes, possibly more than once. This claim form has been sent to my home address   Did you inform the claimant of your change of address? No, I have never heard of Erudio before I received this claim form.  I did notify The Student Loans Company Ltd about my address change though. Is the claim for - a Bank Account (Overdraft) or credit card or loan or catalogue or mobile phone account? Student Loans   When did you enter into the original agreement before or after April 2007 ? Before.   Do you recall how you entered into the agreement...On line /In branch/By post ? I think I signed the forms in person, although it would have been about 25 years ago so I can't be positive.   Is the debt showing on your credit reference files (Experian/ Equifax /Etc...) ? No   Has the claim been issued by the original creditor or was the account assigned and it is the Debt purchaser who has issued the claim. It says that the debt was assigned.   Were you aware the account had been assigned – did you receive a Notice of Assignment? No, I have never received any notice of assignment   Did you receive a Default Notice from the original creditor? Not to my knowledge   Have you been receiving statutory notices headed “Notice of Sums in Arrears”  or " Notice of Arrears "– at least once a year ? Not that I remember   Why did you cease payments? I always returned Deferrment notices to The Student Loans Company as I never earned enough to have to start repaying these loans. I still haven't. But the SLC stopped sending deferment notices to me, and in fact stopped sending anything to me. I don't know when the last time I had any communication from them.   What was the date of your last payment? I've never paid     Was there a dispute with the original creditor that remains unresolved? Not to my knowledge    Did you communicate any financial problems to the original creditor and make any attempt to enter into a debt management plan? No I did not   This is for a huge amount of money, and I've never heard of Erudio before I received this. I do sometimes have problems with my post at my home address.  I really appreciate all help that anyone can give with this. My ideal outcome on this would be that they drop the court action and I send them Deferment notices for the future.
    • Hi Andy,   We were never notified with regards to this holiday no communication after they went into Admin. last week was the first time we heard anything at all and it was from RC themselves. I called them last night and explained everything and it looks like everything going to be okay we will only  lose the deposit which is a small price to pay I guess compared to £2000 I will update if I hear any more.   thank you Hb and Andy both for your  help   regards otb
    • yep, the UK is a bumpy twisty crowded ISLAND whos layout and transport infrastructure is best suited to Sea and Road. The rivers are generally to narrow and shallow, let alone steep, and the flat plains are simply to small and crowded to house a big rail system like Europe, China, India, Africa, Australia ............   So its smaller lots via road or ship em to the nearest port   Our railways are narrow and a bit cramped because they NEED to be. Canals were our infrastructure   When putting in just a couple hundred miles of track disrupts half the country for a decade or more, and costs a not so small nations national debt - its the wrong choice.
    • Yes HS2 is  a waste of space as a half hearted  implementation.
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Sellessal

Repossession at end of mortgage term.

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My husband and I currently have an interest-only mortgage with Future Mortgages which ends in September 2013. Both of us had good jobs but 2007 I had a bad fall at work and eventually lost my job as I was unable to sit at a computer all day. I am still on Incapacity Benefit and Industrial Accident benefit. In 2008 my husband was made redundant as was told by the Jobcentre that he was wasting his time looking for employment. As my husband had a small private pension he took this early to try to continue paying our bills. As a result of this we were told we did not qualify for any benefits as we had £10 a month too much coming in.

Our endowment insurance turned out not to be worth the paper it was written on and due to our lack of finances we were unable to pay it. Our mortgage is now due to be settled with an outstanding amount of £250,000. We believed that we would be able to sell the house and repay the debt with no problem as it was valued at £300,000 two years ago. It is now worth less than the mortgage. We have considered handing the keys back to the mortgage company but do not know what the consequences would be, We could try to sell the house at below its value and still owe the outstanding balance. As we will both be on state pension next year I don't know how we will ever be able to repay this. Any advice would be most welcome.

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Very sad to lose your home at this late hour, what type of property is it? I have a number of ideas for you, will try and offer some help. Do not hand the keys back.

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Its a four bedroomed detached house. Once our family home but now only the two of us. Any suggestions would be appreciated.

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you should rent it out, in my area it would gain £1400pm - cheapest place to live is on a mobile caravan site, nice holiday for a year or 2, savings could then have you abroad for the winter, when i'm in my twilight i'm going to think like the birds :)

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Thanks Tuttle for the advice but I was really looking for something a bit more constructive, lik the legal implications and what would happen after repossession.

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Thanks Tuttle for the advice but I was really looking for something a bit more constructive, lik the legal implications and what would happen after repossession.

It does take some time before a repossession happens, I would seriously look at your income and what you would gain for selling everything, will your children help and contribute towards the mortgage? afterwards they would just pursue the debt, but you could go bankrupt and pay a % in the pound, after 2yrs it would be discharged. So you have a few options, moving to a smaller place might make life easier. Hope this helps.

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Have you tried claiming back for a missold endowment policy ?


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Have you tried speaking to the local authority about the possibility of using the mortgage rescue scheme? There are certain criteria to be met, but you may qualify.

 

Handing back the keys is not something you should consider lightly. You will remain responsible for the property and its upkeep, insurance and council tax, until it is sold - so effectively, your outgoings won't change much in relation to the house (the monthly payments will continue to accrue as arrears and will need to be repaid eventually from the sale of the house, or in a shortfall if the house sells for less than the mortgagee is owed). An owner occupied house will sell for more than a repossessed property that is empty, so if you can sell it whilst you are still in it, even if you have to take a cut in price, then that is likely to be a preferable option.

 

If you did choose to undersell the house and you are left with a shortfall, you could negotiate with the mortgagee to accept what the house sells for as a full and final settlement of the debt. The alternative is to make an arrangement to repay any shortfall on a weekly/monthly basis - it may be the case that once you're on pensions they will not think it is worth chasing you for any shortfall.

 

You need face to face advice on the best options for you, so I would suggest you contact your local CAB office and/or the local authority department that deals with the mortgage rescue scheme. They can advise you on what to do next.

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I think the mortage rescue scheme money got used up in 10secs flat, everyone jumped on it, and i bet some fraudsters too.

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I think the mortage rescue scheme money got used up in 10secs flat, everyone jumped on it, and i bet some fraudsters too.

 

Then you'd 'bet' incorrectly. The scheme is woefully underspent and if someone qualifies then it is a fabulous scheme that allows people to stay in their homes.

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