first plus repossession letter court date

[biscuitmal]

Hi guys,completely new to this, any help would b greatly appreciated

have mtg with end and loan with firstplus,, taken out 2004 (if only I knew back then)

 

Wife and self had managed to run-up quite Lot of credit and were basically robbing peter to pay the dreaded Paul. Convinced by their ad. Rang fp and was given a loan to consolidate

 

SOME of them, not all, as ltv on house wouldn't allow any more (even though the fp loan then took us into neg. Equity. Was told had to take ppi, altho could cancel, so first opportunity I did this to make it more affordable.

 

after reletivy short time realised that this Was unaffordable, ended up having to run up more unsecured debt,aswell as missed payments to fp which then led to us taking out a trust deed over 3years.

 

 

this only covered the unsecure lending.

 

 

during this time, contacted fp to try to arrange upping payments to rectify, and was told To do nothing that dd would increase to do this.

nothing changed apart from a slight increase , which I guess now was interest increase.

 

 

promotion opportunity came up for wife which meant us moving. Took long time for me to find a job south after she move (about 2years). Now been south two n half years renting here whilst paying for mtg n fp (tight but manageable) wife lost job 5months ago! So been managing on her redundancy , but not much left.

 

 

occasionally return to house to try to maintain (400 mile drive) and at weekend found letters from fp saying in court 25jan for repossession! And older letters from November warning of this.

 

 

help cannot offer more as income and exp. Would go against us until she is again working. Can we ask for continuation? If they take house be huge ammount still left to pay n will never be free.

 

 

ps house is in Scotland, and were currently renting and living in England, until can get job back north.

Edited January 11, 2013 by citizenB

[AndyOrch]

Hi Bisuitmal and a warm welcome to CAG

 

Sorry to hear of your predicament....... I have moved your post to the relevant forum were you will get more expert advice.

 

Hope this can be resolved for you.

 

Regards

 

Andy

[biscuitmal]

Hi Bisuitmal and a warm welcome to CAG

 

Sorry to hear of your predicament....... I have moved your post to the relevant forum were you will get more expert advice.

 

Hope this can be resolved for you.

 

Regards

 

Andy

thanks Andy Where do I view any replys? (complete newby here I'm fraid)

[Conniff]

You need to list all your debts and place them in a priority list starting with the Mortgage + arrears and Council Tax then Utilities and living. What you have left over is what you should divide amongst your other debts and write recorded to them making an offer of that.

 

If you can continue paying the mortgage and a reasonable amount off the mortgage arrears, you should be ok.

 

You could do with having a chat to CCCS (now called Stepchange) which is a debt help charity who will advise and can even set up payment arrangements for you.

 

http://www.stepchange.org/?WT.srch=1&WT.mc_id=200001&gclid=CKjynurN3bQCFaTKtAodlDkA-g#

[AndyOrch]

thanks Andy Where do I view any replys? (complete newby here I'm fraid)

 

I have transferred your thread..... just check your User CP ( top right) and of course you will be notified by Email.

 

You may find this thread of interest :-

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?375462-Firstplus-Eversheds-going-for-Repossession-Cannot-afford-full-Monthly-instalment-Urgent-help-Please!!

 

Regards

 

Andy

[biscuitmal]

Further to above, wife claiming job seekers allowance , were bit unsure how all works as never had to claim anything before. Would we be entitled to any assist with mortgage, rent council tax also with me still being employed?

[biscuitmal]

Peking out income and expenditure, could we include wife's monthly ammount she adds from what she has saved from her redundancy money? (wil poss only last another 3 or maybe 4 months but would then allow more time to find job, repairs to house etc)

[Ell-enn]

Hi, how much are the arrears ?

[biscuitmal]

Hi, how much are the arrears ?

heck of a lot, around 20k according to fp :o(. Wife's now waiting to see if needs hysterectomy now also, this is all going to to tip her over the edge. Not sure who or where to turn to right now so little time,and so much to lose. If had time to bring house upto scratch and move everything out and sell it, would poss. Cover everything, (tricky with 800 mile round trip however). Saying that, settlement fig for fp of almost 90k us daunting (loan was 71k over 8years ago)

been paying around 770-800 a month to fp for over 8 years, so even deducting the 20k would mean Wed still paid them over 50k. Orig. Paperwork is found they've ticked to include ppi costing over 17k, although I didn't want, was told had to , but could cancel after loan opened so I did, could this still be included? Payments went down,but don't have any figures, or had any letters or statements for years...until these repossession ones now

Edited January 12, 2013 by biscuitmal

[biscuitmal]

Since wifes redundancy, shouldn't lenders be helping assist and look at reduced ammounts until she's re employed?

_sorry guys, I'm stressing randomly out loud

[biscuitmal]

Don't know where to turn :o(

Stepchange seem to want to do income expend. Leading to budgeting idea, which is always helpful, however cannot see as way out of this problem.

contacted another company also that help in repossession cases but charge initially 350 for a number of hours. However seem to know their stuff re fp. And suggested that even though I canceled the ppi, theyve been known to still include it on loan ( just under 18k) which would almost clear the arrears as well as vastly reduce the interest accrued.

However he also said they only deal cases in England and wales,but since fp based wales could maybe go after them to some degree. However I can't afford to risk 350.if nothing comes from it .

If his theory is correct though, would b great.

however income exp. Currently only my salary and wife's input from saved redundancy would only.make thing affordable afew months (unless she finds employment within.that time)

seem trapped....should b applying for assistance from rbs and fp. To reduce payments whilst she unemployed, however, if show can't afford even higher payments will lose our house

[biscuitmal]

203 months remaining on fp loan, which would be around 120 ish extra a month, if they was to allow to sprread over it? Would have to use monthly input from wife's redundancy money until she again working. Worth asking? Would also allow more time for her to find work again

[Ell-enn]

It's certainly worth writing a letter to them offering payment - you can find sample letter on page 10 of this guide (you need to enter you r own words where there is writing in blue). http://www.consumeractiongroup.co.uk/forum/showthread.php?325527-CAG-guide-Are-you-facing-eviction-or-repossession

 

Make sure you send the letter by special delivery so they get it before the hearing date.

[biscuitmal]

Thankyou :o)

[biscuitmal]

It's certainly worth writing a letter to them offering payment - you can find sample letter on page 10 of this guide (you need to enter you r own words where there is writing in blue). http://www.consumeractiongroup.co.uk/forum/showthread.php?325527-CAG-guide

-Are-you-facing-eviction-or-repossession

 

Make sure you send the letter by special delivery so they get it before the hearing date.

Thanks , would I send to fp or optima (legal firm) ?

[biscuitmal]

Ops..should I ring them with offer? Poss see if stepchange could? Or just send.in post (one week till(court)

[Ell-enn]

Send the letter to FP. Then send a copy to Optima with a covering letter stating " please find affixed copy letter for your information"

[biscuitmal]

Send the letter to FP. Then send a copy to Optima with a covering letter stating " please find affixed copy letter for your information"

Ty :o)

[Myfamily]

Hi Biscuitmal,

 

Just wondered what happened at the hearing on the 25th?

 

Myfamily

[biscuitmal]

Ended up going with the 350 pounds company who managed to stop court action by offering more cash, however, after redundancy ran out, back to square one.

Have not been able to pay any mtg or firstplus for quite a while

Moved, both working now, but having had to use very high interest loans, are still struggling a bit catching up.

Decree given to Rbs to take house,

I have a meeting Monday with a representative from ' ascent' to see if anything else can be explored re the rbs repo. But also firstplus now going for repo 2nd may??

Can they if decree already granted to Rbs?

Also will be huge.shortfall as fp are claiming 90k owing still to them...

Over 40k of this being interest

Am.I better going for sequestration? Or will they not be able to chase us fir shortfall?

P's..

The two letters sent both to ourselves and court by their solicitors have different amounts as to original. Amount borrowed. Varies by 18k which oddly enough was amount of ppi I was told I would have to take, but could cancel ( which I did before first payment was taken)

[biscuitmal]

Consumer credit people put me in contact with firm in Glasgow who seem to be suggesting sequistration ( brave) as a route but, if firstplus are unable to chase, attach earnings etc for shortfall, I'd rather avoid this, but unsure what's more likely to happen??

[biscuitmal]

Bankruptcy nit brave ( sorry phone keeps altering words)