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surrey_36

Coast claim for Possesion or property received - old Welcome Finance secured loan - now sold to coast

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Are you making payments on the first mortgage?   is it only this Coast loan that is not being paid ?


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19 hours ago, surrey_36 said:

Situation today for me financially - like many I cannot even pay my mortgage, council tax etc because i'm not able to get into work. 

^^^

 

dx

 


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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On 16/03/2020 at 13:33, surrey_36 said:

They had been contacting me offering to settle the loan at a considerable discount

 

can you expand on this surrey?

got letters too?


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Hi Ell-enn, I have been making the mortgage payment for the house for the last 7/8 months - including a small amount of £20 towards the arrears.

 

I am also paying council tax (although this months payment has not gone through).  There are no other loans, only small debt with Vanquis.   Have defaulted on 2 small other loans.

 

Otherwise nothing being paid out that does not need to be (apart from Netflix and my Microsoft Office Subscription) - otherwise we manage on the minimum.   Not bought any new clothes or shoes for a long time.   We are healthy and that all that counts but we don't want to lose our home that's for sure

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Hiya Dx

 

Im pretty sure It was phone calls rather than letters, but ill check.. I remember they called and were extremely friendly and offered at one stage a payment of £3k to settle the debt- which if I had of had that I would have done

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21 hours ago, unclebulgaria67 said:

Get on the phone tomorrow to the mortgage company that has the first interest in the property. They should have a team that deals with such issues and they may already know about it.

 

Value of property ( quick sale) ?

 

first mortgage amount ?

 

Second loan amount ?

 

Do you have other debts ? If so what are these ?

 

Suggest that you take up Councils offer to at least look at housing options ?

Hi Peter

Not really any other debts. Only small credit card about £600 - couple of other accounts defaulted (not massive amounts about £1300)

Value of Property Quick Sale £250

Mortgage £170k +£50K  i owe to my parents for paying for building work a while ago.

 

I really don't even want to look at housing options I really will find that incredibly depressing.  

 

to be honest I'm so stressed out about this whole thing and worried about my parents and family at the moment that, I'm really thinking about just contacting the TLT solicitors and talking to them about what I need to do to get out of going to court because I really don't think mentally i'm in a strong enough place to be able to handle that at the moment.  Its been a tough ride for a while

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So mortgage + secured loan debt is £220000 compared to a quick sale value of £250000.  

 

With all of the costs that will be added, and a  much reduced sale price if they sell after repossession, any equity could be wiped out, with the possibility you could owe a debt.  If you think a quick sale would achieve £250k, I think the amount they would sell it for may be considerably less than this.

 

Have you discussed this with the mortgage company ?

 

It might be worth contacting the Housing charity Shelter to see if they can help you ?   

 

https://england.shelter.org.uk/housing_advice/repossession

 

I think you should fight to stop the repossession and part of this may be offering a bit more than £20 to cover the arrears, if you can.  And may be the mortgage company might be willing to help, as they might think it is  not in their interest.   

 

Ell-enn is much more knowledgeable on this topic.


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thaks Uncle Bulgaria, appreciate your advice, I did try calling Kensington today but the call was cut off after holding for 70 mins! Ill try again tomorrow.

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god I forgot you are with kenny's

rock and a hard place.

 

dx


please don't hit Quote...just type we know what we said earlier..

 

if everyone stopped blindly paying DCA's tomorrow

the biggest financial industry in the UK, the whole DCA industry would collapse overnight.

 

 

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Given the current circumstances with Government suspending the housing market, I wonder whether Courts would be accepting repossessions anyway.

 

It cannot be in anyones interest for such a process to be happening now.


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

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I cant get through to Kensington - 2 hour wait time!

Do you think it might be a good idea to call TLT solicitors and explain that I written to Coast and asked them for the SAR - so I could calculate the charges that were incorrect and then setup the repayment with them - is it worth a phone call to them or not?

 

Also worried that I have not filled in this court form yet (N11M) - I think I have 28 days!

 

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 Your N11M defence form should be at court at least 7 days before the date of the hearing.


Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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