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    • I was looking for advice. I have no money. This has been dormant for several years as you can see on Page 1. Am I better to go to mediation, or to carry on and fight the case ? They still have not provided the documentation I requested ? With coronavirus can I email a scanned N180 ?
    • See the document in the following link. Parts 2048 and 2049   https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/864939/admh2.pdf   By declaring the capital asset correctly, you are then enabling the disregard action to take place.n
    • Hi DX,   Thanks for your time and advice.    I really cant remember if / when it was defaulted etc because 20yrs ago my finances were a bit of a mess. I thought I finally cleared everything just with deals with collectors and one debt did go to court and I had a CCJ which I paid in full and is about 9 years ago and no longer on my file.   I started to live in another country for about 10 years and have been back in the UK now for 6 years so I was surprised to see this suddenly crop up on my file a couple fo days ago.   I've attached a pdf with 2 screenshots of Credit Karma screens, the left screenshot is my front page showing the alert for the Halifax and the screenshot shown on the right is how they listed it, almost as if its a live credit card except the Credit Limit shows as £0   Do you know if when I write to them, are the obliged to remove it from the credit ref agencies or will it be on there now for 6 years?   Thanks again for your help Pip credit report.pdf
    • Just a question details below is the filing history  A claim was issued against you on 02/12/2019 Your acknowledgment of service was submitted on 04/12/2019 at 20:28:57 Your acknowledgment of service was received on 05/12/2019 at 08:05:28 Your defence was submitted on 14/12/2019 at 11:45:17 Your defence was received on 16/12/2019 at 01:21:14 DQ sent to you on 15/01/2020 DQ filed by claimant on 04/02/2020 You filed a DQ on 13/02/2020 Your claim was transferred to XXXXXX on 13/02/22020   It states the claimant must pay £55.00 by 19th May and if not the claim will be struck outwith effect from 19th May if the pay the fee the case will be held on 16th June 2020 its states in the letter under section 6, each party must deliver to the other party and to the court copies of all documents on which that party intends to reply at the hearing no later than fourteen days before the hearing.   We think they will pay the £55.00 thinking we may not attend and they get the claim on default not the case we will be fighting all the way     It states in the court papers    The following directions apply   Each party must deliver to the other party and to the court office copies of all documents on which that party intends to reply at the hearing no later than 14 days before the hearings    The original documents must be brought to the hearing   The judge may refuse to consider the documents or take it into account if a copy of it has not been sent to the other party as required by this order   The documents must be sent to the other party and the court must include the statements of all witinesses   So our questions    Copy of all paperwork must be sent to all parties 14 days before the court date ( 2nd June 2020 ) if the claimant fails to pay the fee on 19th May will the case be cancelled as of the 19th May ?      
    • I understand this has dragged on the years, we have tried every thing to resolve this matter, the other party has said they are not interested in talking they confirmed yes we have repaid over the years £13k but they want the full claim amount, the last words were in fact see you in court once we have the CCJ we will have bailiff collect everything you own plain and simple.   My question is we are fighting this and submitted the follows:     A claim was issued against you on 13/03/2020 Your acknowledgment of service was submitted on 24/03/2020 at 19:25:51 Your acknowledgment of service was received on 25/03/2020 at 08:05:23 What is the latest date the defence can be submitted online, is it 14 days from the 25/03/20 = 8/04/20 or 28/04/20    Our defence is based on 2 counts    1, Statue Barred  2, Promissory Note not Executed as Deed and no Consideration taken into account
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Sub-prime mortgages re-emerge in wake of Funding for Lending scheme

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Loans designed for borrowers who have 'experienced one-off event resulting in adverse credit record', says lender

 

Sub-prime mortgages, widely blamed as the cause of the financial crisis, have begun to re-emerge with a new lender unveiling a range of loans for borrowers with poor credit histories. Magellan Homeloans will offer mortgages of up to £400,000 to people who have had county court judgments, individual voluntary arrangements (IVA) or even bankruptcy orders against their names. But borrowers will be charged interest rates starting at 8.55% compared to current "best buy" rates of as little as 1.5% on conventional loans.

 

Magellan is the brainchild of Matt Gilmour, who previously ran sub-prime lender Unity Homeloans, a joint venture with South African bank Investec, which was one of the earliest casualties of the financial crisis. Unity also offered "self-certification" loans of up to £1m, but the company was dissolved in 2009. It is the first lender to return to what the mortgage industry calls "heavy adverse" lending, which was common before the credit crunch but disappeared completely by 2008. Since then many mainstream lenders have offered home loans only to borrowers with the cleanest credit records. However the past few months have seen an easing in lending conditions, boosted by the government's Funding for Lending programme and rising house prices, which have made lenders more confident about advancing loans.

 

Land Registry figures show that house prices have accelerated in recent months, surging at an annualised rate of as much as 10% in some parts of London. The average time that houses sit on the market before finding a buyer has fallen to 8.2 weeks, the lowest for six years, according to data analysts Hometrack. The UK's biggest network of valuation surveyors, e.surv, said confidence is "pouring back into the housing market". Andrew Hagger, a financial commentator who runs the website MoneyComms voiced a note of caution: "Sub prime mortgages caused major issues for borrowers in the run up to the banking crisis and it's worrying that this form of lending is starting to raise its head again just as the mortgage market is gaining momentum.

 

"The interest charges are bad enough as they stand, but if we see rates rise in the next couple of years this looks like a disaster waiting to happen." Last year the Financial Services Authority introduced tougher rules to restrict interest-only and self-cert mortgages, and warned banks not to rely on rising house prices, which its then chairman, Lord Turner, said "was the absolute core of the US sub-prime disaster".

 

While none of the big high street names has formally relaunched into sub-prime, some building societies have begun to treat applications more generously.

 

More: http://www.theguardian.com/uk/business


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