F&Fsecured loan with Elderbridge - coerced debt and selling house

[dx100uk]

as advised - calm down.

 

your SAR will not sadly put the A/C into dispute no.

 

dx

[Myfamily]

I know, I'm sorry, I've been trying really hard to stay calm but every now and then I get a wave of panic!! I put in a seperate complaint about them not replying to my offer letter, I was wondering if that complaint puts any action on hold??

[dx100uk]

whaton date did you eventually send that sar?

 

dx

[Myfamily]

It was sent on 19th November

[dx100uk]

you really should have gotten that off when first advised too in october

 

the info would be here now

 

as it stands

 

it'll prob be the new year now before you ever get

what you desparately need....the statements

 

dx

[Myfamily]

Yes I know you're right DX, I waited because I wanted them to get my offer letter first and consider that and I thought that sending a SAR to them first would cause them to become annoyed and reject my offer.

Hello all, Can anyone please help!

I received a letter today from FP, reads as follows.

" This matter has now been passed to our solicitors for immediate legal action - Eversheds.

All previous communications regarding request for payment of your account have been disregarded as we have received no satisfactory proposals for repayment.

In order to avoid further legal action please contact Eversheds on 0845 *** ****immediately to make a payment or discuss this mater further.

You have previously been advised that we share information with licensed Credit Reference Agencies. As your account is now seriously behind with payments, we have therefore registered this information with these agencies and this will affect your ability to obtain future credit.

You should also be aware that your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. We strongly recommend that you contact Eversheds immediately.

If a third party advisor is assisting you in your financial affairs you should notify them so they can update their records accordingly."

---------------------------------------------------------------------------------------------------------------------------------------------------------------

What do I do now? I ignored their phone calls but I did write to them with an offer which they still haven't replied to.

Should I write to Eversheds with the same offer?

Please help!

FP have been back on the phone - (i recorded the call!) this time a lady from the complaints department again trying to explain to me why they do not respond in writing to my offer. SHe said they are a contact centre and they negotiate over the phone - she said

FP - "that is the most effective way to deal with arrears and get the best solution"

"so it's not the done thing that we negotiate in writing, so we did respond to that letter that you did send, we just advised you that your account wasn't currently with us at that point, but I do appreciate that the timescales in which, i mean I've looked into everything that happened

[dx100uk]

only a may , if ,but. could

 

write with the same offer to evers.

 

no big deal

 

dx

[Myfamily]

FP have been back on the phone - (i recorded the call!) this time a lady from the complaints department again trying to explain to me why they do not respond in writing to my offer. SHh said they are a contact cente and they negotiate over the phone - It is long but she said

 

FP - "that is the most effective way to deal with arrears and get the best solution"

"so it's not the done thing that we negotiate in writing, so we did respond to that letter that you did send, we just advised you that your account wasn't currently with us at that point, but I do appreciate that the timescales in which, i mean I've looked into everything that happened and I can see that we followed the correct process, so when the account is in arrears as such, the arears were £***** so that's 10.5 payments behind why your account has been issued with the Notice of Default and obviously then it was passed to Gothia correctly and then passed to us correctly back once you get that Notice of Default because then we need to start legal proceedings"

 

Me - but then what I mean is that no-one has actually responded to that, you know a phone call is not, not everybody deals with things on the phone, i prefer not to deal with everything on the phone because I can't keep track of things.

 

FP - I do appreciate that, you prefer not to but unfortunately that is the way that our company does operate in regards to arrears and when we want to put a plan in place, now obviously I do appreciate the timescales in which it all happened, it was very quick and I am willing to uphold that part of, with regards to you being passed form pillar to post, and also regarding when you did call us on 22nd ....... I can see that the agent........ didn't have access to the letter. she gave you the correct information saying that "oh normally we don't respond" now she has just made an assumption there because obviously that's just something that we don't do.

 

I can see that we did respond to your letter of the 8th of the 11th advising you that obviously the account was with Gothia, so obviously for the incorrect information as well I can uphold that pointas well, but in terms of following the correct process we have done that, erm and obviously I appreciate that you're not happy that we couldn't agree the figure that you were put in there, but unfortunately it wasn't enough secure and agreement on the account, so obviously the next stage of action has had to happen now, but in regards to you know the timeframe and obviously being passed from pillar to post I do agree with you on that, and obviously just the inaccuracy of the information, obviously the agent didn't have that to hand but I will be issuing a cheque for you for £50.00 as just a token to recognise that, but in regards to the way we have handled it, the fact that we have followed the correct process in passing ti to different people, you know the correct departments that has happened correctly, but obvously as a customer I do appreciate, you know, the confusion that's happened in the meantime.

 

But obviously now you're waiting, you're currently waiting now for the notice of default to expire aren't you?

 

Me - I think it's already expired.

 

FP - I think it was, yeah it was the 3rd, yep cos were now on the 5th, so it's expired. So then the solicitors will be in touch to see what will happen next, see if there's anything we can do in terms of arrangements or whether it will need to go to court.

 

Me - Right.

 

FP - Has anything changed in your circumstances or anything.

 

Me - No not at all.

 

FP - No, o.k. well as I say what i'm gonna be doing today is putting all my findings to your complaint in a letter ok. and obviously I'll get that gesture of goodwill in there too for you £50.00 as a small token for you. And I will also be sending a leaflet out for the Financial Ombudsman, so if you still remain un-happy with this response, you have the right to take this to the Financial Ombudsman, o.k. and I'll give you all the details in my letter, so you've got that information to hand, I will obviously just re-confirm everything that we've gone through today, is that o.k. for you.

 

Me - That's fine.

 

FP - Is there anything else I can help you with.

 

Me - No no, that's fine thank you.."

 

 

 

I tried to keep my responses short as I did not want her to think that I was at all satisfied with her explanation, but I'm stuck now.

 

She rambled on and on but I can't see how they still think that the way they behave is right.

 

Any help or advise please!!

[Surfer01]

Advise FP that if they refuse to communicate in writing you will be raising a complaint with FOS. Send it by registered mail for a signature yesterday! FP have no interest in helping you or accepting any offers so pointless being nice to them. BTW did you advise that you were recording the call?

[Myfamily]

Well She said she was going to write write to me answering my complaint and explaining why they didn't answer my offer letter although from what she said today it sounds like they think sending an acknowledgement and fobbing me off to Gothia was a reply!! I don't know??

 

No I did not tell her that I was recording the call. Does that matter??

[Surfer01]

It is always a good idea to ask them if it is okay otherwise it can never be used as proof in a court of law. If they refuse, tell them that you are terminating the call immediately.

[Myfamily]

Ah O.k. I understand, I am trying to write this letter that you suggested but should I do it now as she said that she was sending their response to my complaint in writing but I don't think that that will include a proper explanation of why they have refused to consider my offer, or should I wait for her reply to my complaint?

[Surfer01]

What is the point in waiting as it will make no difference? Did waiting to send off the SAR make any difference? Try and do things as soon as possible instead of delaying.

[Myfamily]

Hi Surfer,

O.k I will get this sent off tomorrow morning ( i don't have a printer at the moment so have to send it to my husband to print and bring home later).

Is there any chance that you or anyone can please help me with the wording of this, the lady said in our conversation that it is not the ay they're company operates when it comes to arrears and agreeing plans, so can I say that it's not acceptable do I have the right to get things in writing if I have written to them?

Can anyone please help me with this, I'm struggling to write this letter.!

Hello, well the postman has just delivered me some bad news! - Nice start to the weekend!

A letter from FP regarding my complaint, I think what she has written is total rubbish, she is saying that their reply to me fobbing me off to Gothia was a response to my letter of 31 October but it did not answer my letter at all, they stated that they had noted the contents but not whether they accepted or rejected it and why - I don't think this is fair at all.

Between FP and Gothia neither of them gave me actual decision on my offer. I don't know what to do with this complaint now, she states that I can write to them again if I disagree, which I do but they do not seem to understand the point that I am trying to make!! And a letter from Eversheds.

Please can anyone have a look and give me your opinion.

We cannot afford the full amount I can afford £500 (which is more than 50% of the normal monthly payment). I anticipate that this is temporary situation a max of two years.

Do you think it would be best to write to Eversheds and explain all this, I have worked out that over the 6 years that we paid on average £800 per month (taking into account any increases and rare decreases in interest rates) that we have paid over £60,000. Even if we paid the next 18 years at £500 per month they would still be earning interest and would be paid a further £112,000 so into total £172,000.

 

We have two young children, we both work hard and all we want to do is get through a rough patch but they seem intent on getting us out!

[slick132]

As Eversheds are involved and talking of taking court action to get a Possession Order, Ithink you should start a new thread in the Legal Issues section of the Debt Forums.

 

Start with a brief history of events to date, so all the pertinent info is readily visible to others and they can advise without trwling back through this 7 page thread.

 

Post a link to the new thread here and then this thread can be closed.

 

[Myfamily]

Thanks Slick, i will get on this in the morning.

what do you think my chances are?

So I think you want a brief history then.

myself and husband took out a loan in 2006 for £100,000, mainly debt consolidatiing and some improvements (I am not sure if I have details anymore about which things were consolidated)

At the time we could afford the payments, I was getting plenty of overtime, which I saw no end in sight for (my department so busy and short staffed) Husband had plenty of overtime too as well as on call allowances. As far as I remember this was all self cert, I don't recall being asked for payslips or anything from FP to check our affordability, But I am not trying to get out of paying it.

The payments started out around £840 per month and interest was 9.060% but payments are now £950 at 10.20%.

last year we both had cuts to our earnings both our overtime pay has gone, we are no longer allowed to do overtime so no way of making extra money. My husbands on call allowance has been taken too, so we are both on our basic wages.

I arranged with Fp to pay £600 per month for a year and then it would be reviewed. A year later I still could not manage the full amount, FP passed the account to Gothia and they agreed £210 per month for 6 months, this ended in Oct.

I can afford to pay FP £500 but they have ignored this offer I wrote to them making this offer and explaining our financial situation on 31 Oct, at the time the account was being dealt with by Gothia. I got a letter back from them dated 8 Nov telling me that they had noted the contents of my letter but that I should speak to Gothia, so I wrote the same letter to Gothia on 13th November.

A few days later I got a reply from Gothia telling me that the account had been passed back to FP and that I should contact them.

On the same day I received a DN from FP. I rang FP and asked if I was going to get a reply to my offer letter, and was told that I would not as the DN has now been issued, I explained that no-one has answered this letter, they said they tried to call me, but I explained that I want to keep everything in writing. but was told this is not how they work. SO between the two companies neither of them has actually considered or written to me rejecting my offer.

I sent in a complaint top FP about this, but was verbally told (i have recorced this call) that their letter of 8th Nov fobbing me off to Gothia WAS a reply??? I can't see how!

The letter I got in reply to my complaint is attached and I have now received a letter from Eversheds, also attached.

I don't know what else to do now.

Our situation is temporary. My husband has another child from his previous marriage who is 15 now, he pays £350 each month in maintenance in 2 and half years time, he will 18 and these payments will stop.

My husband is doing the knowledge to be a black taxi driver he should be done in approx 2 to 3 years and will keep is day job and do this in the evenings and one weekends, with this extra money will be able to afford the payments again.

The sale of our house would not cover the FP loan and I have estimated that it would be about £40,000 short.

I have also done a SAR and am still waiting for their reply to this, I have never had any statements, they incresase the interest rate whenever they feel like it.

I just need help from them but seem intent on repossession. I have two children in Primary school, one is 10 and one is 8. The 10 years old I think is going through puberty (I know it's early!) she's emotional and timid, it would be horrible to uproot them.

I have worked out that I got this loan in June 2006 and payments we're £840 per month from June 2006 to June 2011 = 50,400 + 7,200 (£600 per month for one year) then £210 for 6 months equals £1,260.00

So I have paid approx £58,860. If I paid £500 from now on (for 224 months left - 18 years) I would be paying another £112,000so in total by the end of the term would have paid back almost £172,000.

Their interest rate is ridiculous, I think it has only ever decreased twice and then after about 6 months they would take it straight back to to what it was and then a little bit more.

I believe they are unfair and confusing, it stated they are not regulated by the Consumer Credit act 1974 yet they've issued a DN under that act, surely it's not fair to just pick and choose the bits of the act that suit them!!??

Can anyone please help me, I don't know what to do now. Very stressed and scared. Please help!

 

[42man]

I'm really sorry to hear about your situation, you will probably get some useful information provided but I will put this link here which you will find useful... - http://www.consumeractiongroup.co.uk/forum/showthread.php?148830-Defending-an-order-for-sale

[Myfamily]

Hi 42man,

 

Thank you for that link although, I'm sorry I'm not sure what I do with it?

 

Really sorry I'm not legally minded, this whole thing is confusing and scary, I wish it would all go away, I am terrified.

 

Myself and my husband are trying to keep it together, we're trying to keep our family together, All we want is a safe place for our kids, we would have no-where to go from here, I don't think we could rent anyway, private landlord would do a credit check, and ours is not good.

 

I just don't know how else to explain to these people that we are not trying to get out of paying anything but we need help!

[slick132]

Thanks for opening the new thread in legal Issues and this thread is now closed.

 

[Myfamily]

Everyone seems to have disappeared - Have I offended in any way??

 

Just a small update in case

 

I spoke to Eversheds today (i recorded the call) and advised that I cannot offer full monthly payment as I cannot afford it,

and that I am complaining to the FOS about their treatment of us, i ignoring my offer, refusing to put anything in writing to address that at all.

 

She said they would go back to their client FP and tell them that.

 

At some point in the conversation when I was getting a little annoyed at her attitude as she was saying they could only accept full monthly

plus an amount towards the arrears that would clear it in 6 months! or the will go ahead with seeking repossession.

 

I told her again that I cannot afford the full amount,

 

I could afford £500 per month, she said this would not be sufficient as the account would keep going further into arrears

 

I asked how this was as I was told in the call of 22 Nov to FP that the interest on the account had been suspended

as the man I spoke to told me that any payment I make now would come straight off the balance.

 

She told me this was nothing to do with interest, but I could not understand what she was telling me (her accent - itallian or spanish I think was quite strong!)

 

She asked me to send my income and expenses to them,

 

I asked what would be the point as they are already telling me that they won't accept any kind of reduced payment offer,

I have decided not to send this again as their client (FP) already has it!

[slick132]

Hi MF,

 

You've not offended anyone !!

 

When you post, folk will read but not necessarily comment, but we are here.

 

[Myfamily]

Ah thanks Slick,

 

I'm sorry, just feeling very scared and vulnerable, We've always tried our best and never asked for help, my husband has worked since he was 15 and I have worked since I was 17 , I just feel like there is just no help for people who work hard.

 

I remember my mum told me years ago when I left home and baought a house that she regretted not telling the council that she was chucking me out so that I could get a council house and buy that, if we knew then what we knew now!!

[Myfamily]

Hello everyone,

 

Well, I have still not recieved my SAR documents back, my request was dated 18 Nov so 40 days from then is today! Am I right or do I need to add and extra day or so for the post.

 

Eversheds called me on 21st Dec to tell me that they have a hearing date now and asked if I could clear the arrears, I explained that I couldn't as I do not have the money.

 

They had sent me a letter before this asking for income and expense which I provided to them by e-mail along with a copy of the offer letter that I had previously sent to FP and Gothia. In the e-mail I answered the other questions that they had asked in their letter such as if we were both working and how many children under 16 etc. I also explained that there would not be enough equity in the property to cover the secured loan.

 

In the phone call of 21st from Eversehds I asked if I would be getting a response from them regarding my current financial position and offer and I mentioned the equity in the property would probably not even cover a 3rd of what we owed! He said "it's not just about equity, it's about security and they may not even enforce it".

 

Can anyone shed light on what he might mean by this?

 

Or any thoughts at all please, I am so worried now - I have got forms from the courts now too, so they're going through with it and I am truely terrified.

 

Please help!

[maybelate]

Hi Myfamily, I can't offer any help on your thread as I'm in a similar situation to you with various DCA's hounding me continuously and no legal knowledge other that what I have gained from this brilliant site, but what I can say that you have come to the right place and there are lots of fantastic, knowledgeable people on here who will do their best to support and help you as much as they can. I have experienced court a couple of times now and although very scary please try not to worry as even the court can't take what you haven't got can they?

[slick132]

Hi MF,

 

You need to send the bank a SAR Non-Compliance letter and copy it to Eversheds.

 

Eversheds called me on 21st Dec to tell me that they have a hearing date now

Have you received any notice from a court to confirm a hearing date or even that legal proceedings have started at all ?