Sapphire v Natwest - SORTED !

[Amethyst]

Re: Sapphire v Natwest

cool cheers xe that always fuddles my brain

[Sapphire]

Re: Sapphire v Natwest

Have received this today:

We thank you for your letter of 7 April 2008.

We confirm we are taking our clients instructions.

Yours

I suppose its the waiting game now isn't it. Well if they are happy to carry on with the agreed payments then fine, if they coming umming and aaaahhhing re repaying it, then we have the other letter ready so lovingly composed by my good friends on here.

[Sapphire]

Re: Sapphire v Natwest

Received this morning,

Dear ......................

We refer to your letter of 16 April 2008.

As you are making efforts to re-mortgage your property to repay the outstanding amount in full together with further interest and costs, our client has confirmed that it will bear with you for a further three months. It will review the position again at this stage.

In the meantime, our client has asked that you undertake a review of your finances with a view to putting forward a revised monthly proposal for payment with a view to the level of your monthly payments being increased.

We therefore look forward to hearing from you within the next 14 days with up to date details in relation to your income, expenditure, assets and all liabilities together with a revised proposal for our clients consideration.

Well I think that this looks most promising, and as long as we can supply the relevant information (its ready now more or less), and show our ability to increase the payments significantly (which we can in 3-6 months, as we will have a few debts cleared by then), and perhaps an even greater increase at a later date (when a couple of other debts have been cleared), hopefully we 'might' be onto a winning solution. We also will be getting the work coming through in the next few weeks from the contract we gained as well so that will be a good help.
I'll have a go a constructing a letter over the weekend, and if anyone wants to have a play and do the necessary :kiss:adjustments I'd be very gratefull.

[scoobydoo]

Re: Sapphire v Natwest

Just make sure you keep your anticpated payments sensible and then if you can you could always pay more. That would always look better than promising an amount and then not being able to meet it. You can always send a cheque for extra payments as long as you keep meticulous records of what you have promised to pay each month and then what you actually paid.

Hopefully you are seing some light at the end of the tunnel now

[Tools]

Re: Sapphire v Natwest

Fantastic news Sapphy, sounds quite promising so far.

[scottishlass]

Re: Sapphire v Natwest

good news Sapphy a wee bit of breathing space well done.

SL xx:hug:

[WendyB]

Re: Sapphire v Natwest

Great news Sapph, sounds promising!

[Sapphire]

Re: Sapphire v Natwest

I've done our I/E sheet up to date.

Here's a draft letter with our proposals for payment (If the grammer police can have a tweak it will be much appreciated)

Dear Cobblers,

Thank you for your communication dated 24 April 2008 the content of which I note.

Please be assured that I am still making enquiries into the possibility of remortgaging my property but am still having a negative response. One reason seems to be holding back any remortgage is the second charge on the property, but I am still trying to find a lender.

In the meantime as requested by yourself please find attached an up to date I/E sheet that shows our financial status clearly.
As you can see we have 2 debts showing, with arrears that will clear in the next 3 - 8 months, to which the money can then be allocated to Nat West as outlined below

Debt 1 clears in 3 months - £100 increasing Nat West to £350
Debt 2 clears in 6 months - £250 increasing Nat West to £600

As you can also see on our I/E sheet we will also be having more debts clearing in another 12-18 months to which it is my full intention to increase my payments to Nat West accordingly.

Further more I have recently secured a significant contract for my business and only source of income. This should in the near future hopefully provide substantially increased funds enabling me to greatly increase the amount of my payments to you and in turn reduce the amount of time it will take to settle the debt.

I ask for your patience and cooperation when considering any future decisions which will benefit both parties

Yours

[enaid]

Re: Sapphire v Natwest

Debt 1 clears in 3 months - £100 increasing Nat West to £350
Debt 2 clears in 6 months - £250 increasing Nat West to £600

Big offer IMO thats sappy, you are offering them £600 more in 6 months time, are you sure about that. You can always pay more if you have it, you will not however be able to pay less if you haven't. Enaid xx

[Paule]

Re: Sapphire v Natwest

Ok Just being devils advocate here and maybe preparing for thier response

As you are making efforts to re-mortgage your property to repay the outstanding amount in full together with further interest and costs, our client has confirmed that it will bear with you for a further three months. It will review the position again at this stage.

They are looking at you having sold your house in 3 months to pay everything off

In the meantime, our client has asked that you undertake a review of your finances with a view to putting forward a revised monthly proposal for payment with a view to the level of your monthly payments being increased.

and show our ability to increase the payments significantly (which we can in 3-6 months, as we will have a few debts cleared by then),

They want an increased monthly payment NOW not in the future


I know this sounds harsh, but This is how I interpret their letter, and I think you need to be aware of this angle as well

PKea

[Sapphire]

Re: Sapphire v Natwest

Thanks Di yes I agree I will work on that again I think.

Thank Paul for pointing that out tbh I didn't see it that way, but I agree you are right but I have to try everything don't I, hopefully they don't want to make us sell and will agree to an increased payment plan.

[WendyB]

Re: Sapphire v Natwest

Hi Sapph, I'm with PK on this one, and Enaid. But then I don't see how you can offer them more money NOW if you haven't got it. A holding off tactic is needed, I think.

What about this

Thank you for your communication dated 24 April 2008 the content of which are noted.

Please be assured that I am still making enquiries into the possibility of remortgaging my property but as yet have had no positive response.

In the meantime as requested by yourself please find attached an up to date I/E sheet which clearly illustrates our current financial status.
As you can see there are debts with arrears that will clear in the next 3 - 8 months, this money could then be allocated to Nat West

Take out the bit about which debts are clearing then, let them work it out for themselves. Don't hand it to them on a plate cos you may not be able to stick to it.

You will also see that other debts are scheduled to clear within a further 12-18 months. It is my intention to increase my payments to Nat West accordingly at that time.

Further more I have recently secured a significant contract for my business, which as you know is my only source of income. This should in the near future provide substantially increased funds enabling me to greatly increase the amount of payments to you and reduce the term required to settle the debt.

I ask for your patience and consideration regarding any future decisions in this matter.


and I'm not sure about the swapping and changing from me/my/I to ours/we. But can't get my head round that at the moment. Not sensibly, anyway!

Wendy xx

[Sapphire]

Re: Sapphire v Natwest

Thanks for that Wendy looks more like it hun, I shall get onto that in the morning and get it away in the post, unless anyone else comes up with a pointer or two :kiss:

[Amethyst]

Re: Sapphire v Natwest

Its a bit airy fairy ifs buts maybes - need to be more positive. If its okay I'll have a look properly a bit later on.

[scoobydoo]

Re: Sapphire v Natwest

If I was playing devils advocate I would ask you why are you putting repaying the other debts before your mortgage ? I am sure you have your reasons but If I was the lender thats what I would be asking you so just be prepared with the answers. The post above also agreed with my recommedation not to overstretch yourself and then fail that will look worse. But I think they will need dates and amounts for definite payments before they can decide whether thay will accept your proposal.

Jan