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Loulous reposession

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  • #1

    Loulous reposession

    Cet, can you have a look and tell me what you think about this please?

    Ok

    Got a letter from Wallers OBO Northern Rock advising of court date for reposession hearing 9th September 2008.

    Spoken with NR today. They have said I owe a total of £2546.80 and for them to halt proceedings my account needs to be 2 months or less in arrears. My total monthly mortgage amount is £405 so I need to owe less than £800. When I said I could probably scrape together £1500 before the end of this month, the chappy said that would be great because the rest could be added to my monthly mortgage repayment amount.

    I am so confused now, I know that if I fail to get the £1500 together then they will carry on with the reposession and I will end up losing the house. I dont want to agree to the £1500 in writing and fail to meet it for whatever reason.

    Does anyone have any idea on where I can go with this and what I can do??

    Help would be appreciated.

    Thanks

    Loulou
    Neither a borrower nor a lender be;
    For loan oft loses both itself and friend,
    And borrowing dulls the edge of husbandry.
  • #2
    this is what Loulou has proposed thus far...

    The total arrears on the account currently stand at £2546.80.

    I will make a payment to you of £1100 before the 31st August 2008. Collection of my normal mortgage payment by Direct Debit will recommence on the 1st September, and will continue monthly thereon. This amount is currently £405.

    Additionally in order to clear the arrears on the account i will, on the 1st of each month commencing 1st October 2008, make an additional payment to my account of £251, the last additional payment being made on xx/xx/xx.
    Of course this doesnt bring the account within £800 arrears by the 31st August. Loulou is currently working on her income expenditure which will clearly show she just can't afford to pay £1700 as well as her normal monthly mortgage payment. the above is as close as we have managed to get.
    #staysafestayhome

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

    Received a Court Claim? Read >>>>> First Steps

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    • #3
      Re: Loulous reposession

      Can you pay your mortgage payment as it stands plus some towards the arrears each month for the forseeable future

      What was the reason for the arrears and has the situation now changed?
      "What makes the desert beautiful is that somewhere it hides a well." - Antione de Saint Exupery

      "Always reach for the moon, if you miss you'll end up among the stars"


      Comment

      • #4
        Re: Loulous reposession

        It is possible to negotiate with them as they do not really want to take your house - what they need to see is a realistic proposal to repay the sum owing in a reasonable period. Do that and they may back off.

        It is better to make a lower offer of repayment over a longer period than to overstretch yourself and fail to keep to the arrangement, so consider very carefully any offer you make.

        It is also a good idea to send a cheque with your offer letter, even if it is for a small sum, as this helps to demonstrate that you are serious and that you do not want this situation to continue.
        • 1 thank

        Comment

        • #5
          Re: Loulous reposession

          I am going to post here everything i have done so i know where i am at with things....

          ok....

          letter written and cheque for 100 quid written out, will send letter once it has been checked. Only got 100 quid in my account so will have to make do for now with that amount... I get paid on the 22nd of this month so I can pay the rest of the amount i have agreed to by debit card before they have asked for it to be paid by....
          Neither a borrower nor a lender be;
          For loan oft loses both itself and friend,
          And borrowing dulls the edge of husbandry.

          Comment

          • #6
            Re: Loulous reposession

            it sounds like even if you were to just make your offer, the judge would probably consider a suspended posession order anyway... but yeah, make your offer in writing, make sure it is sent special delivery and with a cheque.

            Comment

            • #7
              Re: Loulous reposession

              letter all typed up and ready to go special delivery today... just got to figure out how to work housemates printer ffs...

              x
              Neither a borrower nor a lender be;
              For loan oft loses both itself and friend,
              And borrowing dulls the edge of husbandry.

              Comment

              • #8
                Re: Loulous reposession

                Well done honey good luck and love you heaps xxxxxxxxxxxxxxxxxxx
                #staysafestayhome

                Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                Received a Court Claim? Read >>>>> First Steps

                Comment

                • #9
                  Re: Loulous reposession

                  thanks Ame, I owe Cet one big time.... and I know he will be giving me a prod thanks to you, while you are away...

                  L xx
                  Neither a borrower nor a lender be;
                  For loan oft loses both itself and friend,
                  And borrowing dulls the edge of husbandry.

                  Comment

                  • #10
                    Re: Loulous reposession

                    All the best with this Loulou, Enaid xx

                    Comment

                    • #11
                      Re: Loulous reposession

                      Anything happened?

                      Comment

                      • #12
                        Re: Loulous reposession

                        letter delivered, going to see if the cheque has been cashed in a couple of days, not had any contact as yet from them... x
                        Neither a borrower nor a lender be;
                        For loan oft loses both itself and friend,
                        And borrowing dulls the edge of husbandry.

                        Comment

                        • #13
                          Re: Loulous reposession

                          Good luck Loulou, I am sure you have done the right thing. Now lets see if they show an ounce of compassion or will they be shown to be just as inconsiderate as the rest of them.

                          Best wishes,
                          .Hod..Liam..
                          Borrow money from a pessimist -- they don't expect it back.

                          Comment

                          • #14
                            Re: Loulous reposession

                            Ok here is the update

                            NR cashed the cheque for £100 and apparently left me a voicemail accepting the payment arrangement and have sent me a letter, although neither have been received. When I called them on Friday to pay the £900 which I had agreed with them previously and stated in my letter to them, they still say I owe more than 2 months mortgage, infact more like 6 months!!! So I have really lived on rice pudding and toast for 2 weeks previously and will be doing for the foreseable future as I have paid the £900 this month for nothing. They still plan to go to court to get the 28 day order anyway because I am still not within the 2 months, I apparently need to find another £1600 which is impossible.
                            When I spoke with Claire at NR she assured me that although they will be going for the order, as I have made payments and shown that I am trying to get the arrears down, and because they have accepted the payment arrangement, they wouldnt repossess the property. I cant see how they can accept this money off of me and agree to the payment plan and still go to court??
                            I really need some help filling in my defence because it looks like I am going to court....

                            eek....
                            Neither a borrower nor a lender be;
                            For loan oft loses both itself and friend,
                            And borrowing dulls the edge of husbandry.

                            Comment

                            • #15
                              Re: Loulous reposession

                              So is this a suspended order they will go for!

                              We unfortunately have one of those and as long as we repay the agreed amount of £250 over and above the mortgage repayment, which we were able to do over 4 years, they will not repossess. ( she says hopefully) but if we miss a payment they go straight for the repossession.

                              I believe with the Norgan case in extreme circumstances you can get the total of the arrears over the whole period of the remaining mortgage.

                              I do hope all goes well for you.

                              xx

                              Comment

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