Equity Release Retirement Reversion PLC / Grainger PLC

[simon bell]

My father was either mis-sold or unwisely bought an equity release scheme. The solicitor who advised him has since been disbarred and the firm she worked for (which had been in the local high street for many years)no longer exists. The original debt has been charged at a high rate of interest and is now more than three times the size of the original loan and continuing to acrue interest well above what you'd get on a bank loan.
I have obtained power of attorney for my father but unless I can do something about this skyrocketting debt without realising my father has effectively sold his three bedroom house for £20,000
The company who hold the debt are Papilio UK. Can anyone advise as to realistic options? I am seeing a solicitor next week but any guidance would be appreciated.

hi newbie.my name is simon mark bell and my father who passed away on march 2011 got involved in a equity release scheme in 2004.....he got a loan for 25 thousand and they will take 85 % of the house when my mother passes away...the company has gone out of business but someone else took over the asset..i would really like to speak with you to share my experience and plan the way forward thx simon

[simon bell]

Re: Newbie: Father in a bad equity release scheme

hi newbie.my name is simon mark bell and my father who passed away on march 2011 got involved in a equity release scheme in 2004.....he got a loan for 25 thousand and they will take 85 % of the house when my mother passes away...the company has gone out of business but someone else took over the asset....here is my phone number 01514865917 ( house ) and mobile is 07506382725.....im also on facebook as simon mark bell....i would really like to speak with you to share my experience and plan the way forward thx simon

most of the legal profession will put barriers in your way and quote such all kinds of rubbish.....stay focused...!

[Tools]

Re: Equity Release Retirement Reversion PLC / Grainger PLC

New thread created for Simon, have removed your telephone numbers for safety. Anyone that can please help.

[simon bell]

Re: Equity Release Retirement Reversion PLC / Grainger PLC

New thread created for Simon, have removed your telephone numbers for safety. Anyone that can please help.

thankyou....my father passed way on march the 1st 2011...he borrowed 25 grand from in retirement reversions ltd in 2004 and they took 85 % of the house for that loan ..! they have since gone into administration and grainger plc now hold the property after my mother passes away...! my MP is useless and so is my solicitor...! the company were prosecuted for unfair contracts....any help outhere....??? ive been thinking of speaking to my euro MP and go down that route....ive no faith in britissh establishment or legal system and we cant really afford to take ot to court....any help would be appreciated.....THX folks...X

[enaid]

Re: Equity Release Retirement Reversion PLC / Grainger PLC

Hi and welcome, http://www.equityreleasecouncil.com/...nts-procedure/ may have some info or they may be able to give you some advice. I would imagine the contracts for these such loans are very complex and indeed one sided in most cases.
Enaid x