Caught between a Northern rock and a hard place

[frisp]

Re: Caught between a Northern rock and a hard place

On the remaining CCJ to H FC for a RSPCA CC with a £6k limit

From R estons letter (HFC Sols) dated Feb 06

The default balance was calculated @ £9052.88
With a collection charge of £1509.09
total £10561.87

The judgement was laid down as £10386 with £410 costs and I was directed to pay £28.07 pcm

I've managed to reclaim £524 in charges and £943.72 in mis-sold PPI both deducted from the above leaving a balance of £8930.42

As I'm not likely to get this into court before the OFT case is decided, is there any merit in having a bash at getting H FC & R estons to have the judgment set aside as the original sum was incorrect contained unlawful charges that have been refunded.

At the very least I'd like to get the collection charge refunded so any ideas or advice on how best to achieve this would be appreciated.

[scoobydoo]

Re: Caught between a Northern rock and a hard place

sorry if I have missed this in your thread but are you on a repayment mortgage with NR and what is the remaining term

have you ever been in arrears on this mrtgage before?

Have you had any change in your own financial circumstances recently or is it just the interest rate that is proving difficult

Have the NR asked for a I/E sheet at all?

Do they charge you if you do not make a whole monthly payment - i.e a penalty charge?

[frisp]

Re: Caught between a Northern rock and a hard place

sorry if I have missed this in your thread but are you on a repayment mortgage with NR and what is the remaining term - Interest only and about 18 yrs

have you ever been in arrears on this mortgage before? Not once in 3 yrs, with the stay NR have agreed to waive any arrears until Jul

Have you had any change in your own financial circumstances recently or is it just the interest rate that is proving difficult - Came off a fixed price product, NRs variable interest rate is 7.9% (I can afford anything around 7) as I have a CCJ I can't find another reasonable product, my only option is to sell & rent or get NR to behave sensibly

Have the NR asked for a I/E sheet at all? Not yet, but got one on the skids ready to go, if/when it gets to that stage

Do they charge you if you do not make a whole monthly payment - i.e a penalty charge?Nope that will come when we can't agree and they put me into arrears

,

I'm tying them in technical knots at the moment in the hope that either they'll be reasonable, or I can find a suitable product or I can sell and find somewhere to rent

[frisp]

Re: Caught between a Northern rock and a hard place

'bump'

Any ideas how I can get NR to back off further and get HFC to do the right thing?

[scoobydoo]

Re: Caught between a Northern rock and a hard place

Hi

Sorry have not been around for a few days - Here is my suggestion with NR - until somebody more experienced than me comes along . I would always keep every thing in writing and keep meticulous records of all your correspondence. If you can afford to pay your previous mp and a bit more (up to the 7%) Then write and explain this

Something like :

I refer to previous correspondence and would like to thank you for your consideration of my position by allowing me time to try and resolve my problems.

I would point out that during the time of my fixed rate term I have never defaulted on my payments. At the present time I can afford to pay £XXXX per month and have actioned my Monthly paymet to be increased to this amount. I am willing to complete an I &E sheet if you so require. I would like to repay my mortgage and move to a more competitve rate but at the present time due to a CCJ ( which is in dispute ) I am unable to do so. I am at present marketing my property ( enclose evidence ) but at present the market is slow and I do not see this as being a solution in the short term.

I realse that my current position can not continue indefinitely - however in view of my past payment record and the fact that I have continued to make MP of an amount I can afford I would be grateful if you would consider extending the term of allowing me to pay what I am able without taking further action . During this time I will endevour to continue to resolve the situation to the best of my ability.



Dont forget that although the NR can ask for repossession only a judge can grant ths so you will have evidence you have done everything possible.

Please also re-visityour personal budget ( I think there are budget sheets on the site) and make sure that every spare penny is put into the mortgage payments it must be your priority . Even if you have a spare fiver at the end of the week send them a cheque on top of your MP ( but keep a note of these payments) You need to keep control . Just hang on in there - you never know rates may come down - or some miracle may happen in the economy. Private renting may not be as bad as you think but you still need to have time to consider this as an option - not to be forced into it.

[frisp]

Re: Caught between a Northern rock and a hard place

Thanks for the ideas for a letter scooby, I'll consider all your other points