Idem Servicing

[Cas27]

Hi,I’m new to the Forum, just wanted some advice please, my husband & I got a loan originally from Picture, then we got told Idem Servicing was taking over. We defaulted with our payments but got back on track & brought the arrears back up to date, in 2016 I was dismissed from my job & things went from bad to worse, in a story short we are in arrears again, my husband came off work last October due to throat cancer, we did pay half the loan money for a while but we cannot pay anything as my husband’s company & statuary sick pay has run out. We are in the process of claiming Universal Credit, where do we stand with Idem. Be very great full for any good sound advice. They are ringing & sending letters.

[jaguarsuk]

If you haven't got to a point where they are sending you a letter before action then you need to a ring them and explain your circumstances.

Inform them you need to adjust the repayments and if necessary go through income/expenditure with them.

The thing is, if they might consider court in future they have to weigh up what their chance of winning is and whether it's worth paying the fees.

If you're going to be paying a reduced amount on a CCJ what's the point of adding fees, it's just more money they are out of pocket in the mean time and they won't get it back any sooner.

If you have been sent or get a letter before action that's a different matter. You'll know whether you have if you have received the forms on pages 10-13 with one of their letters here: https://www.justice.gov.uk/courts/pr...ebt-claims.pdf

[Diana M]

my husband & I got a loan originally from Picture, then we got told Idem Servicing was taking over. We defaulted with our payments but got back on track & brought the arrears back up to date, in 2016 I was dismissed from my job & things went from bad to worse, in a story short we are in arrears again, my husband came off work last October due to throat cancer, we did pay half the loan money for a while but we cannot pay anything as my husband’s company & statuary sick pay has run out. We are in the process of claiming Universal Credit, where do we stand with Idem. Be very great full for any good sound advice. They are ringing & sending letters.

Is this a secured or unsecured loan from Picture Home Loans? As far as I'm aware Picture only provided loans secured on your property.

If it's secured they would seek possession of the property not a CCJ.

Was there PPI on the loan which would normally be front-loaded (added at the beginning and interest charged on it)? I'm assuming there wasn't PPI otherwise your husband would be making a claim on the policy due to his medical issue - but I thought I should ask in case it was missold.

How much was the loan and when (what year) was it taken out? Do you know whether it was a "Regulated" or "Unregulated" Loan? This is important.

When you say Idem Servicing took over, do you mean it was assigned (sold) to Idem or are they are managing it on behalf of Picture Loans? It's important to check for any potential assignment issues.

You refer to "we" so this must be a joint loan or is it in your husband's sole name.

I wouldn't arrange anything on the phone, only deal in writing since you need a paper trail if things get tricky especially if they threaten you with repossession.

How much are the arrears?

If this loan is secured by a second charge on the property do you have any arrears on the first mortgage or is that all in good shape?

Di