Mortgage arrears after money stolen through paypal... help

kurgan

Paypal phoned me a few weeks ago to say they had frozen my account as there was a transaction for 500 euro which they thought wasn't me.... they said the money had not gone through, and my account was frozen... good job I thought..... a week later.... my mortgage payment didn't go through as there was insufficient funds!!! Paypal had not told me that the money had come out of my account...... they were holding it until they investigated this dodgy transaction..... I expressly told them to make sure the money did not come out!

I applied for the money back into my account, and as soon as this got back (over the course of a weekend) I phoned Nationwide (my mortgage) and told them the situation and repayed my mortgage payment!

They said they might be able to do something about the arrears, so i sent them a printout of the activity from paypal as proof (which is what paypal told me to do) and am still waiting to hear from them.... what should I do now????
who do i speak to about this?? how can I get it off my credit record?? I am trying to remortgage at the moment and have been rejected by haligax for a mortgage because of this!!!!
I am totally stressed and a bit worried..... especially as my wife is expecting in 2 months and we need to remortgage to get rid of a load of debt in preparation for bringing a new life into the world.

Any help and/or assistance is greatly appreciated folks.

Phil

Toughluck

If you have made the payment within (at most) 28 days of the due date I wouldn't worry as you are given a tolerance by new lenders of this anyway. If you have over 12 motnhs left on your deal with Nationwide this mistake would then be over 12 motnhs old when you look to re-mrotgage and it would be classed as historic and not taken into account in most cases.

If your postive the payment was cleared at nationwides end I wouldnt worry at all if I was you.

kurgan

thanks for your reply...
but you don't understand ...

My mortgage is already up with Nationwide..... I have (through a mortgage advisor) sorted out a good remortgage with the Halifax, however they have just done a credit check and say that my credit is fine except for the arrears, and as it is so recent (last month) they cannot lend to me. So yes I did repay it quickly, about 2 weeks late, but I need to remortgage immediately... so i'm screwed i reckon :-(

AndrewSmith

I do not understand.

A mortgage company will not register arrears against your account unless you are over 1 month behind.

It certainly would not have been picked up by Halifax doing a crdit search in such a short time frame.

Lenders do not register arrears for someone who merely pays a couple of weeks late as long as it is less than 28 days and you ahve called to explain.

_Andy_

kurgan wrote: »

thanks for your reply...
but you don't understand ...

My mortgage is already up with Nationwide..... I have (through a mortgage advisor) sorted out a good remortgage with the Halifax, however they have just done a credit check and say that my credit is fine except for the arrears, and as it is so recent (last month) they cannot lend to me. So yes I did repay it quickly, about 2 weeks late, but I need to remortgage immediately... so i'm screwed i reckon :-(

If it fell outside of the month it was due then that's why - most companies would record that as missed.

kurgan

to continue.... my mortgage comes out on the 20th of the month... as i get paid on the 15th.... so it did go into arrears quickly.. anyway... an update...
after sending all sorts of paperwork to nationwide... I spoke to them yesterday and they have gracefully agreed to remove the arrears, they say it will show on my credit history that I was never in arrears in the first place.... So that's a big thumbs up to nationwide in my book.
However I am still unhappy with Paypal... I expressly told them on the phone to make sure no money came out of my account, but they didn't tell me they had already taken the £400-odd pounds out!!!!
anyway... I guess i'll just have to be happy it's all sorted, and I can reapply for a remortgage.
Thanks for all your input people ;-)

ps.. anyone know if it's worth trying for some compensation from Paypal?

Phil

ameratsu

No-one in their right mind should leave hundreds of pounds in a paypal account, it's madness - they can and do freeze accounts for up to 180 days.
I have a business paypal account and don't even leave £50 in there!
As for getting compensation from PP - they are not a bank and are not governed by the FSA, they are not even under UK jurisdiction - you have more chance of winning tonight's euro lottery!

t_obermory

ameratsu wrote: »

No-one in their right mind should leave hundreds of pounds in a paypal account, it's madness - they can and do freeze accounts for up to 180 days.

You don't need to have any money in your paypal account for money to be stolen from it as its linked to your bank account and money is taken straight from your bank account via paypal. It happened to us too unfortunately, luckily we still had enough left to pay the bills while it was sorted.