PPI Reclaiming discussion Part III

marshallka

di3004 wrote: »

Yes I agree.

Now my mortgage repayment is just over £745 a month but thats both repayment and interest, the protection will cover for only £405 of that, sorry I said £425 earlier I got it wrong, yet thats if we are lucky, wonder how much I would pay in just the interest then, getting worried not as we are paying the mortgage with the overdraft which is almost coming to an end.... , and if the insurance does not sort out in time, we are !!!!!!ed .....:rolleyes:

I thought you were living off your savings Di and did not realise that you were paying it out of the overdraft...:eek: . I thought you said saving before. If you are paying it out of the overdraft how long have you been doing this for then... Don't you get any help with anything at all . I thought you had benefits coming in...

di3004

marshallka wrote: »

I thought you were living off your savings Di and did not realise that you were paying it out of the overdraft...:eek: . I thought you said saving before. If you are paying it out of the overdraft how long have you been doing this for then... Don't you get any help with anything at all . I thought you had benefits coming in...

They gone hun......now.....:o , we have been using that while work was only paying hubby SSP....:o the Income based JSA will not be activated until this week, xmas does not help, council tax will take weeks as well, Wales are very slow sorting this out, I do have the bens coming in but that covers food and all other direct debit in bills coming out monthly....as well....

Even my CTC have dropped as well since hubby came out of work by almost £23 a week,it was £123 a week, because of the youngest disabilities, then have £75 a month CB for the youngest and Carers at £225 a month.
My youngest received DLA monthly, of why I get carers a month for him.

marshallka

di3004 wrote: »

They gone hun......now.....:o , we have been using that while work was only paying hubby SSP....:o the Income based JSA will not be activated until this week, xmas does not help, council tax will take weeks as well, Wales are very slow sorting this out, I do have the bens coming in but that covers food and all other direct debit in bills coming out monthly....as well....

Even my CTC have dropped as well since hubby came out of work by almost £23 a week, then have £75 a month CB for the youngest and Carers at £225 a month.

I remember discussing this with you a few weeks ago and when I said about cancelling everything that we had that was not a necessity ie insurances etc as we were so broke they had to go. We have no savings what so ever and my hubby earns less now than 5 years ago and my son is out of work too. We never have a night out and we really do all cut down on the bills as best we can and I bet if you take away our mortgage from our income then I have worked it out on the benefit checker thing we have less to live on than someone on benefits..:eek: . We manage though of sorts and we all pull together. We have paid off the OD now with the co-op money (or they have!!) but we will struggle again and it will be before another 12 months and like I say, we cannot reduce down from Interest only as its the lowest we can go and that is with someone working. Our mortgage is being paid fair enough but only the interest. You are not alone here Di...;)

di3004

marshallka wrote: »

I remember discussing this with you a few weeks ago and when I said about cancelling everything that we had that was not a necessity ie insurances etc as we were so broke they had to go. We have no savings what so ever and my hubby earns less now than 5 years ago and my son is out of work too. We never have a night out and we really do all cut down on the bills as best we can and I bet if you take away our mortgage from our income then I have worked it out on the benefit checker thing we have less to live on than someone on benefits..:eek: . We manage though of sorts and we all pull together. We have paid off the OD now with the co-op money (or they have!!) but we will struggle again and it will be before another 12 months and like I say, we cannot reduce down from Interest only as its the lowest we can go and that is with someone working. Our mortgage is being paid fair enough but only the interest. You are not alone here Di...;)

Thanks hun.:A
My oldest as you know does work and also pays £20 a week digs as well,and/ or he will help out with the food shopping at the end of the month for the big bulk of it so at least we will not starve......:D , and I'm sure something will work out, I know a miracle would be good but as you know yourself, money comes in one hand and out of the other.;)
Same as us then, we do not go out, its been years since we had a night out, think it was 2001 on our wedding anniversary.....oh and that's on New years eve, we did have a night at a mates a few years ago as well, many moons ago, in my perm days pmsl x

di3004

I agree, if we did not have this mortgage to think about, I expect we would be better off on bens. As we still have to pay the reminder of the £405 to make it up to £745, our fault for not thinking about updating this though....:o , I have had the forms here for a while and as soon as hubby returns to work, as we are not then entitled to housing benefit. fingers crossed lol he will go back SOON lol, then I will update them.;)

I know there is a site called entitled to as well isn't there?;)

marshallka

di3004 wrote: »

I agree, if we did not have this mortgage to think about, I expect we would be better off on bens. As we still have to pay the reminder of the £405 to make it up to £745, our fault for not thinking about updating this though....:o , I have had the forms here for a while and as soon as hubby returns to work, as we are not then entitled to housing benefit. fingers crossed lol he will go back SOON lol, then I will update them.;)

I know there is a site called entitled to as well isn't there?;)

But if the £745 is both interest and capital and you are struggling on benefits then now with the rate reduction I would say that the the £405 will MORE than cover the interest on the mortgage and at least that is your roof over your heads. We are paying only interest and we are still alive and kicking...:D and we are classed as a working family. If I paid the capital as well then we would have other debts too. We don't and have not cause we could not afford...hopefully it won't be forever though..;)

di3004

marshallka wrote: »

But if the £745 is both interest and capital and you are struggling on benefits then now with the rate reduction I would say that the the £405 will MORE than cover the interest on the mortgage and at least that is your roof over your heads. We are paying only interest and we are still alive and kicking...:D and we are classed as a working family. If I paid the capital as well then we would have other debts too. We don't and have not cause we could not afford...hopefully it won't be forever though..;)

Thanks hun, I feel better talking about this now.:A :T xx

di3004

Just a thought, now that interest payments comes into mind, if I explained the situation to the mortgage lender then that we have so much of this to cover it for a month provided by pinnacle, can we still ask them to arrange for us to pay just the interest with this amount, even though we have that amount of £405 coming into cover it, if successful then?:rolleyes:

marshallka

di3004 wrote: »

Thanks hun, I feel better talking about this now.:A :T xx

There is no shame in debts Di as long as we live and learn by them and realise the debts occurred cause of overspending and living beyond our means...:eek: .

Even working people cannot afford their mortgages some times. My husband works and earns a good wage but the overtime stopped about 5 years ago and we are now worse off than then... as long as the mortgage is paid enough to stop repossession till we can get on our feet better then that is everything i suppose. Some people have nothing and no-one...;)

marshallka

di3004 wrote: »

Just a thought, now that interest payments comes into mind, if I explained the situation to the mortgage lender then that we have so much of this to cover it for a month provided by pinnacle, can we still ask them to arrange for us to pay just the interest with this amount, even though we have that amount of £405 coming into cover it, if successful then?:rolleyes:

They could not reposess the house as you are offering the mortgage interest so I think they would have to treat you fairly. They may charge something like we have had to pay £2K just to swap the mortgage to another scheme with them this month. Its added to the mortgage so not out of our pockets just yet but at least its a roof.

There may be a problem though if they kick up a fuss about you owing them 98% if this is 98% LTV. I would just ask them first...