REPOSSESSION - collecting info

Dithering_Dad

Merry Christmas and good will to all men :rolleyes:

I think a few people on the Housing board will soon be visited by three ghosts...

wintersunshine

Nice to see that the true spirit of Christmas is alive and well on the HP board

penguine

As difficult as it may be for the more financially prudent to accept taxpayers having to bail out those who overborrowed or MEWed, I don't imagine it's any cheaper (economically or in terms of the broader societal consequences) to have large numbers of people made homeless through repossession.

And house prices are destined to come down regardless of whether support is provided for those facing repossession or not.

HammersFan

punkstoner wrote: »

The words of somebody who is almost repo'd, or who is recieving said state help.

me thinks.

You wish. Wrong - very wrong - on both counts.

RecoveringAlcoholic

The information that is in the public domain can be found here:

http://www.cml.org.uk/cml/statistics

If you want to see what is happening in real life go and visit your local court on repo days.

tesuhoha

feisty1 wrote: »

[/b]

If they had the appropriate insurance in place to protect them against illness or redundancy, they wouldn't have this worry

If the answer is they couldn't afford it, the the answer to that is they are exactly the people who needed it

My husband and I have been paying for this insurance and the mortgage company gave us the impression it was for redundancy. He is self employed and there was some doubt whether they would pay out anyway. When recently he lost his job we were told it was for sickness only.

michaels

tesuhoha wrote: »

My husband and I have been paying for this insurance and the mortgage company gave us the impression it was for redundancy. He is self employed and there was some doubt whether they would pay out anyway. When recently he lost his job we were told it was for sickness only.

So either you were mis-sold and have a case against the mortgage company or you just chose not to check what you were actually paying for. In general any insurance cover provided by a lender is much more expensive than third party policies available so taking the lenders product at all suggests you may not have done a sensible amount of research given the amount of money that you were paying for the cover - for example £30 pm over 25 years = £9k which is probably enough to be worth spending several hours making sure you were buying the right product at the best price?

Broken_hearted

feisty1 wrote: »

[/b]

If they had the appropriate insurance in place to protect them against illness or redundancy, they wouldn't have this worry

If the answer is they couldn't afford it, the the answer to that is they are exactly the people who needed it

PMSL one of my pet peeves was the years it took liverpool victoria to pay out on the insurance policy we had. Saving worry:eek: it nearly pushed me into a mental breakdown.

Broken_hearted

michaels wrote: »

So either you were mis-sold and have a case against the mortgage company or you just chose not to check what you were actually paying for. In general any insurance cover provided by a lender is much more expensive than third party policies available so taking the lenders product at all suggests you may not have done a sensible amount of research given the amount of money that you were paying for the cover - for example £30 pm over 25 years = £9k which is probably enough to be worth spending several hours making sure you were buying the right product at the best price?

Or as soon as you go to make a claim they change the rules.

Darth_Marty

Conor wrote: »

The !!!!!! are those who think that the morons who borrowed beyond their means should be bailed out.

Are you really stupid enough to think that everyone in danger of being repossessed deserves it and are morons?

Is your job so secure? Or your familys? Or your close friends?

It wouldnt take much to put an awful lot of people in jeopardy.

Ill keep a look out for your future posts to see if you ever endure any hardship and then ill be as sympathetic and helpful as you are.