Massive debts

gargrave50

gargrave50 wrote: »

Been thinking about the mortgage all night - we need to get £120k for our house which would pay off our mortgage, secured loan and car (is this a good plan?). Then if we get the house for £190k we could start from scratch and our only outgoings would be the mortgage:D. Need to get some figures together to convince hubby. If the house is valued at £220k, we get it for £190k surely that would mean if we had to borrow £190k to mortgage that wouldn't be 100%? I think thats a rough estimate of 85% LTV? Any advice appreciated:D

Is this a good idea? Any comments welcome. I don't want to be getting us into trouble by being blissfully ignorant just because I've fallen in love with the house!:o

gargrave50

This week I need to find out 1. how much is outstanding on the mortgage, 2. how much is outstanding on the secured loan and 3. how much is outstanding on the car. Also need to find out about council tax and stamp duty costs.

gargrave50

Thought I should give you all a laugh at my heart-attack when I found out the council tax charges!!!!

Council Tax Charges 2009/2010

Council Tax Band


Council Tax




A





£1,071.05


B





£1,249.55


C

£1,428.06


D

£1,606.57


E

£1,963.59


F




£2,320.60


G

£2,677.62


H

£3,213.14

To put it into perspective we are now in band D - moving to band H!!!!!

gargrave50

Wow! I absolutely loved it (surprise surprise). It is even better than the schedule made it look. I really love it, had a quote for the mortgage of £1073 per month with Nationwide willing to pay our solicitors fees. Need to add up what we pay just now and look at our new incomes and do some figures. This sounds like a days work for tomorrow:D.

There's always the lottery tonight:rotfl::rotfl::rotfl:

gargrave50

Lottery on - cross your fingers

gargrave50

Well shock horror - we didn't win the lottery:eek:.

Hubby is just about to watch the football, and I really want to talk to him about the house before it starts:o. My stomach is churning - he is quite adamant that we can't afford it, however I've worked out that our current mortgage + secured loan payment is almost equal to what the new mortgage payment would be. We have been managing to pay that witout any problems and I haven't been earning my new salary, so I expect that we should be able to manage quite comfortably:mad:. Ooh my nerves, taking a brave pill and going to try to have civil conversation about the house - I don't want it to turn into a battle as I travel back tomorrow:o

gargrave50

Managed to have a civil conversation. To let you in on the details I put the following to him.

We currently pay £486 mortgage, £448 secured loan, £269 car hp and £164.31 personal loan:eek:. If we sold our house we would repay all of the above debts and hopefully have enough to pay off our remaining credit card balances etc. Therefore we would in effect be going to the new house debt free with only the mortgage to pay:D. The mortgage is 85% LTV approx, and has been quoted at £1075 per month with Nationwide offering to pay solicitors fees for those who are not first time buyers:p. In my view its affordable given that we have been able to honour the above credit commitments before when I was earning no more than a part-time wage and a student bursary. Now I have as good job security as you will get (NHS), and a good salary £30,000 plus shift allowance. I hope to be able to pay the mortgage and council tax each month in addition to my rent in London and travel costs. Therefore hubby would need to pay utilities and living costs from his £450 a week. On paper it works. However, I don't want to let my heart rule and ignore the bits I don't want to hear. Is this stupid? Its a forever house, the house of my dreams but I can't risk making a mess of this as we would be taking on a huge mortgage of £190k. If we don't get it for that, we simply can't afford it, and although I believe she would accept an offer of around this, that could be chinese whispers. Is it worth a go?


And more importantly than ever - would you all kick me out of DFW and make me join mortgage free wannabe?!:rotfl::rotfl::rotfl::rotfl:

He was really reasonable and we had a good conversation. Its a big step and he is thinking about it. At the end of the day I only want to move because its THIS house - if we go for it and don't get it then I will be happy to settle here for a bit longer. However, we need to put ours on the market before we can offer and that's nerve wracking and we need to shell out for the home report. Lot's to think about, but feel better now we have been able to talk it through.

gargrave50

Catching up with some letter writing - Barclaycard card have set Mercers and power2contact on us (see one of the above posts re: home visit!). Just wanted to post what I've sent them and copied to Barclaycard and Power2contact - it helps me keep a paper trail so to speak in case it all gets lost again!


Mercers Debt Collections Limited
PO Box 55
Liverpool
L32 8XX

7th November 2009

Dear Sirs,
Client ref 5301XXXXXXXXXXXXXXXXXX – Barclaycard
Thank you for your letter of 28th October 2009 received 6th November 2009. We received a visit from a representative on this date also, and advised him that the account was put into dispute on 20th August 2009, as Barclaycard have been unable to provide a true copy of the executed consumer credit agreement, as requested. Despite the account formally being in dispute, Barclaycard have continued with collection activities in breach of the regulations, and as a result we have instigated a complaint with the Financial Ombudsman regarding the conduct of Barclaycard.
I must admit that I am rather bemused as to why this account has been passed to yourselves, as it is in dispute with Barclaycard and has been since 20th August 2009.

Not only is this a breach of the Consumer Protection From Unfair Trading Regulations 2008 and the Office Of Fair Trading's debt collection guidelines, but also in breach of the Consumer Credit Act 1974 and Data Protection Act 1998.

As Barclaycard are now in default of my Consumer Credit Act request and OFT Debt Collection Guidelines, I consider this account to be in SERIOUS DISPUTE.

As you are aware while my Consumer Credit Act request remains in default enforcement action is NOT permitted, under s127 this constitutes a complete defence at law.

Consequentially any legal action you pursue will not only be fully and vigorously defended, it will ALSO be averred as both UNLAWFUL and VEXATIOUS.

Now I would respectfully suggest that this account is returned to Barclaycard for resolution of these defaults and breaches, as Mercers cannot lawfully pursue any enforcement activities.

If Mercers choose to ignore my dispute and attempt enforcement, I will initiate legal action and file reports with the appropriate authorities, including, but not limited to, Trading Standards, Office of Fair Trading, Information Commissioners Office, Financial Ombudsman Service and possible court action.

After taking advice, I am of the opinion that any continued pursuit is in violation of the Administration of Justice Act 1970 section 40 as well as breaching a number of the OFT Collection Guidelines and the Consumer Protection From Unfair Trading Regulations 2008.

I hope that this will not be necessary and an acceptable solution can be accomplished.

I would appreciate your due diligence in this matter and look forward to your written response. You will be aware that the visit from a representative is in breach of the OFT Guidelines on Debt Collection. You will be aware that I have the right to request how you contact me, and I refuse to be visited at home or to discuss the matter by telephone. As the matter has now been referred as a complaint to the Financial Ombudsman I require all correspondence to be in writing as evidence, and I am entitled to specify this.

I look forward to hearing from you in writing, and unless the matter is returned to Barclaycard I will pursue a complaint against Mercers as you are in breach of the OFT Collection guidelines, as I have made you aware that the account is formally in serious dispute.
Yours sincerely


C.C. Barclaycard, Power2Contact

gargrave50

More of the same to Bank of Scotland's debt collector.

Albion Collections
PO Box 123
Leeds
LS1 1AZ

Dear Sirs
Bank of Scotland XXXXXXXXXXXXXXXXX

I must admit that I am rather bemused as to why this account has been passed to yourselves, as it is in dispute with Bank of Scotland and has been since 20th August 2009.

Not only is this a breach of the Consumer Protection From Unfair Trading Regulations 2008 and the Office Of Fair Trading's debt collection guidelines, but also in breach of the Consumer Credit Act 1974 and Data Protection Act 1998.

As Bank of Scotland are now in default of my Consumer Credit Act request and OFT Debt Collection Guidelines, I consider this account to be in SERIOUS DISPUTE.

As you are aware while my Consumer Credit Act request remains in default enforcement action is NOT permitted, under s127 this constitutes a complete defence at law.

Consequentially any legal action you pursue will not only be fully and vigorously defended, it will ALSO be averred as both UNLAWFUL and VEXATIOUS.

Now I would respectfully suggest that this account is returned to Bank of Scotland for resolution of these defaults and breaches, as Albion cannot lawfully pursue any enforcement activities.

If Albion choose to ignore my dispute and attempt enforcement, I will initiate legal action and file reports with the appropriate authorities, including, but not limited to, Trading Standards, Office of Fair Trading, Information Commissioners Office, Financial Ombudsman Service and possible court action.

After taking advice, I am of the opinion that any continued pursuit is in violation of the Administration of Justice Act 1970 section 40 as well as breaching a number of the OFT Collection Guidelines and the Consumer Protection From Unfair Trading Regulations 2008.

I hope that this will not be necessary and an acceptable solution can be accomplished.

I would appreciate your due diligence in this matter and look forward to your written response. You will be aware that I have the right to request how you contact me, and I refuse to be visited at home or to discuss the matter by telephone. As the matter has now been referred as a complaint to the Financial Ombudsman I require all correspondence to be in writing as evidence, and I am entitled to specify this.

I look forward to hearing from you in writing, and unless the matter is returned to Bank of Scotland I will pursue a separate complaint against Albion as you will be in breach of the OFT Collection guidelines, as I have made you aware that the account is formally in serious dispute.


Yours sincerely



C.C. Bank of Scotland

gargrave50

Just finished my form for my complaint to the FO about Barclaycard:j.

Starting another complaint to them re: HBOS Visa breaching OFT guidelines for debt collection - just logged it online:D.

Back on the night bus tonight, so need to nip to Tesco for some supplies too!