RBS Refusing Payment Plan

Renwick1

Hi everybody,

Hope you can help. We got behind in our mortgage 8 months ago due to my husband losing his job. Happy to say that having missed 4 payments, for the last 4 months we have managed full payments. We have £1608 in arrears so last wee I phoned RBS payment centre in Birmingham to make an offer to pay £150 extra a month to clear the arrears.

They refused saying I cannot afford to make the payments (which I can). Now I have read lots on here where they refused as an unacceptable offer but I am the opposite.

They have now sent a letter saying that my account is on hold for a month to give me the chance to consult CAB.

Help! I can afford to clear it but they absolutely do not want to accept a penny. :rolleyes:

benjo

Sorry if Im being dim, you say they will not accept payments, have put your account on hold for one month while you consult CAB - what are they suggesting you do? do they want you pay off the arrears in full in one payment? if so it wouldnt hurt to speak to CAB.

Renwick1

I think they want to reposess? They are saying I cannot afford it but te letter is pushing for a payment of the full mortgage amount of £67k. Clearly if they say I cannot afford £155 though -I cannot afford the full amount???

Radiantsoul

Who are you speaking to at RBS.
The case law states the courts will not give possession if you are able to repay the loan over the original term of the loan. So your payments ought to be acceptable.

I suggest that you draw up a statement of income and expenditure and reconsider what you are able to pay(consult the CAB). On possibility is they will seek a possession order suspended on a given level of payments, but it sounds like you are some way off that.

I would say if you are able to continue to make payments then you ought to continue to do so. I would say you need details about what they are doing in writing. So I would continue to make paymenets, clarify your offer in writing and ask for them to outline how they want to move matters forwards. In the meantime consult the CAB and get an income and expenditure statement drawn up.

Renwick1

Thanks

Did not realise the rules on repossession - I feel better now. I called them today and they feel that I am in financial hardship and therefore felt that by going to Cab I could take part in their recapitalisation scheme. I have said I would like to pay and they have agreed. :T

Renwick1

Yippee, letter came today confirming my payment plan at the money I agreed.

penguingirl

Glad it's worked out well for you