Its so unfair why wont someone help?

AMILLIONDOLLARS

Only requoting what she has said!!

Fran

i. If you didnt like the CAB try the CCCS.  All the charities have different styles and approaches - there is nothing wrong with shifting.  It's perfectly legitimate.

Heddwen - If you don't feel happy with the C.A.B. after your visit today and decide to try CCCS or another agency, it's just a thought but make sure you make it clear to C.A.B. that you want to go somewhere else and get any papers you might have left with them. Also make it clear to the new lot how far any other agencies have taken it.

Tim_L

Timli

But we all seem reluctant to suggest the obvious solution  that hubby find full time employment, why.  Its not judgemental its the obvious solution

I certainly don't disagree with the analysis, and in fact if you look back over what I've posted you'll find this is precisely the thrust of the advice I've given. In fact, we're in almost complete agreement, since I've also said that if their system of priorities is such that they want to make a go of the business they need to go for it 100%, i.e. no more half measures.

Whether or not it is possible to succeed in this sort of venture is a moot point, but then again people do make a living from car valeting, so it is possible. I believe that objective advice on this sort of thing is available from organisations such as Business Link who can look at the totality of the situation: frankly we're too far removed to make sensible judgements.

However what I think you need to be careful about is making positive assertions that the husband is on an "ego trip" on the basis of the very limited information Heddwen has posted about him. He is after all making efforts to bring in extra income through a second job, and it's quite possible that jobs are not that easy to come by in whatever part of the world they are in.

AMILLIONDOLLARS

Timli

I concede your point on "ego trip" yes I will admit I may have been wrong on that assumption - apologies.

But I've always been of the opinion that if its not working let it go and try something else.

I've had a house repossed and its not something to recommend. So I see it as a clear choice lose your house or lose your business and after spending 18months in a homeless family hotel in one room with a one year old and hubby, the choice is clear to me. Lose the business and get a full time job that pays. (this happened about 20 years ago, the memory is still with me )

Heddwen_2

Hi

I went to CAB today and they were most UNhelpful. Gave me a lecture rather than doing what has been suggested on this post!

I asked if they would be kind enough to mediate with the mortgage company for us and they said no! They told me it wasnt a great idea to rent out the house anyhow and even after I explained our predicament and research till blue in the face they still carried on and on about how we shouldnt be living here in the first place. Told us to sell up and go live in rented acomodation to get help with housing benefit etc. I was most unhappy.

They mentioned that our overdraft wasn't a priority and the mortgage was, of course this makes sense but then on explaining that the bank 'swallows' up my husbands wages each month as he endevours to clear his overdraft they told him to go and open a new account and get the wages paid into that and get an overdraft on that to pay off the 1st overdraft now the first part I saw sense in, at least he / we would have money and could arrange to transfer a set amount each month into his account to pay off the overdraft similar to a loan (that no one will give us) but without the interest only bank charges. But to tell us to get into possibly more debt to clear one debt come on! They said that food was not a priority bill (much to our amazement they would rather us starve to pay off debts and yes they meant it this way as I questioned them) They also said it was ok we had plenty of time to get the £2,000 together as the reposession process normally takes 6 months and even then they will negotiate up until you walk in through the court room doors! I just prey that ball doesnt even start rolling! Are they being sacastic or just giving bad advice?

I am also getting concerns that, as recently dicussed on the news, house prices continue to rise and so I believe that the intrest rates will increase very soon. On intrest repayments only, until December when our 'tie in' lapses, are we safe for a few more months at the repayments we currently have or is it set to rise for us possibly iminently also?

One final thing I find un-nerving was today we had a guy knock at our front door claiming to be from our mortgage company and he actually mentioned the Banks Name without any prompts. However he showed no ID and it was the first we knew of him. He said he has been sent to see if he can help sort out our arears and made an apointment for next Monday afternoon. I asked for it sooner as said we wanted to sort it fast plus we were off to the CAB today but he said he was unavailable until Monday.

We had no prior warning, no phonecalls, no letters from the mortgage company advising of his visit nothing. Is this normal practice to send someone out like this? He was an oldish looking gentleman, not the type of character one would expect! I was too afraid to ask if this was the start of repossession proceedings.

Thanks everyone for your help, I am following many of the suggestions we havent already tried and a few of the ones we already have again!
Feeling a little happier today at least!

Heddwen

zcaprd7

No ID sounds well dodgy.

What's wrong with selling up and renting?

For all we know you live in a mansion and all your income goes towards paying a huge mortgage, hence your problem with day to day expenditure?

Fran

Heddwen - I am surprised you didn't get something sorted out at the CAB. It sounds like you had an inexperience or useless advisor. They are all run as independent bureaux so they can vary. Had you been there before? From what you say it sounds like they were telling you what to do rather than advising you of your options which they should have been. I don't know why they wouldn't negotiate with the mortgage company on your behalf. What reason were they giving for saying that you "shouldn't be there in the first place"? They were right in saying that your food bill isn't a priority - in the sense that priority debts are ones that a) take away your freedom (court-prison), b) losing your home, c) losing essential goods and services, or d) being disconnected. I have just checked this information. When it comes to calculating repayments and negotiating with creditors, these debts take priority over other debts. Did they ask if you had an income and expenditure sheet worked out or offer to do one with you? Did they look into other ways of increasing your income such as benefits? They are right to suggest that you get another account where your husband's wages are paid in so that you have control over the amount that pays off the bank, but perhaps they weren't aware you have already tried to open accounts? As far as your mortgage is concerned - is it possible to negotiate smaller payments for a while (I can remember what you have said about it before)? This man who came to the door may or not be from your bank, but it is better if you make the arrangements to see them.

I don't know if you have been given bad advice or not. It is possible that you were, but is it also possible that you didn't like what you were advised to do? Please don't take that personally. From what you have said, you have been trying to work things out, they might have put it to you in a bad way, after all it is only one person that you saw, another could be completely different. The problem you have now is that there are so many people offering you advice that it must be confusing. I really do think you need to get one of the agencies working for/with you, and while advice on here might be well thought out for any one particular issue, you need someone looking at the overall situation for you, which no-one on here is guaranteed to do. I strongly recommend you go to one of the other debt help agencies in your area as soon as possible. As far as the CAB visit is concerned, I would complain to the manager (who has responsibility for that bureau). You shouldn't have left feeling like you do, things should have been clearer and you should have had a conversation not been preached at. (If you have the energy.) If you do want advise on here about particular issues, everyone is very willing to help, but again I would say that you need a professional 3rd party to deal with your situation overall. Good Luck Heddwen. Please PM me if you want to know anything that I can help you with. Fran

Heddwen_2

Theres nothing wrong with selling up and renting theoretically but in reality we would never get back on the housing ladder again, especially as house prices continue to rise.

If we sold up now we would wipe out all our debts and have some money in reserve yes, but we would be worse off than we are now as the saying goes "equity rich cash poor!". My husbands parents are no better off than most of us scraping by and kind as they are to take us in again they dont want us there forever and I feel we shouldnt rely on the security we have in being able to run back when we get into trouble. I am trying to get us out of this fix with as little parental help as possible, that goes for my parents also. Its not about pride but about learning to stand on our own 4 feet in the real world. As one day we will have to as our parents wont be around!

As I mentioned before, should we sell our house we would still have to pay as much as we are now for the monthly repayments but for a smaller pokey flat the size of a bedsit, and had you have read my previous postings you would have been aware that we now live in a 2 bed mid terraced home in a 'more sort after' area where family are not so far away.

To those of you whose immediate reaction is to move somewhere less sort after the houses are no cheaper there!

We would drastically reduce our overall mortgage figure yes but have a small home for the same amount, which is still less than if we rented at the moment.

This is due to our position with the mortgage arears at present as it limits the number of potential lenders drastically and those who will take the risk with us have high penalties for bad credit. Which I have been told can take anything from 6 - 18 months to clear off our credit history files.

As far as the dodgy man who called over yesterday typically I recieve a letter this morning from a company calling themselves DMS(Debt Management Services) as our lender (Bank Of Scotland) have "instructed them to meet with us to discuss the difficulties we may be experiencing with our mortgage repayments and one of their Councillors will be making an apointment with us to discuss our mortgage arrears and establish if possible a repayment plan that will be both affordable to us and agreeable to the lender - Our cooperation in this matter is fully appreciated"!

So is this the beginning of court proceedings or can we exhale a big sigh of relief that they want to co-operate with us renting it out without firstly clearing the debt? As I mentioned yesterday we have this appointment Monday PM so we shall see.

Why is it so difficult for a big bank to give lee-way to people like us who are trying to do whats right and hold our hands up to the fact we are in arrears and try to do something about it? I have been told theyre not particularly bothered about how much they get back if repossesion occurs and after all what is a big amount to us (£2,000) is peanuts to them. ::)

Will keep you all posted, thanks for the continuing support!

:-/

lisyloo

Theres nothing wrong with selling up and renting theoretically but in reality we would never get back on the housing ladder again, especially as house prices continue to rise.

Prices cannot continue to rise as they have been doing.
It's unsustainable.
There are a mmunber of people (small minority) who are currently selling their homes and going into rental accomodation out of choice because they believe the market will crash and they will be save a fortune by rejoining the market at a much lower point.

I can't recommend this as a strategy (as I don't know what will happen), in fact I think it's quite risky.

Nevertheless you should be aware that there is a risk that your property value MAY fall in the next few years.
I realise that's difficult for most people to imagine at the moment, but some sort of "correction" is almost inevitable.
I am just unsure as to whether it will be stagnation or a gradual slow down or a crash.

mistral_2

Some of us keep waiting for this eventual fall , but when will it happen?

The Motley fool have now said by June we should meet the trillion  £ mark of money owed .

But will the market collpase ?

Hopefully the next interest rate rise will start to address some of this  as we cannot continue to accrue this much debt .