Help please!!

dedgrtn

I took out a loan earlier this year for £4000 and it was apparently secured on my property. I have no other mortgage, just this loan. I'm disabled and can't work but get incapacity benefit and DLA. I've missed 3 payments and wrote to them telling them I was having difficulty keeping up the repayments but that I would be looking to take out a lifetime mortgage when I reached 55 on 7th August this year. I've recently had a writ issued saying they are going to court to repossess my home. I've already started to make enquiries about a lifetime mortgage which I will use some of the cash to pay off this loan. Can someone please tell me if they will be able to get possession of my home and evict me? I have several health issues and I can't afford a solicitor and I also suffer from depression. They never acknowledged the letter I sent them so I don't even know if they received it.

Thanks
Doreen

rose07

heylo :hello:

i am not too sure what to suggest, did they make all this clear to you when it happened?
but i can say i dont think they can evict you on these grounds, do you think you can pay it back in time??
and understand your worries with having depression to i have this and it does not make things easy.
im sorry i cant be more help

but there are more people on here that will have more info

hope it goes ok, will check back asap to see how your doing, and if its getting too much you can pm me anytime, x

dedgrtn

Thanks for replying Rose. I will be able to pay it back eventually, just at the moment everything seems to be coming at once but I guess that's life. I've started the ball rolling on a lifetime mortgage as I apart from this loan, I don't have a mortgage. I sold a one bed flat in Bournemouth and was able to pay that mortgage off and buy this house outright. I'm also waiting for the outcome of a claim for endowment mis-selling. So at some point in the not too distant future I'll be able to pay off the whole amount outstanding. Thanks again for the reply.

Emmzi

Hi, I would get some legal advice from citizen's advice. It seems a harsh way of procedding to me, and agreeing a temporary repayment amount (nterest only?) may be possible to ease your current situation - but to help you with the stress this must be causing, I would seek guidance.

It seems odd to me that it is secured against the house - usually you would have to sign paperwork for this, and if you can't remember doing that, and an associated solicitor's fee, it seems unlikely. Do they perhaps mean they have a charging order, made when you defaulted? Has it gone to court? Can you dig out your original loan application and see if it says it is secured or not?

regularsaver1

Emmzi wrote:

Hi, I would get some legal advice from citizen's advice. It seems a harsh way of procedding to me, and agreeing a temporary repayment amount (nterest only?) may be possible to ease your current situation - but to help you with the stress this must be causing, I would seek guidance.

It seems odd to me that it is secured against the house - usually you would have to sign paperwork for this, and if you can't remember doing that, and an associated solicitor's fee, it seems unlikely. Do they perhaps mean they have a charging order, made when you defaulted? Has it gone to court? Can you dig out your original loan application and see if it says it is secured or not?

I agree with Emmzi - if it was secured usually you would had to have signed forms for the deeds. Have you approached the loan company again directly to make an arrangement?

montrose5

Get all your paperwork together and keep it up to date.Any further contact should be by registered letter (you have proof of delivery and they can deny receiving a phone call).No judge is going to grant an eviction for the sake of £4000.Work out a repayment schedule you know you can afford and offer this to them(shows you are willing).Go and see CAB who are really helpful and will point you in the right direction. If the firm sends anybody to your house you are under no obligation to let them in without the relevant paperwork from a court
Most important don't panic, there is help out there.

rose07

hi dedgrtn

no probs its what we are all here for at mse.

how are you doing?

just checking in to see your progress, looks like there is more luck out there by the look of other posts.

i agree with montrose 5, i realli dont think they can just get rid of you, keep all paperwork and contracts, etc together and maybe ask the company what they want from you, they may be trying to scare you, im not sure.

hope you ok

see if you can contact someone for some legal advice.

take care
x

dedgrtn

Hi everyone,
Thanks for all the advice, I feel a lot better now. I will try to get to the CAB as soon as I can. I don't remember a solicitor being involved but will dig out all the paperwork. I have contacted the company's solicitors and they have forwarded my letter to the company so hopefully they will decide to give me time to repay the interest only for now and then settle in full when I'm able to. I thought it was a bit harsh for £4000 but then some companies are sharks!.

Thanks for your concern Rose. I feel better now I've read the replies here. I can certainly do without the stress, I have enough of that. I've also written to the court explaining my situation to them. I'm hoping that as I've had cancer they will order me to pay as much as I can each week.

Thanks again everyone, I'll keep you updated.

Take care,
Love D