Can anyone give me some advice?

sjlb

Hi
Myself and my husband are in a DMP with Payplan, most of our creditors have agreed to stop interest and reduced payments which is great so we can get ourselves on our feet again, The problem being Natwest we have an Overdraft with them and also a Mortgage with them which is all up to date except last month when the new direct debit was set up there was an error but as soon as I realised I paid them and called them and they said it was fine so I thought no more of it, but it is all up to date.

Yesterday I had a letter from them telling us we have 10 days to arrange a suitable repayment plan for our Overdraft and our Mortgage or they will take action to recover the money I have spoken to them and the person dealing with my account is on holiday so I have to wait until next Thursday to speak to them, I am so worried that they will try and take our house, are they just trying to scare us into making an arrangement with them? Spoken to Payplan but they said they cannot advise on Mortgages, Has this happened to anyone else?

Any advice is greatly appreciated. Thanks

Tixy

Hi

Why was the overdraft not included in your DMP originally?
Was it the mortgage DD that was paid late do you mean?

podperson

Hi sjlb,

Just to clarify, you were up to date with the mortgage payments and the last one was late? Omg they seem to be overreacting!!
Please don't worry about this, there is no way they can take your house over one late payment and to be honest I think they are breaking several regulations by being this heavy-handed about it.

Basically the process is they would need to make reasonable effort to come to an arrangement with you - if they could show that you had not been willing to do this they could take you to court.
The court would look at your income and expenditure and generally assess what you could afford to pay.
If you refused to stick to this payment plan the mortgage company could then take you to court again and ask for repossession.
As you can see it is a long drawn out process and with new government guidelines the mortgage needs to be seen to be making every effort to come to an arrangement with you.

All they will do at the moment is ask you to sort out a payment arrangement with them, as long as this is sorted and you stick to it they have no reason to take you to court.

sjlb

Thank you for your reply. I think they are trying to scare me into contacting them, It bloody worked! I explained I am willing to pay my mortgage and can do so, just need help with the overdraft, which I am willing to pay, to be honest they were really helpful when I called, just need to wait until next week for my telephone appointment. It's just the worry of waiting.....

Our overdraft is in the DMP but payplan have received no reply from them yet... yeah the mortgage DD was a couple of days late a mess up with the new direct debit instruction, but its all up to date.