is the house safe .

rewoods

the wife and i are going through vol br , we was in a iva but we had a phone call from c,a to tell us it wasnt the right thing to do and vol br was .

so after a lot of talking to each other and family we decided to go for it, it seems to be the best way out for us , we owe creditors 30k , the bills was being paid when the wife was working but she fell pregnant in 2006 after 15 yrs of trying and 4 go,s of ivf whitch cost us 18k which didnt work for us so we gave up cos we was told she wouldnt fall naturally, so we spent money on the house , car, holidays ect ect , but in 2006 she fell pregnant naturally we was over the moon all our dreams had come true at last .

the wife gave up work to look after the baby , i had a well paid job and we were just about getting bye , yes it was tight but we managed , then i lost my job but got another one a wk later but the pay was less about 8k a yr thats when it started going down hill ,

the creditors wernt being payed we was juggeling money around but no good , the every day d,d were getting paid and i made sure the morgage was paid .

but now we are at this point and going through vol br , so what i would like to no is , we have never missed a payment or been late paying the morgage we have no equity in the house and have been told becouse of that we wont lose the house , could any one verify this for us ,,,,

many thanks .

tigerfeet2006

Sorry I don't understand who has said you should go BR, could you clarify that for me.

Under the new rules the OR will not think about the house until 2 years and 3 months after BR. They will then look to see if there is any equity in the property and will then offer you the chance to buy the equity off them. If there is no equity then the OR's interest in the house will be transfered back to you.

As long as your mortgage at the moment is not excessive and you can afford to pay it and any secured debts on it then you will not be made to move into rented.

rewoods

hello tigerfeet2006

consumer action contacted us and went through it and said we was missold an iva , so after a long discussion we went with them .

i am new at this so what dose OR mean pls

thanks rewoods

tigerfeet2006

Ah! CAG, cheers for that.

OR=Official Reciever. The person who deals with your case.

dancingfairy

Hi - it might be worth checking around your area or getting an agent to give you a quick sale valuation to get a good idea of what your house is worth.
Also it might be worth chatting things throug with one of the debt charities such as your local CAB, National Debtline or CCCS.
Good Luck
df

rewoods

hi dancingfairy

we have two quotes from local estate agents and thay are well below the price of our morgage ,

thanks

BB&B

rewoods wrote: »

hello tigerfeet2006

consumer action contacted us and went through it and said we was missold an iva , so after a long discussion we went with them .

HALT STOP DO NOT MAKE ANOTHER MOVE.

First things first the Consumer Action Group, would NOT contact you about an IVA, they are NOT a company!!

So I assume you are talking about consumer action to be found at www.consumeraction.org.uk and not the Consumer Action Group (to be found at www.consumeractiongroup.co.uk ).

They are about to charge you significant amounts of money for a service that you can do free of charge, and they do NOT have the relevant licences to carry out this trade. And if you do not have this you will find they will put a charge on your property to effectively secure their funds from you)

They are NOT are a registered company
They do NOT hold a CCA licence
They do NOT hold a data protection registration.
(All these are required to be available on their website!)

I also believe that they have already been warned (by OFT) about implying that they may be associated (by virtue of name) with a reputable consumer debt forum.

Please BEFORE you take another step talk to the National Debt Helpline, CCCS, PayPlan or CAB about this group (and make sure you explain it is not the CAG group you are talking about!!!!)

Tim

BB&B

A Bit of an update for you regarding Consumer Action.

It is understood that the people who are behind this were behind a group who called themselves UK Bankruptcy Ltd, who were compulsory wound up.

Further it is understood that the same people were behind both the IVA Consumer Action and the IVA Council, both of which were formally wound down after sever pressure from the Insolvency Service, Ministry of Justice and Office of Fair Trading.

Though this was in December 2010, there site now automatically redirects to yet another bankruptcy site, with a very minor name change to avoid officialdom!!

All I will add is
Caveat emptor


Tim

tigerfeet2006

Thanks Tim. Didn't think this was the way CAG operated but wasn't 100%.

Rewoods please ring one of the debt charities please.

dancingfairy

That would make sense as to why I was confused then. That's why I suggested getting additional advice as I didn't think CAG gave debt advice - now I know they don't.
I supose one of the giveaway phrases was ' Consumer Action contacted us' as real debt charities don't exactly go around phoning people up on the off chance do they?
df

now

Please heed the advice given and deal only with the charities as per the stickies.

Thanks Tim etc, this board is a life saver for some