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FYI, you will probably clear the mortgage debt - unless they have done a dea, between them and I can't see why they would have, the secured loan is a second ranking charge - i.e. it does not get a penny paid off until the first charge (the mortgage) has been paid. Have you had correspondence with the secured loan charge holder and have they said what they want to do about your loan that will now not be secured against anything (and do you have that in writing).
The good news is that you will not have the mortgagee to worry about, but you need to be certain what's going on with the second chargee....0 -
CLAPTON wrote:presumably you have opened new bank a/cs with people you owe nothing to?
if you wish to post an SOA maybe people could help a little
I have an account elsewhere that I don't owe anything - It's hard to believe, but I do have 1 current account I never incurred a charge on :beer:Lloyds TSB (C.Acc)- £2067.00 - Prelim 29/12/2006 - NatWest - £407.00 - Prelim 29/12/2006 - Lloyds TSB - Loan - S.A.R 15/12/2006 - Lloyds TSB Credit Card - S.A.R 15/12/2006 - MBNA Credit Card - S.A.R. 15/12/2006 - Capital One - S.A.R. 15/12/2006 - Halifax Credit Card - S.A.R 15/12/2006 - C&G Mortgage - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
My Wife: - NatWest Current Account - £409.00 - Prelim 30/12/2006 - Capital One - S.A.R - 15/12/2006 - Argos Additions - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006:T Proud to be dealing with my debts :T0 -
moozie wrote:Hello and welcome
Sorry things got to this point for you but way to go for trying to turn things around. It is great that you are pursuing the route of claiming charges however, it would be best to look at all angles of your situation, including increasing your income, reducing your outgoings and learning from this experience.
As others have said, if you post your soa, we will be only to pleased to help
Keep going!
Apparently the sale is to be completed now in January. The mortgage will be cleared totally. I rung Paragon Personal Finance the other day to give them our new address so they can forward any correspondance, but they have not sent anything as yet. I am dreading the letter..... but when I get it - I know they are getting the claim started for their charges .... currently running around 2K for letters and phonecalls, but I don't have the last 8 month's statements.
I will be in a better position to post a SOA as soon as we know where we stand with the sale of the house and exactly what we owe.Lloyds TSB (C.Acc)- £2067.00 - Prelim 29/12/2006 - NatWest - £407.00 - Prelim 29/12/2006 - Lloyds TSB - Loan - S.A.R 15/12/2006 - Lloyds TSB Credit Card - S.A.R 15/12/2006 - MBNA Credit Card - S.A.R. 15/12/2006 - Capital One - S.A.R. 15/12/2006 - Halifax Credit Card - S.A.R 15/12/2006 - C&G Mortgage - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
My Wife: - NatWest Current Account - £409.00 - Prelim 30/12/2006 - Capital One - S.A.R - 15/12/2006 - Argos Additions - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006:T Proud to be dealing with my debts :T0 -
Rachman wrote:FYI, you will probably clear the mortgage debt - unless they have done a dea, between them and I can't see why they would have, the secured loan is a second ranking charge - i.e. it does not get a penny paid off until the first charge (the mortgage) has been paid. Have you had correspondence with the secured loan charge holder and have they said what they want to do about your loan that will now not be secured against anything (and do you have that in writing).
The good news is that you will not have the mortgagee to worry about, but you need to be certain what's going on with the second chargee....
As I said in my post above, we have not heard from Paragon yet. They will have to accept the fact that it will be unsecured, as I have NOTHING to secure it against.Lloyds TSB (C.Acc)- £2067.00 - Prelim 29/12/2006 - NatWest - £407.00 - Prelim 29/12/2006 - Lloyds TSB - Loan - S.A.R 15/12/2006 - Lloyds TSB Credit Card - S.A.R 15/12/2006 - MBNA Credit Card - S.A.R. 15/12/2006 - Capital One - S.A.R. 15/12/2006 - Halifax Credit Card - S.A.R 15/12/2006 - C&G Mortgage - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
My Wife: - NatWest Current Account - £409.00 - Prelim 30/12/2006 - Capital One - S.A.R - 15/12/2006 - Argos Additions - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006:T Proud to be dealing with my debts :T0 -
If you've already lost your home, would it be just as easy to go for bankruptcy now???Illegitimi non carborundum.0
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BettiePage wrote:If you've already lost your home, would it be just as easy to go for bankruptcy now???
I don't know is the honest answer. I don't know what the implications would be for us and how it would affect our position and circumstances.
I think once we know what they are going to do as far as the house is concerned, we'll be able to make a better decision and get the right advise.Lloyds TSB (C.Acc)- £2067.00 - Prelim 29/12/2006 - NatWest - £407.00 - Prelim 29/12/2006 - Lloyds TSB - Loan - S.A.R 15/12/2006 - Lloyds TSB Credit Card - S.A.R 15/12/2006 - MBNA Credit Card - S.A.R. 15/12/2006 - Capital One - S.A.R. 15/12/2006 - Halifax Credit Card - S.A.R 15/12/2006 - C&G Mortgage - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006
My Wife: - NatWest Current Account - £409.00 - Prelim 30/12/2006 - Capital One - S.A.R - 15/12/2006 - Argos Additions - S.A.R - 15/12/2006 - Littlewoods - S.A.R - 15/12/2006:T Proud to be dealing with my debts :T0 -
You need to seek professional help. CAB maybe?moneyfools wrote:I don't know is the honest answer. I don't know what the implications would be for us and how it would affect our position and circumstances.
I think once we know what they are going to do as far as the house is concerned, we'll be able to make a better decision and get the right advise.Illegitimi non carborundum.0
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