Mis sold loan from wife.

redpete

Valli wrote: »

I suggest you post a SoA

Ok, here goes:

Household Information
Number of adults in household........... 1 - she's so childish
Number of children in household......... 3 - all mine apparently
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 2330 - what's mine is hers, what's hers is hers
Benefits................................ none that I can find
Other income............................ 0
Total monthly income.................... 2330

Monthly Expense Details
Mortgage................................ 620 - for "our" house
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120 - yes, we do pay over 12 months
Electricity............................. 45 - no it's not worth switching
Gas..................................... 54 - no it's not worth switching
Oil..................................... 0
Water rates............................. 41 - yes we do pay over 12 months
Telephone (land line)................... 23
Mobile phone............................ 80 - her iPhone, my nokia 6100
TV Licence.............................. 0 - we've got away with it so far
Satellite/Cable TV...................... 85 - AND?!
Internet Services....................... 5
Groceries etc. ......................... 450
Clothing................................ 500 - no she can't shop in Primark
Petrol/diesel........................... 10
Road tax................................ 0 - we've got away with it so far
Car Insurance........................... 0 - we've got away with it so far
Car maintenance (including MOT)......... 10
Car parking............................. 80 - need to park in a secure car park, only way I get a good night sleep (on the back seat)
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 39
Contents insurance...................... 0
Life assurance ......................... 120 - on my life?
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 60
Entertainment........................... not much
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. too much


Assets
Cash.................................... 10
House value (Gross)..................... 362000
Shares and bonds........................ 0
Car(s).................................. 150
Other assets............................ 0
Total Assets............................ 362160


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 240000...(620)......2.5
Total secured & HP debts...... 164000....-.........-

Unsecured Debts
Description....................Debt......Monthly.. .APR
credit card....................0.....0.......0
WFI loan...........................10......0.5...... .200

Total unsecured debts..........10......0.5.......-


Monthly Budget Summary
Total monthly income.................... hers
Expenses (including HP & secured debts). mine
Available for debt repayments........... 0.5
Monthly UNsecured debt repayments....... 1.5
Amount short for making debt repayments. misery

Personal Balance Sheet Summary
Total assets (things you own)........... 20

Valli

Mupette wrote: »

OMG i am surprised no one here has mentioned from the T&C that any data will be shared for market research with, MiL conglomerates, or FiL pityful looks corp as MIL conglomerates own and control it.

I refer you to post 14 where it was pointed out (by me, obviously) that WFI does NOT abide by the T&Cs of the Data Protection Act:cool:

Tixy

Its obvious what the problem is

redpete wrote: »

Clothing................................ 500 - no she can't shop in Primark

Clearly this will be split approx £480 her and children, £20 you.

You need to reduce spend on your clothes to 83p a month (wife and kids allowance is fine).

Also you can reduce your spend on the nokia 6100. Very extravagant of you to have a phone that can make outbound calls. You only need one that can accept incoming calls from OH.

Valli

redpete wrote: »

Ok, here goes:

Household Information
Number of adults in household........... 1 - she's so childish While I agree with the NUMBER of adults I'm sure the GENDER cannot be correct
Number of children in household......... 3 - all mine apparently No apparently. She says they're yours. they're yours. End of.
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 2330 - what's mine is hers, what's hers is hers Glad to see you have a good understanding on the allocation of the income stream. Any chance you could increase it? Overtime? Second job?
Benefits................................ none that I can find Look harder
Other income............................ 0
Total monthly income.................... 2330

Monthly Expense Details
Mortgage................................ 620 - for "our" house
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120 - yes, we do pay over 12 months
Electricity............................. 45 - no it's not worth switching agree
Gas..................................... 54 - no it's not worth switching agree
Oil..................................... 0
Water rates............................. 41 - yes we do pay over 12 months
Telephone (land line)................... 23
Mobile phone............................ 80 - her iPhone, my nokia 6100
TV Licence.............................. 0 - we've got away with it so far
Satellite/Cable TV...................... 85 - AND?! suggest you lose some channels. Sky sports for instance. If you're working two jobs you won't have time anyway
Internet Services....................... 5
Groceries etc. ......................... 450 Check the Drop-a-level threads in old style. Try some BASICS and VALUE lines
Clothing................................ 500 - no she can't shop in Primark
Petrol/diesel........................... 10
Road tax................................ 0 - we've got away with it so far
Car Insurance........................... 0 - we've got away with it so far
Car maintenance (including MOT)......... 10
Car parking............................. 80 - need to park in a secure car park, only way I get a good night sleep (on the back seat) I'm sure you could cut this.
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 39
Contents insurance...................... 0
Life assurance ......................... 120 - on my life?
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 60
Entertainment........................... not much
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. too much


Assets
Cash.................................... 10
House value (Gross)..................... 362000
Shares and bonds........................ 0
Car(s).................................. 150
Other assets............................ 0
Total Assets............................ 362160


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 240000...(620)......2.5
Total secured & HP debts...... 164000....-.........-

Unsecured Debts
Description....................Debt......Monthly.. .APR
credit card....................0.....0.......0
WFI loan...........................10......0.5...... .200

Total unsecured debts..........10......0.5.......-


Monthly Budget Summary
Total monthly income.................... hers
Expenses (including HP & secured debts). mine
Available for debt repayments........... 0.5
Monthly UNsecured debt repayments....... 1.5
Amount short for making debt repayments. misery

Personal Balance Sheet Summary
Total assets (things you own)........... 20

I'm only a dabbler on the DFW threads so these are initial suggestions until someone with more experience pops by. HTH

lawrie28

pelirocco wrote: »

I heard the loan applicants wanted that clause added , but were quickly over ruled by the directors of WFI;)

I think you may have this the wrong way round. I'm sure the applicants would like WFI to suck, but have found this to be a clause which is hard to include in the agreement.

I've heard this is a standard clause in Husband Finance Inc (HFI) which is available in a limited number of households mainly where the Thumb attachment that was fitted to the top of the head at point of "I do" has gone faulty.

lawrie28

redpete wrote: »

Ok, here goes:

Household Information
Number of adults in household........... 1 - she's so childish
Number of children in household......... 3 - all mine apparently
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 2330 - what's mine is hers, what's hers is hers
Benefits................................ none that I can find
Other income............................ 0
Total monthly income.................... 2330

Monthly Expense Details
Mortgage................................ 620 - for "our" house
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120 - yes, we do pay over 12 months
Electricity............................. 45 - no it's not worth switching
Gas..................................... 54 - no it's not worth switching
Oil..................................... 0
Water rates............................. 41 - yes we do pay over 12 months
Telephone (land line)................... 23
Mobile phone............................ 80 - her iPhone, my nokia 6100
TV Licence.............................. 0 - we've got away with it so far
Satellite/Cable TV...................... 85 - AND?!
Internet Services....................... 5
Groceries etc. ......................... 450
Clothing................................ 500 - no she can't shop in Primark
Petrol/diesel........................... 10
Road tax................................ 0 - we've got away with it so far
Car Insurance........................... 0 - we've got away with it so far
Car maintenance (including MOT)......... 10
Car parking............................. 80 - need to park in a secure car park, only way I get a good night sleep (on the back seat)
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 39
Contents insurance...................... 0
Life assurance ......................... 120 - on my life?
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 60
Entertainment........................... not much
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. too much


Assets
Cash.................................... 10
House value (Gross)..................... 362000
Shares and bonds........................ 0
Car(s).................................. 150
Other assets............................ 0
Total Assets............................ 362160


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 240000...(620)......2.5
Total secured & HP debts...... 164000....-.........-

Unsecured Debts
Description....................Debt......Monthly.. .APR
credit card....................0.....0.......0
WFI loan...........................10......0.5...... .200

Total unsecured debts..........10......0.5.......-


Monthly Budget Summary
Total monthly income.................... hers
Expenses (including HP & secured debts). mine
Available for debt repayments........... 0.5
Monthly UNsecured debt repayments....... 1.5
Amount short for making debt repayments. misery

Personal Balance Sheet Summary
Total assets (things you own)........... 20

This can't be right - you have an asset left? Surely this needs more work!

Valli

lawrie28 wrote: »

This can't be right - you have an asset left? Surely this needs more work!

I think the client is under the impression he still has control over this asset because his contractual relationship with WFI is ongoing. In the event of termination of the contract, or even if the possibility of termination is mentioned WFI will seize FULL control of any assets.

Mupette

Valli wrote: »

I refer you to post 14 where it was pointed out (by me, obviously) that WFI does NOT abide by the T&Cs of the Data Protection Act:cool:

Ah yes but ofcourse WFI will aways work with MiL for any information with potential borrowers... any risks involved.

But from what i heard when WFI was just mere small Potential Girlfriends grp, ignored a lot of advice from Mil, but since the shakey start, Potential Girlfriends have tried various Possible Boyfriends with disasterous results, but once they took over Husband under the thumb industries, had started listening and taking sound advice from MiL since then WFI has gone from strength to strength.

Mupette

Valli wrote: »

I think the client is under the impression he still has control over this asset because his contractual relationship with WFI is ongoing. In the event of termination of the contract, or even if the possibility of termination is mentioned WFI will seize FULL control of any assets.

I am sure there is a pull out clause... its not wise to, there is definately a penalty for this somewhere.

niamhirl

I'm a recipient of MPFI Male Partner Finance Incorporated.
So far it has been very reasonable. However I am concerned that I may be being lured into a situation where interest rates become unmanageable.

I asked for a £20 loan and was given £30 - there was also a suggestion that I could pay the loan back in kind, but he refused to give T&C of this arrangement in writing.