Bank manager came to my home and threatened me !

chef002

- doing a phd at 20 , and you couldn't handle this situation? Ah, no.... way (or waah) 'bye

Radiantsoul

You have been angry for 15 years and have finally resorted to moaning about it on an internet forum?

mooshy1

well I won't be taking it any further I'm just interested . haven't got the time to do anything else tbh . Do you do THIS full time then rad and chef .How very clever you are ! Roflol

dunstonh

my husband said he still has a letter in the loft after we gave him the keys .

I have seen a number of times over the years that couples keep bad financial information from each other. Your house doesn't just get repossessed. Warnings are issued, it goes to court and you get a chance to put your side across. If none of that appeared to happen to you then chances are it happened to your spouse/partner who kept you out of the loop.

opinions4u

You had a joint mortgage.

You couldn't keep up with the payments and fell in to arrears.

The bank asked you to repay the arrears over time.

While you achieved this some months, you failed other months, so the arrears increased.

You had other debts you couldn't afford.

The bank told you to surrender your endowment policy - most likely in line with the T&Cs of your mortgage - and pay the proceeds off the arrears.

You did. But you still couldn't afford the mortgage and ended up handing the keys in.

I'm not quite sure what the problem is. Other than getting personal service along the way.

looking back I should never have sold my endowment

Well if you couldn't afford the mortgage payments, I'm amazed you think you could have afforded the endowment payments.

Bank manager came to my home and threatened me !

Your post doesn't actually say how he threatened you.

holly_hobby

Taking things at face value, it sounds dreadfully distressing, so lets look at this factually.

You fell into arrears on your 100% mortgage - and the branch manager & 2nd witness - visited your home to discuss a repayment plan.

This as already stated by Duns. is quite normal practice - one could argue that there should have been an appointment in place - but the failure to have arrived on appointment (and you accepting the visit), on its own merit, would not make the pursance of the bank for a repayment schedule, to be rendered unlawful.

You say he told you that you would need to sell/surrender your endowment to pay the arrears.

If you had no or little capital to make in roads into the arrears - this is another quite normal proposal that would have been made by the bank. You would have got little for it, as it can't have been in force for too many yrs when you sold/surrendered it (considering you say you were 20 when this episode occured).

The manager essentially advised you, that taking the keys back (voluntary reposession) was your only escape route

Again if the manager could see no way out of this for you, it would be the logical step. However, in obtaining possession this way, he saved the bank legal fees of pursuing through the courts for a poession order.

Putting all that to one side, it would be argued by the bank, that you had 3 yrs from the event (15 yr longstop) to make a formal complaint regarding the matter. Your failure to do so would infer acceptance - unless you have a solid legal argument that would persude a court otherwise.

I will be honest, and say that there are several reasons why I feel there is nothing to be gained in trying to pursue this matter - and I would take comfort from the fact, that having been through the nightmare that losing a house can bring, you would ensure that you were never placed in that position again.

Put this to bed and move onwards and upwards ..

Hope this helps

Holly

PS - have just re-read - and whilst I was writing, O4U has posted some similar points ... so apols for any duplication ... H

opinions4u

holly_hobby wrote: »

PS - have just re-read - and whilst I was writing, O4U has posted some similar points ... so apols for any duplication ... H

Yeah, but your pink font is miles sexier .

holly_hobby

opinions4u wrote: »

Yeah, but your pink font is miles sexier .

Why thank you ...

H

poet123

So, at 20 you were doing a PhD? You must have been a very bright student to have got to that academic level so young, what is your subject?

Swatina.Consultancy

I think you smell money as you must have done for PPI