Northern Rock

jpwhittle

im sorry but i think this is very unfair. we have our mortgage with northern rock and a loan and if this goes worst case im petrified of what it will mean for us.
just because some have had had bad experiances doesnt mean everyone should suffer. you always here the bad stories and not the good.
why should i be the one to end up in a mess because some people have had bad experiances.
i cant even get out from them we only got the mortgage 11 months ago so right now this is a little worrying.

yellowmonkey

Hi.

Not attached to Northern rock in any way. Just like to say that apparently there are large queues devoloping outside their branches at the moment.
I would also like to say that jpwhittle's post shows that there are 2 sides to every story regardless of everyone's personnal experiences.


ym

harryhound

This will not help, but my thoughts are here:

http://forums.moneysavingexpert.com/showthread.html?p=6279742#post6279742

SWS_2

Yes, I'm glad some people are OK Just hope they don't have any money problems in the future, I wouldn't wish the last year I've had on anyone.

Conor_3

SWS wrote: »

Well said James, I expect you may have seen the tale of my troubles with NRock on this website, constant hounding and threatening to take our home as we are on a DMP with CCCS but they no longer accept we are in financial difficulties as we own a home and therefore are petitioning for a Charging Order without default on a CCJ. I would have loved the Bank of England to have turned round to them and said the same thing as they have been saying to us. Perhaps now they may know what "financial difficulty" is really like, shame we can't all get Bank of England's help.

Did it ever occur to you that a great deal of the trouble they're in is because of people who owe them money welching on the deal? You know, people like you?

Just pointing out that people in glass houses and all that...

I just wonder how long you'd sit around doing nothing if someone owed you £1000's and tried to pay you a few quid a week.

Dr_Hook

Conor wrote: »

Did it ever occur to you that a great deal of the trouble they're in is because of people who owe them money welching on the deal? You know, people like you?

Except it isn't - NR's 3 months plus arrears on secured lending is only 0.47%, less than half the industry average. Their cashflow problem is due to an inability to borrow from 'the market' sufficient to cover its new lending promises.

rayday2

From what I gather they are huge mortgage lenders and have smaller amounts of savings they borrow money with the LIBOR system as all banks do. Because of rising interest rates on LIBOR banks are cutting back on lending each other which left NR with only Bank Of England to go to.

And yes even though I am one of them all of us that have defaulted on payments here and in the US are playing a part in this. Of course the govenerment and lenders have to take some responsiblity for lending it too and with the Bank Of England reaction it looks like they are facing that.

SWS_2

Conor as you do not know my personal circumstances I wouldn't pass judgement so readily. I am not trying to get out of paying anything if I was I would have walked away from this ages ago. I wouldn't be working 9 hours a day 6 days a week I would have had several children and sponged off self righteous people like you in my Council accommodation. My critiscism is the tactics NRock have been using to bully people who obviously can't meet the full payments. To have seen my full financial status including mortgage and virtually nil equity in the property and to then call me six times a day including at work and leaving messages with my boss, to say that they do not accept that I am in financial difficulty is really rather taking the mickey...

cheets99

Tbh I would take my money out, better in your hand then some company, I mean NR got greedy and its come back to haunt them taking on subprime and giving out loans like they where going out of fashion, its time when loans/credit cards are banned from people with mortgages, they have a house so let them take money out on the house and not loans/credit cards, I think if people knew could only take money out on there house they would think twice.

james23_uk wrote: »

Ha ha ha - you've got to laugh at these NR a**holes havent you. What goes around comes around eh?! It's just a shame that when the !!!! hits the fan for them they have a sympathetic ear to help them out rather than the way they treat their customers.

I hope they go under (and no I've never had debt with them - I've just heard the stories).

Thats naive aint it, you had £60k of debt then get half of it wiped off, you have to earn money you know.

Jolinar

jpwhittle wrote: »

just because some have had had bad experiances doesnt mean everyone should suffer. you always here the bad stories and not the good.

Personally speaking i wouldn't want to see them go bust, that would be bad for the whole economy in all likelihood. I'm just enjoying watching NR sweat a little right now. They won't let them go bust from what i'm seeing on the news so please don't worry.

As for the welching comment, I've repaid every penny i owe NR as will most people that are/have been on a DMP.