repossession, but why? not being reasonable

chivers1977

Dan_Collins wrote: »

I believe a few lenders have a 1 month arrears clause, I think the woolwich can repo after 1 month.

However I think with out knowing more I would say call the FSA. They will take this seriously and no need to mess about writing to anybody. The FSA will contact the lender direct. Who is the lender by the way?

Dan, Woolwich don't even charge arrears fees until two full months have been missed let alone take possession proceedings.

Spudwud

It's ridiculous for anyone to suggest that any lender would or indeed could, take repo action for 1months arrears, it's just not gonna happen and they'd suffer defeat in pretty much every court across the land. Do you think a judge is gonna let someone lose their home for 1 missed payment? Ridiculous

Dan_Collins_2

chivers1977 wrote: »

Dan, Woolwich don't even charge arrears fees until two full months have been missed let alone take possession proceedings.

Must have changed but I am sure there terms allow it, I am on only going by what I have heard. Also they can apply but it may not be given. If a fraud case is put forward bang pay up or repo!

homer_j_3

Who is the lender?

alexandlee

One could end up being 1 month in arrears due to a messed up bank and direct debit change - just think how many repossessions orders could be started if all lenders tried to adopt that approach

little_miss_spender

my first mortgage company is GE Money who just wont accept or acknowledge my letters or agree to any repayment proposals for the arrears which are now just one month payment in arrears plus £162.00 they have added on in fees and charges. The last letter I received from them was very unsympathetic and the was from the manager of their collections department and she stated that they would accept my payments of £40.00 off the arrears, but they would continue to charge me £50.00 per month admin fees as this is in my agreement and i have broken my agreement so tough basically. She also stated that if and when they decide to take me to court (re following their procedures) which are obviously set in stone, and they will go for repossession. Unless by this time I have paid the arrears in full. She also stated if i decide to remortgage with another company they would charge me £6,980.00 on top of my arrears, and on top of the outstanding mortgage balance. If i chose to do this. As i have stated i have been with this company for 6 years and never been in arrears or even late with my payments until june this year and this is how i am treated. i just want them to stop adding the fees and let me make my arrears go down. I dont want much. They have had all my appointments for hospital, they have all the letters from tax credits and income support. they are also getting £565.00 per month from income support towards my mortgage payment this is paid direct to them. and i make up the rest so what is there problem i just want to have peace of mind that they accept my offer and they are going go stop the fees and are not going to suddenly take me to court my nerves cant stand it much longer. They have had 10 letters from me and not one except the last one was acknowledged except for an automated response which said we have got your letter and we will write back in 20 days which they never did . Thank you for any advice you can offer i am going out of my mind. LMS

silvercar

So it seems you have to find your monthly payments as normal plus a £50 charge for being in arrears plus £40 arrears payment each month. And then they won't repossess. Have I read this right?

So they have reached an agreement with you (as previous paragraph) and if you keep to that then they won't take you to court.

If you break that agreement then they will go to court. Although they will go for possession I imagine the result will be a suspended possession order ie you keep to whatever agreement is decided at court and they won't repossess. You don't keep to, what will then be, the second agreement you have reached with them and again you don't get repossessed.

Fail to keep to that and you will be repossessed.

Mary_Hartnell

I feel really sorry for you situation.

I know it is too late now, but I regard both of you mortgagees as "sub prime".

GE money seem to be demonstrating a ruthless "Yankee" attitude to your circumstances and I just hope you can make it to court and get a sympathetic English judge, who is prepared to spread any arrears over the life of the mortgage. How can a "fine" of 50 GBP a month be justified?

Please tell us how you ever came to get into the hands of these two companies?

Mary.

TotallyBroke

A couple of years ago I too missed a payment and was subsequently charged arrears fees. This continued over a couple of years as every extra payment I could afford to make was just paying off the charges and not the original mortgage payment. Anyway to get to the point. I agreed with Woolwich a repayment plan (when finances a lot better) off mortgage payment £400 p/m and arrears payment of £200 p/m. This was going ok for a couple of months when they decided to take me to court for a possession order! The b***ar*s!! We went to court and the judge basically said he couldn't understand why we were here because a payment plan was inforce and was working. He reduced the extra payment down to £100 p/m and said we would meet again to see how the new plan was going. He did say that if I defaulted the possession order would automatically be granted. 6months down the line and everything was the same only this time I told them I was cashing in an old pension plan and would pay the arrears off in one go once the money had arrived. This I did the month before we agreed.
So on the basis of my experience if there is a payment plan in place the Judge shouldn't grant the possession order. But I would strongly recommend that once s/he decides this you ask him to not make you liable for the court costs. My ignorance of the legal system proved to be my downfall. I presumed because they had taken me to court and did not win the possession order they would be liable. But no the b***ar*s said because I didn't ask the Judge to award the costs to Woolwich I have to pay them. So they added £800 to my arrears and won't it back without me having to go to court and possibly winning against them.

Conrad

Littlemissspender,

Whilst you may well have illness you need to keep in mind that we all face such challenges at one time or another (including lenders staff) yet only a small percentage get into arrears (I thinks its 1 out of every 950 people with Nationwide BS for example).

My son was very ill when born and I went out of my mind but I still paid my mortgage. That does'nt imply I'm saintly, but it does go to show that most of us facing such tough times will still accept our financial responsibilities.

Imagine your boss wanted to pay you halve your wages because he was ill. You might sympathise but you certainly would not accept 1/2 your wages. A lender collects the wages for thier investors. Why should thier investors be 1/2 paid by you?