repossession, but why? not being reasonable

space_rider

I couldnt go back to work after having a baby with a congenital syndrome. I did get a months in arrears and had to wait almost 6 months before the dss would pay my interest. My building society did accept a repayment plan until I had paid my arrears. I don`t know what I would have done if they had been as unsympathetic as your company.

Dan_Collins_2

alexandlee wrote: »

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

I did not day that lender repo with 1 months arearrs I am talking about clauses. However if the mortgage was freud they can, seen it happen in a brokers office in our town, feel for the brokers left as the company is now being taken to bits before lenders will let them write business again.

Mary_Hartnell

Freud ???? Austrian shrink?
Application fraudulent ??

EdInvestor

....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.

I'm sure millions would love to know how this was achieved, as cashing in old pension plans is not allowed.

dunstonh

EdInvestor wrote: »

I'm sure millions would love to know how this was achieved, as cashing in old pension plans is not allowed.

Good spot.

I am still doubtfall that we have the full information to hand and what we do have has a few holes in it.

TotallyBroke

EdInvestor wrote: »

I'm sure millions would love to know how this was achieved, as cashing in old pension plans is not allowed.

Hi I had a company based pension. Several years after I had left the company I received a letter saying they were moving to a different company to supply the company pension. I had not paid anything into it from the time I left. I had a choice I could move it to the new company or I could get the money back. I chose to take the money as was in difficulty. The settlement figure arrived minus the tax that I had to pay and the only clause is I'm not allowed to start another pension for a year.

Dan_Collins_2

Anyone seen my spell checker?? LOL

Mary_Hartnell

EdInvestor wrote: »

I'm sure millions would love to know how this was achieved, as cashing in old pension plans is not allowed.

Come on you experts, isn't there a concept of a trivial level of pension, where the punter is allowed to take the whole lot as a lump sum (and later throw themselves on the mercy of the state guaranteed minimum income) ?

That is without getting involved in the shenanigans that happen down at the "can't pay, won't pay" level of income, where people are forced to rob Peter to pay Paul, and to hell with the future?

Dan_Collins_2

I am so glad I have never gone near pensions, one big mess!!

dunstonh

I am so glad I have never gone near pensions, one big mess!!

Funny. I say the same about mortgages

Pensions are not that bad. Problem is the term "pension" actually covers many different types of schemes and people dont realise the differences. Media doesnt help either by giving the impression that pensions are going down the swanny. Yet the exact same investments that are available for ISAs are available for pensions. There are issues but they impact on a minority (in percentage terms). But you wouldnt believe that from the coverage.

I'm not sure how trivial commutation would have helped as that is available after age 60 and subject to a tax charge and can only be taken if all pensions you hold are valued less than £16,000.