repossession, but why? not being reasonable

EdInvestor

I'd have thought that the only way Totally broke could have got the pension back is if she had left her company less than 2 years ago.It is allowed to take contributions back minus tax from an occupational pension if you spent less that 2 years at the company.

Merlot

Conrad wrote: »

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 doesn't 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 their investors. Why should their investors be 1/2 paid by you?

Conrad, well said.

Just this week my neighbours have been repossessed after being a couple of months in arrears with the mortgage, Mrs neighbour is currently receiving chemo for Breast Cancer (Critical Illness didn't pay out - why, I don't know?, the husband went bankrupt in March, so maybe they didn't pay the premiums or something) and the judge didn't take her illness into account as they had no way of keeping up any payments on the mortgage, the house had been transferred into her name last Christmas, and they are out, the house went up for sale today £10,000 less than the market value. I am sorry to the OP, but whether you are ill or not you still have to pay your mortgage, or you will have to face up to the cold reality that you could be repossessed.

I agree too, theirs more to this than is being said.

Mary_Hartnell

dunstonh wrote: »

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.

But I have seen sleazy little adds in some of the "red top" papers suggesting that if you have some small forgotten old pension you can turn it into a lump sum, from the age of about 50 ? or perhaps earlier. The adds are placed by Grabbit and Runne brokers. How do they work ?

EdInvestor

Mary_Hartnell wrote: »

But I have seen sleazy little adds in some of the "red top" papers suggesting that if you have some small forgotten old pension you can turn it into a lump sum, from the age of about 50 ?

You can take benefits from a pension at age 50, including 25% in cash as a lump sum.Perhaps that's what you man?

(But this doesn't apply to the OP).

TotallyBroke

EdInvestor wrote: »

I'd have thought that the only way Totally broke could have got the pension back is if she had left her company less than 2 years ago.It is allowed to take contributions back minus tax from an occupational pension if you spent less that 2 years at the company.

I left the company over 7years ago now. And worked for them for almost 10years although only paying into scheme for 8. Oh and I'm only 33 not 50 or 60. I'm getting quite worried now as to whether I have done something illegal or if I have messed myself up for the future. As far as I'm aware I am only barred from taking out another pension for a year but some of the later comments are making me think I can never open another pension plan.

little_miss_spender

Hi Silver Car
No they wont agree to anything i can afford. What they want is to carry on adding the £50.00 per month and they will happily let me carry on sending my usual mortgage payment plus my £40.00 off the arrears and they will still take me to court because i cant afford to pay them the £50.00 admin fee every month as well as something off the arrears. They want £200.00 plus off the arrears every month or tough off we go to court, they are unbeleivable...

Merlot

little_miss_spender wrote: »

Hi Silver Car
No they wont agree to anything i can afford. What they want is to carry on adding the £50.00 per month and they will happily let me carry on sending my usual mortgage payment plus my £40.00 off the arrears and they will still take me to court because i cant afford to pay them the £50.00 admin fee every month as well as something off the arrears. They want £200.00 plus off the arrears every month or tough off we go to court, they are unbeleivable...

Hi Little Miss Spender,

Why don't you pop over to the DFW (debt Free board) and we will try and help you cut your expenditure. Have you taken advice on your situation yet from the CAB? I really would advise you to do so, cause this may seem harsh, but there's a real possibly you are going to lose your home.

I don't think you can use your illness as a way of not paying the full mortgage payment, see my post above, my neighbour recently got repro and she is undergoing chemo for breast cancer, what illness do you have?

Another lady on my estate, has had her appeal refused for her critical illness payout, she simply didn't meet their 3 out of 5 things she couldn't do for herself, she is unable to work (apparently) and will lose her house in approx 6 months, she has no way of paying the mortgage and has huge secured loans attached to it.

I'm simply stating that these things happen, you should be covered by critical illness cover/unemployment cover, if not, can you sell the house before you are repro and repay the outstanding mortgage and arrears and then move somewhere smaller. You have to act now, in a few weeks time, it may be too late if they put a possession order on your home, although they would have to go to court to do this.

gravitytolls

Is there any chance, if there is enough equity in the home, that the arrears could be added to teh mortgage, and the term extended, with teh current repayment being used as an overpayment, rather than repayment of arrears.

From their point of view, as well as yours, if there's a good bit of equity, they can be the good guys without risk, even if prices drop.

little_miss_spender

Merlot, Conrad,First of all I appreciate the no bull attitude you have toward my situation. You are quite right you couldnt possibly see the whole picture,because you dont know me and some of you obviously think, i am exagerating,lying, bending the truth, obtained my mortgage by deception, god knows what you people think, I came on this board for help not to be accused of lying or being a criminal. But for all you who have said they wont take me to court, well this morning guess what landed on my mat. You guessed it! the court papers. In their claim they state that i am £700 more in arrears than my calculations which beleive me are correct. They have also stated that they have tried to contact me by phone but i have not been cooperative in agreeing to clear my arrears. They even have the nerve to say they are not aware that we are on income support, but they have been receiving direct payments from them for over 6 months so how do they work that one out. I have been on to the cls and they have been great they have told me to fight them and that is exactly what i am going to do.
I love the way you compare my situation to that of your neighbour,who is getting chemo and i greatly sympathise with her. She should not have had her house repossessed but you speak as if she deserved it. I really hope you never ever find yourself in a position where you can not pay your mortgage, i hope your perfect life where everything is written in stone and what is black is black and what is white is white continues for the rest of your life. But unfortunately for some people they seem to be unable to avoid having more than their fair share of bad luck and whenever they try to crawl back out of the gutter there is someone waiting to put them right back down again. I have said I dont want sympathy, just peoples advice on how they have dealt with similar situations and maybe reassure me that the judge just may see how hard we have been trying to keep everything together and decide to throw the case out. After what these swines have put us through i truly hope they get egg on their faces. I have sorted my other debts thank you. Oh yes and you asked about my illness, first of all I have a mental illness which was undiagnosed for over 20 years until I had a mental collapse after the death of my father. They moved into our home because my mum couldnt cope on her own and my dad could not get up stairs so 7 years ago we remortgaged our home to put disabled facilities in for my dad who gradually became very ill in the last 12 months of his life. I could not and would not put either of my parents in a nursing home because i have had first hand experience of what goes on in these so called care homes and it is not good. My uncle was in one and he was diagnosed as having lung cancer with secondaries to the brain, he was admitted to hospital only to be returned the following day after he had collapsed, I found him lying on a sofa half naked exposing himselft, wearing clothes that werent even his, his mouth dry and cracked, just lying there basically dying. I went mad and got one of the nurses to get him some water he drank almost two pints of water straight off. I finally got him an ambulance and he was taken to hospital and guess what he died off? He obviously died because of the cancer but it was dehydration that was mentioned on his death certificate.sorry i am rambling !!!!!

little_miss_spender

dunstah it is 1 month and £265.00 that is the truth by the time they take me to court it will be less..!!!