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Advice Please
X-man
Posts: 57 Forumite
My step-father passed away in September after taking out a joint loan with my mum a month before he passed away. I have been dealing with his finances since and unfortunately he left no estate. The house was in joint names and therefore transfers to mum, as does the mortgage debt.
I have been in correspondence with the loan company (BOS) in the hope that they may consider writing off the loan debt. They asked for a financial breakdown of my mums income and expenditure, which I forwarded to them at the beginning of November. Her expenditure without the loan repayments far exceeds her income but I am prepared to cover the shortfall to enable her to continue to pay the mortgage and stay in the family home.
I contacted the Bank of Scotland by telephone on 20th November and they said that since the DD had been cancelled (which it hadn’t) and that there was no offer of settlement, they would pass the details to Blair, Oliver & Scott. I have had no written confirmation.
I contacted the Bank of Scotland again today and they stated that the matter was now in the hands of Blair, Oliver & Scott and gave me a phone number to contact them. A quick phone call confirmed that they were now dealing with this matter, so I contacted mum and got her to cancel the Direct Debit to the Bank of Scotland (The first monthly payment was due imminently) I’m now concerned that cancelling the DD may have been the wrong thing to do. I have contacted the CAB and made an appointment to see them but this won’t happen until early in the new year.
Can anyone offer any advice in the meantime? Should I get mum to reinstate the DD until we’ve seen the CAB?
I have been in correspondence with the loan company (BOS) in the hope that they may consider writing off the loan debt. They asked for a financial breakdown of my mums income and expenditure, which I forwarded to them at the beginning of November. Her expenditure without the loan repayments far exceeds her income but I am prepared to cover the shortfall to enable her to continue to pay the mortgage and stay in the family home.
I contacted the Bank of Scotland by telephone on 20th November and they said that since the DD had been cancelled (which it hadn’t) and that there was no offer of settlement, they would pass the details to Blair, Oliver & Scott. I have had no written confirmation.
I contacted the Bank of Scotland again today and they stated that the matter was now in the hands of Blair, Oliver & Scott and gave me a phone number to contact them. A quick phone call confirmed that they were now dealing with this matter, so I contacted mum and got her to cancel the Direct Debit to the Bank of Scotland (The first monthly payment was due imminently) I’m now concerned that cancelling the DD may have been the wrong thing to do. I have contacted the CAB and made an appointment to see them but this won’t happen until early in the new year.
Can anyone offer any advice in the meantime? Should I get mum to reinstate the DD until we’ve seen the CAB?
0
Comments
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Hi there - firstly I am very sorry for your loss and well done for being such a wonderful son.
Blair Oliver Scott are in the inhouse debt collection company of Bank of Scotland.
I am sure that someone will be in soon to give you some fuller advice.
SFx0 -
Just another thought - was there any PPI on this, or any other life insurance or a widows pension
SFx0 -
No PPI or life insurance, which is why mum cannot afford to repay the loan. All her pension income will go someway towards keeping up with the monthly mortgage payments.0
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