I need some money

SuzySu

More update....I've just got off the phone with Picture (our 2nd charge provider) to ask them if we could withhold £3500 of payments. Our settlement figure with them is £57,600ish. They said no....no way......can't do.....so I said "but what if we haven't got the money to pay you"?

He then said we must get a letter from our bank saying that they refused us a loan for the shortfall and then they might be able to do something.

My problem is my concience. We do have the money, but if we pay them all of it we won't have our deposit. Do I

(a) get the solicitor to pay all proceeds into our bank and then we pay EA and Picture (minus the £3500) and our deposit, or

(b) get the solicitor to pay the EA but not Picture (saying we will do this ourselves)

or are both of the above too risky? Or even possible? Can the proceeds come directly to us or does the solicitor have to pay everyone?

Picture will get their money back - no question. It will just take a little longer than they want.

Buffythedebtslayer

I don't know much about moving house and withholding for a bit, but I did have a captical one card, they are ok, not brilliant, i would say they are similar to MNBA reel you in by giving you any thing you want and then are very tough on late payments etc, I would say if you can get the card go for it. in your position that is what I would do.

just had a tooth out, so if that doesn't make sense or isn't what you wanted to know sorry.

I think (and this is just me and limited experience) Solicitors have to do as you instruct so you could do either a or b? hopefully some one with a clue will be here soon

xxx

SuzySu

Thanks Buffy....I'm trying everything I can think of at the moment and you lot are inspirational.

How are you feeling.....is there lots of dribbling going on...

Buffythedebtslayer

SuzySu wrote: »

Thanks Buffy....I'm trying everything I can think of at the moment and you lot are inspirational.

How are you feeling.....is there lots of dribbling going on...

yes there is! bloody injections. but have just read elsewhere someone else has had two out so really should stop whinning!

there will be answer the trick is to keep thinking
xxxx

SuzySu

Buffythedebtslayer wrote: »

there will be answer the trick is to keep thinking
xxxx

thinks......thinks......thinks......:rolleyes:

MrsTinks

The gang here are super really
Honestly I think that you are at a point of not having the full amount to repay picture as one of your human rights is to have a roof over your head at night... Therefor if the option is there to not repay the full amount and ONLY keep the money you need for deposit on where you rent then I'd go for that option... Yes picture wil be hopping mad but so what? What would they do diffferently to if you'd had to sell the house in negative equity? I don't see a major difference as you HAVE to be able to house your children You might wanna chat to CAB about it though as they will be able to give you some pretty good advice

SuzySu

Thanks Mrs Tine....they are absolute life-savers and I don't mean that lightly. I'm sure there has been more than one person who has felt that "ending it all" is the only way out, but honestly....the support from these boards (and, I must say the DFW board in particular) is second to none. I wish I could repay you guys for all your support - I would grant you all of your wishes. x

peb

Hang on; I may have got the wrong end of the stick here but the property is charged to Picture - it is a secured loan? Thus your Solicitors will not have any choice but to repay them unless Picture agree to accept a reduced amount; they will take ages to reach a decision at a guess. It is bad enough getting a redemption statement from them.

It is not unusual for you to tell your solicitors that you prefer to deal with teh Estate Agents yourselves - it wuold be sneaky though. You would then (once your obnd etc is sorted) simply go the agents and tell them the truth - cannot pay bill outright, can manage at x a month. However even if the funds are tt'd to you on the day of completion there would still be a logistical problem re renting a property before then?

Dithering_Dad

What's worse, getting into more debt or going into a B&B for a couple of months while you save up your deposit?

You seem to be losing everything and yet still carrying £18k worth of debt. Why are you not considering bankruptcy so that you and your family have a clean sheet?

Almost_Redundant

Not sure if its already been mentioned, but have you considered asking your buyers if you could stay in your house and rent it off them for a couple of months while you save up for your deposit? Of course it all depends on their position.