Lilly's Repossession

[Never-In-Doubt]

Re: Lilly's Repossesion

I don't suppose I'd be pushing my luck to get this *Secured Loans UE* thread merged too http://forums.all-about-debt.co.uk/s...l=1#post231283

Not at all, that thread now starts this thread due to the date of the posts, ie it is at the beginning (post-1)

To clarify, the following threads are now in this ONE thread:

1. Repo posts from your Diary - your diary is still separate and can be found HERE
2. Merged the Daughter thread into the new Repo thread
3. Merged the Secured Loans thread into this new Repo thread

So now you only have your diary and this repo thread - easier to manage

[PlanB]

Re: Lilly's Repossesion

Hi pez - I'm gonna merge your "Daughter" thread into the mortgage thread so it's all together in one place.

I don't suppose I'd be pushing my luck to get this *Secured Loans UE* thread merged too http://forums.all-about-debt.co.uk/s...l=1#post231283

[PlanB]

Re: Lilly's Repossesion

Hi pez - I'm gonna merge your "Daughter" thread into the mortgage thread so it's all together in one place.

Old thread (with 3 day divert) - http://forums.all-about-debt.co.uk/s...l=1#post291473

[Never-In-Doubt]

Re: Lilly's Repossesion

Hi pez - I'm gonna merge your "Daughter" thread into the mortgage thread so it's all together in one place.

Old thread (with 3 day divert) - http://forums.all-about-debt.co.uk/s...l=1#post291473

[PlanB]

Re: Lilly's Repossesion

Repossession posts moved here from Lilly's UE diary. If I've missed anything out let me know

Long list on its way

[Undercover Elsa]

Re: Lilly's Repossesion

*Repossession posts moved here from Lilly's UE diary. If I've missed anything out let me know

[PlanB]

Re: Lilly's Repossesion

NRAM took possession of the house in March this year and sold it for £22,000 under valuation . . . . I have sent a letter to NRAM formality complaining about there selling tactics and asking for further info re the SAR

Did the SAR to NRAM provide you with the original mortgage offer, Key Facts Illustration and loan Ts & Cs? Was there any reference to a Higher Lending Charge which is sometimes known as a Mortgage Indemnity Guarantee? This is an insurance policy taken out by the lender but paid for by the borrower. In the event of a short-sale following repossession the lender claims the shortfall off the insurer. When that happens then the insurer chases the borrower for the shortfall. I'll explain why this matters when I get your answer to my question.

You don't say anything about NRAM chasing Lilly for the £3.5k shortfall.

Can we keep NRAM and GE Money issues in separate posts. This is because it's not GE Money's fault that NRAM sold the house cheap. We'll find something else to blame them for in due course

[PlanB]

Re: Lilly's Repossesion

I have put another thread on re GE money and the secured loan that they are chasing via Capital Recoveries,

^^^^ do you mean this thread from last year which I seemed to have missed at the time:

http://forums.all-about-debt.co.uk/s...l=1#post231283

If so it raises the interesting question of the possible absence of Lilly's signature on the loan agreement and the suggestion of maybe a forged signature. We need to look at this in depth. Our member Transformer999 went through a similar scenario with Blemain and she got it resolved amicably in the end

[PlanB]

Re: Lilly's Repossesion

Lilly's late husband took out a loan in Sept 2007 for £9000 with GE capital, the loan was in both names and was secured on the house. NRAM took possession of the house in March this year and sold it for £22,000 under valuation, GE are now coming after Lilly for £12,389.86 via Capital Recoveries. As the loan was in Sept 2007 I don't think we can go down the UE route. I have sent a letter to NRAM formality complaining about there selling tactics and asking for further info re the SAR, I will then send a complaint to FOS as PlanB suggested. Not sure how to deal with GE or Cap Recoveries, the loan was secured but she no longer has the house, if it had sold at market value she would have paid everyone off.

Sorry for my slow response

We need to look at NRAM and GE Capital in isolation because these require a different approach to Lilly's other debts. I'm going to try to keep my questions and comments to separate posts because these creditors may have both committed different crimes needing different punishments It would help if you could reply in the same way so I don't get muddled. I'm easily confused

The first thing to do is convince Lilly that there is nothing bad they can do to her now that she has been repossessed, which should remove her fear and anxiety. NRAM has already taken her house so there's nothing left for them to take. We need to stop the letters and phone calls so she doesn't feel intimidated. Then we need to turn the tables so she feels in control of the situation. Both NRAM and G E Money have a terrible reputation for irresponsible lending, overcharging, non-compliance with Pre-Action Protocol (on the repossession), not Treating Customers Fairly. You name it they will have done it. We'll find their wrongdoings and then she'll grass them up to the FOS

The not-so-good news is that secured debts can be chased for up to 12 years after repossession which drags out the SB goal. Having said that my gut reaction is that Lilly should play the sympathy card. She's been widowed and I would expect a creditor to take that into consideration.

[Pixie]

Re: Lilly's Repossesion

I would send the doorstep template while you're waiting for PlanB to get back to you. I'll remind her to pop back on your thread.

[lilly1203]

Re: Lilly's Repossesion

It's unlikely that they'll send someone out. I would send http://www.all-about-debt.co.uk/old/...doorstep-visit (you can remove the sentence about phone calls if it's not relevant.)

Hi again, just wanted to check, do I say anything about the letters they have sent and the debt to Capitol Recoveries or do I just send the "door step Temp" and wait for Plan B to get back to me, thanks again, Lilly'd Dad

[lilly1203]

Re: Lilly's Repossesion

It's unlikely that they'll send someone out. I would send http://www.all-about-debt.co.uk/old/...doorstep-visit (you can remove the sentence about phone calls if it's not relevant.)

Thanks Pixie will get that done tomorrow. Lillys Dad

[Pixie]

Re: Lilly's Repossesion

It's unlikely that they'll send someone out. I would send http://www.all-about-debt.co.uk/old/...doorstep-visit (you can remove the sentence about phone calls if it's not relevant.)

[lilly1203]

Re: Lilly's Repossesion

I've taken a look and I need some *thinking time* if that's ok with everyone. Give me a day or two.

The difficulty is Lilly decided against going to the hearing to ask the court for time to sell the property through her chosen agent. She went with a voluntary repossession when she handed in the keys hence the standard 7 day eviction/repossession. This move probably denied her the evidence she needs to prove that the property was getting interest, viewings, and possibly a viable offer at the right price. Forgive me for saying this but that hasn't helped her argument about the lender selling the property at below market value.

I'll think of something so tell her not to worry yet because there always is a Plan B

Hi Guys, just to update, had another letter from Cap Recoveries, they state if we want to settle this amicably we need to make contact as they have not received any response from the last letter they sent. They state that if we do not reply then a field agent may visit to address this matter, Lilly wont cope with that, Many thanks Lilly's Dad

[lilly1203]

Re: Lilly1203 Diary

I've taken a look and I need some *thinking time* if that's ok with everyone. Give me a day or two.

The difficulty is Lilly decided against going to the hearing to ask the court for time to sell the property through her chosen agent. She went with a voluntary repossession when she handed in the keys hence the standard 7 day eviction/repossession. This move probably denied her the evidence she needs to prove that the property was getting interest, viewings, and possibly a viable offer at the right price. Forgive me for saying this but that hasn't helped her argument about the lender selling the property at below market value.

I'll think of something so tell her not to worry yet because there always is a Plan B

Thanks Plan B, speak later, Lilly Dad