Lilly's Repossession

[Never-In-Doubt]

Re: Lilly1203 Diary

Hi Guys, it has been a time but we have just received a SAR response from NRAM. Just to update you all:

My daughter Lilly lost her husband an was unable to keep up payments on the house, NRAM repossessed and Lilly moved to a rented house with the children. She is very settled now. NRAM sold the property well under the market value and are now coming after her for the balance of £3,500. I have sent off a SAR as Niddy suggested and it has now come back, we have received a ream of paper with loads of stuff on it. Wondered what we need to do now, do we negotiate to pay what she can or do we ask for it to be written off, any suggestions would be very welcome, many thanks Lillys Dad

Hiya

You do not make any offer to pay - you asked for SAR to see if any charges/payment protection/etc was on there? You need to ask Lily to check each page and find errors.... that's a long boring process but one that Lily must do, sadly you won't be able to help much with that as it needs the account holder to check and study everything in the SAR......

However if you are claiming the lender sold the house cheap then the FOS pick up these complaints and can render the balance claimed by the lender as written off.

[PlanB]

Re: Lilly1203 Diary

NRAM sold the property well under the market value and are now coming after her for the balance of £3,500. . . .

. . . do we negotiate to pay what she can or do we ask for it to be written off

If NRAM sold the property below market value then they owe her money and not the other way round! From memory her home was sold at auction and I encouraged you to get valuations from a reputable agent before it was repossessed so you've got written evidence. When the SAR arrives check all the charges, legal fees, auctions fees etc which have been added and dispute the whole lot together with the under-sale. Make a formal complaint and then progress that to the FOS who take a strong line on lenders' treatment of customers over repossessions. In this case they ordered the lender to pay the customer £3k in compensation

http://www.financial-ombudsman.org.u...ears.html#cs11

[lilly1203]

Re: Lilly1203 Diary

If NRAM sold the property below market value then they owe her money and not the other way round! From memory her home was sold at auction and I encouraged you to get valuations from a reputable agent before it was repossessed so you've got written evidence. When the SAR arrives check all the charges, legal fees, auctions fees etc which have been added and dispute the whole lot together with the under-sale. Make a formal complaint and then progress that to the FOS who take a strong line on lenders' treatment of customers over repossessions. In this case they ordered the lender to pay the customer £3k in compensation

http://www.financial-ombudsman.org.u...ears.html#cs11

Hi Plan B, thanks for the reply. We had the house valued at £174,000 by a local estate agent and it was on the market for £169,000 to get a quick sale, this would have paid all debts and left her with some cash. NRAM took it to court and got a 7 day eviction order, they then changed estate agents and put it on the market for £125,000 or nearest offer, it was sold at £152,000, £22,000 below value. This left Lilly with a short fall to them of £3,500 to clear the mortgage and £12,000 to GE capital who are now coming after her for this via "Capital Recoveries". NRAM are also after her demanding contact. We have been looking through the SAR paperwork but nothing jumps out at us, they have just resent all the paperwork again (yesterday), there must be 400 sheets plus now. There are no transcripts of any phone calls they made asking for her husband after he died nor any phone calls when they were asking the children where their dad was. Could you suggest what we can do now, is there any response or shall I write pointing out the low sale price and request transcripts of the phone calls. I have put another thread on re GE money and the secured loan that they are chasing via Capital Recoveries,should I copy them into the letter to NRAM and point out that this is now a formal complaint, thanks Lillys Dad

[lilly1203]

Re: Lilly1203 Diary

Hi Plan B, thanks for the reply. We had the house valued at £174,000 by a local estate agent and it was on the market for £169,000 to get a quick sale, this would have paid all debts and left her with some cash. NRAM took it to court and got a 7 day eviction order, they then changed estate agents and put it on the market for £125,000 or nearest offer, it was sold at £152,000, £22,000 below value. This left Lilly with a short fall to them of £3,500 to clear the mortgage and £12,000 to GE capital who are now coming after her for this via "Capital Recoveries". NRAM are also after her demanding contact. We have been looking through the SAR paperwork but nothing jumps out at us, they have just resent all the paperwork again (yesterday), there must be 400 sheets plus now. There are no transcripts of any phone calls they made asking for her husband after he died nor any phone calls when they were asking the children where their dad was. Could you suggest what we can do now, is there any response or shall I write pointing out the low sale price and request transcripts of the phone calls. I have put another thread on re GE money and the secured loan that they are chasing via Capital Recoveries,should I copy them into the letter to NRAM and point out that this is now a formal complaint, thanks Lillys Dad

Hi Guys, just wondered if anyone has any idea what to do in this situation. 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 and had some left for herself, any suggestion will be very appreciated, cheers Lilly Dad.

[Pixie]

Re: Lilly1203 Diary

PlanB's the one for this. No doubt she'll look in later.

[PlanB]

Re: Lilly1203 Diary

PlanB's the one for this. No doubt she'll look in later.

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

[Pixie]

Re: Lilly1203 Diary

Thanks PlanB.

[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

[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

[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

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

[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

[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.

[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.

[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