Lilly's Repossession

[lilly1203]

Re: Lilly1203 Diary

Hi Guys, things have been going well for Lilly, she is settled in her little rented house with the children and all is well. Her old property has been repossessed after her husband died and sold, we have had a letter from NRAM stating they sold it for £152,000 which is £20,000 under valuation and they say there is a shortfall on the mortgage of £3,500 and they want it. We had it on the market for £164,999.00 still £10,000 under estate agent valuation for quick sale, this would have paid everyone off but NRAM did not want to know, they wanted it in court despite all the offers we made. Just wondered if anyone had any suggestions on our next course of action, Lilly also had a secured loan with GE for £9000 and that is still owing although there is no longer anything to secure it too, Lilly has no assetts, no money and nothing of value except a car woth £2000 that she has to go to work in, we have not heard from GE for some time, any suggestions or guidance would be really appreciated, many thanks Lilly's Dad

[Enforcer]

Re: Lilly1203 Diary

Just sit tight, all of my daughters letters come to my house, done same as your dad. From now on, don't even bother to reply to anything from DCA's. Not replied to anything for my daughter, technically she has 3 creditors chasing around £12,000. All are enforceable. Single mum, low wages, a pittance from CSA. Council house, no car. They can write to her as much as they like, don't even show her the letters, shredded.
They can do whatever they choose, but she cannot pay them, they were irresponsible lenders.
It will all have been written off against tax by now.

[DoTheyMeanMe]

Re: Lilly1203 Diary

Got a valuation from "we buy any car" and they say is only worth £1100.

If you need a LOW valuation for a car that is the very best place to go. No good for selling your car because they offer well under market prices but good to prove how 'little' it is worth.

[The Tech Clerk]

Re: Lilly1203 Diary

Hi Enforcer, I see what you mean, Dad said a similar thing. Maybe I will wait and see what happens. We had to buy a fridge freezer from eBay but we bought it in dads name same as the TV so we can show receipts to say it is not mine. Got a valuation from "we buy any car" and they say is only worth £1100. The rest of my stuff is very ordinary and not worth much. CAB have done a I&E to show I have nothing spare so as you said "I got nowt so what can they take, cheers Lilly x

Webuyanycar also deduct about £45 admin charge from their estimate!

[The Tech Clerk]

Re: Lilly1203 Diary

Hi PlanB, we are doing fine thanks. Got all my money in last week, paid all my bills, got little envelopes with £10 in towards car tax - MOT - repairs,and we have a little left over and the kids love the new house. Dad has decorated and helped us get sorted. It feels very safe at the moment. I was not going to tell anyone my new address, I was going to give my forwarding address as "C/O" dads address, he has offered to deal with all the paperwork via templates etc, do you think that is best. I am looking forward to the sunshine and a few days out, and the occasional glass of Rose' Love Lilly x

Brill!!!

[lilly1203]

Re: Lilly1203 Diary

Quite true, I handed keys back 20+ years ago. Took about a year for DCA's to find my new rented address, loads of threats, I told them, please make me bankrupt. No chance, no CCJ's no court, nothing . Until one DCA tried it on 10 years later, wrote to my new employer. Basta-ds. Still got nothing. As stated, if you've got nowt, that's all they can take.

Hi Enforcer, I see what you mean, Dad said a similar thing. Maybe I will wait and see what happens. We had to buy a fridge freezer from eBay but we bought it in dads name same as the TV so we can show receipts to say it is not mine. Got a valuation from "we buy any car" and they say is only worth £1100. The rest of my stuff is very ordinary and not worth much. CAB have done a I&E to show I have nothing spare so as you said "I got nowt so what can they take, cheers Lilly x

[lilly1203]

Re: Lilly1203 Diary

Lily, I hope you and the kids are settling into your new home.

Even though NRAM took possession of your house yesterday they still have a duty to sell it for the best price and according to your previous posts you were NOT in negative equity even after satisfying the GE Money secured loan (which NRAM's solicitor will do for you at the point of sale). Keep in touch with that estate agent you instructed so you know what's going on.

Sadly the lender will add any further mortgage payments due (but with no more interest added!) until it's sold, and also the agent's fees plus legal costs. Even so I don't think you'll be left with an outstanding balance to pay. Even if there's a small amount due to GE Money they will probably write it off if you challenge all their unreasonable charges

I've looked at your diary and your other unsecured debts only total about £3,700 so maybe think twice and twice again before going BR because some of those could be UE or settled/written off because the individual amounts are low in the grand scheme of thinks (I have £150k to sort )

Hi PlanB, we are doing fine thanks. Got all my money in last week, paid all my bills, got little envelopes with £10 in towards car tax - MOT - repairs,and we have a little left over and the kids love the new house. Dad has decorated and helped us get sorted. It feels very safe at the moment. I was not going to tell anyone my new address, I was going to give my forwarding address as "C/O" dads address, he has offered to deal with all the paperwork via templates etc, do you think that is best. I am looking forward to the sunshine and a few days out, and the occasional glass of Rose' Love Lilly x

[Enforcer]

Re: Lilly1203 Diary

Quite true, I handed keys back 20+ years ago. Took about a year for DCA's to find my new rented address, loads of threats, I told them, please make me bankrupt. No chance, no CCJ's no court, nothing . Until one DCA tried it on 10 years later, wrote to my new employer. Basta-ds. Still got nothing. As stated, if you've got nowt, that's all they can take.

[PlanB]

Re: Lilly1203 Diary

They were granted a 7 day possession order. I then send the keys back and they take over the house and sell it. They say they will continue to use the same estate agent as I have, and only if it has not sold after a long time will they sell at auction, but who knows they have lied before. I feel so relieved. Its me and the kids at our new house from now on . . . .

. . . . . I now await the final bill after the sale to see what needs to be done but that as they say is another story and another day.

Lily, I hope you and the kids are settling into your new home.

Even though NRAM took possession of your house yesterday they still have a duty to sell it for the best price and according to your previous posts you were NOT in negative equity even after satisfying the GE Money secured loan (which NRAM's solicitor will do for you at the point of sale). Keep in touch with that estate agent you instructed so you know what's going on.

Sadly the lender will add any further mortgage payments due (but with no more interest added!) until it's sold, and also the agent's fees plus legal costs. Even so I don't think you'll be left with an outstanding balance to pay. Even if there's a small amount due to GE Money they will probably write it off if you challenge all their unreasonable charges

I've looked at your diary and your other unsecured debts only total about £3,700 so maybe think twice and twice again before going BR because some of those could be UE or settled/written off because the individual amounts are low in the grand scheme of thinks (I have £150k to sort )

[The Tech Clerk]

Re: Lilly1203 Diary

Wow, that gives your age away, My dad says that was Norman Vaughn in the 60's xxxx

Then he was young then!!!!!!!!!? (shot myself in the foot there!)

[lilly1203]

Re: Lilly1203 Diary

And a Box of Cadburys Roses = They Grow On You You KNow!

Wow, that gives your age away, My dad says that was Norman Vaughn in the 60's xxxx

[The Tech Clerk]

Re: Lilly1203 Diary

Thanks to everyone again, Off to Aldi to do some shopping with the kids, I feel the need for a glass of rose wine, after all I may be able to afford it now, don't tell Dad xx

And a Box of Cadburys Roses = They Grow On You You KNow!

[Undercover Elsa]

Re: Lilly1203 Diary

What a relief it must be for you Lilly. I totally agree with PlanB. They've had their pound of flesh off you, get on with your life and leave them to it. Take all the lightbulbs and plants with you too

[ScabHunter]

Re: Lilly1203 Diary

Thanks to everyone again, Off to Aldi to do some shopping with the kids, I feel the need for a glass of rose wine, after all I may be able to afford it now, don't tell Dad xx

Savour it, and think of the future while you do, because you can now start planning it and building it.

Good luck with whatever you decide to do, and remember we are always here if you need us.

SH

[lilly1203]

Re: Lilly1203 Diary

Thanks to everyone again, Off to Aldi to do some shopping with the kids, I feel the need for a glass of rose wine, after all I may be able to afford it now, don't tell Dad xx