Long time, no Niddy

[Annie da Phart]

Niddyyyyyyyyyyyyyy, long time no see mate.

Apologies for the absense - it's been a heck of a year.

You'll be annoyed to hear that I've done nothing with regards to UE so far and am still paying the minimum payments on my accounts. I lost my job recently though and have taken a fairly significan pay cut so am looking to re-address things.

Since we last spoke, Barclaycard have taken on my Egg account which worries me a little as Egg always just left me alone.

Also, my MBNA account has been sold to IDEM Servicing. I got notification of both of these changes within the past month.

I still have all my old paperwork from when I was looking at this previously. Should I re-post it???

Is the UE route still open to people? I thought it had all been shut down?

Cheers Niddy,

P.S. I changed my number after losing my phone so if you'd been trying to text me and getting no responses, that'll be why

[SXGuy]

Re: Long time, no Niddy

my mothers egg account got bought by barclaycard too, and she never used to get any hassle from them either, so i know what you mean.

Makes no difference for the UE route though.

UE is still open to everyone if your agreements are before 2007.

[oscar]

Re: Long time, no Niddy

Annie - why o why havent you gone down the UE route??

Assuming that Niddy has already advised you can (which is how I interpret the above) then do it!

Its obvious if your accounts have been sold then you have defaults. No point in throwing good money after bad. Plus with you having lost job / taking a pay cut, it makes sense!

[Never-In-Doubt]

Re: Long time, no Niddy

Dude I'll FB message my number

Hope you're well...?

[Never-In-Doubt]

Re: Long time, no Niddy

Oscar; Annie's a bloke lol and owns a few pads so UE was never appropriate

Has this changed; are you now interested matey

[Annie da Phart]

Re: Long time, no Niddy

Thanks for the advice, guys.

I'll start from the beginning to give you an idea of my situation to see what your thoughts are.

ASSETS

Property 1 - Realistic sale price £110,000.00 (on the market now)
Mortgage - £48,000.00
Second Chg - £28,000.00
Repayment terms - Interest only, approx £215.00 a month (SVR)

Property 2 - Realistic sale price £165,000.00
Mortgage - £145,000.00
Repayment terms - Interest only, approx £720.00 a month (Fixed 'til Aug-12)

Property 3 - Realistic sale price £175,000.00
Mortgage - £176,000.00
Repayment terms - Interest only, approx £430.00 a month (SVR)

DEBTS

Card 1 - Approx £4,500.00
Lender - Smile.co.uk
Repayment terms - £16.00 per month, recently renewed for 12 months

Card 2 - Approx £4,000.00
Lender - Smile.co.uk
Repayment terms - £15.00 per month, recently renewed for 12 months

Card 3 - Approx £3,500.00
Lender - MBNA now IDEM
Repayment terms - £8.00 per month, heard nothing from them for ages other than note telling me of sale of debt

Card 4 - Approx £4,000.00
Lender - Egg now Barclaycard
Repayment terms - £8.00 per month, heard nothing from them for ages other than note telling me of sale of debt

Card 5 - Approx £4,500.00
Lender - Lloyds TSB
Repayment terms - £8.00 per month, heard nothing from them for ages other than note telling me of sale of debt

Loan 1 - Approx £12,000.00
Lender - Lloyds TSB
Repayment terms - £18.00 per month, heard nothing from them for ages


These debts were built up, largely, as a result of gambling.

I have done all the CCA stuff and got replies from all the creditors. I shall post these online over the next few days.

Niddy will hate the fact that I've still been paying them. One time he threatened to kill my mother and eat all my Microchips if I didn't stop.

My concern has ALWAYS been the fact that I've got the properties. However, I guess that's unimportant if the debts are considered UE, right?

[Annie da Phart]

Re: Long time, no Niddy

Oscar; Annie's a bloke lol and owns a few pads so UE was never appropriate

Has this changed; are you now interested matey

Still have the pads, Niddy mate, as mentioned above.

I have one on the market now, though, and have a sneaky suspicion any profit from the sale may vanish.....

You think UE isn't appropriate given the fact I have the property?

[PlanB]

Re: Long time, no Niddy

Still have the pads, Niddy mate, as mentioned above.

I have one on the market now, though, and have a sneaky suspicion any profit from the sale may vanish.....

You think UE isn't appropriate given the fact I have the property?

I've got pads too and I'm doing UE. My pads are my old age pension and I'm going to need to keep myself and/or pay the care home fees so I'm not throwing in the towel just yet. I see my financial chaos (also caused by loss of work) as a temporary blip which I'm working through. Once I've sorted out what is UE I'll know better where I stand. The alternative is to sell up everything I've worked hard for over the last couple of decades, pay the Banks, and then live in a cardboard box. Not an option. They've had their money back twice over with obscene interest and penalty charges when I couldn't keep up with my payments. They kicked me when I was down so I'm going to kick them on the way back up. I'm not a case of won't pay because I geninely can't pay right now

You're not insolvent. You've got more assets than debts. I assume your pads have got tenants paying most/all of the mortgages for you?

I look at it this way, Richard Branson's got "debts" too because he leases bright red airplanes by the dozen. When an ash cloud hits he can't sell any tickets or fly them, so whoopsie he owes his bank dollops of money he hasn't got coming in that month. So he renegotiates his way through the turmoil until the sun shines again. You're faced with a similar task of restructuring your finances albeit on a smaller scale

I'd go for UE if your cards are before 2007. But Niddy knows you better than I do (we've only just met) so I'd take his advice. I just wanted to tell you that having assets is not a stumbling block to UE as long as you keep your eye on the ball so a creditor doesn't pounce when you least expect it. And if they do then you need to think about settling before any court action gets started.

Good Luck with whatever route you decide to take

[Never-In-Doubt]

Re: Long time, no Niddy

Haven't we already determined the enforceable ones matey?

[Annie da Phart]

Re: Long time, no Niddy

IIRC we didn't actually come to any difinitive conclusions... I'll scan all my stuff in again today.

[Never-In-Doubt]

Re: Long time, no Niddy

IIRC we didn't actually come to any difinitive conclusions... I'll scan all my stuff in again today.

Cheers mate. Email me them over please (ideally PDF)!

[PlanB]

Re: Long time, no Niddy

Still have the pads, Niddy mate, as mentioned above. I have one on the market now, though, and have a sneaky suspicion any profit from the sale may vanish.....

I've now read your previous thread and can see you already have a good Plan B for all this, so you can scrub what I said earlier

[Annie da Phart]

Re: Long time, no Niddy

I've now read your previous thread and can see you already have a good Plan B for all this, so you can scrub what I said earlier

I've forgotten what my Plan B is!!! I'm liking what you're doing, though. How you getting on with it? No problems with the properties? Any reference to them?

I've sent my CCAs etc to Niddy so I'm sure he'll give me an update over the next few days...

[Annie da Phart]

Re: Long time, no Niddy

Hiya Niddy,

Don't suppose you've had a chance to glance over my collection of CCAs have ya?!

Cheers fella

[Never-In-Doubt]

Re: Long time, no Niddy

Mate these don't look good at all really - you're kinda all outta luck as they are all enforceable - it's a full-house of pure bad luck.

Egg Visa
Lloyds Loan
Lloyds Visa
MBNA Mastercard
Smile Visa
Smile Gold

ALL

Sorry mate, I guess chasing the UE path aint gonna be that ideal to you, not with your house etc.....