I finally recieved the SARN from B&B yesterday, I now have a folder nearly 3" deep to wade through.

Looks like they covered their rears re underselling with 2 grossly underpriced valuations and sold for 8k more than those.

There's about a ream of payment history with lots of unusual looking debits towards the end which are going to need decoding and I supect a lot of explaining from the B&B.

There's also a copy of a document we signed saying that the B&B would only lend us the money if we paid £300 for a mortgage guarantee from the insurer but it would only guarantee 6k of the mortgage. So it looks like we didnt have a full MIG, wording is interesting though and I can find no reference to the insurer paying them anything.

Also copies of the letters they sent us about the arrears as well as copies of the mortgage application & MIRAS paper work we signed.

Looks as though there are a few documents missing, I'll need to look back through the Dos & Donts to find out which.

Interestingly while I've been typing this we've received a letter from Scotdebt Call demanding payment or a collector will call within 7 days. Looks like B&B have dumped AIC after I sent them letters telling them not to call or visit. Oh well another letter to type. Sue

-- Sue (bradfordandbingley_suck@yahoo.co.uk), April 02, 2003

Answers

Sue,

You could also SARN Scotdebt....might put them off for a wee while!

also check out the "undervaluations"...use the Land Registry for a list of similiar or (ideally) identical houses sold at the same time in the same area. You can use this to argue your point re the undervaluing!

Good luck!

M

-- hanging in there! (Anderston828@aol.com), April 03, 2003.

Thanks M, will check out the land registry. Not so sure that SARNing Scotdebt Call will show anything, the one we sent AIC was only a few pages with nothing more than very basic screen shots showing the selling price and how much they think we owe.

I must admit with the new enforcement regs I am wondering whether to fight on & declare bankruptcy if I lose or join hubby, get it over & done with and go bankrupt now. If I had a magic wand I think we'd have gone for the Big B the day we lost the house. Sue

-- Sue (bradfordandbingley_suck@yahoo.co.uk), April 03, 2003.

Sue,

I feel the same way, I wished I had gone bankrupt years ago, especially after seeing how the law is weighted so much in favour of the lenders. Sue, when you refer to the new enforcement regs are you referring to the latest transitional bankruptcy arrangements? If all these new proposals in the white paper come in I can see this country turning into a country of bankrupts. And how many people I wonder with credit card debts realise that they will effectively be debts secured on their homes? Not a very comforting thought, is it?

Mark.

-- M Amos (idgroms@hotmail.com), April 03, 2003.

Mark, It's not just the way that charging orders can now be got without court defaults, but the new powers that bailiffs will have, ie will be able to break in, greater powers to get info on us etc that I find worrying. It's entirely feasible that the bailiffs will be able to break in, virtually empty the house of all but the most essential items, regardless of ownership, sell the goods for next to nothing and have the nerve to make the debt larger with their extortionate fees.

There was a case either on debthelpuk or the uklegal usenet group where a parking fine had risen to £1200 thanks to bailiffs. I dread to think what will happen when they are given the powers which they already allude to in order to bully people. Sue

-- Sue (bradfordandbingley_suck@yahoo.co.uk), April 04, 2003.

Sue,

Yes I know, hence my message of 27th March under 'enforcement review link'. I think it would be wise for all of us to express our concerns to our MPs. I see they want to use the "Fastrack" system to get all this implemented quickly, I wonder why, as if we didn't know.

Mark.

-- M Amos (idgroms@hotmail.com), April 04, 2003.