You will get loads of these letters, I have lost count, but as other posts state they are all cons, do what i do and file them in the shredder. I also used to get text messages with similar content, dont know how they got my mobile number, but i used to reply with some choice phrases which i cant write on here, using the words like OFF etc, the texts soon stopped. Biggest culprit was Churchwood Finance whoever they may be.
There are changes that make monthly payments more likely and more expensive. There are a few other changes too, but I forget the details. Basically, debtors repay more under br than they would have previously.
You won't be able to buy out the beneficial interest if your house is in negative equity either. However, after 2 years and three months, if the property is still in negative equity then it reverts back to you.
An IPA now starts at disposable income of £20 or more.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
