BFMP- I have nothing against you personally at all and if you can add anything to the forum then great, please do so. If you wish to email Andy Davie directly to ask to be made up to an expert then please do so - we always look forward to welcoming other experts on here,
My own view is that I'm not comfortable with people releasing pensions when it is probably their retirement plan, without taking independent advice but that's just me. I'm over 55 so it doesn't apply to me anyway!!
It is up to you whether or not you want me to change your name? I can just use your initials if you wish, you don't have to create a new account.
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
I am sorry for my typo's - could do with spell check!
I understand, we have stolen this post to discuss it. I am now "old school", in so much as my professional experience was over a time of relaxed credit, positive markets. with geniune pension loans comes an opportunity to raise money for those that might not have access to it another way. It should not be viewed as a long term solution, which is why I heep saying people are free to repay when they need to. It got me out of a hole and I will repay it and free up my tax free lump sum to take or not as I see fit. It is a mid-term borrowing option on a long term asset, in many respects very similar to a mortgage which is repaid on average within 7 years.
If you want to email Andy about being an expert, please do so.
Glad it gave you a help and it may well help others.
To be honest, I will be getting a lump sum but won't release it until I have to - my IVA is enough for me at the moment.
Do you wish to apply to become an expert? If so then please email Andy. Did you wish to change your forum name?
Do agree about the spell check though - could do with one!!
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
Brownowl - to be honest, if you can get rejection letters then that has to be better than trying to get a remortgage in the long term.
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
Olympic torch I have tried online applications but because I need more than 85% LTV I do not even get as far as entering my details; all I get is told I have to go into branch to apply and when i go into branch I get the "can;t help" but no one will give me the written evidence my IP needs. I have contacted my mortgage provider and they are supposed to be sending me a letter but that was 3 weeks ago (and yes I have rung them up since !)
Nothng against borrowfrommypension but I really can't see how he can help you.
Try Yorkshire Bank as suggested for one thing as a couple of posters seem to have been able to get rejection emails if nothing else.
Did you try your existing lender?
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
I would also remind posters that usually monthly repayments if you can remortgage can't be more than 50% of your normal IVA repayments.
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
Just tried Yorkshire Bank kallis and same thing as I posted before - got the standard "you must go into branch as you want more than 85% LTV"
I am going to ring my IP on Monday and once again explain the difficulty I am having - hopefully this time someone will be more sympathetic !!
See what they say Browowl - I think you do need to take guidance from your IP now. Your rejections, from what I can remember, should be from mortgage dealers.
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
brownowl
why don't you 'massage' your figures to suit your purpose, adjust your house value, or amount you need to borrow, all you need is a no.
Aucto Splendore Resurgo.
IVA accepted May 2007.
Extended by 12 months in lieu of equity March 2012.
F+F offer accepted May 2012.
C of C received August 2012.
IVA dropped off credit file 24th May 2013.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Brownowl
Just tried Yorkshire Bank kallis and same thing as I posted before - got the standard "you must go into branch as you want more than 85% LTV"
I am going to ring my IP on Monday and once again explain the difficulty I am having - hopefully this time someone will be more sympathetic !!
Not Yorkshire Bank - Yorkshire Building Society
Last monthly payment made 3 June 2013 after 6 long years. CC issued 21 August 2013, but, er, lost in the post. Finally got it 17 September.
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
The other thing I would say to bfmp is - what happens if that person goes bankrupt inbetween doing the loan and the pension becoming available?
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
do you know Jan, I would imagine they would still take your pension as it's a secured loan isn't it?, I don't know, I can't help but e extremely negative about these things.
I have to disagree really that these loans can be a good idea for people who find it difficult to get credit elsewhere, I feel once you are in the situation where you can't get normal credit anymore, you become desperate and I don't think anyone who is desperate for a way out is in any fit state of mind to make an informed decision about these loans and because of that, I feel these companies just prey on people in severe debt or debt stress, offering what they consider is a lifeline but what in reality over the long term could be the worse decision they made
