It's a shame to have to advise people to hand the keys back to a mortgage lender when if they were offered a reasonable retention mortgage product by their existing lender there wouldn't be a problem.
Mortgage shortfall avoided. Reposession avoided. Tenant not evicted.
Andrew Graveson
Bright Oak Ltd
UK Debt Management Company
Website: www.brightoak.co.uk
I have tried a number of times to go and discus these cases with various lenders but they seem to be disinterested in any proposition.
Considering the state of the market and the money that the tax payer is funneling into the banking system one would think that they might be a little more careful with the gift.
A little like beibg asked for more water only to have it collected in a sieve
Paul Johns
Reviva UK
Assisted Bankruptcy Specialists www.revivauk.com
The Black Horse rejection policy is well known and has been around for several years - in fact I would say that they were the first creditor to publicly state that they would not support IVAs where they felt that customers had taken out car loans and then deliberately avoided paying them by later proposing IVAs.
This was, and is still, concerning - given that a lot of customers actually believed or were told by the garages that they purchased the vehicles from that they were getting a HP agreement, to later find out that the agreement was merely an unsecured loan.
If the DRF manage to persuade them to change their minds, I will be accepting a lot more clients on my books for IVAs, and I wish you all luck in your mission.
Thanks we'll (DRF) look into it and see - it might need a personal letter to Sir Victor Blank!
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
