Bringing friend to meet bank to discuss arrears

kildon

Registered User
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157
Hi

A friend wanted me to go along with them to meet the bank about their mortgage situation but the bank has said that they must go alone. Is that allowed? The bank in question is PTSB.

Thanks
K
 
There are no rules, it's a business meeting, if you friend wants someone there then I would absolutely insist on it. It is not a bad idea to be firm for the start!
 
Check the Code on Mortgage Arrears and the Consumer Protection Code

I don't think that it mentions anything specifically, except that providers must deal with vulnerable customers more carefully.




Brendan
 
There are a few threads here giving examples of banks intimidating mortgage holders in this way. One poster brought a friend only to be met by four bank executives on the other side.

If I can find the link Ill post here.
 
Thanks for the responses, will be going tomorrow with friend. Spoke to a bank official and they never heard of this being an issue before. Ill let you know how it goes.
 
Am very interested in hearing the outcome of this.

AJapale, it mght have been myself you are speaking of - my wife attended a meeting some months ago and was met by a panel of bankers, an intimidation to say the least. We enquired about appointing a trusted friend to negotiate with the bank on our behalf. We received very positive feedback from this forum but when we put it too the bank they seemed quite miffed. We are still pushing our case and insisting the friend be an appointed negotiator on our case. I am sure the bank would have no problem having one of their legal team sit in on a conversation just in case one of their officials miss something!
 
Do many people call on the help of others to deal with the bank?
Are people that much under the thumb from debt that they lose their nerve to deal with the bank directly?
 
We went to the bank and there was no issue from the mortgage advisor who met with the borrower and myself however the bank official who met us first asked had we prepared my questions as I couldn't go in...I guess not all employees know what the policy is...I checked with my solicitor beforehand and he laughed it off saying they don't have a leg to stand on "sure does any of those NAMA lads go into meetings with their banks without their lawyers and financial advisors, NO, same applies to you"

as for the meeting, it was fairly similar to previous ones I've attended...banker talks too fast and to me rather than the borrower, the borrower doesn't understand so I end up translating afterwards...in fairness, the banker showed empathy and was pleasant enough...went through the SFS in detail and showed how repayments would change if went interest only or extend terms amongst other options...no leeway on moving borrower to interest rate they charge for new customers instead of the higher rates existing customers pay (where's the logic???)

the borrower was told to go away and have a think about what they would like to do / option they would prefer and outlined the timeline of next steps

on a seperate but related matter, the borrower above and another friend were not claiming TRS since they drewdown the mortgage, the borrower above is past the date of claiming and the other friend missed out on TRS for 2006 and 2007 which would have been a sizeable amount...how many other people are in this boat.

I think bankers, politicians and the elite either forget or do not know how little mortgage holders know about mortgages, consumer laws, ccma, marp etc. This needs to be fixed asap.
 
Do many people call on the help of others to deal with the bank?
Are people that much under the thumb from debt that they lose their nerve to deal with the bank directly?

Joe soap needs all the help they can get in order to get a fair hearing and in order to come away with a good and true understanding of what has been discussed or agreed with these guys.

Even if I was a solicitor myself I wouldn't go it alone unless recording the conversation.
 
Hi

A friend wanted me to go along with them to meet the bank about their mortgage situation but the bank has said that they must go alone.

Was this in writing? No way can a bank prevent you bringing someone to help you with your situation.

Is there no end to the banks bullying of people. What possible reason could a bank have for refusing a person in dire financial circumstances, living in fear of debt collectors and being intimidated by bank staff from bringing someone to support them. Absolutly outrageous behaviour.

I recently met with a credit institution for someone else but I got an authority in advance as the person involved was not at the meeting, the borrower was. Borrower in denial and barely able to speak. Credit insitution tough and where we were meant to deal with one person it was two.

Boomtobust's story of his wife and 4 bankers is really awful.
 
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