slingblade
Registered User
- Messages
- 9
Why would they agree to any write down? You are not in arrears. They will just state that you adhere to the agreement you entered -and to which they are honouring.
There are other threads on this and to the best of my knowledge, nobody has got a deal. Why should they dona deal if the borrower is paying?
I will give you the point that if they are loss making they should be keen to do deals. So, make them a reasonable offer to pay the loan in full (not a restructure) and see what they say!
You've answered your own question: they'd do a deal if it reduced that loss.
an outstanding mortage of 350k on a motorium. Small life assurance for 100k and house value is 140k. Mortgage is circa 1200 a month cant now afford that as single parent. Self employed earning around 1000 a month after expenses.
Debt writes off are not new, they have always been there going back as far as you want to, they are an everyday part of the risks of being in the lending business.
Debt write downs only really came into peoples minds when it could impact them, deals are being done taht write off portions of debt, each one is based on commercial reality and each subject to a confidentiality agreement. If I were to benefit then I would not be talking about it anywhere.
The confidentiality agreements are primarily to prevent you from going to the media. How can it prevent you from posting anonymously as TRS30 stated or speaking to friends and family.
I have been involved in a debt writedown where I have not been asked to sign a confidentiality agreement which was an oversight on the Banks behalf.
Its interesting that many peoples experience with banks is different. Sometimes even when arranging the mortgage,the banks can neglect to evaluate borrowers ability to repay or even check if they are in a job or business or not. Other oversights can include getting people to sign a confidentiality agreement, as was your experience with your debt writedown. Did they ask you for a sworn statement of affairs, or is that always or not always asked for too?I have been involved in a debt writedown where I have not been asked to sign a confidentiality agreement which was an oversight on the Banks behalf.
Hi,
Could anybody recommend a solicitor or agent who has experience getting write-downs off the bank?
thanks
John
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