Mars Capital to announce arrears being calculated incorrectly

Mars customer and appreciate any input, advice or shared experiences here. I will try to keep this clear and round off figures but without identifying details if thats ok. All we received in January was a 2017 statemtent (first time getting this). January 2018 balance is 20k more than jan 2017 balance, reflecting unpaid interest. Monthly repayments due remained at 1500. The letters we received throughout 2017 showed the increasing balance every month with "including arrears" written in brackets. On a separate line it showed what the arrears were. (On the contrary, in 2016, our interest rate decreased a few times but the monthly repayment increased a bit). As background, I lost my job and have only made very small payments from time to time whilst also voluntarily putting house on the market. Aside from this we've had the usual problems others seem to have experienced...lost sales due to Mars inability to produce deeds; ignored correspondence; voluntary surrender rejected. Questions therefore are 1) have we been overcharged? 2) what can we do from here?
 
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Oranges said:
I lost my job and have only made very small payments from time to time whilst also voluntarily putting house on the market.
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If you have not been paying anything, then what would you expect?

The balance on your account is correct, unless you have any evidence to the contrary. No one is suggesting that the balance is wrong.

The arrears figure is wrong. But, in your case, that is only theoretical. If you have been paying nothing, then you are in deep arrears. It might not be €100k, but it's probably €50k.

If they have lost your deeds and you now have to sell it for less than you could have sold it earlier, you may get some "compensation" for this. But it's likely in a rising market that you have actually benefited.

Brendan
 
Thanks. The thread is about arrears capitalisation...I was wondering if Mars had made the same "mistake" as Tanager, based on our figures. I built the house myself, made all payments for 8 years; and after losing work, used savings to pay mortgage in 2016; only fell into arrears after that (about 22k now) and tried to sell up straight away....It seems wrong to have genuine efforts met with a brick wall, one that seems happy to do nothing; let arrears build up; then chase arrears AND capitalise them at same time. Its this activity I was seeking to find out about from other Mars account holders.
 
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