Jim Stafford
Registered User
- Messages
- 631
I absolutely will keep people updated and honestly the decency shown on Ask About money has been just so appreciated. Thank you for your best wishes, means so muchIf you get a chance, you might report back and let us know how you got on. It might help others in a similar situation. From my experience, everything is manageable and you wont be expected to pay any more than you can afford, otherwise its not a sustainable solution which the legislation is all about. Best of luck!
Thanks so much, sincerely appreciated, I did honestly stick my head in the sand and I hope I've shown honesty here. I'm determined to save my home but as important deal with all any any issues. At 54 it's long over due I face the future with some certainties, I learned very quickly when VF bought my mortgage to document everything and avoid any telephone communication.@JD2021 - many of the VFs are shockingly badly organised and almost like a scammer will fire out dozens of letters in the hope one of them will catch a bite.
These letters are like pro-forma confetti; don't let them panic you.
Illness of any sort makes this paperwork etc., even harder to deal with; people in the full of their health often don't understand that. So take your time and don't be pressured.
You seem to be on the right road; I would agree with the advice to pay the interest + some capital that you can afford.
Keep your cards close to your chest re the lump sum you have been offered. I don't see that you need to make use of that at all.
Above all, don't speak to anyone in VF on the phone. If they ring tell them to put it in writing, you will not discuss it on the phone.
You'll be fine & you will get to stay in your home.
The PIP will have to provide robust advice, particularly in your case as you have equity in your house and creditors would expect a 100% dividend.I ask primarily to understand what the overall PIA is likely to include debt wise when and if putting a proposal to creditors.
Fantastic Jim, appreciate that, thank youThe PIP will have to provide robust advice, particularly in your case as you have equity in your house and creditors would expect a 100% dividend.
You would have to swear a Prescribed Financial Statement setting out your liabilities. If you list a creditor who is actually statute barred, then the bar is lifted once the creditor sees the PFS, as you would have acknowledged the debt in writing. Show the docs to your PIP who should be able to advise you.
Jim Stafford
Hi there,FYI
The limitation period in relation to any judgment mortgage is 12 years from the date on which the judgment became enforceable (i.e. the date on which the judgment was obtained.
A judgment mortgage obtained more than 12 years ago can be cancelled by lodging an affidavit setting out the relevant facts
Thanks so much, yes I'm fortunate in some respects given some situations I've heard about. Mabs we're initially very surprised by the Vulture funds move but it transpired to be an error, this said its motivated me for various reasons include health to deal with the challenge once and for all. I do believe the clock was reset re the judgment but as explained previously not a word about it since 2014, but it hangs over me albeit I'd never any intention of selling my home.I really hope that there is no written acknowledgement that might re start the clock.. Banks can be bad at managing paperwork and records. I think your main focus should be dealing with the vulture fund and getting an agreement. You have a fair bit of equity so i think you are in a relatively good position and you have people helping you so i hope you get a good outcome.
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