30k loan with Lloyds house repossession

[toblue]

Ok long story short. i took a 30k secured loan around 5 years ago. Can't meet the repayments. Paid for around 3 years not paid anything for a year, now with Lloyds recoveries Offered the bank £100 per month rising to £200 per month in 12 months time, rising to £500 per month in 4.5 years time when my mortgage is paid. Refused and said they are going to repossess my house. I offered them as an alternative 12k settlement (could go to 15k) over 12 months.

Tried for equity release to try and pay it off but refused due to the fact that my sewerage system is over 150 years old and roof timbers are rotten.

This is crippling me mentally, I am frightened to even have a smoke incase I go crazy with anxiety.

Strange place to ask for advice but anyone with experience of this situation who could give advice would be very much appreciated.

[M_C]

TBH, the last thing they really want to do is repossess... Can they not offer any suitable alternatives?

[IceCalibur]

Ok long story short. i took a 30k secured loan around 5 years ago. Can't meet the repayments. Paid for around 3 years not paid anything for a year, now with Lloyds recoveries Offered the bank £100 per month rising to £200 per month in 12 months time, rising to £500 per month in 4.5 years time when my mortgage is paid. Refused and said they are going to repossess my house. I offered them as an alternative 12k settlement (could go to 15k) over 12 months.

Tried for equity release to try and pay it off but refused due to the fact that my sewerage system is over 150 years old and roof timbers are rotten.

This is crippling me mentally, I am frightened to even have a smoke incase I go crazy with anxiety.

Strange place to ask for advice but anyone with experience of this situation who could give advice would be very much appreciated.

Really sorry to ready this toblue mate, I can only imagine how stressed you must be, I know that doesn't help you at all and I have no experience with these matters but I hope it works out for you bud, try n stay positive.

[toblue]

Thanks for your quick replies lads.

I may not answer until the morning as I am in the process of drinking myself sensless.

[AND]

These are the rules according to the FCA...they MUST comply with them...contact Citizens advice or a Solicitor mate

What your mortgage lender must do

Before a mortgage lender can repossess your home, they must:

tell you how much you owe
consider a request from you to change the way you pay your mortgage
respond to any offer of payment you make
give you reasons for turning down your offer of payment within 10 days
give you a reasonable amount of time to consider any proposal they make
give you 15 days’ written warning if they plan to start court action
tell you the date and time of a repossession hearing
let your council know within 5 days of getting notification of the date of the court hearing, in case you need to apply to the council as homeless

[Bud Lightyear]

Can you not extend the mortgage to cover the loan ? Surly there is equity in the house if you only have 4.5 years left ...


Regards BL

[kencancook]

So sad to read this man hope ya get it sorted out.. I'd probs feel I'd have to smoke in this shituation..

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[Tavish]

Sorry iv not got any advice, I just hope you get this sorted man

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[Easy-T]

shit mate need to get some legal advice on this

[happyjack]

i have a similar situation with debt but managed to save my house, daily anxiety till I die I just got used to it cannabis does help I just stay comatosed cos aint no way I can fix it