Hello my name is ***** ***** I will help you with this.
For now please let me know whether you have written (rather then email) to the Company?
I have sent three letters via the postal system, two were sent via Recorded Delivery. I need help stopping this action.
Have they issued proceedings yet?
Ok - have you replied to the Solicitors? They are required by the rules to consider all reasonable offers?
Are you able to now make the regular monthly payment and a sum towards the arrears?
How much are the arrears?
A lot £10,000 but we still 10 years to go on this secured loan. We will pay more than the £100 when possible, which I have advised them off.
Update - I have today received a letter from IDEM Servicing dated 1st October 2014, advising that they cannot accept the original offer of an extra £50.00 per month, as we have a disposable income of £914.00 available. I do not see how they come to this figure, as once all bills, food etc are paid we have £355.00 left over - how can they come to this figure? The only way I can work it out is if they are excluding food from our outgoings, which would leave us with this figure - can they do this?
They have also asked us to contact them via telephone within 7 days, yet again it has taken 6 days for the letter to get to us, and as I have advised them previously I wish to do all communication in writing, so nothing can get missed. I will email them today, to advise that we have received the letter - as then I have contacted them within the 7 days timescale. This letter also advises that failure to contact them will result in collections activity commencing. However we have already received a solicitors letter - again should all correspondence be sent to both IDEM Servicing and the solicitors?
If this answers your question could I invite you rate my answer before you leave today.
If the system won’t let you please click reply.
Please bookmark my profile if you wish for future help: http://www.justanswer.co.uk/law/expert-alexwatts/
Hi we wrote to IDEM Servicing at the beginning of October detailing the new offer of payment, and asking for a breakdown of the arrears and also how long a term we still had left and also a statement of payments made. We received a letter from them dated 30th October, approx 3 weeks after we sent our letter, advising that they payment was not accepted as they are still saying we have over £900 available and also advising us that the Norgan Principle does not apply as this is a secured loan and not a mortgage - is this correct? It feels as if they want us to either not pay other bills and pay them or what ever we offer will not be enough, they have also again asked us to contact them within 7 days but we received their letter 8 days after it was posted. We have done some research into IDEM Servicing and it does seem that they use bulling tatics. We are considering writing to them again, asking where they get that we have over £900 spare a month and detailing this, also re-asking for a statement of payments made (never received one since the secured loan incepted) and also re-asking details of how the arrears are made up. We are also considering saying that they should allow us more than 7 days to contact them, as it takes their letter more than 7 days to reach us, and we need to seek advice on it and then respond so we feel that a 21 day window would be more reasonable - your advice on this would be grateful. Also any further help you could give on stopping this action would be great. Look forward to your answer.
I am happy to continue talking but please provide a positive rating.
The question will not close and you can ask me further questions.
I have rated a postive rating, but the question has closed
It has not get got to the court stage, and going down this route would be as a last resort.
Could you please clarify if the Norgan Principle does apply to a secured loan which is not a mortage.
Also do you think the other comments I have made I should put in writing to them and also do you think it is worth seeing if my Mortgage Company can help.
Can IDEM Servicing ask me to stop paying other bills to pay them?
So why are they saying that the Norgan Principle does not apply to secured loans, is there any where I can find a quote advising that this does apply.
Do you know if the Mortgage Company can put a stop on the sale of the property?
Update: We have now received court documents even though we are still waiting for answers to questions put in our previous letter. I have been looking on the government website and in there guidelines it says they must give reasons for turning down our offers does them stating we have more spare cash than we do class as a reason. Also are there any medical reasons taken into account by the judge when deciding on repossession as I have very high blood pressure, also as we have been paying the normal monthly payment plus extra what are the chances that the judge will rule in our favour? How likely are we to keep our property?