Regal Credit and a default notice

[hibbiejim]

Hello again folks.

a wee question for the peoples champions on here who know their stuff regarding a bank default notice which was issued in Feb 2008.

 

Bank loan default with the RBoS. It then ended up with their lawyers in Glasgow. Now i had a way out where the bank would get their money, mortgage arrears would be paid off.

 

The deal was i had to sell my house and land to a friend for a nominal fee. He was going to then build two brand new houses on the site. One for me and one for him.

 

Now to go ahead, with his blessing he would lend me £10,000 to pay RBoS on condition i was allowed to sell the land to him. I also offered to pay the other £6,000 within two years after i got one of the houses back.

 

I have three letters from RBoS lawyers saying the bank would not accept that as an option. Then one letter asking how much equity i had in the house (i live in an old prefab the house is valueless the money is in the land, although RBoS never checked that the house was worth nothing when they offered the loan).

 

Next thing is Regal Credit daftys are sending letters and phoning at all times Edited. I have never aknowledged any letter or said who i am.

 

Now my main part of the question, sorry its ended up like war and peace. I am having to sell the land to clear my feet. Can Regal Credit stop the sale? Its the only debt i have and i would pay, grudgingly though the balance.

 

I did a credit check and all is well apart from the default. I also phoned RBoS and offered to pay them after the sale but their person told me it was outwith their hands now and i had to deal with Regal.

 

Im in the process of trying to find a good lawyer in Edinburgh just now but some wee pointers would be handy.

 

thanks again folks

Edited February 1, 2011 by silverfox1961
please refrain from personal insults

[IdaInFife]

ok just to confirm

 

the loan i take it is secured against the house?

 

or is it the house and adjoining land?

 

or are you talking the land the house is built on?

[hibbiejim]

thanks for the reply.

 

the loan is unsecured. i phoned a debt crisis place and they told me that it must be unsecured or RBoS would have pushed through a sale to repay the loan.

 

ive had two loans. the first i believe WAS secured. i paid it dilligently then got a call to go into the branch. the 'top up' loan was suggested and foolishly agreed by me. on the original loan i was asked if i was a house owner that i would get a better deal if i was. my mortgage is through the council. they put the insurance value at £90,000. but its a metal prefab. its worth only scrap. but the land it sits on IS an asset.

 

and all planning permission is granted and building warrants signed to knock the prefab down and build two three bedroom houses. so if and when i sell the land with the worthless prefab on it the new owner will have everything they need to knock it down and do the new builds

 

but the problem could be regal debt collectors. if i go ahead and try to sell without telling them can they block the sale? my argument is ive offered three times to pay of RBoS and they refused. the only way anyone will get any money is if i sell.

 

but if regal credit block the sale then i will let the prefab get repossesed and no one will get anything. im more than prepared to cut off my nose to spite my face.

 

no one from RBoS told me that i was not due them the money and they had passed the debt on. all i got was letters and threating calls from regal.

 

thanks again for your help

 

 

 

but i think it must be unsecured as the bank would have forced sale would they not? and get the money rather than sell it to regal?

[IdaInFife]

If the loan is unsecured then what you do with your home is nothing at all to do with RBS or Regal.

 

Unless they have taken you to court and got an inhibition order?

[hibbiejim]

now that is something im not to sure about. i was going through a really bad time then and i lost paperwork. how do i check that please? and is it valid for a set time or does it run out at all?

 

something about what you wrote there is niggling away. if i did get one then it was through the bank and their lawyers. ive had no dealings with regal at all.

 

but when i phoned RBoS debt recovery place they said the loan was nothing at all to do with them now.

 

thanks again

[IdaInFife]

An inhibition order lasts for 5 years unless the creditor applied to renew it.

 

you can check via you credit report for the registars of scotland

 

http://www.ros.gov.uk/foi/legal/text/ch4~1.htm

[hibbiejim]

i shall check just now. would that show up on a credit check with equifax or experion?

[IdaInFife]

Yes if in the last 6 years it will show up a decree although it might say county court judgement

[hibbiejim]

this is what my equifax credit report says about the court bit.

 

 

Court Information

 

Judgments are issued as a result of County or High Court action. If a Creditor/Claimant (the person looking to claim the money from you) is owed a sum of money by you they may raise a claim against you in either the County or High Court, for recovery of these monies. If the court agrees that the Creditor/Claimant is owed the money, then a Judgment will be granted by the court against the Individual (Defendant). The monetary value of this Judgment will be for the amount due and any associated costs. In Scotland similar judgments given in the Sheriffs Courts are called Decrees. Equifax receives this information from Registry Trust Ltd. Registry Trust Ltd is a non-profit making company, contracted by the Lord Chancellor, through the Ministry of Justice, to maintain the statutory public Register of Judgments, Orders and Fines covering courts in England and Wales. As well as holding public registers covering money Judgments/Decrees in Scotland, Isle of Man, Northern Ireland and Jersey, Registry Trust Ltd acts as a clearing house for Judgments registered in Eire. Details of all these Judgments/Decrees, and any subsequent amendments, are passed to the credit reference agencies for inclusion in their Reports.

Excellent

 

You have no information in your credit report that indicates a Court Judgment or other public record information such as a bankruptcy in your name. Credit grantors view this favourably.

[IdaInFife]

Well you don't have a decree that would have an associated inhibition order and your are sure your laon is unsecured so RBS/Regal have no say in whether you sell your home/land or not.

[hibbiejim]

im not 100% sure. i was only going on what the lassie from the debt management place said. that if it was a secure loan then RBoS would have started procedings to recover their money as their lawyers knew i would let the house get repossesed.

 

there were court papers served about them getting money back but nothing ever came of it and i have heard no more.

 

do you not think they would have said through there lawyers when i was trying to settle with them?

 

the ammont i was due them has gone from £21,000 to £26,000 then back to £21,000 and the final letter from their lawyers they said they would accept £16,000 as a full one off payment.

 

regal are looking for £16,000 but i could get a good deal with thousands being taken off if i only got in touch with them

[hibbiejim]

ive been trawling the internet all day reading about this.

 

is it possible for me to find out for myself if there is an inhibition?

RBoS told me they are no longer dealing with this although im still owe them £1400 (i think) would this keep the inhibition going?

if there is an inhibition, if i paid RBoS the £1400 they may perhaps lift it?

what of regal credit though? if i no longer owe RBoS money where do you think id stand regarding these rodents?

 

sorry if im doing your nut in but im just a thicky building trade worker lol and do i have at least a wee bit moral victory in that i offered three times to pay them £10,000 up front and the other £6,000 within two years and they refused each time?

 

oh and a wee p.s. their lawyers were instructed to find out how much equity i had on the house in laymans terms what was that all about?

 

i cannot thank you enough

 

 

cheers

[IdaInFife]

in post number 6 you would need to go thru the link to check for an inhibition order

 

so you don't know if it was a secured or unsecured loan for sure?

 

you can send RBS £1 and ask for a copy of the original agreement so that you can check whether it is or not

 

http://www.consumeractiongroup.co.uk/forum/content.php?414-CCA-request-letter.

 

or is there any PPI or charges that may have been added? these could be reclaimable so you may wish to send them a sar to get a full breakdown of the account

 

http://www.consumeractiongroup.co.uk/forum/content.php?417-A-Subject-Access-Request-for

 

you would need to include £10 cheque or po with this one

 

The thing is IF it is a secured laon there are very unlikley to release the security until the account is paid in full.

 

If it not secured or an inhibition order been granted then they have no say.

[hibbiejim]

listen i cant thank you enough for your help.

 

i have now also checked experian on a credit check. there are no court judgements. would they definately show a inhibition on the credit check sites?

 

also experian says my credit rating is fair. a year ago an old jakey in the street had more chance of credit than me lol

 

are you a lawyer then? if so then im looking for someone to help get the selling underway.

 

the council are ok with my mortgage arrears as long as i have a lawyers letter saying they will get paid.

 

and with the help you have given me i wouldnt hesitate to give you the business

[IdaInFife]

No i am not a lawyer, far from it

 

a ccj/decree last 6 years on file and they would have applied for an inhibtiton order almost immediatly and they last for 5 years so you would have received something if they wanting to renew the order.

[hibbiejim]

its just slightly puzzled me that if there was an inhibition order by RBoS and they say the loan is nothing to do with them now get in touch with regal credit that would mean that a company i knew nothing of and was never informed that RBoS had passed any debt on. even when i phoned their lawyers in glasgow the lassie there said they were no longer dealing with it and would not be contacting me no more.

 

im loathe to get in touch with regal as the attitude of the staff, although mainly due to matt the tw*t the man who put the mug in smug lol

 

are there recomended lawyers on the site? id rather work with them rather than fiddle & costplenty the blackberry toating ciao boys of the legal trade

 

the irony is RBoS would have been settled in full by this year if they had accepted my initial offer. now thats withdrawn as my mate lost his business recently

[IdaInFife]

no they are no recommended lawyers

[hibbiejim]

lol is that just on the site or in general?

[hibbiejim]

hello folks. the saga continues

 

further to the story, after rbs stopped talking to me and left everything to their lawyers i made 3 offers to pay

a lump sum and the balance over 2 years. these were all refused.

 

on the 14th may2009 lawyers anderson fyfe sent a letter saying i was due rbs just over £24,000 but if i payed

immediately they would accept just under £17,000.

 

then i got another letter on the 8th june 2009 saying rbs would consider my offer of £10,000 and the £7,000 remaining

over 2 years if i told them what equity was on the property.

 

on sept 24th 2009 the lawyers letter said that rbs would accept 50% and the other 50% over 2 years. the initial 50%

came to just under £13,000 lol so from accepting £17,000 in may it rocketed to £26,000 by sept

 

then my mate lost his pub and that option was gone.

 

november 2009 a letter from regal credit (i have never acknowledged that company as i do not know who they are

and will not be bullied) fishing for me.

 

i phoned rbs lawyers anderson fyfe and they said they were not dealing with it anymore

 

8th december 2009 a letter from regal stating that all interest had been suspended while the account was with them

 

25th december 2009 regal said i owed rbs just under £22,000 but they could offer a SIGNIFICANT REDUCTION to the

debt but as i had no dealings with them i never replied.

 

i had phoned debt recovery at rbs who told me i had to deal with the lawyers as it was out their hands now.

i dealt with anderson fyfe who then told me it was outwith their hands now.

 

NO ONE from the rbs or the lawyers ever mentioned regal to me.

 

sorry this is taking so long.

 

anyway in 2011 i got a private buyer for the house. a deal was set up by my lawyer and irreversable mandates set

with my lender (edinburgh district council) that the back morgage/council tax would be cleared upon the sale

because of a mess up between my lawyer and the council a judgement for repossession was granted by the sheriff

court (put oon hold though because of the irreversable mandates0

 

today my lawyer said the inhibition kicked in and im due rbs £29,000

 

i dont know who to contact. rbs said deal with their lawyers their lawyers said nowt to do with them. i have recieved

no letters from anyone since december 2009 and as no one took my calls i dont know who im dealing with.

 

so far ive been told im due to pay

£24,000

£17,000

£26,000

£22,000

£29,000

 

lol

 

if i can get someone to talk to me im prepared to offer a sum, just like i did in 2009 but

not for £29,000. i would be looking to pay just £10,000 maximum because of the ****ing

about rbs has done.

 

so (eventually) my point is i offer £10,000 max if they allow the sale or i let the council

reposess and they get nothing.

 

ive tried to find a solution but their intransigence is there to see in black and white

 

who is best to contact folks?

 

as a wee aside the house was bought in mine and my dads names. the original loan was taken

out when we were still joint owners. the 'top up' loan was taken out when we were joint owners.

alas my dad died but as there was no will i had to go to

court to get my dads 50% put in my name as my 2 sisters were due a share of my dads half

 

im just a thick decorator so any help over the weekend would be much appreciated folks so i can get the fight started

on monday

 

all the best

[hibbiejim]

hello again.

 

i got through to someone at unsecured litigation at the rbs place in telford. an extremely helpful chap

went through things with me. he told me that according to what he could see on my file the debt to

rbs was partially settled and was now written off and cleared.

 

i explained about the inhibition and he said as far as he could tell it was nothing to do with them and

maybe i should contact regal credit.

 

i explained i have had no dealings with regal, or signed anything with them either and i refused to speak

to arrogant people like the guy matt who phones up and acts like a gangster. the lad in telford said he

could see my complaint about matt and regal and it was on my file. (so complain folks it seems the DO keep

stuff like that on record)

 

so should my next step be getting my lawyer to get the inhibition lifted? would that at least get things started does

anyone think?

 

IF it is regal that i need to deal with i believe that THEY have to prove i'm due them money, would that be correct?

 

thanks in advance for any thoughts folks

 

cheers

[IdaInFife]

To get an inhibition order then they have went to court to get a decree and if no show and no payments made then the court would grant an inhibition order.

 

You need to contact your local court and get all the info