MORTGAGE DEBT ARREARS - SIMPLE STEPS.

[We the People.]

 

The purpose for this post is to simplify access to the information for People unfamiliar with the process of dealing with Debt arrears. This is the precursor to the 'official offer'. There is no real need to write or ask the Bank to accept your offer so to speak. You only need to act.

 

Many People have been asking by e mail fone and text etc.how and where to access this essential information.  So I did this on the recommendation from a friend of mine in the 'People' Business so to speak. So he suggested that People need to be shown simple steps rather than trolling through buckets of information that takes too much time to assimilate,digest and impliment.

                                                               HERE IT IS.

         1.  MORTGAGE IS A FORM OF CONTRACT.      2.  LAW IS MAINLY ABOUT CONTRACT.

          3. PERFORMANCE ON THE CONTRACT.           4. INTENT TO PERFORM ON CONTRACT.

 

                    OK. SAY YOU GOT REPAYMENTS OF SAY €1,000 PER MONTH.

                            YOU CAN ONLY AFFORD TO PAY, SAY €200 PER MONTH.

 

                                                 WHAT DO YOU DO?

 

STEP 1.          DON'T PANIC. VITAL. (DON'T ADD TO THE STATISTICS,OK).

 

 

STEP 2.         DON'T , NOT PAY ANYTHING. KEEP PAYMENTS CURRENT (WHEN POSSIBLE).

                      IT DON'T MATTER HOW MUCH.

 

STEP 3.         REMEMBER, IT'S YOUR INTENT, TO PERFORM ON THE CONTRACT THAT

                     MATTERS... THAT'S ALL. INTENT.

 

STEP 4.        SEND THE BANK €50 EVERY WEEK RATHER THAT €200 EVERY MONTH.

                    ( YOU HAVE NOW PERFORMED ON THE CONTRACT OVER AND ABOVE).

STEP 5.        STOP WORRYING - FEED YOUR FAMILY.

                  

        A LEGAL DETERMINATION AGAINST THE HOME IS NEXT TO IMPOSSIBLE ,WHEN 

        PERFORMANCE ON INTENT TO MAKE RESTITUTION HAS ACTUALLY INCREASED.

 

I felt compelled to ammend this post. When we the People 'perform' on the (alleged) debt, we are not renaging on our duty to keep our side of the (bargain?) so to speak. We are seeking to make restitution and thats what counts. So, when we pay this €50 euro or so every week rather than €200 just once a month, we have proved our intent to make restitution on the debt,  four fold. Keep all lodgement slips as proof that the Bank etc. accepted your payments in an effort to make restitution.

The other most important thing to note is that the lending institution/Bank has accepted your 'offer'/payment and actually contracted to it without ever being asked. They just accepted your lodgement. Bingo. Done deal. Simply keep doing this no matter what happens. Lodging Cash is the best most effect way to do it. If that is not practicable, post a cheque with a/c number on the back just in case it may go 'astray'.

 

Also, if you receive phone calls from them, just hang up. If you receive Letters from them, simply return them to sender. They only want to captivate your attention and get you to create a new joinder on the issue. Don't ever fall for it. If you do , you will have rendered yourself redundant.

If they return the cheques you posted them, thats okay too. Just keep posting them in. The more they return to you the better as they will have proved they are refusing an offer from you to make restitution, they are now in dishonour. Bingo.

No determination can be made against you to vacate your Home. Do get familiar with Article 41.1.1 of the original text draft of the Constitution. Sleep well and feed your family.

 

     The most effective way to lodge the amount over the counter in the Bank.Keep lodgement slip.

                   If you choose by cheque, always write the a/ccount number on the back.

[Vin TNS RADIO]

Clear concise and best of all SIMPLE ! ! ! ...... Another solution from www.wethepeople.ie  Spread the word folks ..... Download this print it as many times as you can and give to as many as you can ....

[Loaoch na hEireann]

Believe it or not but in my own case this very course of action was reccomended by a bank official that (im going to say it)lol is a close friend of mine, she said that if you make some fom of affordable payment that you cant be touched, now ure arrears increse but thats for another day, she also told me that there brief from the "higher ups" is to maximise the amount you pay but the reality is that any affordable amount pertinent to your own circumstances is adequate.so people shouldnt panic but dont listen to those who say pay nothng, your protections even under MARP will be removed and you will loose ur home.my mortgage is €1200 pm im currently paying €450 because thats what we can reasonably afford after food and household bills are paid.

my compliments to we the people for your post simple, uncomplicated and factual and you dont have to pay to attend a day seminar to use it meow

@ vin im     already printing them off ill hand them out a my social welfare office tomorrow as its signing day tommorow

[eiru]

This is a very simple effective solution I have used many times for different things, my offer is usually what I can when I can they don't really like but they have all accepted it.

[Mick]

What you have described is part of the MARP process as set out by the Central Bank.

The guidelines for this process are here:

http://www.centralbank.ie/regulation/processes/consumer-protection-...

 

Send them the "official offer" and pay them by cheque, PO or by cash over the

counter - just pay them what you can afford and start researching.

wings of a dub said:

This is great advice and it's a great relief to find we're not they only ones having trouble 

WE are on reduced payments on our mortgage which costs us 1000 yo yo's a month, the PTSB brought us in for  "chat" and then ambushed us by demanding that I explain what we spend our earnings on like shopping , bills, loans etc... for the week/ month/ year and we were expected to know this off the top of our heads  ( it was like an episode of the generation Game !!) . Now because I couldn't remember everything the "Mortgage advisor" declared we had a 50 yo yo a week surplus !! and said SHE would redo the figures to make it look like we were broke ( which we are ).Anyway she told us we had to give her this info because of the "Regulator" . Is this true ? , that I have to give intimate details like how often we buy shoes or a coat or how much our grocery shop costs or even how often I see my folks and how much it all costs !!. Also she demanded my mobile number ! can they do that aswell ?? The more I read here the more doubts I have about the banks inferred power over everybody .

[Pat Keogh]

Hi wings, the bank may ask for information but it is your choice if you want to give it or not. The bank only has power if you give it to them. People must remember that they are the power, without us banks cannot exsist!!!!!!!

 

So with the power in your hands, you decide what your can afford to pay. Its the same for your credit union loan, pay what you can afford. And then start to learn stuff and how everything works. Best of luck

 

[Mick]

Sounds to me like you were under duress when you filled out the SFS.

Anything signed under duress does not count.

 

Forget about it. Make your official offer - make the payments that you can

afford - research all the stuff you can find here and spread the word. The

more people doing this, the worse it is for the banks.

 

wings of a dub said:

Thanks for the reply Mick.

I am prpbably gonna have to go the Offical Offer route because I asked if I could deferr payment for two years to enable me to pay off a large credit union loan and I was told no way !. Just on the Standard financial statement mentioned in the consumer guide, We didn't fill this out in fact the mortgage advisor did based on the figures we came up with off the top of our heads, maybe if we'd had some notice that we were gonna be asked we could have prepared correct figures for her but when she found a surplus ( because we just can't remember everthing ) she increased figures accordingly to make it look like we were on the limit. I'm just a bit concerned that these 2nd figures aren't genuine infact all the figures were a bit of a best guess but have now been entered as correct details, I don't really fancy getting done for fraud.

Still cheers again for the consumer info , I'm gonna go through the guide later .

 

[Loaoch na hEireann]

hey wings of a dub, i am also with PTSB and i can tell you they have absaloutely no interest in helping there customers, there key objective is to squeeze out as much cash as possible from there customers in distress each month, they do the bare minimum required under marp and manipulate the marp code in there favour, i have been in numerous times over the past year and they refuse point blank to give me any kind of assistance or payment plan, i have given them a full breakdown of my income and expenditure and they merely take what is left over and multiply it by 3 and demand that that is what you can afford to pay,now i just pay what i can really afford on a weekly basis and have done for the past 4 months and i havent heard squat from them. i also do a monthly breakdown of what i spend my money on and back it up with recipts etc for my own record (and if it ever gets to court) i can back up that the bank have treated my case unfairly and i have evidence of clear breaches by the bank of the marp and ccma codes, i wouldnt bother with the regulator as they are powerless. for now ill pay what i can and if it ever goes to court i can get a ruling against PTSB as they have breached regulations that they are Required by LAW to adhere to. so dont worry about what PTSB say you have to pay just pay what you can really afford and keep a file of all your dealings with them. best of luck and btw were not the only customers of ptsb to be treated by them in such a shameful manner so your far from alone on this matter.

[Mick]

Correct ptsb have no interest in helping anyone.

Their current Chairman is a "freeman" of the "City of London" (Corporation).

 

You are not required under MARP to attend their meetings. Have asked them

to prove that you have to but to date they have not.

 

Make official offer and pay them what you can when you can.

 

Loaoch na hEireann said:

hey wings of a dub, i am also with PTSB and i can tell you they have absaloutely no interest in helping there customers, there key objective is to squeeze out as much cash as possible from there customers in distress each month, they do the bare minimum required under marp and manipulate the marp code in there favour, i have been in numerous times over the past year and they refuse point blank to give me any kind of assistance or payment plan, i have given them a full breakdown of my income and expenditure and they merely take what is left over and multiply it by 3 and demand that that is what you can afford to pay,now i just pay what i can really afford on a weekly basis and have done for the past 4 months and i havent heard squat from them. i also do a monthly breakdown of what i spend my money on and back it up with recipts etc for my own record (and if it ever gets to court) i can back up that the bank have treated my case unfairly and i have evidence of clear breaches by the bank of the marp and ccma codes, i wouldnt bother with the regulator as they are powerless. for now ill pay what i can and if it ever goes to court i can get a ruling against PTSB as they have breached regulations that they are Required by LAW to adhere to. so dont worry about what PTSB say you have to pay just pay what you can really afford and keep a file of all your dealings with them. best of luck and btw were not the only customers of ptsb to be treated by them in such a shameful manner so your far from alone on this matter.

[We the People.]

The above method is currently being printed up and posted in Letterboxes. They will also be available at the 'We the People'Talks.

You can do it too. Print some and do a drop in your area.

[wings of a dub]

Right , so it's likely we'll start performing on the contract using the Official Offer option from next month as this month is paid up and as usual we're smashed. I have had a read through the book " Blank of Ireland " and I am intrigued to say the least that I might be in a position to challenge the Bank in relation to their use of Fractional reserve banking and how it allows them generate money  ( albeit digitally or just on paper) to create loans and therefore debt !.Has anybody tried successfully to clear or void their mortgage in the same way. I am tempted to contact the PTSB looking for the specific documents and see how far I get , I wouldn't mind rattling their cage for a change :)

Any reason why I shouldn't ?

 

[Samraaj]

Thanks for posting this and explaining the process to people. I agree, apparently it's not necessary to write a proposal (OO) to the bank saying that you will pay. Just pay across the counter where I doubt they will refuse and then you are performing on the contract.

[Samraaj]

If I were you I wouldn't follow the 'process' that's in the 'Blank of Ireland'. If you search other threads on the forum I think you see why I say this.

 

wings of a dub said:

Right , so it's likely we'll start performing on the contract using the Official Offer option from next month as this month is paid up and as usual we're smashed. I have had a read through the book " Blank of Ireland " and I am intrigued to say the least that I might be in a position to challenge the Bank in relation to their use of Fractional reserve banking and how it allows them generate money  ( albeit digitally or just on paper) to create loans and therefore debt !.Has anybody tried successfully to clear or void their mortgage in the same way. I am tempted to contact the PTSB looking for the specific documents and see how far I get , I wouldn't mind rattling their cage for a change :)

Any reason why I shouldn't ?