Betty Posted November 4, 2011 Share Posted November 4, 2011 Can anyone help?? Back in 2005 I took out a loan (not a mortgage) to purchase a property in France which I have since sold. In 2008 I fell on hard times and could no longer afford the full monthly payments. The bank agreed for 6 months I could pay the reduce payments. This went on for a lot longer than 6 months and I still pay the reduced amount now. I have received a letter stating that I have to appoint a french lawyer as the bank is taking me to court for the arrears, (which I cannot pay). I am going down the route of applying for french legal aid, as the letter stated if I do nothing only the banks side will be heard.As the loan is unseecure what can thay do to me here in the UK? I am a homeowner(with an english mortgage) and I am employed. Could anyone advise me on the best thing to do? Or has anyone any experience in this situation?I would just like to know where I stand and what my options are.Thanks for readingBetty Link to comment Share on other sites More sharing options...
Bob T Posted November 4, 2011 Share Posted November 4, 2011 I would say that you should have paid the loan off when you sold the French property. Your options seem to be that you should pay what you owe. Try a second loan in the UK against your house to pay off the loan in France. Link to comment Share on other sites More sharing options...
andyh4 Posted November 4, 2011 Share Posted November 4, 2011 I am fairly certain they can now chase you in the UK and worst case make you bankrupt and homeless - sorry that is probably not what you wanted to hear. Link to comment Share on other sites More sharing options...
Wilko Posted November 4, 2011 Share Posted November 4, 2011 Betty I think it really depends on how much you owe and whether it is worth the bank pursuing you. I would talk to the bank direct and if your french isn't up to it ask them to find someone who speaks english.Good luckW Link to comment Share on other sites More sharing options...
betty Posted December 2, 2011 Share Posted December 2, 2011 Moderators please note, there appears to be two Betty’s which could lead to some confusion. Link to comment Share on other sites More sharing options...
pachapapa Posted December 2, 2011 Share Posted December 2, 2011 Not at all; One starts with a capital. Link to comment Share on other sites More sharing options...
Pickles Posted December 2, 2011 Share Posted December 2, 2011 [quote user="betty"]Moderators please note, there appears to be two Betty’s which could lead to some confusion.[/quote]Yes, but the "other" "Betty" appears to have posted once and disappeared off the face of the earth: perhaps the solutions suggested were not to the person's liking? Link to comment Share on other sites More sharing options...
YCCMB Posted December 2, 2011 Share Posted December 2, 2011 I'm not confused. Yet.[:D] Link to comment Share on other sites More sharing options...
YCCMB Posted December 2, 2011 Share Posted December 2, 2011 I'm not confused. Yet.[:D]Although I may change my name to Spartacus. Link to comment Share on other sites More sharing options...
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