In message , Derek Geldard
writes
>On Sat, 22 Mar 2008 18:46:18 GMT, "Lord Turkey Cough"
> wrote:
>
>
>>> After all, the process of moving the debt from unsecured to secured
>>> status will involve the bank in a court action to obtain the charging
>>> order, and court action is never cheap.
>>
>>
>>Thats not the point, the customer took out an unsecured loan.
>>It is not right that it can later be secured on his home unless the
>>customer agrees to this new arrangement.
>>
>>It like hiring a car for the day and then finding that the contract has
>>changed and that you actually have to by the car.
>>It's totally wrong.
>>
>>You paid the higher charges because it is unsecured and then
>>appaerently they can secure it on you home.
>>A complete con.
>>
>
>On the contrary.
>
>All the borrower has to do is keep to the terms the loan was taken out
>on, IE keep his mortgage payments up to date.
>
Mortgage payments? I thought we were talking about credit cards and
unsecured loans here.
>If he breaks that contract, the contract is, well ...
>
>Broken.
>
>If this situation arises and the borrower doesn't like it he can
>always pay the loan off and vote with his feet.
>
>HTH.
>
>
>
--
Mike_B |