Hi there, I would like to know where I stand in relation to a bank wanting possession of my property....the story so far...1. 4th June I receive a letter from the banks solicitors advising me to appear at the supreme court on the 25th July2. 12th June I call up the bank and discuss the matter and request a way forward, we agree that I pay the arrears amount plus my normal monthly repayments by the 16th June and on each 16th of the month thereafter I continue to pay for the normal monthly repayments3. 13th June, I receive a letter from bank advising of the agreement4. 3rd July, I receive a phone call from banks solicitors wanting to know of where I can be reached so they can hand deliver me court documents. I tell them I have already sorted the matter with the bank and that I have received a letter from them advising of the agreement. I send the solicitor a copy of bank letter.5. 4th July, banks solicitor advises the bank wants to proceed with the legal action as the arrangement with the bank was made without prejudice basis. 6. Now I am not sure where I stand with this. The bank letter was as follows:Dear Mr ......,If we have sent you a statement of claim, we also agree to postpone any further action as long as you make the payment of $5,443.55 by 16/06/12 for loan ######## XXXXX keep to your new payment arrangement.Interest will continue to be charged to your account.What do you need to do?It's important to keep to your payment arrangement and make your repayments on time. This is a temporary arrangement. On 17/08/2012 please contact us if you require further assistance or to discuss a new payment arrangement.We understand that managing repayments can be difficult and there may be a number of reasons you may not-be-able-to make-your-repayment. If your-situation changes and you are worried that you will not be able to pay on time, it's essential that you contact us straight away.What we will doIn the meantime, we will monitor the loan repayments you have agreed to make as part of this agreement. If you don't, we may take enforcement action to recover the money you owe, which may include legal costs. If we have already sent you a default notice, we can take action without any further warning. This might include starting or continuing court proceedings, enforcing any court judgment against you or taking possession of the assets you offered as security for your account.7. I continue to abide by the agreement and will call them on the 17th Aug as they have requested on their letter....but why proceed with the court action? What will it achieve? Am I obligated to appear? Please help.
HelloFirstly, contact the financial ombudsman service to have them look at the matter, clearly the bank has come to some agreement with you which should stop any court action. http://fos.org.au/centric/home_page.jspThey will look into the matter for you.In regard to the matter, you then must attend court and provide the court with a copy of this letter and that you have the ombudsman involved. Court action may be stopped or at worst be adjourned till this occurs.The court will look to the evidence and it should not be an issue. Secondly, the court will be most upset as it seems that the Solicitor has not mitigated loss by attending court regardless of the bank trying to resolve the matter.Please accept.
Hi Daniel, thank you for your response. I am happy with the advice however before I close the matter I would like to ask a couple of follow up questions.
Hello1. YES! Attend court! :) it will be dealt with in your absence if not.2. The documents will most likely be court documents outlining the debt, but i cannot be certain of course.Please accept
Bachelor of Laws (dist) Graduate Diploma in Legal Practise. Admitted NSW Supreme Court / High Court
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