Phone calls from Banks, Mortgage Arrears.

martinn123

Having had some experience, recently, now resolved, of phone calls from Banks regarding arrears,I thought I might start a discussion as to how to deal with these phone calls.

My thoughts are with customers who are in some distress, and where these calls are causing more distress.

We are all aware of reports of Banks phoning, perhaps daily looking for updates, where no change in circumstances have occured, or even where Professional Advice has been sought, but the calls still come.

let me say at the outset, I am not suggesting not paying your debts, nor am I ignoring the face that the calls are to recover Taxpayers funds invested in the Banks, So let's not go down that route.

so let's look at the structure of the Phone Call.

it starts with a request to talk to, Joe or Josephine, yes I am Joe,

This is Mary, from ABC Bank calling regarding the arrears on your account.

is it Convenient to talk?

if it's not convenient, or if you are in work, say NO, can you call me between 6-8pm only

Next question, should be, is this number OK to call you,on, if it's your home number, well, yes, but a Mobile, maybe say no, home phone only.

next the security questions, DOB, Address etc, without confirmation of this, the call cannot proceed.....you decide....

now the purpose of the call, in many cases, is simple Debt Collection, I.e have you a spare 50 quid on your debit card, they can squirrel you out of, you will have submitted a income expenditure Statments, so they may want to discuss that, fair enough.

remember the call is not personal.....WHAT..... Well it's Computer generated, the person at the other end did not decide to phone you, the Computer did, you will know this by a delay, between you picking up the phone, and a voice, as the Computer flashes your details onto a screen.

it's horrible having to repeat details, you spoke about perhaps the day before, to a different person, so don't bother, ask them to read the details you provided previously, it's all on your details on their Computer screen, and if there has been no change, just say, no change in circumstances from our last communication.

most of these calls are looking for some commitment as to a repayment schedule, and/or a debit card payment, if you cannot provide that, do not engage.

So every day we read about in the papers, or on Radio, about customers terrified, by circumstances, and terrorised by constant calls from the Bank, I would hope this Thread might provide some comfort and support to those who cannot cope with these calls.

again, I am not advocating not paying your Bills, and recognise the Taxpayer assistance to certain Banks, I am however trying to put these pesky calls into some context, and perhaps a give some support to those in distress.

thanks for reading, .......and if you want to post abuse for me starting this thread, do so by PM.

wmpdd3

Agree completely, I used to just go through the whole identity verification thing.

Ask what the call hoped to achieve.

Confirm I haven't won the lottery / had a change in circumstances.

Any time I was asked for figures, if I didnt have them in front of me I would say, refer to my financial statement as there were hints that its Summer, can we have you gas money etc.

At the end I would ask for a summary of what has been added to my file after the call.

I installed 'call recorder' on my phone so all calls were recorded and I could submit a transcript if there were any misunderstandings over what was said. Obviously I told the caller I was recording.

Glad to have all that behind me, it really stressful when you can make the repayments they want you to make.

Fred Swanson

This post has been deleted.

wmpdd3

I used to get weekly calls, but as there were many creditors, that could end up being daily calls.

Usually looking for any changes compared to the financial statement that was submitted, questions like, did you work extra hours this week, did you work the bank holiday or get paid extra for it, are you spending less on gas bills now the weather is better, if so pay us more.

Fred Swanson

This post has been deleted.

Nialloo24

wmpdd3 wrote: »

I used to get weekly calls, but as there were many creditors, that could end up being daily calls.

Usually looking for any changes compared to the financial statement that was submitted, questions like, did you work extra hours this week, did you work the bank holiday or get paid extra for it, are you spending less on gas bills now the weather is better, if so pay us more.

Good lord who were Ya with?!

wmpdd3

Actually, just read thread title, there was no mortgage arrears involved, it was:

MBNA - law on the themselves
BOSI / Halifax - So disorganised
AIB - Fine to deal with
National Irish - OK
Local Credit union n - Broke every rule in the book

martinn123

wmpdd3 wrote: »

Actually, just read thread title, there was no mortgage arrears involved, it was:

MBNA - law on the themselves
BOSI / Halifax - So disorganised
AIB - Fine to deal with
National Irish - OK
Local Credit union n - Broke every rule in the book

I think, but Subject to correction, that. All calls from Creditor Banks should follow the same format.

shamrock55

Would people not just ignore these calls altogether?

Lucyn

Ptsb are currently ringing me 3 times a day mon-fri and twice on a sat. The stress it's adding to an already difficult situation is immeasurable.

SPM1959

wmpdd3 wrote: »

Actually, just read thread title, there was no mortgage arrears involved, it was:

MBNA - law on the themselves
BOSI / Halifax - So disorganised
AIB - Fine to deal with
National Irish - OK
Local Credit union n - Broke every rule in the book

In this environment, lenders can break rules. If they did I would suggest a complaint and on to Ombudsman if not satisfied with response.

wmpdd3

The calls from Halifax were coming from the UK, they were a law onto themselves, but by far the worst was the local credit union, even MABS were shocked when they heard the calls.

The callers from MBNA were lovely and polite but sneeky, offering once off final settlements that they wouldn't put in writing.

@ Lucyn

What are they saying in the calls??

Have you engaged completely in your eyes?

Have you submitted your FS, did you follow the guidelines on the personal insolvency website, even if you are not applying for insolvency, these guidelines are now recognised in court as the minimum a household can repay in most situations.

Every time I had a call I would just read from my financial statement. Take a deep breath before you answer every question and as for the name of the person speaking and for what section they are calling from.

Don't be afraid to tell the caller that the call is causing you distress, make them make a note of that.

Are you with MABS / a PIP etc?

If so,move everything to letters only.

If you have to get a pay as you go and use that for personal calls, check your other phone once a week.

wmpdd3

SPM1959 wrote: »

In this environment, lenders can break rules. If they did I would suggest a complaint and on to Ombudsman if not satisfied with response.

All I can say is the matter is now over. I decided to take a certain route which lead to a favourable outcome for me.