Genesis

Anyone else got monies with Hanover? What do you reckon the chances are of getting some or any of our money back?? Only had 9 weeks to go before we got our life savings back. Now we have to wait 3-4 weeks to see what the recovery of funds will look like. I chose Hanover as they seemed one of the most conservative finance houses offering what at the time was one of the lowest interest rates (high interest being indicative of higher risk) and I wanted lowe risk..guess I should have gone with the banks who at the time were offereinf 7% as opposed to 9.2% Isnt hindsight great???

Fooferfish

Sorry to hear about that, yeh another finance company going under, theres been , what 20 in the last year, and there will be more as people will start pulling their cash out of others just in case and this will in turn put those companies into the pit of doom.

We looked at the higher interest rates for a long term investment fund, but took the safe way and kept to the bank and have doen for 3 years now.

I feel sorry for those from previous companies who only got back small amounts, hope your return is good.

danny.f

News reported that at the mo,it's anywhere from 4 cents up to 87 cents to the dollar.
Hope it's close to the latter.
Sympathies to anyone with these dipshits.

Batty

Ah Genesis I'm so sorry to hear that. Please God, it will be a best case scenario.

lardyl

Blimey mate - have some getting your cash back Karma.
Good luck to all those with money in the "wrong" places - including those of us still with UK property.

cally49

So sorry to hear about your position with your life savings, what makes me really mad was hearing what they paid out to themselves and to see the flash multi million dollar properties they are building and land they own!

This shouldnt be allowed its like rubbing peoples noses in it ( in fact the very people that had faith in them and put them where they are!)
They should be made to sell up and pay up!
Sorry but this sort of crap really makes me see red!
I wish you all the best fingers crossed
Cally xx

malcoltom

Sorry mate. PM on its way

lardyl

Amen - even worse as this has coincided with the "Rich List" being published to show that the two Hannover owners were worth $600mil and as you say the disclosure that they were taking $10s millions (it says here) in dividends last year..........shocking

southerner

Genesis - Sorry to hear that you've been caught out. Unfortunately this crash is taking on a life of its own, and even some quite well run companies are being caught out.

Saw the Herald article - nice pic!! You looked suitably grim.

lardyl

yeah, and even if we don't like the activities of business owners skimming the last of the cream off failing companies before they go down, the last thing anyone wants is for this to snowball and cause more pain.
All best wishes to anyone connected with this and the other finance company woes/failures and good luck to NZ Ltd (that is our version of UK plc!)

Jokerman

Tragic. I hope you get back some of your hard-earned.

ballsrburning

The hardest part is the directors can afford to build million dollar houses and give themselves a 41 million bonus thats a fair chunk of money, it's got to be criminal that.

Genesis

AND interest rates going down yesterday..and a $20k bill arriving on my doorstep yesterday taht was overdue from the builders...nice timing aye ****< ****<****. Great innit came 12500 miles to lose $140k...the accumlation of 30 years hard work.

Sometimes you feel the whole world is against you and I get really angry when people call you 'greedy'for going with a finace house. I chose Hanover as they were paying THE LEAST interest out of all of them...low interest low risk methinks.

I am sooooooooooooooooooooooooooooooooooooooooooooooooo o bitter at present. I know all about caveat emptor but why is it always little people like me have to be utterly accountable???? Can you imagine my builders repost when I say "no can pay as I am totally devoid of all money now as some other person has lost all my money I entrusted then with"

I go on to say look..I may be able to come up with some of the money in 5 years!

YET all these rich people can walk away from the mire, minted not having apparently ANY ACCOUNTABILITY ATALL.

Rant over. I dont even have a brick wall to bash my head agin as I live in a plastic/mdf tupperware box. Not a london house brick in sight.:curse:

cally49

Feel free to ran to your hearts content here at least (and i know its not going to solve your problems) but at least we will listen.

There should seriously be some sort of recourse thing these people have to answer to.

Swanning around in their flash cars with show ponies hanging off their arms is not a good look at a time like this. Give em all a pair of overalls and make em work in the real world, it was us "little" people the ones seemingly without a voice that put them where they are today. Im p----d off and i dont have any money with them thank goodness.

I just hate to see this happening to people that are trying to make a decent life for themselves.....As i said before all the best we are here to listen as best we can.....

Jokerman

Not much to add to that...if it's any consolation :

God grant me the serenity to accept the things I cannot change,
Courage to change the things I can,
and the wisdom to know the difference....