Home is going to be repossed

charile

Hello all and i hope someone can help.It is my dad who has got into trouble he owns basically 90,000.0 and house now will be only worth 50,000. Trouble is he has 1 sercured loan for 15,000.00 and 1 unsercured loan for 14,000.00 and mortage for 45,000.00. He has just had a ccj against him for unpaid water bill 745.00, he owns the credit card company money has a unpaid 700.00 overdraft bill with on a old ban account, and his getting into trouble with is current account. The sercured loan company is taing him to court for unpaid payments of 1500.00 and now mortage company has filed for repossion of 2000.00 and he still hasnt the money to pay this months mortage bill either. I said to him about 6-7 months ago to sell house and clear all the debt and start a fresh again, but he says he doesnt want to lose the house but the house is not the best area by far and neighbours are nosier and compalin about anything that is out of placed. Debtline phone him and said they coud help but cannot touch the mortage or the sercured loan on the property but he still be struggling to pay it all anyway.He does live with my mum but she doesnt want to pay anything to the bills as she sees her money as hers and still takes money out of my dads account and thats why he his in the sitituion now,if he trys and talks to her she goes of on one and doesnt want to know. he shoud leave her be better off buit thats another forum;) . I said to be stress free for est of your life decalred himself bankrupt and just rent but he will not listen to me or my other brothers and sister. This is only a small part of the problem of cash flow but it the main part of his debt to sort. Oh yes he only gets 850.00 a month outgoings are at least 1200.00 a month.Any help much wanted for this worry daughter whos sees her dad gets drunk all the time due to this problem.

opinions4u

Citizens advice time. Get him an appointment and go with him (to make sure he attends / listens and that somebody else understands).

They will check he is getting any benefits etc that could support the mortgage payments or negotiate with the lenders if there is room to negotiate.

From the picture you have painted there, I think the best outcome is probably bankruptcy and losing the house. This is not a step to be taken lightly though, hence the need to talk it through with the experts.

I've never read the bankruptcy section on this site, but here's a cheery link anyway!

PatD_2

Best of luck, hope it works out.

Janey51

charile sorry you are having to help your Dad deal with all this. I just want to offer my support to you and say you are obviously a very caring person.
Please don't make yourself ill dealing with this
opinions4u is right. You need advice....or rather your Dad does.
National Debtline is another place to contact and CCCS. THe links are at teh top of the page.
I hope you get some good advice.

RecoveringAlcoholic

Bankruptcy Board here and for you:

http://www.al-anonuk.org.uk/

AMILLIONDOLLARS

So your mother thinks whats hers is hers and what's your dad's is her's. Well if I was your dad, I'd let them repossess, there is no point in him killing himself to keep a roof over her head. Tell him to pack his bags and move into rented, by the sounds of it your mothers wouldn't miss him, just his money!

AMD

stepp

Maybe you and your brothers could help him financially to get him back on his feet?

I cant imagine my father in this situation, id cut off my right arm to help him.

Good luck!

charile

Yes i already have pay 2 months mortage but with me been self employed i cannnot do anything else money wise. I did these 2 payments about 5 months ago and he still has not manged to keep up with the payments. I always say you are flogging a dead horse no mather how much us kids help him he still be in the same stitutation in about 3 - 4 months time. We have all told him that he is better off without mother but will not listen. He does not want to give his house up my uncle has even told him that he be better wiping his debt off but still joy. I think we just have to wait and see.