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vol repossesion
copier_guy
Posts: 507 Forumite
just been reading redfraggle76's problems in court with an arsey judge.
Do you still have a repossesion hearing if you go for vol. repossesion?
Got me a bit worried now.
Do you still have a repossesion hearing if you go for vol. repossesion?
Got me a bit worried now.
0
Comments
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I'd like to know this too xI cant change the past, but the future is mine to play with!
No 3 February 2009 Club0 -
Hi copier_guy,
You've got to be careful with voluntary repossession. If you do everything the lender asks you to, which includes signing a "Deed of Acknowledgement (DOA)" then there probably won't be a repossession hearing, but you'll find yourself saddled with a debt in the event of a shortfall when the house is subsequesntly sold. This debt should be covered by a Bankruptcy Order but the DOA causes all sorts of problems.
Much better to let the property be repossessed through the Courts and then you've no problems at all. There's no requirement for you to attend Court.
Regards
Richard0
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