being repossessed and going bankrupt

chris_1963

Hi

BOth My husband and I worked full time, then our hours were cut and we were stuggling in paying our mortgage which we got into arrears with, my husband then lost his job and we only had my income. It took four weeks for him to get any benefits and we are unable to get tax credits until the new tax year in april because of what we earned so far this year. Needless to say we are going down the Bankruptcy path and now we also have our eviction date for the 20th March. Not much time to find somewhere else. We are working with our local Debt counseller and housing options but at the moment it looks like four of us are going to have to sleep at my husbands daughters until we have a place. |I have certainly learned from this experience and I will never go in to a mortgage again. On top of finding somewhere for me and my daughters to go I also have the problem of rehousing our dogs as I cannot afford to put them in kennels. Has anyone else got through this and can advise me what to do next because i am running out of ideas.:embarasse

chris_1963

I am in the early days yet but if by any chance i can give anybody advice in the future of my experiences i will be only to happy to help. I would'nt wish this on my worst enemy
In regards to the governments mortgage rescue scheme you have to be in certain criteria to take advantage of this, which of course i am not.

headoutofsand

chris_1963 wrote: »

I am in the early days yet but if by any chance i can give anybody advice in the future of my experiences i will be only to happy to help. I would'nt wish this on my worst enemy
In regards to the governments mortgage rescue scheme you have to be in certain criteria to take advantage of this, which of course i am not.

Hi Chris and welcome. I watched a dispatches prog on that very scheme and as usual the whole set up seems a waste of time. It seemed very complicated and would only help a small minority. and as far as I could gather mortgage payers would only have to pay it back years later. Not sure as the whole epsisode was rather like the Gov, in gobbledeegook land.

As I have no house I can't help with your question, but someone in the know will be along shortly.

chris_1963

headoutofsand wrote: »

Hi Chris and welcome. I watched a dispatches prog on that very scheme and as usual the whole set up seems a waste of time. It seemed very complicated and would only help a small minority. and as far as I could gather mortgage payers would only have to pay it back years later. Not sure as the whole epsisode was rather like the Gov, in gobbledeegook land.

As I have no house I can't help with your question, but someone in the know will be along shortly.

i am very anti gov at moment, i think it is only lip service to help us just to try and win more votes when it comes down to it they are not there for us. I would love to meet somebody who as manged to get on this mortgage release scheme just to see if it is actually in place.

headoutofsand

chris_1963 wrote: »

i am very anti gov at moment, i think it is only lip service to help us just to try and win more votes when it comes down to it they are not there for us. I would love to meet somebody who as manged to get on this mortgage release scheme just to see if it is actually in place.

I have always been anti Government, most of what the gov does is nonsensical and the only people who understand such gibberish are themselves. Roll on "quantitative easing" or is that "printing money"

fiveyearplan

Contact your local RSPCA and see if they know anyone who fosters dogs.

chris_1963

thanks for that i will ring them tomorrow and see what they can do until i get a place for us all.

chris_1963

chris_1963 wrote: »

thanks for that i will ring them tomorrow and see what they can do until i get a place for us all.

I have just been reading the booklet about going bankrupt and sounds so scary. At the moment we are just dealing with the repossession on our property but I have a secured loan as well, which i have been told will turn into unsecured debt because the property is in negative equity. Needless to say not knowing how long it will take for the mortgage company to sell the property at this time i dont know what the shortfall will be. I know i will have to go bankrupt when this stage as finished but not knowing what my full debts will amount to at the moment i find that i am looking into the unknown.

My unsecured debt joined with my husbands doesnt even reach the 10000 pound mark. Whats going to bump it up is the secured loan which is about 16000 pounds and then the mortgage shortfall whatever that will be.

I have not put the petition in yet because i will wait to see what happens with the debt counsellor. Will OR need all this information before putting in the petition.

Chris 1963 thinking of chancing her name to stressed and very scared.

nicniven

first things first

BREATHE - i know this is scary believe me you are doing fantastic at facing this. WE all know this is not an easy decision.

Keep notes on all for the OR never hurts to have it ready.

Our house was repossesed and it was like a bad nightmare or so we though it was going to be. We were informed when they would come to collect keys for it and given a 14 day period to empty it of all items before they changed the locks and started procedures.

As for the dogs, foster is probably best for now RSPCA should be able to help they will offer you good advice.

Dont be scared - keep posting we are all here for you and will help every way we can - remember this is nothing else YOU ARE NOT ALONE

Trollfever

Mortgage assistance schemes and other help:

http://campaigns.direct.gov.uk/mortgagehelp/

.

chris_1963

i have just reread the letter from the mortgage company received it after the court date letter came through it says to contact the office to see if there are any other options i know in regards to paying out i dont have the funds to do this at moment, not until i know what income will be i.e. what benefits i will be able to get. i am sure it wont hurt to ring them i have nothing else to lose. problem being the secured loan is with wellcome finance and they are the bully boys in this. wont do anything to help even though i have told them the situation, it the mortgage company give us more time to move out or other options it wont stop wellcome taking us to court for repossession. I know the only option is to seel my house on the hope i cna rent it back. Our social housing is bringing they own buy back scheme in place but not until april where i hope the would take an interest in our house. What i need really is to buy us some time until then the eviction date is the 20th March. I am really good friends with our neighbours they are gutted that we would have to go and suggested we fight our corner to the best of our abiltiy so i can going to try that. but i am still going to have to go down the bankruptcy route in regard to the other creditors