help! court papers!

broke31

hi can anyone help or advise please

i have received court papers served on myself this morning in relation to secured loan on my house GE Money ... what do i do?

house is up for sale and should hear today whether an investor is buying it or not. i will be going bankrupt even if house does sell as i will still owe 23k.

what do i do? i totally lost and dont have a clue!

peachyprice

Are the forms for repossession?

If so, fill in the defence asking for more time because you are hoping to have a buyer.

The repossesion and BR will have no bearing on each other.

broke31

yes it is. ok thanks peachy

mortgagemole2009

GE have to abide by a pre-action protocol for a possession claim. Part of this means they have to consider delaying action if you are selling your house The wording is:

6.2 If a borrower can demonstrate that reasonable steps have been or will be taken to market the property at an appropriate price, the lender should consider postponing starting a possession claim.
6.4 Where the lender decides not to postpone the start of a claim it should inform the borrower of the reasons for this decision at least 5 business days before starting proceedings.

If GE haven't done this you can advise the court they have failed to comply with the protocol and ask for more time. If you can prove the house is up for sale etc then the court should be on your side.

You should also speak to GE and mention you know about the protocol, they may then decide to hold off. Knowledge is power after all!

broke31

thank you so much mortgagemole. yes i can prove house is up for sale and no they haven't complied with sect 6.2 i will mention that.

thank you so much, have gotten myself all upset, and physically been sick a couple of times. not even attempted to get dressed today.

mortgagemole2009

I've been there myself and I know how you feel. I know its hard but try not to let them stress you out! The best thing you can do is remain strong with them and remind them of the rules they should be following! Let me know how you get on and if you need any more help