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House repossessed, what happens now? Advice pls
rm1301
Posts: 17 Forumite
Hello all,
Realised I posted this in forum really, would have been better here I think.
forums.moneysavingexpert.com/showthread.html?t=2296791
(sorry it won't let me post the full url, just add http:// to the start).
Can anyone advise?
Realised I posted this in forum really, would have been better here I think.
forums.moneysavingexpert.com/showthread.html?t=2296791
(sorry it won't let me post the full url, just add http:// to the start).
Can anyone advise?
0
Comments
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Sounds like they should start looking for somewhere else to live very quickly!MFW - <£90kAll other debts cleared thanks to the knowledge gained from this wonderful website and its users!0
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Your two pals will not have their tenancy recognised by the lender, so when they take possession your pals will be evicted. The lender will not undertake any negotiations with your two pals to receive any rent and will sell the property for whatever price they can get for it. This is because the lender is in the business of lending, they are not interested in being landlords. The balance of what is owed to the lender will be a fat debt on Charlie's shoulders and he will have to pay them back sometime, somehow.
Meanwhile your two friends MUST make plans for their onward move immediately as the lender will be looking to evict them as quickly as they can. Bailiffs will be appointed and then they will be round to forceably evict your chums and all their possessions will be chucked out onto the street if they don't go quietly. The Police may be called to supervise this if the bailiffs think there might be trouble getting your friends out. So, your chums should start packing and ensure their possessions are safely stored somewhere as soon as possible. They may only have a couple weeks, maybe less.0 -
Go back to your original thread and say that you have reposted here, please. It will stop people wasting time replying on that thread, if the action is here.Hello all,
Realised I posted this in forum really, would have been better here I think.
forums.moneysavingexpert.com/showthread.html?t=2296791
(sorry it won't let me post the full url, just add http:// to the start).
Can anyone advise?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
What BitterAndTwisted said. Your friends need to make arrangements to leave ASAP. Hopefully their deposit is protected or I suspect they'll not see it again.
End of discussion, basically. They need to move. They will be thrown out by bailiffs on the day the repossession takes place if they don't.If you don't stand for something, you'll fall for anything0
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