House repossession

ODDSOCK72

Hello,due to a severe drop in income i have fallen behind with my mortgage payments and am now 6 months in arrears.I have had the litigation letters a while ago but now get standard letters stating the situation and get around 10 calls a day on landline and mobile.How long before i get repossession letters etc.. ? I have also fallen behind on loan and cc payments and have offered pro-rota payments with the little cash i can spare,some are ok whilst the halifax have got solicitors on the case.I am hoping things improve but if they don't then BR is an option i must think about especially with the house as there will be a shortfall on yhe loan to value.
Any advice would be welcome.

indebtinsussex

first of all welcome to the board, I know it seems awful now however, things do get better. I'm only new myself so someone will come along and tell you all the charities that you need to contact for help and advice. But ask any questions you want on the board, everyone here is really fantastic and are a fantastic supportive lot and non judgemental x

Falze

Ditto the above.

Your in the right place and in good hands here, but still get advise from at least two of the debt charities.

beentheredonethatstilhere

Hi and welcome to the board,

The very first thing you need to do is ring one of the debt charities and get some FREE, professional and impartial advice.

• Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111
• National Debtline - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)

Others:

• Business Debtline - Website: Business Debtline Telephone: 0800 197 6026
• Christians Against Poverty
• PayPlan
• TaxAid - Help with tax debts.

If they do recommend BR then come back and you will get lots of help and support.

SouthCoast

And...................

Facing the prospect of repossession can be frightening, but it’s important to remember that you are not alone. There is a lot of help available from government, from lenders and from advice agencies. The information here will give you the tools you need to prevent your home being repossessed. You'll also find stories from some of the 330,000 homeowners who have already received help and advice.

http://mortgagehelp.direct.gov.uk/default.aspx

missyp123

ODDSOCK72 wrote: »

How long before i get repossession letters etc.. ?

it took aprox 6 months before we got our first official mention of proceeding to court. our hearing was set up within a week or so of the solicitors letter.

hope you seek the advice you need

missyp123

do you want to keep your house? they give you lots of chances to sort something out and lots of people are finding ways to stay in their homes.

ODDSOCK72

Thanks for all your input.I was on a DMP with the CCCS for two and a half years when my income was consistent then toward the end of last year overtime was reduced,i am on around 9k a year less.I started to miss mortgage payments to keep up with my CCCS and vice versa.The CCCS cancelled my DMP in december and i am trying to pay creditors what little i have via a prorota set up,some are ok and others aren't.As for the house i know that i will probably end up BR due to the tiny amount i have for creditors and with the size of the mortgage arrears am tempted to let the house go and let the shortfall be included in the BR.This might sound a cop out but owing 28k on loans a cc's it cannot go on much longer. THANKS

Falze

BR is not a cop out. Its dealing with the situation and moving on. Everybody makes mistakes, probabely most of the people here have.

Making payments that are not going to ever clear the debt is wasting your money you work hard for.

Do not feel like its a cop out. Thats how i felt at first, but people will tell you its braver to face upto the situation that bury you head.

take care


Falze

out_of_cash

very well put falze .

rennes123

Yeah,second that-I have made a mistake,and I can guarantee I will never be in this situation again,just having my sanity back will do nicely!
I am another ditherer,will probably do the house thing first,is it best to put in a different account(the potential rent/br money) or just keep it. Do I tell mortgage company or just not pay ?

I wish for a calm digestive system!