mortgage missed payment+need your advice please

waterboy2

hi we have missed our mortgage payment due 28th june(we are paying it 2nd july)however we have just received a call from halifax(did not answer)googled the number.this has got me a bag of nerves.
we are currntly on a dmp with payplan with over 40,000 of debt been with them 4 yrs.also we have unfortunateley a picture loan as well and have only paid half this month although that was agreed with them over the phone.i dont know where to turn wether to go back to payplan or not.also we have already been to court about a loan from northern rock.any help appreciated please:j

fatbelly

This is about priorities. They are (broadly speaking):

1. Mortgage and secured loans

2. Everything else.

You should not be paying Payplan instead of your mortgage. The whole point of a dmp is to distribute fairly your surplus income on a pro-rata basis.

Why is the picture loan not in your dmp?

What do you mean 'been to court about a loan from Northern Rock'? Is this an unsecured loan in your dmp? Or out of it? If so, what did the court order?

Or is it a secured loan? Again, what did the court order?

If you could do a statement of afairs, things would be a bit clearer. Calculator here

SouthCoast

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

waterboy2

fatbelly wrote: »

This is about priorities. They are (broadly speaking):

1. Mortgage and secured loans

2. Everything else.

You should not be paying Payplan instead of your mortgage. The whole point of a dmp is to distribute fairly your surplus income on a pro-rata basis.

Why is the picture loan not in your dmp?

What do you mean 'been to court about a loan from Northern Rock'? Is this an unsecured loan in your dmp? Or out of it? If so, what did the court order?

Or is it a secured loan? Again, what did the court order?

If you could do a statement of afairs, things would be a bit clearer. Calculator QUOTE]
sorry it was unclear.
1.yes i know mortgage was first to pay,followed by our picture loan(this is secured as well)
2.can you put the picture loan into your dmp? as this is secured against the house.
3.northern rock was an unsecured loan and the court decided to side with us as we were on a dmp and had made continous payments towards it.this loan was in the dmp.

dancingfairy

Right o.k so what's happened to make you miss your mortgage payment/be late paying it? Is your budget unrealistic or have you had a unforseen problem - ie freezer blowing up/car blowing up which is needed for work?
You seem to know what your priorities are and are in a dmp so what's the problem?
df

waterboy2

dancingfairy wrote: »

Right o.k so what's happened to make you miss your mortgage payment/be late paying it? Is your budget unrealistic or have you had a unforseen problem - ie freezer blowing up/car blowing up which is needed for work?
You seem to know what your priorities are and are in a dmp so what's the problem?
df

budget is not realistic,its my income thats fluctuates.im a postman on 30hrs a week with a take home pay of £230(paid weekly).if i work 60 hrs a week then i usually have £330 but the overtime is not guranteed.and as a postman our quietest time is summer mnths.my wife earns £570 mth no chance of overtime.

DVardysShadow

waterboy2 wrote: »

budget is not realistic,its my income thats fluctuates.im a postman on 30hrs a week with a take home pay of £230(paid weekly).if i work 60 hrs a week then i usually have £330 but the overtime is not guranteed.and as a postman our quietest time is summer mnths.my wife earns £570 mth no chance of overtime.

Then trim your living budget to what you can reliably earn. Mortgae goes on your living budget - and council tax is a fairly equal priority. Any surplus on the living budget and any overtime goes to debt repayment.

You must get your living budget within your reliable earnings.