Repossession advice- what happens next?...

cpisthedbb

Flyboy152 wrote: »

If she knew how to play the system, she would be at least be on council tax benefit, which she apparently isn't.

There are far too many inconsistencies here for the given account to be as accurate as we are being led to believe. For example, the OP takes home twelve hundred pounds a month, he says that she earns two hundred pounds a month more than that in benefits. There is no housing benefit to include, so we are talking about JSA, maybe IS, CTC, possible (but unlikely) WTC and CB. I cannot see this adding up to fourteen hundred pounds a month. Then there is the whole house sale issues, mortgage, HIPs, estate agents, etc.

What would the benefit to me be in making up any details?

I can tell you for certain I have not made any details of this up. I'm not after any sympathy, I'm just looking for some experienced knowledge and advice to what to do next...

Flyboy152

cpisthedbb wrote: »

What would the benefit to me be in making up any details?

I can tell you for certain I have not made any details of this up. I'm not after any sympathy, I'm just looking for some experienced knowledge and advice to what to do next...

I have no idea, only you could answer that. Many NRPs, who wish to avoid certain aspects of their lives, will add many reasons for being in their current predicament

cookies_and_crem

OP - I am not sure why no one else is responding to your thread. If I were you I'd re-post with the basic detail. i.e you have a house in negative equity, payments haven't been made since x, the bank via court has sent you x - what happens next? what can you do.

Looking backwards is a useless effort, it is all done now. You may want to call Shelter or one of the debtlines to get productive advice. You may also want to call the bank to see if the repo can be delayed while you sort finances, assuming 'something' can be done so that you can pay the mortgage.

I do not know much about your query, but it seems you have little time left and most of the responses you have received above are as much use as a chocolate teapot.

Try posting on the bankruptcy and DFW threads - I guess some of those folks have been through the process you are going through now (not saying you will have to go bankrupt, but I guess they would have gone through a period of what are my options if any before they got to that stage).

Hope it helps and good luck.

C.x

silvercar

Flyboy152 wrote: »

But your situation and responsibilities involve far more than just your mortgage and repossession. For example, when it comes to bankruptcy/residency and maintenance etc. the court will want to know what steps you have taken to avoid repossession and this will include what efforts you have made to secure accommodation for your daughter. You can't ignore these things and concentrate on just one aspect of your financial condition.

I disagree.

Maintenance under CSA rules is a set percentage (I think 15% for one child) of NRP's pay.

Bankruptcy is decided on whether your income allows you to repay your debts etc

A repossession hearing will be based on the ability to pay the mortgage and the arrears.

In this situation the mother will fight tooth and nail for residency. On a purely financial basis keeping residency of the child will be a meal ticket to benefits and housing.

I think your ex needs to wake up. By opposing you in your efforts to take over the property and to consider selling it she is going to lose the home. Whether the council rehouse her or push her towards a private let, she is going to have to take some financial responsibility.

If your question is what will happen next. I'm guessing you won't contest the repossession. She will. A sympathetic judge will grant the repossession (with 10 months arrears and no prospect of an improving situation they have little choice) but will probably give her 28 days grace. At which point she will go to the council. They will offer her temporary housing while they investigate her case. At the end of which they will either give her a council home if she's lucky or provide her with a private landlord scheme. She will then get LHA to help pay the rent.

silvercar

In the slightly longer term, the lender repossesses, sells the home and then chases you and her for the shortfall. If you and or her have no money they will wait a while and then chase. If one of you goes bankrupt the shortfall is included in that persons bankruptcy and the other person can be chased for all the debt.

cpisthedbb

OP - I am not sure why no one else is responding to your thread. If I were you I'd re-post with the basic detail. i.e you have a house in negative equity, payments haven't been made since x, the bank via court has sent you x - what happens next? what can you do.

Looking backwards is a useless effort, it is all done now. You may want to call Shelter or one of the debtlines to get productive advice. You may also want to call the bank to see if the repo can be delayed while you sort finances, assuming 'something' can be done so that you can pay the mortgage.

I do not know much about your query, but it seems you have little time left and most of the responses you have received above are as much use as a chocolate teapot.

Try posting on the bankruptcy and DFW threads - I guess some of those folks have been through the process you are going through now (not saying you will have to go bankrupt, but I guess they would have gone through a period of what are my options if any before they got to that stage).

Hope it helps and good luck.

C.x

I disagree.

Maintenance under CSA rules is a set percentage (I think 15% for one child) of NRP's pay.

Bankruptcy is decided on whether your income allows you to repay your debts etc

A repossession hearing will be based on the ability to pay the mortgage and the arrears.

In this situation the mother will fight tooth and nail for residency. On a purely financial basis keeping residency of the child will be a meal ticket to benefits and housing.

I think your ex needs to wake up. By opposing you in your efforts to take over the property and to consider selling it she is going to lose the home. Whether the council rehouse her or push her towards a private let, she is going to have to take some financial responsibility.

If your question is what will happen next. I'm guessing you won't contest the repossession. She will. A sympathetic judge will grant the repossession (with 10 months arrears and no prospect of an improving situation they have little choice) but will probably give her 28 days grace. At which point she will go to the council. They will offer her temporary housing while they investigate her case. At the end of which they will either give her a council home if she's lucky or provide her with a private landlord scheme. She will then get LHA to help pay the rent.

In the slightly longer term, the lender repossesses, sells the home and then chases you and her for the shortfall. If you and or her have no money they will wait a while and then chase. If one of you goes bankrupt the shortfall is included in that persons bankruptcy and the other person can be chased for all the debt.

Thanks for all your replies. I've only just caught up on this as I've not had access to the internet until today.

The last replies to this have been very useful and more what I was looking for.

lolly_896

Flyboy - I guess you'd be surprised to hear that a single parent working 16 hours a week at £6 per hour is entitled to approx £130 a week in tax credits add that to the £95 earnt. £20 a week in child benefit, also consider if the mother puts the child in nursery for any amount off time tax credits will pay up to 80% off fees, there is also a disability element of £500 per yr if child qualifys - it wouldnt surprise me. cpisthedbb, i wouldnt be too concerned about sticking a roof over her head if she gets a private rent she would be entitled to a fair whack more in housing benefit!

Sorry i cant help with the repo though

SouthCoast

Update:

https://forums.moneysavingexpert.com/discussion/2991588=

Flyboy152

lolly_896 wrote: »

Flyboy - I guess you'd be surprised to hear that a single parent working 16 hours a week at £6 per hour is entitled to approx £130 a week in tax credits add that to the £95 earnt. £20 a week in child benefit, also consider if the mother puts the child in nursery for any amount off time tax credits will pay up to 80% off fees, there is also a disability element of £500 per yr if child qualifys - it wouldnt surprise me. cpisthedbb, i wouldnt be too concerned about sticking a roof over her head if she gets a private rent she would be entitled to a fair whack more in housing benefit!

Sorry i cant help with the repo though

I can see your point, but this comes nowhere near the one thousand six hundred pounds a month the OP is claiming his ex-partner is getting.

Flyboy152

Flyboy152 wrote: »

No she wouldn't because a huge chunk of it will have been taken off of her to pay for her benefits.

Update: I have since learned this rule has changed.