house repossession

seven-day-weekend

If you can't afford the house, why don't you sell it instead of waiting for it to be repossessed? You'll end up with more money and may even be able to pay some off your other debts.

saver_sam

desperado1 wrote:

I just feel we are flogging a dead horse, even if the judge is on our side and agrees to accept £15 a month for the arrears, i don't know how long my husband and i can carry on paying the monthly mortgage with it being £1147 per month, and scrimping and saving to try and live.

The judge has the discretion to allow you to pay say £15 pm ontop of the cmi (current monthly installment) as long as the arrears are cleared in a reasonable amount of time (this is by the time the mortgage is fully paid). At 4K arrears at £15 pm this equates to 24 1/2 years, which maybe too long (depends on how long you have left) and then will fall out of his discretion. The arrears will still be subject to interest and possibilly extra charges

I would deff let GE Money know about the next payment not being met, and to revise your offer to them if the £350 is too much. They may still take you to court but may consider suspending the order on the promise that you make the cmi + payments off the arrears.

If it does go to court make sure you go, speak to the lenders representative before you go in if you can and the judges are generally helpful to the debtors (my OH finds so, as he is normally representing a variety of lenders).

Good luck and if you need to ask questions about the hearing, PM me and i'll ask the OH your questions.