Can't pay my mortgage on Monday, please help.

PM1CAS

Hi everyone,
Please don't shoot me down in flames. I can't pay my mortgage on Monday. I wanted advice on what to do. Basically, the CSA haven't paid me this month and my mortgage payment of £489 is coming out on Monday. I will be £300 short. I have no family, friends to borrow from. My only options are 1) let it bounce and hopefully CSA payment will be through when they try to collect in 14 days or 2) take £300 out on a credit card today and pay into my bank account. I know Martin says to never ever ever do this though. Please advise.

seasideDreamer

I'd ring your mortgage company now and explain what has happened. At the end of the day they won't their money and you would normally be able to give it to them. They are probably the best source of advice right now. They may be able to delay payment for a few days. My parents' provider would try again 5 days later if payment wasnt available but of course still charge but thats without contacting them. Not been in the situation myself thankfully.

dark^knight

Agree...talk to them and see what they say.

sydneybean

agree with other posters. i have had it happen to me once when i was 5p YES 5 WHOLE PENCE short in that account and the bank wouldnt pay it! they sent me a letter as i hadnt realised saying that they would try again in 5 days. wont count against you as a missed payment either as you will still be paying in same month.

sundays

Id cancel the DD first, you could speak to the mortage company and advise if will be paid ASAP, providing you do not have a suspended possession order on the property for mortage arrears, there is not a lot they can do, and wont take action on the first month being late.

But id always keep them informed and id always treat it as a priority expense.

You may find the mortage company are not really helpful, it is often the way on first missed payments but as soon as the money comes in ring them and pay it then set a new DD up.
If you tell them it may also prevent a charge being applied for late payment.

midnight_express

Have you contacted the CSA to fin out why your payment hasn't been made ?

PM1CAS

The CSA say they have £370 but were holding it as they weren't sure if it was this months payment or next months payment. I despair. She said she will try to release it from a certain system but it might not go and if it does, then it will take 28 days.

I withdrew £300 from my natwest platinum card and paid it in this morning. I should be able to pay it early next week when I get paid. Hopefully the interest won't be any more than £70.

Unfortunately, my mortgage is with Santander and I have indemnified my ex from payments so he would have me back in court if I missed a payment as he wanted the house sold so he could have a deposit for his own place. I can't take e stress of going back to court so being screwed over by Natwest seemed the lesser of two evils.

Thanks for everyone's help and advice.

hrodberht

It looks like the cash advance interest on a Natwest Platinum card is about 20% a year - so even if you didn't pay the £300 back for a month, the interest would be around £6.20, and even less if it's back within a week.

anniebaby_2

i know when u fone the mortgage company and u tell em u cant afford it this month,they can say they would like a % of ur monthly payment. they did that with me 3 months ago x

shop-to-drop

How about ask your bank to let you have an overdraft to cover it until the CSA payment comes in?

PM1CAS

Thanks evereyone. I phoned the CSA today and they are now saying there's no payment in November as they got the payment wrong in 2009 so they are going to give him back £370 and I can wait for next payment in December.

I pleaded but their system won't let them pay me and take next months payment off me as at least I'd know about it. I'm gutted. It always seems to happen before Christmas.

I had a little cry before making tea and doing a revised-down-again budget. X