Repossession / vol reposession

justjohn

If you want too successfully dig yourself out of this you cannot do things by half's. You need to be ruthless and hard.

If you cannot manage that you may as well give up. And go for repossession.

Coco114

No of course sky isn't the end of the world. CCJ jt is a joint loan.
If I am very honest - it does pee me off that I am carrying all this & me and the kids are the ones giving up everything apart from eating, whilst ex continues to lay down the law in "it's still my house" yet doesn't want to pay for it - there I said it !
But , sensible head on here - there are more savings I can make & poss some negotiating to be done with secured loan so I am not giving up yet
Thanks again x

holly_hobby

Coco114 wrote: »

Mortgage (£131k outstanding - current value £165k) = £697
.

Also just noticed 165/131 mge is not neg equity .. so a bit confused re earlier posts on that issue ?

Further more if he is still on the mge (which from the above post appears to be the case) HE needs to be aware that any repossession order WILL ALSO EFFECT HIM, AND THE MGE LENDER WILL ALSO CHASE HIM FOR UPTO 12 YRS FOR ANY SHORTFALL - now that little snippet MAY make him sit up and listen .. see how smug he is then .. !!

Men are such selfish numpty's sometimes ... :mad: !!!

H

Coco114

Def cross posting going on ! I will read & digest it all.
Please dont think I take this lightly as I don't. There are many reasons contributing to the above - Inc many years of living beyond our means - but I can't take it back or undo it now just deal with what I can.
Coco x

Coco114

Not negative equity on the mortgage alone but with the secured loan it is.

geoffky

Can i just pop in and advise that you must deal with the mortgage shortfall..i buried my head and dodged and weaved about it and then 10 years later after getting married and having kids which luckily i had told my now wife all about the past they pounced demanding a eye watering amount...If only i had gone bankrupt!! Well i got them to settle but if did cause a few words in our house because why should my wife be involved with stuff from my past with a ex girlfriend.....
Give the shortfall your up most consideration...And watch all the extras they put on, like gardening ect ect.....i reckon anything over 10k i would go bankrupt on....good luck...

holly_hobby

Coco114 wrote: »

Not negative equity on the mortgage alone but with the secured loan it is.

Secured loan's are personal finance 2nd charges, and can only be pursued for 6 yrs from default. (default being any sum not cleared upon sale of the property).

So, we in effect have no mge neq equity to worry about ... (however if the lender sells following possession, this may not be the case depending upon the highest offer recd .. )

Thats a bit better .... not much .... but a bit .. !

H

justjohn

Mortgage (£131k outstanding - current value £165k) = £697
Secured (£69k OS) = £400
CCJ (jt) = £103

Surely your ex is liable far half the above and maintenance on top of that?

Cause if it gets repossessed he will also be liable for the debt?

Coco114

Holly that's interesting thanks for that - there may be something to work with on the sec loan side.
The ex gives me what he does & it includes everything I have mentioned. I am aware that half the mortgage & loan , CCJ & maintenance is a lot more than he gives me but if he won't pay he won't pay ?
I think I might get it on the Market & talk to sec lender and see if that's the way forward maybe.
Coco x

justjohn

Coco114 wrote: »

Holly that's interesting thanks for that - there may be something to work with on the sec loan side.
The ex gives me what he does & it includes everything I have mentioned. I am aware that half the mortgage & loan , CCJ & maintenance is a lot more than he gives me but if he won't pay he won't pay ?
I think I might get it on the Market & talk to sec lender and see if that's the way forward maybe.
Coco x

Well i would sort it out with him as if there is a debt he will get chased. If you make money on the sale he will attempt to claim half even though he has not paid half.

Is your other half aware of the repercussions of the house getting repossessed?

Have you got a seperation agreement?