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Repossession orders?
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like_it_used_to_be
Posts: 4 Newbie
So I got into really bad debt when I lost my NHS job 9 years back in 2009. My mortgage arrears were quite bad and the only reason the house wasn't repossessed was because of the recession.
The mortgage company took me to court and were granted an order that allowed them to put in for repossession should I not keep making arranged payments. Now they've told me that this order only lasts for 6 years and my arrears at the rate I'm paying them will take about another 3 years to clear as I am back working but on a lower salary so have less expendable income for the debt.
So my question is what happens when the order runs out and I still have debt to clear?
The mortgage company took me to court and were granted an order that allowed them to put in for repossession should I not keep making arranged payments. Now they've told me that this order only lasts for 6 years and my arrears at the rate I'm paying them will take about another 3 years to clear as I am back working but on a lower salary so have less expendable income for the debt.
So my question is what happens when the order runs out and I still have debt to clear?
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