Repossession, Heavy Debts - Damsel In Distress - Help & Support Needed

Malibu1

Hi Gizmo,

Thank you for your reply. I'm not sure statement of affairs & help with budgeting is relevant for my current situation.

I currently have no income and am in arrears with all of my creditors. The best I can offer any of them at the moment (if anything) would be £1 per month... I also have some complaints / dispute with some of the creditors and not sure how best to address those.

I am still awaiting benefits payment and currently surviving on help with small amounts of money for food & essentials from family... My budget cannot be stretched any further and currently just managing to cover phone & internet, food & basic living essentials.

I am wondering if writing relevant letter to each creditor is a good idea, or if I should just ignore?

I think some of the debts may be unenforceable and some creditors have been adding unlawful charges to the accounts... I am not sure if some may come under irresponsible lending or possibly mis-sold... Just thinking of longer term and trying to remain solvent and repair credit rating and the constant harrassment from creditors is not really helping my health.

I have a GP letter regarding my mental health and the harrassment from creditors - Should I send them all a letter including the doctors letter?

Unicorn_cottage

Malibu - have you had any viewings on your house yet? Which part of the country are you in?

socratez

Hi Malibu, what area do you live in and how much are you selling your house for? Even in a semi rural area at the right price it should sell pretty quickly.

theoretica

Have you spoken to the charity Shelter? They are the experts on housing and really know what is what. I hope they can help you.



https://england.shelter.org.uk/get_help (or other links if you are not in England)

patman99

Op, have you considered getting one of the estate agents to do an open house?. These are pretty good as they allow people to view the property and speak to the vendor (you). Put on a pot of coffee (the smell of fresh coffee makes people feel at home.


Above all though, get help with your mental health and try to get back to work ASAP as it will bring in an income and take your mind off what is going on.

[Deleted User]

Malibu1 wrote: »

I don't understand why you think re-homing my pets might be a good idea? Please could you clarify..

Because, even as a per owner eating baked beans most nights, one of the first things Stepchange ask is do you have a pet in all fairness.

To be frank though I wish I had called someone like them sooner.

Even after handing over half my wages last month and an account "on hold", I still have had to watch my debt incur £500 more in charges alone since May. (property problem) opposite spectrum to you in that I've never received a call regarding debt. They've a really good idea what I'd call them.

Good luck - keep your head.

WhenIam64

I am still awaiting benefits payment

How long ago did you apply?

You mention the Norgen case but do you understand it is only temporary? If you go back to court again, which you say they mortgage company is trying to do, then there are other options available to the judge. I have seen an order where the court ordered the price of the property to be substantially reduced. Fits within the Norgen test. Do you want the issue to be taken out of your hands? Also in the Norgen case, there was negative equity which is not the case here.

Think it is time to plan Plan B if Plan A doesn't work in say a month's time.

Malibu1

WhenIam64 wrote: »

How long ago did you apply?

You mention the Norgen case but do you understand it is only temporary? If you go back to court again, which you say they mortgage company is trying to do, then there are other options available to the judge. I have seen an order where the court ordered the price of the property to be substantially reduced. Fits within the Norgen test. Do you want the issue to be taken out of your hands? Also in the Norgen case, there was negative equity which is not the case here.

Think it is time to plan Plan B if Plan A doesn't work in say a month's time.

WhenIam64,

Not sure I understand what you mean in your post - Could you explain?

WhenIam64

What do you not understand?

Length of time for benefits or the length of time you can stay before the property is repossessed/sold?

RelievedSheff

Malibu1 wrote: »

Not sure what you mean?... Property where I live does not normally sell within 2 months?... Which part of country are you from?

As an indicator of how quickly property can sell when priced right, we part exchanged our house recently against a new build. The developer immediately put our existing house on the market at a competitive price, it wasn''t the cheapest in the area but it was a fair price for the property. It sold within a couple of days and had five interested parties out of the six couples who viewed it.

I would be speaking with your agents ASAP and dropping the price again.

You are aiming to come out of this with a hefty wedge of money spare. Quite frankly you need to be looking at coming out with a smaller amount and get the property sold quickly otherwise the house will be repossessed and you will end up with very little left over if anything at all by the times the fees and charges are added up.

You need to realise that nobody is going to wait around for you to sell the house in your own time. If you value your car and your expected pot of cash then you need to do something before it gets taken away from you.