CCJ/ Mortgage- demand for £10k- urgent help :(

Louise4793

Hi

I hve today received a Judgement for Claimant (after determinaiton) from the Court following months and months of discussion with Northern Rock.

Basically I owe £10,854.66 which was the loan part of my mortgage (first time buyer 100% mortgage).

I did out an offer forward for repayment but this has been rejected. However I am really confused by what has been said in the paperwork. It says that I have to pay £10,854.66 forthwith. However it says I have 16 days to reply to say that I cannot pay. I cannot pay that much, its impossible. However I then received in the same post a letter from the soliciotrs for Northern Rock saying that a judgement was made against me on 19 March and that the application will be heard before the judge on 3 June 2008.

What does this mean? Do I have until June to pay or do I submit a response within 16 days. I am selling the property as a result of all this and moving back in with my parents anyway but am I being naive in thinking that I have until June to sell it and pay all of this off?

Please help, I have spent ages on the internet looking for advice but cant find any.

Thanks in anticipation

Louise

chappers

Basically yes you have until June, however i would reply to the first letter stating that you have your house on the market with aview to paying off your mortgage and debts.

Louise4793

Hi, I thought about doing that whilst thinkng about it today so drafted a letter earlier on and have put that in it. hopefully that shoudl help???

thanks for the advice!

stuffcrash

well if all methods fail there one argument you may be able to use, something the banks having been keeping quite about. If you being repo because you can't keep up mortgage payment, then there is one thing you can do, its the last thing i would do. Ask the bank to prove they own the mortgage and they havent sold it onto investors, this is an ongoing thing in the states and banks have kept it quite because of the possible fall out. This has saved a few mortgage holders in the states, if they re packaged your mortgage and sold it on it mean they dont have the right to repo you. i would look into it, but i remind you this is the last thing i would do if everything else fails because if they dont get the price you will be paying the difference.

Louise4793

Hi, thanks for the above, I've never heard of this, and will remember if it it gets to that stage.

However, I have written to the Court explaining that valuaitons are being done (i am hoping to have it on the market by this time this week) what are the chances that the Court will take this on board (even if I send them "evidence" its on the market)??? I'm sort of hoping they will take it into consideration and be more lenient? i hope so...!

sammyjammy

Louise ignore that post by stuff crash, its spam, you owe the money and they want it back. Are you making any payments towards the loan at all? Have you done a statement of affairs showing your income and outgoings? If it gets t othe court date and the house isn't sold you'll need one to prove what payments you can or cannot make.

Is the house priced at a rate that will give you some profit to put towards the loan? If selling means you'll be able to repay the loan in full then you need to get it sold quickly, even if that means reducing the price. If it gets to the court date then the CCJ will be charged to you for payment (at a rate you can afford) but it will then affect your credit record for the next six years.

Good luck
Sam

Louise4793

Hi, thanks for the reply. Its so hard to believe whats what on here sometimes.

I have tried to negotiate a figure to pay it off but it was rejected, I have written to the Court again (it said I had 16 days to do so) and have upped the offer of payment by another £50 a month and have included a statement of affairs to them clearly showing other outgoings. I have been really honest with them so hopefully it will help a little (i hope).

thanks ever so much for the advice! xxx

Trollfever

You need professional advice.


Contact CAB/Shelter.

stuffcrash

Louise4793 it isnt spam, do some research on the net about what i said, its out there. however only use this as your last resort if they are going to take away your home.

http://pubcit.typepad.com/clpblog/2007/12/another-ohio-ju.html

http://news.enquirer.com/apps/pbcs.dll/article?AID=/20071208/BIZ01/712080349/1001/BIZ

http://query.nytimes.com/gst/fullpage.html?res=9502E7D91238F935A35752C0A965948260