My House May Be Repossessed Soon

blue_monkey_2

Remy,

You say that the other debts are unsecured. First off he needs to get the mortgage up to date. If you are all living there then it is going to be in your own interests to help him do this.

Edit: I just read that you are not there.

Can I ask, how many rooms are in the house? It is time to get a lodger in. not ideal but it is more income into the house.

Then, write to all the people you owe money to, send them a monthly statement of money in and out and then make a nominal paymentof £1 to each one. You will get much more help about this over on the the debt free wannabe boards, but the mortgage has to be THE main priority for now - along with any other debts secured on the property, fuel bills and insurances to protect the propety.

See if your dad can get a mortgage break - this would give him time to catch up without accruing more debts on that.

Then you can see about selling the house and moving somewhere smaller and more affordable for them - as this sounds like it is no longer affordable for them. Likewise for the children, if the working child is not paying much into the house then this also needs to change and your parents need to be honest, it is either contribute moe of find a place of your own as we are finding a 2 bed - for them and the child at uni!!

This is what I would do!

budgie69

Hi Petermb,
Sorry, I know I'm probably being really dim here, but what exactly does that mean?! What constitutes "illegal"? What effect will it have on my house being repossessed, exactly? What should I do to find out if this is so in my situation? Any advice is really, really apreciated, thanks in advance!