Repossession
Stop and avoid repossession
Please read the following carefully - As Debt Counsellors for over 6 years we provide help, information and options to help stop or avoid repossession that others often can't or don't and a quick call or email to us could get you quickly back on track.
We have helped many consumers who are worried about losing their homes and even if you have left it late and are facing eviction in a few days we may be able to help but you must act now.
"I would like to take this opportunity to thank you again for your help, it was very much appreciated and thanks to you I don't need to sell my home" Mrs. T
The CML reports repossessions were up 50% in the 1st Quarter of 2009 and in the current financial climate some lenders may even prefer to repossess and close the mortgage account, if you don't get the right help, make agreements that you can't maintain, or don't go to the hearing just because your lender said you didn't need too this can be a BIG mistake.
All Debt Counsellors are not the same and many consumers often comment they "wished they had contacted us" sooner before they spoke to their lender, were given wrong or incomplete advice and wasted valuable often time trawling round the internet. See more about us.
Banks, Financial Institutions and their Representatives take recovering debts very seriously and whether its a familiar high street lender like Halifax, Northern Rock, Chelsea, Abbey or others like GE, Birmingham Midshires, Kensington, Future, Mortgage Express, Welcome, Southern Pacific, Paragon, Platform, Preferred, Swift, GMAC, I Group, London Mortgage, Capstone or TMB, don't make matters worse with your lack of knowledge.
- Don't believe everything you are told - get everything in writing.
- Don't make agreements you can't keep, you will make matters worse.
- Don't tackle this yourself or your lack of knowledge experience or emotional attachment can often lead to expensive mistakes.
Repossession Help
Question - Should you be facing repossession or eviction?
Confused? In many cases we see, home owners were facing a repossession hearing or eviction because they had either agreed over payments that they couldn't keep up, had a temporary loss of income or were struggling with other debts and getting further behind, in some of the cases we see the arrears were technically often over stated and a quick call or email could soon help get you back on track.
Step 1 - Stop and avoid repossession
We can help ensure any repayment proposal is realistic and affordable for your lender or the Court, this can often be over years with a lower realistic payment than your lender may have demanded, in some cases this can be over several years.
If you have other unsecured credit and loans, payments on these can normally be reduced as part of a short or longer term plan to avoid and stop repossession getting you back in control.
We are increasingly contacted by consumers that are convinced they have been subjected to over charging from errors on incorrect late charges penalties and fines, errors over interest and payments applied to the account and even miss selling.
This can be checked and in some cases strict rules and regulations had not been followed as required by for example the OFT, Administration of Justice Act and the Consumer Credit Act, when identified this can help stop repossession and result in the arrears being significantly reduced, the repayment period shortened, more affordable or even removed.
We can quickly help you identify your options that can help stop or avoid repossession on terms often more favorable to you so why not give us a quick call or email now.
"Your professionalism dedication care and understanding was what got us through a very difficult time - there is light at the end of the tunnel, thank you for all your heart felt assistance" Mr. & Mrs. G
Court - If you have broken an agreement and are facing an N31 eviction or possession notice you can apply to the Court with a N244 for another hearing to try and stop the eviction and you should prepare financial proposals and statements for this which we can help you with.
Other Debts - If you have other unsecured debts like credit cards and personal loans that you need help with these can often be incorporated into a plan to reduce the payments until you are back on track with your mortgage or secured loan.
In addition to the options here there are several different schemes being operated to help consumers avoid repossession and we would suggest you visit your local Citizen Advice Bureau for the latest details on schemes in your area.
Step 2 - Check your options to stop and avoid repossession
Identifying and understanding your options and how and when you could use these is essential before taking the next step especially if you have other debts. To help you make the right decision we will as part of our free review check your options.
- If you don't have other problem debts we can help you prepare a realistic affordable payment proposal and statements to clear the arrears that can submitted to your lender or Court.
- If there are likely over charging errors and issues could these help.
- If you have other debts an IVA agreement agreement can be used to stop or avoid Repossession by consolidating all your unsecured debts into one affordable monthly payment with interest and charges stopped as well as allowing repayment of arrears.
- If you have other debts an informal DMP agreement can be used to reduce these payments until you are back on track with secured loan arrears.
- Is a quick sale or sale and rent back likely to be an option
Step 3 - Quickly get you back in control
You may soon find that depending who you talk to or where you look on the internet, Companies, Organisations and forums can give you different and sometimes conflicting advice on what to do.
This is a complex area and understanding the pro's and con's of any options that you could consider is essential before taking any action.
Whether you would like us to explain your options, have already decided what to do next, would like a second opinion or just some help with a financial statement and arrears repayment proposal for the Court we would like to offer our help.
Repossession - Information
You would be advised to remember this is not just about you, your home or even your lender, this is also about money and in simple terms the lender is likely to want it back.
Many lenders don't offer new mortgages or loans any more and some may be worried about falling property prices and the security for the mortgage or loan is reducing.
- Your lender may inform you that they intend to apply for repossession but don't be intimidated into agreeing repayments you can't maintain.
- This is normally followed by Court documents which you will need to complete and submit to the Court with financial proposals and statements before the hearing and you must get experienced help and advice before completing these.
- You should beware that some lenders may try to agree an often unrealistic repayment with you direct before the Court hearing and suggest you then don't need to attend a repossession hearing - This can be a BIG mistake.
- As long as you are able to produce detailed financial proposals and statements that demonstrate to the Court that you can make a reasonable repayment offer on the arrears without the account going further into arrears you are likely to keep your home as long as you keep to the agreement.
- Whether you are worried about repossession, facing eviction, would like our help or just a second opinion we would like to offer our help.