Questions and Info relating to Property Issues inc, Charging Orders and Repossession

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Byanjlovescats
#194206 Could anyone shed some light on the best way to go about moving on with my life. My husband left me last year and I have been struggling with mortgage payments of £883 per month plus £190 arrears on top of that. I also have been paying a secured loan of £280 per month. I have (last month) stopped paying these as I only earn £900 per month and with my wftc and ctc (credits) I have been struggling to manage but have had no money to pay bills and eat....I have two children 14 and 17 years old and just thought....why the hell should I continue to bury myself by paying the mortgage/loan and have nothing to live on. I rang GE money and I asked about voluntary repo. I havent signed the forms yet. I dont know whether to sit here for a couple of months and save the payments for rental as I have bad credit now and wont get through the credit checks for private rented. Council/HA said I could be waiting upto 4 years for a home. My only option is to private rent. I am thinking of saving the mortgage payment money up and then when they apply for repossession just up and get myself a rented house. But the question is....if I voluntary surrender rather than them repo it...will it go in my favour in the future...and will I be any better off. Or should I wait until they evict me (or just before) and then move (with some savings). If anyone has actually gone through the whole voluntary repo process could they please advise....any advice greatly appreciated....x
ByDESPERATEDEBTOR
#194207 I don`t know too much about this but I am in the process of surrendering my house too as the secured loan and mortgage was just too much. I guess you will need expert advice but is there any equity in the house ? if not just be aware that unless bankrupt any shortfall and costs will be left to you to find.
I think saving up the money for 6 months up front rent and bond would make it so much easier for you to rent if you have to.
DDx
Byanjlovescats
#194208 Hi DD
I have a mortgage for £127500 and my home has been up for sale since feb for £170000. I recently dropped it to £160000 as I have had no viewers and its absolutely immaculate in a quiet cul de sac in a lovely area. Im at my wits end. I find myself sat at work teaching the children at my school but thinking all the time about where I may be in 6 months time from now.....its awful. I dont want to have any more sleepless nights. I have actually detached myself from the house as I know I will never be able to keep it. Im worried about not being able to find a rental home. I havent even tried yet. But from this forum I have found that they want 6 months rent upfront for homes if you have bad credit. Why are you surrendering yours and how far along in the process are you?x
Byanjlovescats
#194209 sorry DD...just seen your post before mine....so i know how you feel...x
ByDESPERATEDEBTOR
#194222 We have a date saturday am at the bank to surrender the house they won`t accept just the letter need an appointment I think it will be an emotional day for me but one that needs to come and go so I can move on.
Sounds like a lot of worry for you too seems that if you did voluntary surrender the house they would get their money back so maybe you should have a word with them but I am sure they will ask you to keep paying for the house until actually sold (not much different to what you are doing now I suppose).
From what I here if you stop paying the mortgage and secured loan it can take many weeks before repossession allowing you time to save money for rented accomodation but I am afraid I just didnt have the guts to do this I just need to be free from any worry.
We finally got a rented house thru an agent we wnated to rent the house back in December but the agent insisted on upfront rent for 6 months and a bond which we didnt have.
I kept my eye on the property and it never has been let so I tried again. The agent said his client would still want six months upfront anyway i said can u ask him.
We hope to have the keys by friday paid a little more for the bond because of our situation but only one month in advance.
Be happy whatever you choose.
ddx
Byanjlovescats
#194224 Best of luck DD....you deserve to be stress free....hope your move goes well....and thanks for the advice....will keep you posted xx
Bypopps
#194313 Hi my house was repossessed last year we wanted to voluntary surrender but it would have gone against us having a council house as we would have made our selves homeless you have to try and hang on until you get the eviction which can be months down the line as you can be given extra 'points' in your favor

I hung on and was offered a house but at the same time we found a private rented one through the local newspaper which was much more suitable for schools etc all the best
Byanjlovescats
#194483 Hi popps...
so pleased you got something that you wanted....i have been in tears tonite because im so worried that i will not get somewhere before my house is repossessed as i tried to rent somewhere private this week and was told i needed a guarantor who will pay the rent and i could pay them back....no one is going to do that for me...im in arrears and they are not going to put their credit status in jeapordy for me. Im so worried about having to go into a hostel with the kids....the council said i may have to do this and it makes me sick to think i may have to go from owning my own home to going into homeless families and having to take whatever they offer me....
am i worrying unnecessarily???x
Bypopps
#194678 Hi

Sorry ive not replied before been decorating plus had a crap day fri so 1st time ive been on this weekend

For me its all about priority my 2 daughters are ok we are all ok health wise the rest I take in my stride I do worry but do not let it take over my life, life is hard enough with worrying more, maybe I am odd to think this way. but our house was repossessed last August we had already moved out in the July had a bit of a panic finding somewhere as we have 2 dogs but was ok in the end and we have just moved again with the same landlord to a house with a bigger garden very stressful not recommended twice in a year but we are ok.

Stressful friday daughter fell hit face nose mouth swollen & bloody she is disabled fell over friends feet in school 17 years old looks like she has been in a fight, other half came home from work friday car died 2 streets away called rac looks like starter motor gone excess £200 bank holiday nowhere open will have to wait until Tuesday he will have to use some of his holidays as not paid days off to get car fixed but never mind we live to carry on till the next time a disaster strikes, with my track record 2 weeks break max.

Thanks for reading my moan sorry to have gone on so much I hope you find some where try local newspapers for private renting local ads in shop windows if poss offer extra bond plus month or more in advance I wish you well and hope you find somewhere soon

Popps [previously known as sbk3] could not sign in using old name :D :D :D
Bydisneylover43
#194706
anjlovescats wrote:Could anyone shed some light on the best way to go about moving on with my life. My husband left me last year and I have been struggling with mortgage payments of £883 per month plus £190 arrears on top of that. I also have been paying a secured loan of £280 per month. I have (last month) stopped paying these as I only earn £900 per month and with my wftc and ctc (credits) I have been struggling to manage but have had no money to pay bills and eat....I have two children 14 and 17 years old and just thought....why the hell should I continue to bury myself by paying the mortgage/loan and have nothing to live on. I rang GE money and I asked about voluntary repo. I havent signed the forms yet. I dont know whether to sit here for a couple of months and save the payments for rental as I have bad credit now and wont get through the credit checks for private rented. Council/HA said I could be waiting upto 4 years for a home. My only option is to private rent. I am thinking of saving the mortgage payment money up and then when they apply for repossession just up and get myself a rented house. But the question is....if I voluntary surrender rather than them repo it...will it go in my favour in the future...and will I be any better off. Or should I wait until they evict me (or just before) and then move (with some savings). If anyone has actually gone through the whole voluntary repo process could they please advise....any advice greatly appreciated....x

have you had a check to see if you can get tax credits because this might help your income,with two kids you might be entitled to something,
Is your ex husband responsible for some of the bills and keep ing the kids he should have to pay something towards them,and you should be involving a solicitor to see what your ex should be paying towards the house and bills,surley he is not getting away with not paying anything?

If you go BR your ex might responsible for half of the debts you both got while married so you should ask your solicitor about that,
I hope you dont think me being to open here,but it seems to me that you should not have to be left with all the responsiblity while your ex has none :?
User avatar
Byjurgenpie
#194861 I was quite lucky, I went through a estate agency who didn't do a credit check I volunteered the information on the form that I was in a IVA and moved in on the 1st March with just one months rent in advance and security (refundable) deposit of £495. I went Bankrupt on the 5th March, haven't made any mortgage payments since 1st January, not sure whats happening with the house because there is equity in it, up to the OR to sort out, what about renting privately (didn't think they did credit checks on private?) that is what I would have done.


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Byanjlovescats
#195108 Well....a little bit of hope today...had a call from the estate agents to says someone want to view the house. They have sold theirs through a private sale and need something quick. Im going to rent anyway (private or council) so hopefully they will like it!!! :? At least I will be able to move away and have a fresh start. Keep your fingers crossed!!!
Bypopps
#195274 hi, hope you are lucky, any luck finding somewhere or are you going to wait a while see how things go :lol: :lol:
Byanjlovescats
#196896 Good news....I have had an offer on my house. It is for £154000 and It was originally on the market for £170000, but in this market Im happy-ish with that. I will be left with about £6000 equity after paying everything off.

Tried to get a rented house yesterday, but told by the estate agents that they dont do ccjs, defaults, pets...(i have 2 cats-which i love dearly).

I am worried Im going to be homeless if I cant find a rented house. Also being charged £7500 erp from GE money even though my tie in period is up in november....this would have helped me out a lot financially.

I am looking at a brand new house today at 12pm. A doctor and her sister have bought if for investment purposes and want a long term tenant....that would suit me fine...its near school for my teenage son too. I am thinking of asking my solicitor to do a clause in the sale of my property saying I will pay 6 months rent to them directly from the sale of the property. Cant get a guarantor....mum is too scared to help as she wont even get a washing machine on credit! Sensible woman in hindsight.

Im hoping I can convince the landlady to accept my offer. Will let you know later how I get on..

want to move out in a couple of weeks really. xx
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