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

Moderators: TalbotWoods, JaneClack

By angel7
#207624 Hi, I am a newbie looking for some advice! Due to a big drop in my income, I have really struggled since September last year (I am self empoyed) and have over 2 months of mortgage arrears. I have negotiated payments starting again this month which include the arrears, and have found some other employment as well. However, I just dont have enough money coming in and am really not sure how I am going to meet the mortgage payments, never mind other bills, my gas was nearly cut off just before Christmas. I am working 7 days a week to try everything but cant catch up?

Did think of selling the house but it has dropped nearly 20,000 in value. What are priority bills and also does anyone feel the economy will improve anytime soon.

By red24
#207630 What a situation to be in, I would hate to be a mortgage payer at the moment, it must be a nightmare.

Priority bills which you must pay are mortgage, secure loans, Council tax, utilities - gas, electric, water - CCJs and any taxes/benefit overpayments must be dealt with and not ignored.

Is renting out your property not a possibility to pay your mortgage and you rent somewhere cheaper.
By in deep
#207633 The main thing is to keep up the communication with the mortage company it may be worth seeing CAB debt advise and getting them to advocate for you , i think we often strive to hard to clear the mortage arrears because we become afraid , as long as the current payments are being met that should give you some negoitaiton tactics.

But make sure council tax, gas/elec is paid , water they cant cut you off.

Credit cards etc i havent paid for 14 months and have just had the first CCJ, so they would be the least of my worries.

Good luck.