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hi all, wondering if i can get some advice.
My wife has a property being repossessed by MX on tuesday (weve had a suspended possession for a few years, which we've managed to overturn possession dates 3 times so far) . We've had money trouble for years but are actually starting to come out the other end now. Anyway, we broke an arrangement with mortgage express a while ago, and i was told there wouldnt be another one, and it would be repossessed. I wrote in to various departments with plans, didnt get a reply from any of them, so I thought it was pretty much over.
Anyway, they called me mid june and said it hadnt gone legal yet and was ;with the mandate team' who were deciding what to do with it, and so if i could make a payment it would be reflected favourably, it would then be on hold for two weeks while i put a proposal together. The payment is £181.80 so i paid around £280 to them in june, two days later, got a letter from their solicitors saying they were going for a possession date. Today recieved a letter saying its tuesday at 1:45pm (tenants will be evicted etc, not that theyve paid rent for months anyway, but thats another story!).
spoken to mx and its full arrears £1500, which i cant do), or nothing, possession will go ahead .
Ive done an n244 a few times, and been to court to keep the property, and succeeded, however, we got the letter today about tuesdays eviction (still nothing from court!), we go away ealry tomorrow to a family wedding and dont return until wednesday (day after the possession date!).
So I think its game over for us, we've chatted about it all morning and decided it may not be a bad thing, if interest rates rose, we'd probably struggle anyway and it may be a good time to cut losses, we know from experience MX/NRAM arent a company to be involved with.
my question lies in a shortfall, what will happen if there is one (outstanding balance is £101k, value could be anything between £85k and £115k), will we get a chance to make a monthly proposal? will they bankrupt my wife?
anybody got any experience of this?
if anyone knows of a way to potentially stop the repossession without us being there (we probably couldnt afford representation!), we'd be all ears on that as well whilst we review all options.
thanks!
My wife has a property being repossessed by MX on tuesday (weve had a suspended possession for a few years, which we've managed to overturn possession dates 3 times so far) . We've had money trouble for years but are actually starting to come out the other end now. Anyway, we broke an arrangement with mortgage express a while ago, and i was told there wouldnt be another one, and it would be repossessed. I wrote in to various departments with plans, didnt get a reply from any of them, so I thought it was pretty much over.
Anyway, they called me mid june and said it hadnt gone legal yet and was ;with the mandate team' who were deciding what to do with it, and so if i could make a payment it would be reflected favourably, it would then be on hold for two weeks while i put a proposal together. The payment is £181.80 so i paid around £280 to them in june, two days later, got a letter from their solicitors saying they were going for a possession date. Today recieved a letter saying its tuesday at 1:45pm (tenants will be evicted etc, not that theyve paid rent for months anyway, but thats another story!).
spoken to mx and its full arrears £1500, which i cant do), or nothing, possession will go ahead .
Ive done an n244 a few times, and been to court to keep the property, and succeeded, however, we got the letter today about tuesdays eviction (still nothing from court!), we go away ealry tomorrow to a family wedding and dont return until wednesday (day after the possession date!).
So I think its game over for us, we've chatted about it all morning and decided it may not be a bad thing, if interest rates rose, we'd probably struggle anyway and it may be a good time to cut losses, we know from experience MX/NRAM arent a company to be involved with.
my question lies in a shortfall, what will happen if there is one (outstanding balance is £101k, value could be anything between £85k and £115k), will we get a chance to make a monthly proposal? will they bankrupt my wife?
anybody got any experience of this?
if anyone knows of a way to potentially stop the repossession without us being there (we probably couldnt afford representation!), we'd be all ears on that as well whilst we review all options.
thanks!
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