The prospect of a repossession can be terrifying and create anxiety and uncertainty. As well as the immediate queestions of settling the debt, or where you and your family will live, there is the long-term damage it can do to your financial health.
A repossession is a major black mark on your credit history and will be there when future landlords or lenders check on your credit status.
If you are three months or over in arrears your bank or mortgage company has the right to start proceedings to repossess your house. Once the process is underway there will be a number of court appearances where your financiaal situation will be taken into account. Your lender will eventually obtain a warrant which they will enforce with a bailiff and remove you from your home.
Unfortunately tens of thousands face this prospect every year, and in the current economic climate this does not seem likely to get any less. Many families and individuals are in very real danger of facing repossession.
We Can Help Stop Your Repossession
If you have a repossession order against you we can work on your behalf and deal with the courts and mortgage company. Basically the lender wants money against the outstanding debt, and it is in their interest that they do not end up with a house they have to sell.
The fact that we can make a cash offer is often enough to stop the process, and the prospect of the deal being completed quickly usually satisfies the banks and the courts. This can stop the stress of the repossession on you and give you a few weeks to organise where you will be staying. More importantly your long-term financial status will be much healthier without the record of you having been forced to move from your home.
Obviously, the sooner you contact us with regards to your circumstances the better. Leaving it until the last minute makes the process riskier and more complicated.